Comment by llm_nerd
8 months ago
> The EU fines could stoke tensions with U.S President Donald Trump who has threatened to levy tariffs against countries that penalise U.S. companies.
Mark Zuckerberg, in his appearance on Joe Rogan's podcast, specifically noted this as his goal for falling in behind Trump. That Trump would be the big-stick man that would protect Meta and other cos from foreign interference. Where "interference" is anything restricting that American exceptionalism "do anything we want, however we want".
Only then Trump started a trade war with quite literally the entire world -- aside from, predictably, Russia -- and now he holds, as he likes to say, no cards. The EU and anyone else can do whatever they want and Zuck and co can cry about the millions they wasted trying to buy a protection racket.
Of course Meta could just withdrawn from the EU. I wish they would withdraw from Canada. Their garbage misinformation platform is a massive net negative for humanity and has offered nothing but harm for the planet.
Someone here hazarded the hypothesis that Trump's tariffs are a stick aimed not towards other countries, but towards American corporations, who have to pledge fealty (and resources) to Trump in exchange for relief. I think it makes a lot of sense, if any of this is rational, which I'm not entirely sold on.
It's always funny when shit happens and everyone jumps over themselves to figure out what "5D chess" the people in charge are playing. There's never any chess. They are just incompetent.
That's not 5D chess at all. Very straightforward, in fact, and backed up by the documented strong-arming of law firms.
You gotta kick back to the big guy.
Look at 47's truth social some time. In between the posts 'destroying' liberals and lionising the worst actors in his party, he posts up a disturbing amount of 'settlements' with Law Firms that previously displeased him.
They were basically forced at gunpoint to make deals to provide pro bono services to the Trump administration, in return for regulators dropping investigations into their diversity practices.
The firms - including Kirkland & Ellis, Latham & Watkins, Allen Overy Shearman Sterling, Simpson Thacher & Bartlett, and Cadwalader, Wickersham & Taft – are among the most prestigious and recognized firms in the US.
Cadwalader is the former firm of Todd Blanche, who resigned his partnership there to represent Trump in criminal cases when the firm would not take on Trump as a client. Blanche is now the deputy attorney general – the number two official at the Department of Justice.
Overall the MAGA cabinet has now secured more than $900m in pro bono pledges from law firms threatened with either executive orders or investigations from the equal opportunity commission. How this isn't seen as a straight up RICO case or old-fashioned criminal shakedown is beyond me.
> Of course Meta could just withdrawn from the EU.
I mean, probably not without being sued by their shareholders. As a public company, you cannot simply abandon 40bn revenue/year because you feel aggrieved.
But yeah, the "you'd better be nice to us, EC, or Trump might be angry" tactic is kinda shot at this point.
> I mean, probably not without being sued by their shareholders. As a public company, you cannot simply abandon 40bn revenue/year because you feel aggrieved.
What are the laws that Meta would be violating?
Fiduciary duty. It's a high bar, but "we abandoned 25% of our revenue in a fit of pique over our being required to follow the law on consent" probably gets you there.
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>As a public company, you cannot simply abandon 40bn revenue/year because you feel aggrieved.
The fines need to get bigger then.
Most Canadian small businesses rely on Meta to get customers.
If you think these companies don't add value, you are totally oblivious to the millions of small businesses that rely on these platforms to reach customers and niche audiences around the world.
They need a platform, but it doesn't have to be Meta.
Yeah, because small businesses didn't exist before Facebook arrived.
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I've seen too much from the last few years (covid, mostly, but other things) to take much stock in what people are commonly referring to as misinformation
But yeah, I don't like what they do competition wise (Whatsapp seems like clear antitrust) and their products are badly designed (have more things shoved into your feed that you're not following!)
I've worked at most FAANG companies, including Google, Apple, and Meta in the past (not currently).
In my experience working at these companies and diving into the reported incidents/issues (e.g. Batterygate, Myanmar, Cambridge Analytica), I have found that comments like yours present an overly reductive worldview. You are likely entirely informed by ragebait news articles that grossly misrepresent the issues as opposed to a nuanced understanding of (1) the widely reported incidents, and (2) the services these companies provide and those that rely on them to make a living.
No, it would not be replaced "in an instant" with other options, and any other options would quickly evolve into the same state as FB/IG today unless you make targeted ads illegal (which - again - would collapse millions of small businesses and centralize power for wealthy large businesses).
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