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It seems that Europes attitude is mostly "Don't let the door hit you on the way out". Good to see Europe sticking to privacy principles.
As a European: I never had a Facebook account, yet they seem to have my data (ilegally). I can't find out without sending them more data. Why are these people still walking free?
If you as an individual made an app that collected all contact information from people who installed it, you'd be in jail by now. Facebook (and others) have done that for years and are walking free (and rich, at that!).

This is the morals of the capitalist system: if you're already rich or powerful, you can do pretty much anything to the rest of us.

“Anacharsis, accordingly, on learning what Solon was about, laughed at him for thinking that he could check the injustice and rapacity of the citizens by written laws, which were just like spiders' webs; they would hold the weak and delicate who might be caught in their meshes, but would be torn in pieces by the rich and powerful.” - Plutarch. Plutarch's Lives [0].

[0]: http://www.perseus.tufts.edu/hopper/text?doc=Perseus:text:20...

I wouldn't say it's "waning". This is more an over-estimation of their own self-importance by specifically Facebook. They're a net negative on society. If they left Europe I'm sure most European leaders would say "please do, and thank you".

If for example Microsoft would have said the same thing the reaction would have been very different.

It hints at Europe performing yet another economic suicide.

No one wants to live in a museum.

If Facebook is supposed to be a pillar of modernity then call me an Amish.
You seem to have a weird definition of suicide, considering the economy is still alive and well.

Meanwhile there's no sign that any tech giant will ever be more than a short blip in our history. Not sure why we should sacrifice our privacy so a shameless parasite lives a few years longer.

> It hints at Europe performing yet another economic suicide.

Foreign companies are:

1) Taking away valuable citizens data

2) Taking away ad money

3) Not paying taxes

If anything it's an economic suicide to support the status quo.

A lot of businesses rely on Facebook/Instagram for marketing, keeping in touch with customers etc. Those disappearing would kill them pretty quickly. Even if they start making their own self hosted websites no one will find them (and it will incur costs and it will be of shitty quality).

Facebook leaving is a huge threat. I think you are underestimating how big a role it (or its other services) play in people's lives. If FB/Messanger/Instagram/Whatsapp disappear today in some European countries and the government's explanation was "we didn't manage to make an deal" I don't think that government would last for much longer.

That sounds like Facebook propaganda. Business was fine before they arrived and will be fine if they leave.
There is just way more business now. Those businesses choose to host their website, information and communication with customers on FB/Instagram. They think it's profitable for them. It's a very arrogant view to think they are all wrong.
True,it will probably have an economic impact. Still, there are several ad options/platforms still available (Google, Tiktok,...) so one would hope that a sizeable amount of the businesses would be able to move their ad campaigns to those instead.
This reminds me of employees who think their employer will collapse when they leave. It's rarely true.

The world would be fine without Facebook, other people will step in to fill the void.

> It's a very arrogant view to think they are all wrong.

It is also correct. Every European company using FB/IG are acting illegally. It is only illegal if you get caught. So, just like speeding or overloading your truck using FB gives you an advantage until you are caught.

It was farcical. The almost universal reaction seemed to have been "ok, bye".
> The other alternative would be for Meta to change its business processes to comply with the relevant orders from the European Court and the General Data Protection Regulation of not sharing EU citizen data with a US entity.

Please correct me if I'm wrong, but wasn't one reason this thing is such a headache that, right now, there is no way for US companies to do this?

Because US companies are subject to the CLOUD act, they can be ordered to hand over user data to US agencies, whenever this data is under the company's control. It's irrelevant if the data center is located in Europe, the US or anywhere else, as long as the US company has control over it.

If Facebook could solve this issue by simply doing their behaviour targeting inside EU datacenters, I doubt they would write this down even as a risk, let alone as strange veiled threats.

That was just my understanding of the whole issue, which might be wrong though.

Sorry I might not be understanding. Your suggestion seems more reasonable, but I don't understand how other large companies wouldn't be in the same situation as FB if this would be the case. Is FB just the first one to notice?
> I don't understand how other large companies wouldn't be in the same situation as FB if this would be the case.

Good question. My understanding was that they are - hence the recent headlines about GA being illegal.

"News site's constant negative of ad-competitor Facebook hints at waning news influence."

Don't get me wrong, I don't care for FB's product, but the constant coverage is a bit pathetic.

FB are required to disclose all sorts of low probability risks to investors.

Well all mainstream media networks compete with FB for eyeballs so its natural for them to cover them negatively, its in their best interest to do so.