Article Hero

Facebook vs. European Union

1589968900.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Facebook is again it the spotlight as the European Commission pushes for compliance.

At the beginning of the week, a virtual meeting between Facebook’s CEO Mark Zuckerberg and European commissioner shaping digital policy for the internal market, Thierry Breton, took place. During the meeting, the two of them spoke about rules and regulations regarding disinformation. Breton warned the CEO about the measures that the European Commission might take against his company and other tech giants.

It comes as a part two of the discussion, the two of them had three months ago, when Breton stated that the companies must adapt to standards, not vice versa.

Disinformation became a severe issue after many fake-news about the novel virus surfaced on platforms such as Facebook, Twitter, and Google

Zuckerberg’s approach is different, as he warned the commissioner that the number of countries that want to follow the Chinese pattern of technology regulation increased. According to the Chinese typology, human rights count for less, giving the government more power over the companies. Moreover, he knows that the EU is preparing a Digital Service Act, which, if approved, will become a global standard.  

Breton was firm and reiterated that companies would have to live up to their responsibilities, such as paying taxes and taking measures against illegal and/or disturbing content, as France passed a law requiring platforms to remove as fast as possible any harmful content. According to Zuckerberg, the company already has a scanner for such content made from AI systems and people.

 But, the use of people is debatable. Just last week, Facebook settled for $52 million with 11,000 former and current content moderators who have mental health issues, PTSD included, since they have been exposed to sensitive content daily so that Facebook users don’t have to (violence, rape, and murder). Besides the settlement, Facebook is considering to fund medical treatment for diagnosis related to any mental health issues that moderators could develop. 

See the difference when trading with CAPEX.com by accessing elite features:  

  • Stellar custom service 
  • Powerful WebTrader platform and mobile app 
  • High-end integrated trading tools  
  • Full license and regulation from top regulators

Sources: techcrunch.com, reuters.com, investors.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.