In its annual report to the U.S. Securities and Exchange Commission, Meta warns that if a new framework is not adopted and the company is no longer allowed to use the current model agreements “or alternatives”, the company will “probably” no longer be able to offer many of its “most significant products and services”, including Facebook and Instagram, in the EU, according to various media reports, including in iTWire, The Guardian newspaper and Side Line Magazine.
Sharing data between countries and regions is crucial for the provision of its services and targeted advertising, Meta stressed.
Therefore, it previously used the transatlantic data transfer framework called Privacy Shield as the legal basis to carry out those data transfers.
However, this treaty was annulled by the European Court of Justice in July 2020, because of data protection violations. Since then, the EU and the US did stress they are working on a new or updated version of the treaty.
Michiel Willems
Given how violently markets reacted to the recent disclosure that Facebook lost 1 million daily users in North America, I would venture to say that Zuckerberg would never dare to cut off 300 million European users, one of its more lucrative markets, no matter the final form of the data transfer agreement. They are probably more worried about the extent to which this will affect their ability to target advertising, the core of its business and already under threat by Apple’s changes to tracking on iOS.
After being hacked I’ve lived without Facebook and Twitter for four years and life has been fantastic
, German Economy Minister Robert Habeck told reporters at an event alongside French Finance Minister Bruno Le Maire in Paris on Monday.
I can confirm that life is very good without Facebook and that we would live very well without Facebook
, Le Maire added. Digital giants must understand that the European continent will resist and affirm its sovereignty.
William Horobin & Zoe SchneeweissBut it would certainly be enlightening to see how the EU digital space would evolve in the absence of Facebook and Instagram – some short-term pain for long-term gain. I suspect most users would immediately flock to TikTok (if they haven’t switched already). I’m not particularly hopeful that this would reduce misinformation, especially around vaccines, as there are many other channels to spread this sort of nonsense. Over the medium term other social spaces would probably develop, hopefully from inside Europe and with better data practices. I would certainly miss Instagram at first, as there are few social networks centered on photography and I couldn’t care less about short-form videos, on TikTok or elsewhere. As for Facebook, I haven’t touched it in so long, I’m not even sure I count as a monthly active user anymore.
hot take that's probably true: Peter Thiel finally relinquishing his Facebook board seat suggests he thinks Facebook's influence over politics and culture is on the wane for good
— Jeff Bercovici (@jeffbercovici) February 7, 2022
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