technology

Mark Zuckerberg testifies in the antitrust case against Meta


The Federal Trade Commission will call on Meta CEO Mark Zuckerberg, to testify in its upcoming lawsuit against the company. The Federal Trade Commission (FTC) filed a lawsuit against the social media giant in July in an attempt to prevent it from buying inside Unlimited, the creator of the popular VR Workout app Supernatural.

Reuters reported that the agency listed 18 witnesses, including Zuckerberg and Meta Andrew Bosworth, in a court document filed with California’s Northern District Court on Friday. Third-party developers, according to court documents seen by Reuters.

In July, the Federal Trade Commission accused the company and Zuckerberg of trying to “unlawfully acquire” Een. “Instead of competing for advantages, Meta is trying to make its way to the top,” John Newman, deputy director of the Federal Trade Commission’s Bureau of Competition, said at the time.

Meta dismissed the FTC’s lawsuit, claiming it was based on “idealism and speculation, not evidence,” Engadget reported.

The case could be another costly crisis for a company struggling to convince the public and Wall Street of its vision for the future.

Earlier this week, Meta revealed in its latest earnings report that its Reality Labs VR and AR division is losing more money than ever before.

In the third quarter of 2022, the unit lost $3.7 billion, which is a trend that David Weiner, the company’s outgoing chief financial officer, told investors it would continue into 2023.

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