Facebook President and CEO Mark Zuckerberg testified in a House Financial Services Committee on October 23, 2019, hearing the company’s plan to launch a digital currency on Capitol Hill in Washington, US.
Erin Scott | Reuters
Mark Zuckerberg, in remarks released on Tuesday, defended Instagram and Facebook’s acquisition of WhatsApp, ahead of his testimony in front of the House Antitrust Subcommittee on Wednesday.
“Facebook has made Instagram and WhatsApp a success as part of our family of apps,” Zuckerberg said in his prepared comments.
Zuckerberg will be one of the four tech CEOs to appear at the hearing, along with Amazon CEO Jeff Bezos, Apple CEO Tim Cook and Google’s parent Alphabet CEO Sundar Pichai.
“Instagram and WhatsApp have enabled Facebook’s bespoke, low-cost infrastructure and Facebook’s integrity teams and technology to develop and operate their services to combat spam and harmful content.”
Facebook acquired Instagram in 2012 for $ 1 billion. It acquired WhatsApp in 2014 for $ 19 billion. In 2019. Sen. Elizabeth Warren, D-Mass., Accused Facebook of using the takeover of Instagram and WhatsApp to limit competition, and said that if she were elected president, she would achieve those “anti-competitive mergers” To appoint regulators.
Zuckerberg argued that Instagram benefited from the acquisition by using Facebook’s technology to stabilize its infrastructure and remove spam. Meanwhile, Facebook’s acquisition of WhatsApp allowed users to make secure messaging apps free. WhatsApp also used Facebook’s technology to develop video and voice-calling features, Zuckerberg said.
“These gains occurred as a result of our acquisitions of those companies, and it would not have happened had we not made those acquisitions,” Zuckerberg said. “We’ve developed new products for Instagram and WhatsApp, and we’ve learned from those companies to bring new ideas to Facebook. The end result is better services that provide more value to people and advertisers, which Facebook acquires One of the main goals of the strategy. “
Zuckerberg also noted Facebook’s contribution to the open-source tech community. He specifically mentioned the company’s PyTorch, Detectron2, FAISS and DensePose projects.
“We offer hundreds of projects such as Facebook open source and GitHub where our projects have hundreds of thousands of followers,” he said. “I believe that sharing our intellectual property in this way helps meter the entire ecosystem, move forward and develop new products.”
Zuckerberg said that companies are not bad just because they are big, because many large companies do not exist after failing to compete.
“Several years ago, Facebook moved our headquarters to the campus where Sun Microsystems used to be,” Zuckerberg said. “We put their sign in front, on our back, to remind us that things change fast in technology. I’ve long believed that the nature of our industry is that someday a product will replace Facebook. I want to That we do it. Those who make it, because if we don’t, someone else will. “