[In May this year, the EU introduced the most stringent General Data Protection Regulation (GDP R) in history, which clearly stipulates the penalty standards for Internet companies that leak user data, up to 4% of their global turnover. ]
In a recent video interview, Apple CEO Cook said that in view of the recent series of data scandals caused by Facebook and other companies, the government should strengthen the supervision of technology companies. "The free market is not enough for self regulation. We need government intervention." Cook said.
Over the past two years, politicians in the United States have been discussing how to regulate technology companies on a variety of issues, including privacy, political advertising and competition concerns. Marco Rubio, a Republican congressman in the United States, once said: "Technology companies usually grow too fast and get too much positive media coverage. They are arrogant and even think they can surpass others and override the rules."
Facebook has recently been accused of manipulating politics in the Cambridge Ananlytica data leak case and of using Definers, a Republican-leaning consultancy, to influence politics. It is understood that Definers has had a lot of negative reports about Apple and Google in the past. Definers also said it was funded by another technology company, but Facebook denied providing financial support to Definers to suppress competitors.
Cook said this is not a matter of personal privacy and corporate profits or technological innovation. "Although I advocate the free market and am not keen on regulatory policies, we must admit that the free market is no longer able to work on its own, and regulation must intervene." Cook said.
Facebook has also been exposed as instructing employees to abandon the use of the iPhone and switch to Android phones, which the company says is because Android is the world's largest operating system. Earlier this year, Facebook CEO Zuckerberg said that Apple's iMessage was Facebook's biggest competitor for instant messaging tools.
Facebook's multiple infringements of user information this year have raised new concerns about data security. The biggest question is whether Facebook has set up a high enough guardrail for personal privacy to protect users'information security. For example, authorization for user-sensitive information sharing, and authorization for third-party developers to use data openness and visibility, etc.
Professor Shyam Sundar, a data security expert at Pennsylvania University, told First Financial Journalist: "The technology giants like Google or Facebook allow third-party developers to collect user information and provide users with precise services or content. Although users may increasingly want to receive precise service or content push, they are reluctant to sacrifice their privacy.
In May this year, the EU introduced the most stringent General Data Protection Ordinance (GDP R) in history, which clearly stipulates the penalty standards for Internet companies that leak user data, up to 4% of their global turnover. Facebook, for example, earns about $40.7 billion a year in 2017 and will pay a fine of $1.6 billion at a 4% rate.
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