Meta Goes After Twitter Users, EU Regulators Go After Meta
Portfolio Pulse from Upwallstreet
Meta Platforms (NASDAQ:META) has launched a Twitter-like app, Threads, which has quickly gained popularity with 10 million users in one day. The app is linked to Instagram accounts, potentially reaching over 100 million users in the US. However, Meta is facing regulatory challenges in the EU over its use of personal data for online advertising. The EU's top court ruled that Meta cannot justify its use of personal data for ad targeting without user approval. This ruling could have far-reaching implications for other tech companies like Alphabet Inc (NASDAQ:GOOG).
July 06, 2023 | 3:59 pm
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NEUTRAL IMPACT
Meta's new app, Threads, could potentially boost its user base and engagement. However, the EU's ruling on data usage for ad targeting could force Meta to change its business practices, potentially impacting its revenue.
While the launch of Threads could potentially increase Meta's user base and engagement, the EU's ruling on data usage for ad targeting could force Meta to change its business practices. This could potentially impact its revenue and profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The EU's ruling on Meta's use of personal data for ad targeting could potentially impact Alphabet, as it also relies heavily on data for its business model.
The EU's ruling on Meta's use of personal data for ad targeting could potentially impact other tech companies like Alphabet, which also rely heavily on data for their business models. This could force Alphabet to change its business practices, potentially impacting its revenue and profitability.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Meta's strategy of copying successful features from other platforms, like Snap's Snapchat, could potentially impact Snap's user base and engagement.
Meta's strategy of copying successful features from other platforms, like Snap's Snapchat, could potentially draw users away from Snap, impacting its user base and engagement.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50