Are the tech oligarchs more powerful than most of the nations of the world? Based on the actions of Facebook hours ago, it appears that Mark Zuckerberg thinks they are.
We are seeing a test case unfold as Australia, the continent-sized advanced nation with a population of 25 million, has been blindsided by Facebook during a dispute over legislation requiring tech giants including Facebook and Google to compensate Australian news outlets for content it features. Australian news media have seen “a 75% decline in advertising revenue since 2005, according to the government,” and with their survival in question, the government there has sought a cut of the vast advertising profits reaped by the Big Tech firms that feature their content.
Alexis Carey of News.com.au reports:
Facebook has responded to a proposed new law by banning Australian users from reading or sharing news on its platform.
The stunning decision was made in retaliation to Australia’s proposed new Media Bargaining law, with the federal government pushing forward with a plan to force social media giants to pay for news content.
Read the full story from American Thinker
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