Following the recent invasion of Russia into Ukraine, several sanctions imposed on the country, with some prominent companies like Meta Platforms Inc (NASDAQ: FB) are halting their services to the country, thus disadvantageous.
Other banned services in Russia include MasterCard Inc (NYSE: MA) and Microsoft Corporation (NASDAQ: MSFT). Russia recently announced that it intends to create and utilize an isolated internet channel, thus hindering all access to tech giants, including Facebook. Sheryl Sandberg, Meta’s Platform Inc (Nasdaq: FB), released a statement saying that the platform is a source of threat to the Russian government, leading to the blocking of services.
Following Facebook’s contributions to Ukraine citizens amidst the war, Russia allocated the platform as an extremist institution. However, the tech guru reiterated by stating that it was not dictator friendly and hence shutting it down won’t be as easy as the government thought.
The South African Government is launching an investigation on Meta
The platform recently added to its number of lawsuits as the South African government issued it for taking advantage of its power. The country’s Competition Commission investigated and forwarded the platform to the country’s Competition Tribunal for reprimanding. Following an investigation, the commission charged the platform and one of its subsidiaries with being anticompetitive, a breach of its trading regulations.
If the Tribunal rules against the platform, Facebook, its parent company, and its subsidiary will remit at least 10% of the collective turnover in South Africa. The baseline of the suit is attached to a messaging service known as GovChat, which collaborated with WhatsApp business API. Consumers used the Application to link up with the government—however, the platform issued GovChat a notice stating its intention to terminate their relationship.
Gaming Mogul criticizes Facebook’s idea to create the Metaverse
The platform is among the major supporters of creating the Metaverse. However, the future platform received criticism from a gaming mogul. Reggie Fils-Aime, the former president of America Inc, recently stated that small businesses should control the captivating Metaverse rather than Facebook and other parent companies. Fils-Aime further stated that the platform was not original as it relied on other people’s ideas to be successful.
