Facebook parent company Meta has a fit over new California Bill

Daniel 12:4 But you, Daniel, shut up the words and seal the book, until the time of the end. Many shall run to and fro, and knowledge shall increase

Important Takeaways:

  • Meta threatens to pull news posts from Facebook, Instagram if California bill becomes law
  • Meta, the parent company of Facebook and Instagram, has threatened to remove news posts from those social media platforms should Assembly Bill 886, dubbed the California Journalism Preservation Act, become law.
  • The measure, authored by Assemblywoman Buffy Wicks, D-Oakland, would require social media companies, including Facebook, Instagram and Twitter, to pay a monthly “journalism usage fee” — to be determined through an arbitration process — based on the social media platform’s monthly ad revenue.
  • The money would go into a fund for payments to the companies that produced the content. Media companies would be required, under the proposed law, to spend at least 70% of that money on journalists and support staff.

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