The Twists of the Future of Social Media –

In a surprising turn of events, US mega social media platforms Twitter and Facebook have deleted hundreds of accounts that posted significant amounts of pro-Western propaganda, a move from their usual tactic to target non-Western countries.

Twitter announced it was removing a series of accounts it says violate its spam and disinformation policy, while also demonstrating what it calls “coordinated inauthentic behavior.” The accounts were mainly targeted at other users in non-Western countries in Asia and the Middle East. It went on to explain that, according to Forbes, the content promoted the interests of the US and its allies while criticizing China, Iran and Russia.

Working with private investigators and those at Stanford University, Twitter analyzed the content and found it to be an example of the most elaborate covert pro-Western operation ever. They added that their work has usually focused on addressing misinformation related to countries embroiled in conflict or under authoritarian or undemocratic governance.

Twitter’s problems

But the final decision sees the tables turn. This is likely to affect Twitter’s already precarious market position. Over the past few months, Twitter has lost billions of dollars in value due to a series of problems.

These include plans to take it over by Elon Musk, a subsequent pullout, and a series of issues related to free speech and how it’s run. Facebook has been through the same thing. In February 2022, Facebook lost $232 billion in the stock market, a record.

This has been disastrous for shareholders, but it has also opened up plenty of opportunities for investors who use trading platforms such as INFINOX to trade stocks, speculate on indices or price changes, and deal with other assets. Sharp moves in the market when it comes to tech giants meant opportunities for good deals and also long-term price speculation, especially on online platforms that give easy access to 24-hour training.

While the fate of both companies has improved somewhat since earlier this year, things are not going smoothly. Both companies are embroiled in numerous legal and regulatory proceedings in the US and Europe covering everything including antitrust, infringements, data privacy, discrimination and even false advertising.

The twists and turns of the future of social media

EU law

According to EU policy media EURACTIV, the upcoming EU legislation, which aims to rule the big tech and provide them with a set of obligations designed to limit their power and protect end users, would further complicate their future and fortune. .

The Digital Services Act will regulate a range of issues in the social media world, including dark patterns, illegal content and threats to public safety. The European Council agreed on the text of the law earlier this year, while the final law will be implemented in due course. It will then be implemented across the entire 27-member bloc and in potential candidate countries, such as those in the Western Balkans.

The Digital Services Act and the parallel Digital Markets Act aim to “create a more secure digital space protecting the fundamental rights of all users of digital services” and “create a level playing field to foster innovation, growth and competitiveness, both in the European internal market and globally”, according to the European Commission.

Areas covered by the Digital Services Act include taking meaningful action against misinformation, transparency with political advertisements, addressing hate speech, and banning users from making decisions they would not normally make. It allows social media users to opt out of behavioral and micro-targeted advertising algorithms. Major platforms such as Facebook and Twitter will have to prepare annual reports on the risks of their services and then submit them to the Commission.

Finally, sites with more than 45 million users per month will be supervised by the Commission rather than the authorities in the country where the platform is based. This means that the EU will set up a dedicated directorate to deal specifically with social media platforms and issues.

Failure to comply with either law and its provisions results in huge fines of up to 6% of their worldwide sales. That’s a lot of money for the social media giants, amounting to billions of dollars. However, the US has yet to catch up with its own package.

One thing is certain: social media has become more powerful than anyone could have predicted. If we go back to the days of MSN Messenger and Myspace and compare it to the multi-billion dollar industries that have emerged from platforms like Twitter, Facebook, Instagram, TikTok, and YouTube, it’s no surprise that authorities are bringing them in. more power and influence than many media, even for governments, social media has taken on a life of its own.

While it brings many good things to society, such as bringing people together and providing access to information and community, it is becoming increasingly clear that monitoring is indeed necessary.

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