When former COO of Facebook Sheryl Sandberg said she was 'Wrong, Very Wrong' about Instagram after

Former Meta Chief Operating Officer Sheryl Sandberg took the stand in federal court Wednesday, revealing that Meta had considered blocking advertisements from potential competitors on its Facebook platform. This testimony bolsters the Federal Trade Commission's (FTC) argument that the social media giant employed such strategies to stifle emerging rivals.
During questioning by FTC lawyer Susan Musser, Sandberg addressed internal discussions between herself and CEO Mark Zuckerberg regarding this advertising strategy. This marked Sandberg's first appearance in court since the trial began.
The trial also shed light on private communications between Sandberg and Zuckerberg during their deliberations over acquiring Instagram for $1 billion. In a text exchange from the spring of 2012, Zuckerberg questioned Sandberg about the hefty price tag, asking, "Do you think it's way too much?" Sandberg responded, "Yes of course it's way too much." When later asked by a Meta lawyer if she still held that view, Sandberg admitted, "I think I was wrong. I think I was very wrong."
Earlier in the day, Meta founder Mark Zuckerberg made his third court appearance in as many days. His testimony focused on Meta's intense efforts over the past four years to compete with the Chinese-owned video-sharing app TikTok. Zuckerberg described TikTok as one of the most significant "competitive threats for Instagram and Facebook."
Under questioning from a Meta attorney, Zuckerberg emphasized that Meta actively competes with TikTok and, in many respects, trails behind in the current social media landscape. This line of questioning aimed to weaken the FTC's claim that Meta holds a monopoly in the social media market.
Zuckerberg acknowledged that Reels, Meta's short-form video feature designed to rival TikTok, was "pretty good." However, he quickly pointed out that TikTok's user base surpasses the combined user bases of both Facebook and Instagram. "And I don't like it when our competitors do better than us," Zuckerberg stated.