META Aug 2024 970.000 put
| Previous close | 466.84 |
| Open | N/A |
| Bid | 463.85 |
| Ask | 465.95 |
| Strike | 970.00 |
| Expiry date | 2024-08-16 |
| Day's range | 466.84 - 466.84 |
| Contract range | N/A |
| Volume | |
| Open interest | N/A |
- Yahoo Finance Video
Big Tech-EU regulation battle is 'new chapter in an old movie'
Meta Platforms (META) is under fire by EU regulators who claim the company's ad subscription model is a pay-for-content scheme that requires users to choose between paying a fee or handing over more personal data to use for targeted advertising. Imperial College Business School professor of economics Tommaso Valletti joins Catalysts to discuss Big Tech's regulation issues in the EU. Valletti notes that the European Commission tried to use antitrust laws to curb the market power of some Big Tech companies. However, that approach moved slowly, so they decided to regulate companies under the Digital Markets Act (DMA), which is a new policy that is designed to target companies identified as "gatekeepers." Meta was identified by the Commission as a "gatekeeper" and could be faced with fines for violating the Digital Markets Act in its advertising model. Companies charged under the Digital Markets Act may respond, which would kick off a regulatory dialog. Valletti says, "I suspect that the stakes are so high because the philosophy of the European Commission is that they would like some Big Tech companies to change the business model. So in terms of Meta, it's about data collection. In terms of Apple (AAPL), they have an ecosystem which is completely closed and they want to have a revolution there. But these companies are making so much money that for them, it's better to fight on legal grounds instead of changing the business model." He explains that fines for violating the act are more like a "slap on the wrist" compared to the revenue generation of Big Tech names like Apple, Meta, and Alphabet (GOOG, GOOGL): "Those fines don't really help at all if you want a certain conduct to be changed. And so you have to impose higher fines that DMA has the power to impose up to 10% of the global turnover. So actually this would be fines that hurt more. But then you have to go through courts to see whether this is going to happen or not. To me, it's more important, not that the fines are imposed, but the behavior of firms changes up-front because you don't want to fine people after they drive too fast. You want people to start slowing down." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl
Yahoo FinanceSocial media giants get temporary Supreme Court win but no final clarity on free speech rights
The Supreme Court sent a set of free speech cases back to the lower courts without resolving the question of whether social media giants have the right to block users and certain content.
Associated Press FinanceAI is learning from what you said on Reddit, Stack Overflow or Facebook. Are you OK with that?
Post a comment on Reddit, answer coding questions on Stack Overflow, edit a Wikipedia entry or share a baby photo on your public Facebook or Instagram feed and you are also helping to train the next generation of artificial intelligence. Not everyone is OK with that — especially as the same online forums where they've spent years contributing are increasingly flooded with AI-generated commentary mimicking what real humans might say. “A more significant portion of the population just kind of feels helpless,” said Reddit volunteer moderator Sarah Gilbert, who also studies online communities at Cornell University.
