Australia recently announced a bill that would require Facebook and Google to pay news publishers for displaying news links on their sites. This would be a change to their business models as historically this content was listed for free. I readily acknowledge the importance of journalism but this law seems an unjust way to address the issue since there is no requirement on where the payments to publishers will go. Facebook isn’t against paying for journalism (Facebook News pays hundreds of publishers) but the company is understandably strongly against forced arbitration.
Very long FB. People on FinTwit hate FB and love story stocks traded at 50x 2025 projected sales.