Google designs privacy transition identical to Apple's, swabbed $230-billion off Facebook's market-cap
Key takeaways:
- Google on Wednesday declared it's adopting new privacy constraints that will cut tracking across apps on its Android gadgets.
- The Alphabet-owned firm stated it is creating new privacy-focused substitutes for its advertising ID, a unique series of characters that determines the user's device.
- It tracks a similar move driven by Apple the previous year that upended advertising practices.
Google's new privacy transition:
Google on Wednesday declared it's embracing new privacy rules that will cut tracking across apps on its Android gadgets, following a similar move created by Apple the previous year that upended some companies' advertising practices.
Google stated it's designing new privacy-focused substitutes for its advertising ID, a unique series of characters identifying the user's device. The digital IDs in smartphones often help ad-tech firms track and share data about customers.
The changes could impact big firms that have tracked users across apps, like Facebook parent Meta. Apple's adjustments pounded Meta quite hard, for instance. Meta stated before this month, Apple's privacy modifications would reduce the social media firm's sales this year by nearly $10 billion. That news donated to dabbing $232 billion from the firm's market cap in a single day, yet pushing the sum below $600 billion. Previous June, Meta was worth more than $1 trillion.
But while Meta battled against Apple's transformations, it expressed support for how Google intends to enforce its privacy tweaks.
″[It is] inspiring to see this long-term, collaborative system to privacy-protective personalized advertising from Google," Graham Mudd, vice president of product marketing, ads, and business at Facebook, stated on Twitter. "We look on to continued work with them and the industry on privacy-enhancing tech through enterprise groups."
Google stated it would persist in supporting the existing identifiers for the following two years, which indicates other firms have time to enforce modifications.