(Andrew Harnik/Getty Images)

Meta offered $450 million to settle its antitrust trial — about $29.5 billion less than the FTC wanted

But Zuckerberg’s business could lose a lot more if it’s forced to sell Instagram or WhatsApp.

4/16/25 7:50AM

The Federal Trade Commission’s antitrust trial against Meta is now heading into its third day, as the company’s acquisitions of Instagram and WhatsApp in 2012 and 2014, respectively, are hauled into question.

And according to new Wall Street Journal reporting, it’s a trial that CEO Mark Zuckerberg himself was trying to settle for $450 million on a phone call with the FTC chair in late March — considerably lower than the $30 billion fine the Commission had proposed, and a bargain compared to what it would cost the business were it forced to sell off either of the apps in question.

You’re gonna need a smaller moat

On Monday, the first day of the trial, an FTC lawyer claimed that Meta chiefs were aware that the acquisitions would help the company build a “moat” to fend off competition in the personal social networking industry, creating a monopoly in a space that includes only two other platforms, per the FTC’s argument: Snapchat and smaller platform MeWe.

Meta argued that the Commission has “gerrymandered a fictitious market” with this take, in a company blog post titled, “The FTC’s Weak Case Against Meta Ignores Reality,” which was posted a day before the trial kicked off.

However, the social giant was clearly keen to keep the case out of court — having already forked out the largest tech company fine in FTC history in 2019, handing over $5 billion for violating consumers’ privacy. Looking at how Meta’s business is made up, its attempts to shield its apps from the legal spotlight make a lot of sense.

Meta revenue splits chart — Sherwood News

Since it acquired Instagram for a reported $1 billion in April 2012, Meta’s quarterly revenues are up more than 40x, while ~98% of the $48.4 billion it posted in Q4 2024 came from its family of apps, including Facebook, Instagram, WhatsApp, and Messenger.

The division is also much more profitable for Meta than its other revenue stream. Apps have brought in a whopping $264 billion since Q4 2020, compared with Reality Labs (home to the company’s AI operations and metaverse ambitions), which has burned $60 billion in the same time frame.

Max Knoblauch10/16/25

Uber launches “digital tasks” in the US, paying some drivers to train AI

Beginning later this fall, US Uber drivers will be able to earn money by completing short “digital tasks” like uploading restaurant menus or recording audio samples.

CEO Dara Khosrowshahi teased the new gig income stream back in June at the Bloomberg Tech conference.

At that time, Khosrowshahi said drivers and couriers were “labeling maps, translating language, looking at AI answers, and grading AI answers.” According to Thursday’s announcement, the tasks won’t be so focused on Uber’s business, but instead on connecting workers with “companies that need real people to help improve their technology.”

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

Uber’s having drivers train its AI while partnering with robotaxi companies that could replace them

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

Max Knoblauch

10/15/25

United Airlines posts stronger-than-expected profit but weaker sales in its third quarter

United’s full-year profit outlook falls somewhere in between the dual forecasts it issued back in April.

United Airlines Airplanes at Newark Liberty International Airport in Newark, New Jersey

Hyunsoo Rim, David Crowther

HEAD OF MACROS

10/15/25

Pop-Tarts, Doritos, and Uncrustables have joined the protein craze taking over America’s snack aisle

Food giants are catching up with the latest diet obsession.

Apple TV dropped the “plus” as streamers keep pulling back on originals

After the spray-and-pray approach led to a wave of cancellations, Hollywood is settling into an era of just making fewer shows.

Hyunsoo Rim10/15/25

Max Knoblauch10/14/25

The average price of a new vehicle in the US passed $50,000 for the first time ever in September

The average price of a new vehicle in the US surpassed $50,000 in September, according to Cox Automotive’s Kelley Blue Book.

At $50,080, that’s the highest industry average ever, reflecting the price hikes faced by new car buyers in recent years amid pandemic supply shortages, tariff-induced increases, and the high cost of EV production. The figure marks a 3.6% jump from the same month last year.

“Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory,” Cox executive analyst Erin Keating said. Passing the $50,000 mark was inevitable, Keating said, especially considering that the country’s bestseller is a Ford truck that “routinely costs north of $65,000.”

Year over year, new vehicle prices rose nearly 6% for GM, while Ford’s climbed 2.5%. Volkswagen new prices were up 12.5%.

As prices climb, so do delinquencies on loans to borrowers with lower credit scores. Recent data from Fitch Ratings shows the portion of subprime US auto loans 60 days or more overdue reached 6.43% in August.