Meta vs. History: Can the FTC Turn Back Time?
Meta’s lawyers are expected to challenge the FTC’s about-face by pointing out that Obama-era regulators cleared both acquisitions. But legal scholars caution that prior approval doesn’t create immunity. “It’s not a legal defense, but it’s an emotional one,” said Stephen Calkins, former FTC general counsel.
Tad Lipsky, of George Mason University’s Global Antitrust Institute, warned that going after small startups long after they were absorbed into larger firms could chill innovation. “WhatsApp and Instagram were fledgling companies when acquired — Meta scaled them into giants,” he said.
Still, antitrust enforcers argue there’s no expiration date on scrutiny. “Our commercial lives depend on certainty,” said Northwestern professor R. Mark McCareins, emphasizing the risk to companies that rely on finality in merger reviews.
A Case That Could Reshape the Industry
While this trial doesn’t directly target Meta’s business model or ad systems, it hits at the heart of dealmaking certainty — the idea that once a merger closes, it’s done. As Paul Swanson put it, “this case shines a spotlight on whether century-old statutes can deal with 21st-century tech.”
Observers agree: win or lose, this case is likely to reshape the rules of engagement for mergers in dynamic markets. The implications could stretch far beyond Menlo Park, potentially altering how Amazon, Apple, Live Nation, and Visa navigate their own regulatory tightropes.
