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Meta would be considering ceasing its operations in Europe
Once again, Meta is in the eye of the hurricane due to different lawsuits it has had due to privacy problems on the platform. This has led the company to issue a statement in which it threatens to stop operating in Europe.
Mark Zuckerberg 's company is not at its best, in fact, according to reports, the company has lost around 36 billion dollars due to a decline in its shares.
The truth is that at the moment, the company is not generating enough confidence in investors. This is due to different factors, but one of the most notable is that they do not see the metaverse as a safe bet.
The European Union and the laws around privacy
The European Union, for some years has advanced laws and work for the privacy of users. One of the restrictions that have been implemented is to prohibit data collected by companies operating in European territory from leaving Europe.
In other words, with this restriction, Meta will not be able to send information from European users to its servers in the United States. This would prevent the company from analyzing the data accurately and as they have done so far.
This is something that makes the company unable to display advertising efficiently to European users. Let's remember that Meta's headquarters are in the United States and that is where the main servers are located.
The possible closure of Facebook and Instagram in Europe
According to a statement issued by the company, in the event that no action is taken, the company will not be able to handle the data effectively. This could mean the closure of some products in the European territory including Facebook and Instagram.
Most likely, this is a move by the company to put pressure on European governments. And it is that the closure of these platforms in Europe would not only mean a hard blow to the Meta, but also to many people and companies.
This is not the first time that the company has threatened to close its operations in Europe. The first threat occurred in 2020 and nothing happened, the company continued to operate normally.
A company with a bad reputation
Another thing to mention is that the company, despite everything, has a bad reputation, not only in Europe, but throughout the world. Meta has been accused many times of privacy abuses and has received millions in fines.
And this is something that has been reflected, even in its financial statements. In any case, we will have to wait to find out if they are just threats (most likely) or if the company is really capable of closing its services in Europe.
