Fb (Meta) made practically $6bn revenue within the first quarter of 2023 (down on 2022 however nonetheless) so a wonderful of €1.2bn from the often accommodating Irish authorities for breaking EU knowledge switch guidelines gained’t make an excessive amount of distinction to Mark Zuckerberg’s financial institution steadiness.
Even so it’s nonetheless a whopper and introduced a reasonably uncommon squeak of protest from Fb PR supremo Nick Clegg. Clegg says: “We’re dissatisfied to have been singled out when utilizing the identical authorized mechanism as 1000’s of different firms trying to present providers in Europe.
“This choice is flawed, unjustified and units a harmful precedent for the numerous different firms transferring knowledge between the EU and US.” Which most likely means Faceboook proprietor Meta will enchantment.
The Irish authorities has been extensively criticised for sweetheart heals with the large techs. Google is predicated there and can let you know, with a straight face, that its enterprise is carried out by “our account managers in Dublin.” No concept what all these on London do.
Anyway it’s an indication of the noose tightening on the tech giants, desperately making an attempt to maintain buyer monitoring as the important thing a part of their repertoire. The Biden administration within the US is making an attempt to align its guidelines with these of the EU, which spells greater bother for them if it makes it to the statute guide by way of regardless of their ferocious lobbying efforts.
Media companies, and lots of US advertisers through the ANA commerce physique, have additionally been combating such tightening of the foundations. Monitoring makes cash for media companies and permits CMOs to keep up the fiction that their tidal wave of digital advertisements attain actual individuals.
