Google has recently taken a similar stance against the draft law, targeting Australian internet users with warnings about claimed 'dangers' to Google services if the legislation is passed.
Following Google's lead, Facebook has now made its own case, saying that the new regulation misunderstands the dynamics of the internet and that assuming the draft code becomes law, will reluctantly stop allowing publishers and people in Australia from sharing local and international news on Facebook and Instagram.
Facebooks threat here is a fairly large deal for Australian citizens and potentially has wider reaching implications for the world, particularly in a climate where social media platforms are trying to portray themselves as a balanced source of current affairs.
A large part of the argument from both Facebook and Google is that they claim the Australian Competition and Consumer Commission the consumer watchdog behind the proposed code has misunderstood the relationship that news media has with social media, particularly that the former is helped by the latter, rather than the other way around.
This means that both tech companies are against the notion of needing to arbitrate the balance of the financial benefits received by both news media and social media.
Other changes proposed in the draft would include forcing both Google and Facebook to provide details about changes in their algorithms to news publishers, a point which both tech titans claim will provide unfair advantages to certain news outlets and therefore upset the countrys balance within the media landscape.
In both Google and Facebooks posts, the companies do concede that they support the notion behind the draft law to help support struggling news outlets but the tech giants are unhappy with how the drafted code proposes to do so.
Original article