The FTC’s Misguided Case Against Meta

Consider the instructive history of Instagram. When Meta acquired it, regulators did not act because Instagram was small, and the deal did not appear to present the sorts of problems against which antitrust regulators act. “At the time, basically no one worried about it from an antitrust perspective and many pundits lambasted the purchase as a poor business decision,” scholars from the International Center for Law & Economics report. “It is only in retrospect that people have started to see it as the merger that got away.”