The possibility of losing 450 Mio users by Meta owned Facebook (and Instagram) in Europe in a dispute centring on #dataprivacy has already crashed the stock price by 25% in hours.
Mark Zuckerberg’s social media group is already considering forfeiting up to a quarter of its revenue.
The ‘ask’ by EU is uncomplicated but not so simple, “store EU subscribers data on EU servers, not on US servers”.
We all know power has long shifted to the consumers| customers and government (regulatory). Organisation and business have long woken up to the smell of the coffee.
Would European Commission give ground? It doesn’t seem so at the moment.
What would be the imperative for business, social advertising and much more in Europe with Facebook being the largest social platform?
Well, It could be POSITIVE with opportunities for emerging or new social platforms to leverage and fill the gap. This could mean a serious recalibration and loss of inventory for businesses with a strong footprint on Meta owned platforms
You must have heard of the Great China Wall?
Meta-owned Facebook and Twitter have long been blocked in China since 2009 due to a separate reason linked to a government crackdown. This includes Meta’s messaging platform Whatsapp and its photo- and video-sharing app Instagram are also blocked. Yes, there are alternatives. A major one is WeChat by Tencent.
Imagine the 1.4 Bio China population?
What about individuals? What might the implication be? Someone says if the EU has its way, I’m immigrating there.
I understand Europeans love posting to Facebook and Instagram and may not find being left out in the cold funny. Is this a dilemma situation?
Anyway, these are my personal ponder on this topic. Please feel free to weigh in or drop a comment.
You can read more: https://lnkd.in/eSwrnnUF
Image: Yahoo Finance.