Miguel Afonso Caetano<p>"Mark Zuckerberg called the head of the Federal Trade Commission in late March with an offer: Meta would pay $450 million to settle a long-running antitrust case that was about to go to trial. </p><p>The offer was far from the $30 billion that the FTC had demanded. It was also a fraction of the value of Instagram and WhatsApp, the two apps Meta had bought and were at the heart of the government’s case.</p><p>On the call, Zuckerberg sounded confident that President Trump would back him up with the FTC, said people familiar with the matter. The billionaire Facebook co-founder had been developing closer ties to Trump—his company donated $1 million to Trump’s inauguration and settled a $25 million lawsuit—and had been pressing the president in recent weeks to intervene in the monopoly lawsuit.</p><p>FTC Chairman Andrew Ferguson found the offer not credible, and wasn’t ready to settle for anything less than $18 billion and a consent decree. As the trial approached, Meta upped its offer to close to $1 billion, the people said, and Zuckerberg led a frenzied lobbying effort to avoid the FTC trial.</p><p>It wasn’t enough. On Monday, the trial kicked off. The FTC called Zuckerberg—who privately expressed reluctance about taking the stand—to testify for four hours.</p><p>Zuckerberg was back on the witness stand Tuesday, where he faced questioning from an FTC lawyer over whether Facebook had paid $1 billion to buy Instagram to “neutralize” a competitor. </p><p>Asked if he would have preferred that Facebook’s own camera app would have grown faster, Zuckerberg responded, “I guess so, yeah. A billion dollars is very expensive.” </p><p>Former FTC Chair Lina Khan told the Journal that the company’s $450 million settlement offer was “delusional.”"</p><p><a href="https://www.wsj.com/us-news/law/mark-zuckerberg-meta-antitrust-ftc-negotiations-a53b3382" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">wsj.com/us-news/law/mark-zucke</span><span class="invisible">rberg-meta-antitrust-ftc-negotiations-a53b3382</span></a></p><p><a href="https://tldr.nettime.org/tags/USA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>USA</span></a> <a href="https://tldr.nettime.org/tags/FTC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FTC</span></a> <a href="https://tldr.nettime.org/tags/SocialMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SocialMedia</span></a> <a href="https://tldr.nettime.org/tags/Meta" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Meta</span></a> <a href="https://tldr.nettime.org/tags/Facebook" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Facebook</span></a> <a href="https://tldr.nettime.org/tags/Instagram" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Instagram</span></a> <a href="https://tldr.nettime.org/tags/WhatsApp" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WhatsApp</span></a> <a href="https://tldr.nettime.org/tags/Antitrust" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Antitrust</span></a> <a href="https://tldr.nettime.org/tags/Oligopolies" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Oligopolies</span></a></p>