Meta反垄断案开庭，Instagram和WhatsApp分拆成焦点_老虎社区_美港股上老虎

Meta反垄断案开庭，Instagram和WhatsApp分拆成焦点

华尔街见闻2025-04-15

Instagram对Meta至关重要，预计今年将贡献其美国业务约50%的销售额，若分拆，Meta的广告业务将遭受重创。Meta反垄断重审面临生死抉择，Instagram和WhatsApp命运成焦点。美东时间4月14日，据报道，Meta与美国联邦贸易委员会(FTC)的反垄断诉讼正式开庭，这场旷日持久的法律战将决定科技巨头能否保住旗下最重要资产。美国联邦贸易委员会指控Meta在社交媒体领域拥有非法垄断...

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opens","themeId":"","isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/269f77892aa4c925b3098f6f4e5160dd","symbols_score_info":{},"content_text":"Instagram对Meta至关重要，预计今年将贡献其美国业务约50%的销售额，若分拆，Meta的广告业务将遭受重创。Meta反垄断重审面临生死抉择，Instagram和WhatsApp命运成焦点。美东时间4月14日，据报道，Meta与美国联邦贸易委员会(FTC)的反垄断诉讼正式开庭，这场旷日持久的法律战将决定科技巨头能否保住旗下最重要资产。美国联邦贸易委员会指控Meta在社交媒体领域拥有非法垄断地位，要求其撤销对Instagram和WhatsApp的收购。FTC起诉Meta的案件始于特朗普第一届执政时期，2020年底首次提起，后被法官博斯伯格驳回，因其认为FTC证据不足。拜登政府期间，FTC提交修改后的申诉，博斯伯格认为其解决了缺陷，案件重回正轨。现任共和党FTC主席弗格森表示将推动此案至判决。若Meta被迫分拆Instagram和WhatsApp，其广告业务将遭受毁灭性打击，投资者面临巨大风险。尤其值得关注的是，Instagram预计将贡献Meta今年美国业务约50%的销售额。Meta首席执行官扎克伯格将以“第一证人”的身份出席Meta的审判。报道称最近几周，扎克伯格一直在游说特朗普达成和解，避免审判，但双方尚未达成任何协议。Meta股价今日走低，截至收盘跌超2%，此前一度涨超2%。市场定义成为争端核心：TikTok是竞争对手还是差异服务？该案将很大程度上取决于FTC关于Facebook、Instagram和WhatsApp是否主导了\"个人社交网络\"市场。美国联邦贸易委员会主席Ferguson称我们认为Meta肯定是一种垄断。美国联邦贸易委员会认为，消费者使用这些应用程序主要是为了与朋友和家人保持联系。根据FTC的定义，Snap属于这个市场，但TikTok、YouTube、X和Pinterest不是，因为它们是娱乐或\"共享兴趣\"应用程序，与个人社交网络的目的不同。FTC预计将大量引用扎克伯格当年的通信记录来论证收购的反竞争性质，FTC律师Daniel Matheson在反垄断案件审理的开场陈述中表示：“Meta曾在2013年准备按60亿美元收购Snap。”Matheson直接抨击Meta的收购策略：他们认为竞争太艰难，买下竞争对手比与之竞争更容易。Matheson强调扎克伯格2012年发给同事的电子邮件，其中他说Instagram可能对Facebook\"非常具有破坏性\"。扎克伯格当时写道：“看待这件事的一种方式是，我们实际上是在购买时间。”Meta方面则坚持认为，FTC案件的核心前提有误，即认为Instagram和WhatsApp注定会成功并与Facebook竞争。实际上，Meta 律师Hansen在开场陈述中辩称，扎克伯格在收购这些服务时承担了风险，然后将它们提升到了新的高度：无论从哪个角度看，消费者都是最大的赢家。Instagram对Meta至关重要：分拆将造成业务重创根据研究公司eMarketer的数据，Instagram上的广告预计将占Meta今年美国销售额的约50%。eMarketer首席分析师Jasmine Enberg表示：失去Instagram将对Meta的业务造成巨大打击。Enberg指出，与Facebook相比，Instagram在年轻用户中持续增长，而Facebook在18-24岁年龄段的用户今年预计将下降2%。\"在很多方面，Meta需要Instagram来保持用户参与度并继续吸引广告商，\"Enberg补充道。报道指出，这个案例还说明了挑战科技巨头的难度。Facebook、Instagram和WhatsApp都是免费使用的，因此Meta从未提高价格，这是垄断者行使权力的最明显方式。美国联邦贸易委员会声称Meta提高了\"质量调整价格\"——这是指Meta利用市场力量做出消费者不喜欢的事情，如在屏幕上投放更多广告或不提供强大的隐私保护。这场预计持续约8周的审判将由法官James Boasberg主持。如果Boasberg认定Meta违反了反垄断法，他将在之后裁定采取诸如拆分等补救措施，以恢复市场竞争。对投资者而言，这场审判的结果将直接决定Meta未来商业模式的可持续性以及其市场估值的合理性。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}