Meta's Facebook and Instagram both use "addictive design" that could fall foul of the European Union's new Digital Services Act, and the European Commission has already preliminarily found Meta's iPhone apps are in breach of its rules.
EU regulators say Meta's Instagram/Facebook "addictive" features may breach the Digital Services Act, risking fines up to 6% of revenue--read the findings.
Meta's stock is down more than 7% year to date. The company spent much of this year defending its decision to pour hundreds of billions of dollars into AI infrastructure, and investors who followed the Q1 earnings call on April 29 watched the stock ...