Meta says it may shut down Facebook and Instagram in Europe over data transfer dispute
The issue comes down to European data regulations that prevent #meta from transferring, storing and processing Europeans’ data on US-based servers. "We have absolutely no desire and no plans to withdraw from Europe, but the simple reality is that Meta, and many other businesses, organisations and services, rely on data transfers between the EU and the US in order to operate global services," a Meta spokesperson told Euronews Next in a statement.
Is their spokesperson a toddler?
Why are they only now waking up to GDPR?
Because.. it’s not related to GDPR? 🤦♂️
Of course it's related to GDPR. Facebook did a bullshit move and basically ignored GDPR for a few years based on collusion with Irish data protection authorities. Took a lawsuit to tipple that fake "Privacy Shield" agreement and force them to comply. Just search for Max Schrems, who has been leading the lawsuits for years.
This gets more political. US in general does not like policies that can harm its or its corporates interest overseas.
US doesn’t have any political capital to spare on Facebook. They’re under anti-trust scrutiny by Ms. Lisa Khan and it would be best to kick them while down rather than advancing their anti-privacy interests.
Won’t happen ever, obviously. This isn’t China
Good gtfo. Unlike the US, Europeans don’t fuck around & can’t be bought as much
People arrived in US from Europe
Vlocity, That’s 500 years ago
Zero chance of happening obviously. Their market cap will drop by another 50% if they do
Please dont threaten me with good time
Meta is NOT threatening to pull out of EU. This is a required disclosure in their 10-K filing to the SEC. This law requires that they disclose all material risks to their business operations and financial health. Think of it like a project plan, where under risks you disclose, “If we understaffed in engineers, we win’t be able to finish the project.” It’s not a threat, it’s just what will happen if that hypothetical future occurs. If EU imposes regulations that are strict to a level that FB’s product is fundamentally incompatible with the law (think of banning cigarettes), then FB’s EU operation could be curtailed or shuttered. They have to disclose that risk on their financial filing by law.
🤦♂️