Author Topic: FTC fines Facebook $5 billion  (Read 71 times)

Offline Robert Hancock

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FTC fines Facebook $5 billion
« on: July 14, 2019, 10:35:15 AM »
...over Cambridge Analytica scandal.

FTC—add a 0 to that amount and you'd really compel Facebook to get its house in order.

$50 billion is a penalty, $5 billion is a gnat bite.
g
« Last Edit: July 14, 2019, 06:49:09 PM by Robert Hancock »
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Offline iTmX nee (RevX)

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Re: FTC fines Facebook $5 billion
« Reply #1 on: July 14, 2019, 10:40:49 AM »
I agree, I heard the Dems voted against. Not sure why tho.
"I've seen things you people wouldn't believe."

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Offline Charlie Badenhop

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Re: FTC fines Facebook $5 billion
« Reply #2 on: July 14, 2019, 12:39:04 PM »
Amazing that they can withstand $5billion and keep on keeping on!

That is a lot of dosh!

Offline Morgan Fisher

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Re: FTC fines Facebook $5 billion
« Reply #3 on: July 14, 2019, 01:31:31 PM »
Amazing that they can withstand $5billion and keep on keeping on!

That is a lot of dosh!

Couldn't you keep on keeping on if you were fined a month's salary?

"The largest FTC fine in the history of the country represents basically a month of Facebook’s revenue, and the company did such a good job of telegraphing it to investors that the stock price went UP!" [my emphasis]

More here:

https://www.theverge.com/2019/7/12/20692524/facebook-five-billion-ftc-fine-embarrassing-joke

Morgan

Offline Charlie Badenhop

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Re: FTC fines Facebook $5 billion
« Reply #4 on: July 14, 2019, 01:37:35 PM »
Even Tim could afford a fine of one month's salary!!

:-)


Offline iTmX nee (RevX)

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Re: FTC fines Facebook $5 billion
« Reply #5 on: July 14, 2019, 02:04:22 PM »
YES !!! Since my salary is 0 yen ! Or sometimes 20000 yen if I'm lucky!

FINE me
« Last Edit: July 14, 2019, 07:14:51 PM by iTmX nee (RevX) »
"I've seen things you people wouldn't believe."

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Flight is the only truly new sensation than men have achieved in modern history.  ~James Dickey
"Goddamn, you play a mean banjo"

Offline Jim_S

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Re: FTC fines Facebook $5 billion
« Reply #6 on: July 14, 2019, 05:25:10 PM »
Couldn't you keep on keeping on if you were fined a month's salary?

I could keep going with a fine of one-month's salary, but it wouldn't be a gnat slap. I would feel a bit of pain. But I think there's a bit more to the settlement than that. It wasn't like the Microsoft antitrust settlement years ago where MS essentially had to promise not to do anything wrong in the future in return for not having to admit they had done anything wrong in the past.

Facebook, it seems, will be under a kind of probation for a while. From Microsoft news:

Under the FTC’s new settlement, the consequences for Facebook could be vast: The tech giant may have to document every decision it makes about data before offering new products, keep closer watch over third-party apps that tap users’ information, and require its top executives, including Facebook CEO Mark Zuckerberg, to attest that the company adequately has protected privacy. Facebook had agreed to broad contours of those terms as part of confidential settlement talks with the FTC, the Post reported earlier this year.
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