Meta will require permission from its users to serve advertisements based on their personal data, if a confidential EU privacy body has its way.
The European Data Protection Board (EDPB) has issued the agency that overseas Meta one month to issue the ruling.
This is yet another blow for Meta. The company makes around 98% of its revenue from advertising, equating to $27.16 billion in the third quarter of 2022 alone.
Meta attracts advertisers due to its ability to specifically target users based on their geographical location, age, and interests. But the company has been forced to reduce a number of its targeting options recently.
This is to avoid advertisers from targeting users based on sexual orientation, health, religion, and a number of other personal characteristics.
But this recent move from the EDPB is just another blow for the social media giant. The company also having to weather Apple’s iOS 14 update that allowed users to opt out of off app tracking, further reducing the ability for advertisers to specifically target individuals with ads.
Providing users with further control over their personal data is another evolution in the data rights discussion. The issues has been raised in various articles and documentaries, including The Great Hack.
If passed, Meta users will once again be faced with the million-dollar question. Would they prefer tailored ads or ads that may not be relevant?
While regulations around data privacy will continue to evolve, advertising will never cease. This is particularly true for Meta, which relies on advertising revenue for its existence.
Xi Jinping is taking over China’s sharemarket
China’s economy sees President Xi Jinping asserting control over its sharemarket, a move raising eyebrows globally.
Xi’s government has unveiled a series of measures aimed at consolidating authority over the country’s stock market, signalling a desire for greater economic stability and control.
The reforms include stricter regulations for listing on Chinese stock exchanges, with companies needing to meet more stringent criteria to go public.
Additionally, the government is increasing its oversight of foreign listings by Chinese firms, a move seen as an attempt to prevent capital flight.
Investors worry as Tesla misses targets
Tesla reported lower-than-expected quarterly deliveries, sending its shares into a downward spiral.
The EV giant’s stock tumbled as investors expressed concerns over the company’s ability to meet its ambitious growth targets.
In the third quarter of this year, Tesla delivered a total of 220,500 vehicles, missing Wall Street’s estimates.
This disappointing performance raised doubts about the company’s ability to keep up with the soaring demand for its EVs, especially as competitors continue to enter the market. #featured
Is the housing market surge a bubble waiting to burst?
The housing market has witnessed a remarkable surge in home sales, driving property prices to unprecedented highs.
Despite the ongoing economic challenges, the real estate sector appears to be thriving, leaving experts and homeowners both astonished and hopeful.
Over the past year, the real estate landscape has been anything but predictable.
But the surge in demand has been met with a limited supply of available homes.
Builders have struggled to keep pace with the soaring demand, making the situation worse. #featured
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