TECH NEWS – As they try to impose more and more regulation on the big tech companies (at least in the European Union), it’s no wonder that Mark Zuckerberg hasn’t escaped a big fine, which will still be peanuts for them considering how much money they make all the time.

Google is currently the subject of several investigations, and meanwhile Meta has found itself in the crosshairs of an antitrust investigation in both the United States and the European Union. As a result, the company, led by Mark Zuckerberg, has decided to open up the Facebook Marketplace (or the social platform’s marketplace). In Europe, Meta was fined 797 million euros, which is not a coincidence…

Reuters reported that Meta favored its own services, leaving rivals with little chance, in violation of antitrust laws. As a result, the Facebook Marketplace has been opened up to allow other advertisers to list on the platform. The Facebook Marketplace Partner Program is essentially a direct response to the EU’s decision. The EU says the company is not being fair in its business practices, which puts its competitors at a disadvantage. Zuck has previously claimed that European regulations are aimed at US tech companies in order to protect companies from within the EU.

There is more tension between tech companies precisely because of the European Union’s strictness. Google, Amazon and Apple are all under pressure as a result. In January, Meta tested its program with eBay in Germany, France and the US. While the company is trying to meet the requirements of the EU antitrust ruling, the EU will continue to monitor whether Meta fully complies with the November 2023 ruling.

Such initiatives are essential, as regulators are becoming more aggressive in pursuing violations and levying heavy fines. Companies need to be more vigilant in their antitrust compliance to avoid (further) legal complications.

Source: WCCFTech