The news contributed to a $232 billion decline in Meta's market capitalization. Google has announced plans to make major changes to its ...
Google has announced plans to make major changes to its privacy practices for online advertising. They should reduce app tracking on Android devices, following a similar move by Apple, according to CNBC.
The company said it is developing a privacy-focused replacement for its advertising ID. Smartphone digital IDs often help advertising companies track and share consumer data. Such changes may affect large companies that have relied on user tracking in applications. For example, Apple's changes hit Meta particularly hard. It has already been stated that sales of the social network Facebook in 2022 will fall by about 10 billion dollars.
The news contributed to Meta's market capitalization drop by $232 billion in a single day. In June 2021, Meta was worth over $1 trillion.
But at the same time, Meta expressed support for how Google plans to implement its privacy settings. The fact is that Google will continue to maintain valid identifiers for the next two years, which means that other companies have time to make changes.
Ensuring privacy could help tech giant Google avoid regulatory challenges as lawmakers and consumers become more aware and concerned about their personal data. The company also said it would work closely with regulators.
Remember, Facebook Inc. placed ads in major publications claiming that expected changes to iPhone software regarding data collection and targeted advertising are bad for small businesses. The materials talk about the upcoming changes in the Apple iOS 14 operating system, which will limit the ability of companies like Facebook to collect data about mobile users and serve them ads.
Apple Inc. in turn, in November of this year, Facebook accused Facebook of "disregard for user privacy."
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