Description: Facebook is apparently unhappy with Australia’s efforts to have tech companies pay for news content on its feeds. In effect, Facebook has blocked sharing of Australian news on the platform in an attempt to convince Australia’s parliament that it has taken the wrong path. Don Pittis of CBC News wonders if Western democracies will have to come up with some sort of joint action to deal with the tech giants.

Date:  February 19, 2021

Source:  cbc.ca

 Link: https://www.cbc.ca/news/business/don-pittis-facebook-australia-governments-gang-up-1.5919005

Discussion points:

1) Were you aware of this controversy? What is your opinion of the action taken by Facebook?

2) What do you think Western democracies should do to address the decline of the traditional news media?

3) On page 8-12 of Wiley’s Financial Accounting: Tools for Business Decision-Making, the inset “Accounting Matters” box discusses a controversy around using social media, like Facebook, to attempt to reach consumers who are overdue on their accounts. If you were a credit manager trying to collect on overdue receivables what methods might you use?