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Should social web be regulated?

Webinar 04.12.2022

India is fighting fake reviews, Meta is sued in the UK, DeepL becomes a unicorn, will Twitter be without hate speech? all and more in this podcast.

In this week's podcast from Egypt Business.com:
India goes against fake

India’s eCommerce is overrun with fake reviews of products. So, the Indian government released a framework to curb these misleading reviews on platforms and social websites. They set up review admins starting 25 November to moderate this content so that fake reviews are impossible.
What do we learn from this? Markets need rules, also the internet should be regulated, especially social web fake news and fake reviews.

Will Twitter be without hate?

Elon musk, dominating the news recently, announced that twitter opened the account of Donald trump and gave amnesty to the accounts that have blocked. In Germany this is already the case since 2020, as it is compulsory to regulate hate speech and delete it on all social media platform in an immediate manner. Twitter will face a lot of legal consequences in case it doesn’t follow the laws, fines can reach $50million for failure to comply.
What can you take away from this? advertisers want moderation, they want a secure environment for their advertising.

Meta is getting sued in the UK

Meta is applying a surveillance-based business model. Which means they earn money with the data from individuals and businesses, and now in the UK and individuals can object to the way their data is being used, supported by the application of the pan-EU GDPR privacy laws, and its local translations.
What can we learn from this? You have to comply with the law otherwise it’s trouble. This will come to Egypt too, in forms of needing permissions for newsletters and cookies.

Retail Vs. Search marketing

Search marketing was rising yearly with 25%, however, this year in September, it fell minus 12%. Companies are turning away from search and using retail media, which is up by 34%. Why? Search marketing is good because people are searching and interested but that doesn’t mean that they will make a purchase. On the other hand, people who visit retail platforms are there in order to buy.
What this means? E-commerce companies won’t go where the people search but where the people buy.

DeepL becomes a unicorn

DeepL, a translation company based in Cologne, Germany. Is now valued at $1 billion, this becoming a unicorn, actually Cologne’s first unicorn! The company was founded in 2017, and currently has 400 employees and among the 100 most visited websites in the world. They made interesting improvements on the network that translates, making their translation 6 times more accurate than other providers.
Google has 133 languages, DeepL has only 29 but well established.
What does this mean for you? Produce texts, even if it’s in Arabic, you will be able to translate.

Torsten Schwarz
Absolit Consulting

Torsten is author of 25 books and one of Germany's leading digital marketing experts. He is keynote speaker and giving seminars and workshops.