It doesn’t take a rocket scientist to figure out that Meta makes money from all the data it collects from Facebook, Instagram, and Whatsapp users. For this reason, perhaps only a few are surprised to learn that the company threatened to withdraw its social networks from a lot of countries because there are obstacles that do not allow it to collect user data.
What happens is that a few days ago Meta published its annual financial report. Several things stood out there. One of the main ones is that the company says it “could” withdraw Facebook and Instagram from all over Europe.
The reason? It happens that recent European regulations prevent Meta from storing European user data on its servers in America. This is a huge problem for Facebook, as they make money from collecting user data in order to sell relevant advertising. A business that has left millions of dollars.
“If we are unable to transfer data between countries and regions in which we operate, we are limited from sharing data between our products and services. This could affect our ability to offer our services, because of the way we deliver our services and our ability to target ads,” Meta said in its report.
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According to Meta, its intention is to reach new agreements that allow it to collect data from users in Europe. Otherwise, services like Instagram and Facebook will no longer be available in Europe. This would affect 27 countries that are part of the European Union.
Social networks like Facebook and Instagram have been the center of controversy for a long time. This is why perhaps many see the possibility of leaving Europe as a good thing. However, it must be remembered that there are a lot of people whose work depends on these networks, so it would not be good news for everyone.
And you, what did you think of this news? Do you think Meta will stop operating its products in Europe? Tell us in the comments.
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