“Facebook and Amazon, Now Slightly Less Omniscient”
The Power Players Break a Sweat
It seems like the big wigs at the Competition and Markets Authority (CMA) in the United Kingdom just handed down a dose of humility for Facebookâs parent, Meta, and the online leviathan, Amazon. Both behemoths received a friendly nudge to put some restrictions on how they wield the power of data harnessed from their vast marketplaces. Their omnipotence, slightly less omnipresent?
A Shield in the Data Wars
You know you’re cruising on shaky grounds when even regulatory bodies start questioning how you get your kicks. Or in this case, data. The CMA has been putting Meta and Amazon under the microscope in separate investigations. These cases may have been distinct, but it turns out they share a common denominator of potentially over-stepping boundaries with data use. Turns out data really is the new oil! Albeit, a slightly leaky one.
Hot Take:
If you’re wondering what this grand adjustment means for you and me, it’s like when the school bully promises to stop stealing your lunch money but still gives you a noogie. Meta and Amazon are saying “We’ll stop doing one unfair thing (wink, wink), but don’t mind us as we go about dominating the market in a gazillion other ways”. The savvy consumer might still remain skeptical – after all, an elephant doesn’t forget and a leopard doesn’t change its spots. At least, that’s what I’ve heard at the zoo. Save the elephants, spot the leopards, and watch this space!
Original article: https://techcrunch.com/2023/11/03/uk-cma-amazon-meta-facebook-marketplace/
