Facebook Meets The New Global Order

Zuckerberg now has to worry about more than just U.S. regulation

Most commentators thought Mark Zuckerberg did well in his testimony before the U.S. Congress last month. Following his appearance, the company’s stock recovered part of its losses from assorted scandals earlier in the year, most notorious of which was the Cambridge Analytica data privacy scandal that brought Zuckerberg to the Hill.

But the commentators make two general errors: first, they tend to assume that Facebook’s problem has to do with data privacy, and second, they seem to think the U.S. still dominates the regulatory world. Neither is true.

Data privacy is merely one of Facebook’s major concerns, which is driven not by U.S. law but by E.U. data protection regulations that will take effect May 25th.

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