If things don’t work out, then Meta can shut down Facebook and Instagram in the entire Europe!
How did this happen? And why?
Keep reading to find out more..
Facebook, Instagram Can Shut Down In Europe
In a statement issued to the Securities and Exchange Commission in Europe, Meta (parent company of Facebook and Instagram) has informed that very soon, they will have to shut down their operations in Europe.
This talk about shutting down operations came in, after Facebook realized that they may not be able to fulfill the strict guidelines imposed by the European Union with regards to data storage and data usage.
In the report issued to Europe’s Securities and Exchange Commission, Meta said,” If we are unable to transfer data between and among countries and regions in which we operate, or if we are restricted from sharing data among our products and services, it could affect our ability to provide our services, the manner in which we provide our
services or our ability to target ads, which could adversely affect our financial results.”
If this happens, then there will be no Facebook or Instagram for all Europeans!
What’s The Issue All About?
As per the new guidelines issued by the European Union, every company operating within the boundaries of Europe must store and process the data, inside Europe.
Hence, Facebook or any other company operating in Europe should store all data related to Europe in Europe.
However, Meta stores their data in Europe and US, for running their social media and advertisement business.
In case they will need to shift all data inside Europe, it can cripple their entire operations, and business will suffer.
Hence, to avoid this, Meta has suggested that they will better shut down in Europe.
Meta’s VP of Global Affairs, Nick Clegg added that in case Facebook is ‘forced’ to shut down their business in Europe, then a lot of small businesses in European countries will suffer and make losses, in the absence of their advertisement platform.
More details are awaited.
Comments are closed, but trackbacks and pingbacks are open.