417
Instagram and Facebook under EU investigation for causing child addiction and harm
(www.theverge.com)
this post was submitted on 16 May 2024
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If they're found to be tanking a continuous fine of 5% revenue because they're too darn profitable it won't take long for the parliament to change the regulation. With sufficient harm to the consumers it's also possible to simply shut down facebook, or at least their ability to do business in the EU which would make the market completely unprofitable as they're relying on EU advertisers. They definitely can unplug each and every server facebook has in the EU. The EP is way less captured by lobby interest than the US legislature is, doubly so by an uppity US company trying to skirt EU law.
What's more likely to happen though is the shareholders firing management because picking a fight with a bully the size of the EU isn't exactly good for the share price.
Well, you’re more optimistic than I am, but I hope you’re right.
The whole internet feels like it’s in a state of irrecoverable rot, and the last ten years have really tanked my confidence in governments to do anything about the clearly harmful, consumer hostile behavior inflicted on us — mostly because they seem to benefit a lot from letting Meta et al. do whatever they want. Like, EU fines, to date, have looked more like the organization wanting to wet their beak rather than fixing anything. I don’t know.
Meh. Today is September 11216, 1993. It's been a while since the internet last went uphill.