Funny how only Facebook is making these statements? I am sure that a multitude of other services (Dropbox, Twitter, etc) also require data transfer between Europe and the US. /s
Oh yeah, because they need the data to make money.
AFAIK, other companies will suffer as GDPR really gets enforced, but some of them have already set up their infrastructure to do the data processing they need in the EU, and they still make money.
They (Meta) would need to process data in the EU, or lobby the US congress to pass serious data protection laws. When push comes to shove, the first one is possible (though expensive), the second is a pipe dream.
"Meta may choose to shutter Facebook, Instagram in EU"
It's not like they're forced to financially. They just know they'll be making less money and have to increase spending. It's still going to be lucrative, just less so. An even better title would be: "Meta threatens to shutter FB, IG in attempt to overturn consumer protection legislation."
Readit News
Thus I would welcome the EU kicking as much Meta corporations into the nuts as possible.
After that, pick either Google or Samsung. Not any better.
Oh yeah, because they need the data to make money.
They (Meta) would need to process data in the EU, or lobby the US congress to pass serious data protection laws. When push comes to shove, the first one is possible (though expensive), the second is a pipe dream.
I want to see the collateral calls cascade from people that borrowed against their shares
Any bankers or employees got insight on where large numbers of insider liquidations would be at?
How about when their revenue is cut by a third alongside the market no longer accepting such high revenue multiples for the shares.
It's not like they're forced to financially. They just know they'll be making less money and have to increase spending. It's still going to be lucrative, just less so. An even better title would be: "Meta threatens to shutter FB, IG in attempt to overturn consumer protection legislation."