GDPR Scramble, FOMO And More In This Week’s Friday Download
May 25, 2018
By FTI Consulting
The day of reckoning is finally here, after many meetings, consultations, opt ins/outs, GDPR has finally come into effect. Whilst the European Parliament has given companies a two year run-up to this day it appears that many have been leaving their homework to the last minute. A year ago, 61% of companies had not started the process of GDPR compliance and so the last few months have been a mad dash to implement a programme for a law which most are baffled by.
The temptation to cringe whenever we hear this dreaded acronym and put it off to tomorrow will result in almost half of companies in the US and EU not meeting today’s deadline for compliance. Unfortunately, burying one’s head in the sand is not an option here as GDPR fines are no joke, the highest penalty of 4% of global revenue is easily enough bankrupt some companies.
The laggards’ saving grace might be that regulators seem to be equally unprepared for the regulation to come into effect. The law will not be overseen by a unified authority but rather by a collection of national and regional watchdogs across the EU. According to a Reuters survey, 17 of 24 watchdogs who responded stated that they did not have the necessary funding or authority to enforce the law. The general disarray may provide a reprieve for companies still getting their house in order yet we suspect that this period may be brief and we should still ensure we dot all the i’s and cross the t’s.
Washington To Brussels
Having faced the US Congress and Senate last month (if you missed it fear not the Friday Download has got it covered) and emerged largely unscathed, Facebook CEO, Mark Zuckerberg was back in the hot seat, this time in front of the European Parliament.
Once again in the spirit of transparency Zuckerberg agreed to have the whole thing live streamed, which meant that our Friday Download team were pulling out the popcorn and notebooks. The MEPs were significantly more prepared for the hearing having watched their American counterparts in June
They asked sophisticated questions on topics which went beyond Cambridge Analytica, to focus on data privacy, GDPR compliance, online bullying, hate speech, fake news, electioneering, competitivity and regulation. Yet despite numerous poignant questions, an odd format which left Zuckerberg limited time for a rebuttal meant that the hearing was ultimately an empty spectacle. Zuckerberg has promised that his team will follow up on the questions asked by MEPs. However, the main takeaway from the hearing is that the European Parliament is clearly knowledgeable on potential issues that Facebook is facing and is intent on acting on it… watch this space!
The new feature will let users know when they’ve seen all the new posts on their feed, thereby potentially prompting people to close the app. The move has been prompted by research that showed “zombie browsing” – continuously scrolling through the same content – is bad for your mental health. Although the feature could hurt Instagram’s bottom line as users will see less advertisements, it does demonstrate the app’s commitment to its users’ welfare and the long-term sustainability of the platform. As publishers and social media users it is helpful for us to be aware of the mental health challenges and benefits of each platform, check out this infographic from The Economist to learn more.
Also This Week
Tesla CEO pitches site to rate journalists – USA Today
WeChat removes short-lived ban on all mainstream video and music platforms – TechNode
President Trump’s phones are reportedly still vulnerable to hacking – Mashable
Russian agency offers fake restaurant reviews ahead of World Cup – Reuters
The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting LLP, its management, its subsidiaries, its affiliates, or its other professionals, members or employees.
FTI’s digital practice in EMEA operates as a centre of excellence for digital communications within the firm and is staffed by a team of practitioners with industry experience of consumer, corporate and financial communications. The team runs an active portfolio of multi-sector brands and partners with FTI’s teams and clients to provide a wide range of online reputation management services.