How Meta's $19 billion bet on WhatsApp could finally start paying off
CNBCJUL 2023
Zuckerberg Testifies in Meta Antitrust Trial
Above: Mark Zuckerberg, CEO of Meta Platforms Inc., arrives at federal court in Washington, D.C., on April 15, 2025. Image copyright: Kent Nishimura/Contributor/Bloomberg via Getty Images
The Spin
Narrative A
Meta has transformed Instagram and WhatsApp into better, more secure services through billions in investment despite operating in a highly competitive market where consumers freely choose between multiple platforms. This makes the FTC's case an unprecedented attempt to punish American innovation and success.
Narrative B
Meta's acquisitions of Instagram and WhatsApp represent clear evidence of its strategy to eliminate competition through a "buy or bury" approach. Internal communications show Zuckerberg's intent to neutralize competitive threats and buy time to maintain market dominance.