Mark Zuckerberg has threatened to shut down Facebook, and Instagram in Europe if need be. Currently, Meta processes its data across the US and Europe. Meta says its processing of data across continents is crucial for its business — both operationally and for ad targeting.
However, Europe’s new laws require users’ data to be kept (and processed) on Europe’s servers only.
Meta has been unable to comply with the new European rules. Since Meta has been unable to comply with the new data-sharing agreements, it says that it will no longer be able to offer significant services in Europe, including Instagram and Facebook.
In the report submitted to Securities and Exchange Commission, Meta suggests that if the company fails to comply with the new EU regulations, it will simply stop providing its Facebook and Instagram services within the union.
Last week’s financial report suggests that Facebook and Meta are having a hard time. Meta’s stock plummeted by 25% after the company lost daily active users for the first time in its history. This means the company is likely just trying to put itself in a more beneficial negotiation position instead of actually planning on actually acting up on its threats.
It remains to be seen what Meta and European regulators do with the situation, but with the statement, Meta has sent its threat message to the lawmakers.
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