I'm sure this is an unpopular opinion on this platform but I think the US should protect companies domiciled in the US from what amount to a shakedown by foreign governments. Legal protection and representation play a big role in where a company chooses to domicile. That's partly what the taxes are for. It's mostly US stockholders that own these companies. So they're really just screwing over people w Meta in their 401k and pension funds (many of which are public).
Agreed in principle although I'd say screwing over is strong as this will end up as just a cost of doing business in Australia rather than lead to losses.
Every economy should get value for its resources - no country is obligated to sell things unreasonably cheaply - people's time & attention included.
