Social Media Advertisers Getting A Congressional Spanking?

Can you ever win so much that you end up losing? Google and some of their tech cohorts are having to answer that question as they prepare to testify before congressional investigations into Russia interfering with eh recent election that took place this next upcoming week.

Google and Facebook are two of the heavy hitters in question as they dominate the U.S. digital ad market! Google is at about 40% while Facebook is close to 20% of American internet marketing revenue according to eMarketer.

Ongoing pressure to limit the spreading of false news and to stop foreign influence in U.S. elections could halt funds and raise costs in the future if Facebook or Google have to add further human monitoring to their advertising systems.

Both Twitter and Facebook have already announced plans to make political ads more transparent in line with a bill introduced by Senator Mark Warner and Amy Klobuchar. Facebook said it was adding 1,000 human reviewers to monitor ads. Google has yet to share an official response as to how it will comply with the new rules surrounding political ads.

It's still uncertain if Congress will regulate Google, but there seems to be a newfound willingness to consider such actions as Google should not be left immune while all the other social media moguls are doing their part.

In June Google was hit with a $2.9 billion fine by European Union for hurting competitors. In response, Google changed their product search results in Europe by allowing competitive online retailers to bid for premium spots in search results. EU regulators have said they will keep a watchful eye on whether the adjustment actually gives equal treatment to rivals.

The only recent statement Google has publicly shared is the support "to improve transparency, enhance disclosures, and reduce foreign abuse." Google is also contemplating further steps they could take and is pledging to work closely with congress, etc. to explore the best solutions.

Google is not all about just making money as they are funding (AI) artificial intelligence technology, Pixel phone hardware, Home smart speaker, as well as the Project Loon balloons , which were recently deployed to deliver internet access to hurricane-ravaged parts of Puerto Rico.

Hopefully Google can learn to share and play nice with others and understand that with great power, comes great responsibility!