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Zuckerberg: “I bought Instagram because its camera was better”

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During the antitrust trial in the US, Meta CEO Zuckerberg stated that the reason for acquiring Instagram was its “better camera application” compared to what Facebook was working on at the time. Zuckerberg explained that when they were developing their own camera app, Instagram was superior, making the acquisition decision more reasonable. Additionally, Zuckerberg admitted that most of Meta’s attempts to develop new applications were unsuccessful, highlighting the difficulty in creating new apps. Meta defended itself in the trial by claiming that the FTC narrowly defined the social media market and ignored strong competitors like TikTok, YouTube, and Apple’s messaging services. On the other hand, the FTC accused Meta of illegally monopolizing the platforms where users share content with friends and family, pointing out Snapchat and the smaller MeWe as main competitors. Despite Meta’s defense that its previous strategies cannot be linked to today’s competitive landscape, internal discussions where Zuckerberg once stated “It is better to buy than compete” are complicating the company’s position.

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