By Marshall Auerback / <a href="independentmediainstitute.org/">Independent Media Institute</a>
Source: Read full article at Truthdig
Facebook has chosen London as the center to expand the operations of its WhatsApp messaging service, as the company seeks to establish new methods of monetizing its operations, especially as existing revenue sources increasingly come under political and regulatory attack. The timing of the announcement is as interesting as the choice of venue. Perhaps Facebook is taking a view on the likely outcome of the longstanding Brexit divorce between the UK and European Union, as well as pointing to the kind of economy to which Britain will evolve once the separation is finalized. If the latter points to a country that may become known as a “European Singapore,” effectively embracing a widespread form of regulatory arbitrage, what does that mean for other sectors, notably financial services?
Since the Cambridge Analytica scandal broke, Facebook has been under sustained attack. That the company has not yet encountered a direct legislative/regulatory threat to its overall business model stems largely from the fact that there has been no overriding consensus as to how best to deal with it. Certainly, in hearings with the Facebook CEO last year, Congress displayed…