Justin Trudeau Pushes 'Online Harms Act' To Hold TikTok, Meta, Google Accountable
Portfolio Pulse from Ananya Gairola
The Canadian government, led by Prime Minister Justin Trudeau, has introduced the Online Harms Act to regulate and remove harmful online content by holding major tech companies accountable. This includes platforms like TikTok, X Corp., Meta Platforms Inc. (META), and Alphabet Inc.'s YouTube (GOOG, GOOGL). The law mandates active regulation and removal of content that bullies, sexually victimizes children, incites extremism, violence, or hatred. A new regulatory body, the Digital Safety Commission, will enforce rules and handle complaints.
February 27, 2024 | 2:44 am
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NEGATIVE IMPACT
Alphabet Inc.'s YouTube is affected by the Online Harms Act, necessitating improved content moderation practices.
As the act targets platforms with user-uploaded content, Alphabet's YouTube will need to enhance its moderation efforts, potentially increasing costs and affecting its public image.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Alphabet Inc.'s YouTube, under its GOOGL ticker, is impacted by the new Canadian legislation requiring stricter content moderation.
The Online Harms Act's focus on user-uploaded content means Alphabet's YouTube (GOOGL) must invest in more rigorous content moderation, potentially raising operational costs and legal challenges.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Meta Platforms Inc. is directly impacted by Canada's Online Harms Act, requiring stringent content moderation.
The act requires platforms like Meta to actively regulate and remove harmful content, which could increase operational costs and legal scrutiny.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80