Facebook finds the idea of ‘regulating’ news feed unrequited

Facebook deems the involvement from government and regulators as unnecessary and labels the conclusions drawn by the Australian Completion and Consumer Commission (ACCC) inaccurate and even intrusive.

In an unpublished submission to the ACCC’s digital platform reviews, Facebook says they want people and not regulators to decide what they want to see in their news feed.

Facebook argues that the purpose of newsfeed is solely communication between friends and family. Having a government control the newsfeed would affect the user’s preference, specifically the ones based in Australia.

The ACCC recently raised awareness towards Facebook and Google, indicating that the substantial market power of both the companies’ calls for an inquiry of the information shared on their respective platforms.

However, Facebook prefers to be left out of the Australian commissions inquisitive as the social media platform is home to more than 17 million Australian users as well as 11 million that use Instagram.
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In its submission, Facebook said that there is no need for the government to regulate its platforms and claims that the ACCC is misunderstanding the ad content delivered on their platform.

The social media giant also highlighted that ACCC should separate their platform from other digital mediums – claiming Facebook and Google are not the same entity and should not be conflated.

In the post, Facebook clarified that 98% of its revenue comes from selling ads and are aligned with both advertisers and Audience Network publishers. For this reason, the company sees no need for a new Ad Regulator.

Facebook finds the idea of ‘regulating’ news feed unrequited
Photo: Facebook

Facebook also said that ACCC’s proposed tactic would not help journalism become more sustainable but would rather cause a problematic solution by further enhancing competition between publishers.

They also confirmed that the Preliminary Report did not find any evidence of misuse of market power by Facebook. However, the ACCC continues to make recommendations for policy reform.

In fact, the social media giant claims that the news content makes up only 5 percent of a user’s news feed and they disagree with any allegations made by the ACCC.

Nevertheless, Facebook is ‘ready and willing’ to partner with regulators to develop appropriate standards to control unnecessary news and other elements. They, however, don’t want ‘regulation’ of any sort.

Google also mimicked the same apprehension and stated that their business models do not require any type of regulatory scrutiny in Australia.

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