4/

💰
"Regulation was needed to ensure journalism was properly funded after the digital behemoths took the lion’s share of *advertising revenue* away from traditional media: for every $100 of online advertising spend, $53 goes to Google, $28 to Facebook & $19 to everyone else."
6/

🇺🇸
Facebook and Google are deservedly under intense scrutiny from Western governments because they have an outsized impact on the flow of information to the public. https://twitter.com/sisu_sanity/status/1306103123698757632
7/

Having a monopoly regarding "the control of the flow of information" is no joke. https://twitter.com/sisu_sanity/status/1306103146784141313
8/

Local news has been getting snuffed out. Less diversity, less in-depth investigating, etc. https://twitter.com/sisu_sanity/status/1306103148688310273
9/

It's pretty clear these Big Tech companies are going to be going through some things. https://twitter.com/sisu_sanity/status/1309352766075215877
10/

They aren't going to be happy about. https://twitter.com/sisu_sanity/status/1306103158591107072
11/

People don't think of Murdoch as being involved in the social media arena, but he was. https://twitter.com/sisu_sanity/status/1246987658145955840
12/

Remember Myspace? https://twitter.com/sisu_sanity/status/1246987665754468353
13/

So it looks like Facebook and Google have taken two different approaches in Australia.

Facebook = Fine, we won't allow ANY news unless we get our way.

Google = OK we'll pay, but we'll still have control by choosing who we make these "news" deals with.
14/

🇦🇺
“Facebook’s actions were unnecessary. They were heavy-handed and they will damage its reputation here in Australia,” Frydenberg said on Thursday.

'Facebook was wrong': Australia's treasurer slams social media giant's move to block news https://cnb.cx/3uarvdC 
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