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EU fine on Meta might have far-reaching effects

By Yugocean | Business Champion | 23 May 2023

     The European Union has fined Mark Zuckerberg's company Meta $1.3 billion for breaching data rules after it was found guilty of sending Europeans' data to the US. This might have far-reaching effects.

Google may be on target.

     The fine imposed on Meta is telling that, under the rules of the European Union, the privacy of Europeans has been taken care of in such a way that their data does not go out of Europe. Then it can also be understood that Google can also come under the EU's target at any time.

Meta Might Go Down

     Meta is currently facing economic problems. The company has already laid off thousands of workers to cut costs, and thousands of jobs are still at risk. If Meta cuts more expenses to cover this fine, this company will either be closed due to a lack of staff or due to excess expenses.

US-Europe relations may deteriorate.

     America is deeply in debt; companies are closing, and jobs are being lost. At this time, if Meta or any tax-paying employer company is shut down by the decision of the EU, then it will affect the US economy as well. This does not bode well for the relationship between the US and the EU.

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