EU’s Competition and Digital Affairs commissioner Margrethe Vestager said the region must adapt and react to new market dynamics in the digital era.
The EU criticized FB marketplace, which is a social media site and an e-commerce platform. Meta could cough up 12 billion in penalties if convicted.
Mark Zuckerberg’s company is one of the frontrunners in the emerging metaverse industry. Facebook lost $14 billion in 2022 through its metaverse and virtual reality division.
Vestager and her team plan to go after Meta. This could lead Meta to some serious legal issues. Right after it spent billions of dollars to get ahead of the competition.
