The mind of Snapchat cautioned European authorities on Tuesday that their efforts to protect user information were entrenching the rankings of Internet giants such as Google and Facebook.
Snap CEO Evan Spiegel’s comments in London came three months after the UK parliament published a scathing report accusing Facebook of acting like”digital gangsters” who brazenly violate privacy principles.
The European Union took the lead last year by implementing a strict General Data Protection Legislation (GDPR) policy manufacturing platforms’ access to customer data more transparent and simpler for users to control.
Spiegel known as the European approach well-meaning but possibly self-defeating.
“I believe that a number of the regulation like GDPR, by way of example, might end up entrenching very big players,” he told a business conference organised by The Wall Street Journal.
“If you’re a small publisher now and you would like to run advertisements on your website, it’s very very hard to do this as you’re not at scaleyou do not have a giant ads platform, so you may want to plug into Google, by way of example, or Facebook,” he explained.
“And if you do so, you’re basically going to have to tell your customers that you are promoting your data to Google or Facebook.”
Snapchat is a picture and movie sharing tool especially popular among adolescents.
Spiegel said the cell phone app is frequently employed by 75 percent of 13- to 34-year-olds from the USA.
It now has 190 million daily users about 60 million more than Twitter – but is still working at a reduction.
The Financial Times estimated that the company is going to have to increase new funding in three years if it lasted burning through cash at current prices.
Snap’s inability to create a profit reflects other programs’ struggles to generate ad revenue.
The business is experiencing a thorough re-think that tries to balance growth with a rising backlash against how personal details are bought and sold for targeted ads.