Thursday, September 28, 2023

As the FTC tries to prevent a VR acquisition, Meta CEO Mark Zuckerberg testifies in court

By ET Bureau - December 22, 2022 1 Mins Read


Mark Zuckerberg, the CEO of Meta Platforms Inc., stated in federal court on Tuesday that he is not overly concerned about using fitness apps to create his metaverse.

When asked about virtual reality and augmented reality, his company’s market goals, and whether Meta was attempting to influence the direction of technology, Zuckerberg was grilled on all of these topics. Although he gave a positive response, he noted that the question was “fairly broad statement.” The FTC case is described as unusual because this acquisition is taking place in a newly emerging market.

Also Read: Sweep, a Salesforce software no-code configuration tool, raises USD 28 million

The FTC claims that it doesn’t want Meta to gain too much market dominance before it truly takes off, hence the challenge.

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