Google recently announced that it will be taking further steps towards privacy on the web. The North American company will develop new technologies that better protect the data of consumers who use the network, changing the current device that is often used by companies to collect information from users.
The measure is very similar to what Apple has been doing. The brand began sweeping changes related to security and privacy as early as last year. At the time, the company released an update to iOS, the iPhone’s operating system, in which users would have to give permission for applications to monitor their activities.
While the move may be excellent news for Google users, the scenario is not so good for Mark Zuckemberg, CEO of Meta. Last year, the company of the creator of Facebook lost about 240 billion dollars in market value after Apple’s privacy measures.
Now, with the new system updates announced by Google, the situation is even more complicated for Zuckemberg. It turns out that Meta collects most of its revenue through advertising within its social networks, such as Facebook, the first network created by the company, or Instagram.
With users having the option to prevent applications from tracking their activities, access to Meta information is greatly reduced. According to Meta’s CFO David Wehner, the overall impact of iOS-related measures on business in 2022 is around $10 billion.
At the time of Apple’s announcement, the market was on alert with the changes. In just 24 hours, Meta lost 26% of its market value, the biggest drop in the company’s history. The drop, however, is not only related to privacy measures, but also to the drop in users that Facebook has recorded recently.
Since the beginning of the year, the company has had a 36% drop in its market value on the American stock exchange, going from 1 trillion to less than 600 billion dollars. It is still too early to say to what extent the changes adopted by Google will affect Zuckenberg’s company, but the drop was not as big as in the iOS update.
Facebook Vice President of Marketing Graham Mudd commented on the steps taken by Google:
More details and information about Google’s new privacy measures and how the market will react to them should come soon.
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