Is this the beginning of Europe setting global rules for tech companies?

The European Union has ordered Apple and Facebook parent Meta to pay a combined 700 million euros in fines, the first punitive actions taken under the Digital Markets Act – legislation designed to curb the power of Big Tech.

The European Commission is fining Apple 500 million euros for failing to provide alternative app marketplaces for users and app developers. Meta was ordered to pay €200 million for violating its obligation to allow consumers to choose a service that uses less personal data.