Big Tech: Former Facebook CEO discusses Australia's landmark media law

05:52 WHAT’S THE ISSUE?Earlier this year, Australia passed a landmark media law forcing digital platforms like Facebook and Google to pay local media outlets to link their content in people’s news feeds and search results.It’s a considerable first step on the long road to regulation but will it set a precedent for making Big Tech to pay for journalism in other countries?Stephen Scheeler, the former CEO for Facebook in Australia & New Zealand joins The Agenda with Stephen Cole to explain how the new law can be seen as a victory for both Facebook and the Australian government. MEET THE EXPERTAs well as being the former CEO for Facebook in Australia & New Zealand, Stephen Scheeler has had over 25 years of experience in e-commerce, media and technology.Scheeler is the founder of global advisory The Digital CEO, a senior advisor to McKinsey & Company, and executive-in-residence at the Australian Graduate School of Management. WHAT DOES SCHEELER SAY?”The dead hand of regulation can impinge on creativity,” says Scheeler, “but monopolies also tend to impinge on innovation.”The key is finding a balance somewhere in the middle, because “we’ve seen that leaving it to self-regulation is probably not the right solution.”We need more…
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