Apple is now the least-owned Big Tech stock by institutions, Morgan Stanley says
CNBCAug 21, 2023
The Facts
Starting Friday, 19 of the largest digital platforms in Europe will face further legal scrutiny following the EU's implementation of the Digital Services Act, which imposes regulations concerning moderation, user privacy, and transparency.
Platforms affected include Facebook, TikTok, Twitter, Youtube, Instagram, LinkedIn, Pinterest, Snapchat, Amazon, Booking.com, Alibaba, Zalando, Google Play, Apple's App Store, Google's Search, Microsoft's Bing, Google Maps, and Wikipedia.
The Spin
Narrative A
The Digital Services Act allows the EU to wield a new tool against the many wrongs often witnessed on Big Tech platforms. The regulations are a necessary step as Europe begins to strengthen its soft power approach toward major private corporations. Although the internet should not be expected to transform overnight, the new digital borders imposed by the EU will be a net positive in the pursuit of a safer online community.
Narrative B
This Act is unlikely to have a profound effect on the darker corners of online platforms. This legislation contains gaps in its ability to target online extremism, constrain dangerous resources, and moderate the growing influence of social media stars. Furthermore, smaller companies wrapped up in the same box as Meta will lack the resources for efficient implementation. The EU must continue tweaking its law to achieve fairness and consistency.
