BigTechRegulation

💥The European Union has fined Apple and Meta a combined 700 million euros (around $800 million) for violating its new Digital Markets Act (DMA), which aims to curb Big Tech’s dominance and encourage fair competition. Meta received a 200 million euro ($230 million) penalty over its “pay or consent” system, forcing EU users to either pay for ad-free Facebook and Instagram or accept targeted ads. Apple criticized the EU’s actions as unfair and harmful to user privacy, while Meta accused the EU of targeting successful American companies with stricter rules. The White House condemned the penalties, calling them a "new kind of economic extortion" and vowed not to accept them.

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