Meta's ‘pay or consent' model fails EU competition rules, Commission finds [TechCrunch]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: TechCrunch
neworks, Facebook and Instagram, since last fall does not comply with the bloc's Digital Markets Act (DMA). Failure to abide by the ex ante market contestability regulation, which has applied on Meta and other so called “gatekeepers” since March 7, could be extremely costly for the adtech giant. Penalties for confirmed breaches can reach up to 10% of global annual turnover or 20% for repeat offences. More saliently, Meta could finally be forced to abandon a privacy hostile business model that demands users to agree to surveillance ads as the entry ‘price' of its social networking services. The EU announced the opening of a formal DMA investigation into Meta's implementation of a “pay or consent” offer to users on March 25 — following months of criticism from privacy advocacy and consumer protection groups who also argue the subscription does not comply with the bloc's data protection or consumer protection rules either. Back in March the Commission, which is the sole enforcer
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META
News
- Meta ordered to stop training its AI on Brazilian personal data [Verge, The]Verge, The
- How the power of the Minions and Gen Z propelled the ‘Despicable Me' franchise [Los Angeles Times (CA)]Los Angeles Times
- 3 Top Tech Stocks to Buy in July [Yahoo! Finance]Yahoo! Finance
- From 'latte makeup' to 'girl dinners,' TikTok has launched tons of trends. Will its influence last? [Yahoo! Finance]Yahoo! Finance
- Meta banned from mining data to train its AI models in Brazil [Fortune]Fortune
META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 7/2/24 - Form 144
- 7/2/24 - Form 144
- 7/1/24 - Form 4
- META's page on the SEC website