The stock of Alphabet Inc (NASDAQ:GOOGL) closed at $1,112.05 gaining 0.17% in yesterday’s trading session. The various social media companies around the globe have been asked to delete illegal content such as calls to violence and the neo-Nazi propaganda.
Failure to adhere to this regulation might lead to any of those companies facing a fine of up to $60 million. And it thus goes without saying that Facebook, Inc (NASDAQ:FB) and Google have tough times ahead in Germany considering that the country has resolved to be very strict in line with the onerous laws set in place to regulate the various social media giants.
The passage of time is witnessing a large number of users misuse the various social media platforms. Such users have been taking advantage of such platforms to spread messages of hate and division and that is attracting the attention of a large number of the world leaders.
Pressure is currently being directed at most of them from all sides. The aim is to have most of them take responsibility of everything that goes on in their respective platforms. The huge fines to be imposed are expected to move along way helping compel them to take up the right initiatives.
An official well conversant with the most recent developments has come forward to say that some of the companies have already started adhering to the directive in a bid to evade the high fines as well as to protect their images.
Most of the social media gurus have formulated new policies to guide the usage of their platforms. Users will be compelled to adhere to some well laid out stipulations failure to which tough disciplinary measures will be imposed upon them.
A top official in the government of Germany said, “We are going to scrutinize the various operations of social media companies and that is to ensure that we guard against polarization and other negative effects. We understand that we might come out as rather tough for these companies, however, we are confident that we will be doing what will be for the general good of our citizens.”