META CEO MARK ZUCKERBERG CONSIDERED SPINNING OFF INSTAGRAM FROM FACEBOOK IN 2018: FTC TRIAL

Summary from the TLDR newsletter

Mark Zuckerberg considered spinning Instagram out of Meta in 2018 due to concerns about the rising threat of antitrust litigation against Facebook. He had predicted that there would be a non-trivial chance that Meta would be forced to spin out Instagram and WhatsApp in the next 5-10 years. The company is currently being accused of monopolizing the social networking market - Instagram and WhatsApp are at the heart of the antitrust trial, which seeks to cleave the apps from Meta as a possible remedy. Meta disputes the allegations and says that regulators are failing to acknowledge a number of rivals.