With tumbling stocks, the tech giants are weak – 2023 is the year for Canada to regulate
. The fourth wall is broken, with stark reminders that these are profit-seeking enterprises that don’t have the public interest at heart. In fact, the firms are becoming more aggressive in trying to generate profits.
Now, Canada is right to attempt the same through Bill C-18, to make social-media platforms pay for what they have profited immensely from: the news shared on their platforms. And Facebook’s attempt to make the same old empty threat is baffling.in October that it would ban news, in retaliation for not being called to testify before a parliamentary committee. But Meta needs people to use its platforms so that it can continue to court advertising dollars.
Perhaps this context of a changing business climate will give regulators more courage to continue to move forward with the suite of bills intended to introduce new standards in Canada’s digital economy. The change could also inspire managers of legacy news media organizations that have engaged in pre-emptive side deals directly with big tech firms to walk away from secretive bespoke agreements in favour of consistent, predictable income under Bill C-18.
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