Got it. You're changing your assertion now that FB considers its $5 Billion fine peanuts.
That $5 Billion fine also represents 23% of FB profit. Please find me a company leader who would consider that "peanuts."
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Facebook to Be Fined $5 Billion in Cambridge Analytica Privacy Scandal
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Got it. You're changing your assertion now that FB considers its $5 Billion fine peanuts.
That $5 Billion fine also represents 23% of FB profit. Please find me a company leader who would consider that "peanuts."
Hopefully a smack to the forehead for trusting and using FB in the first place. Then another smack for continuing to use it after all revelations of how evil FB is.
Maybe in the echo chamber that is a still a thing, turned out to be just another red herring.And how much does Obama get fined for downloading ALL facebook data?
You’ve heard about his “database”? That’s what it is. But nobody gives a rats about that, do they?
That doesn’t subvert democracy.
“The Obama campaign created a Facebook app for supporters to donate, learn of voting requirements, and find nearby houses to canvass. The app asked users’ permission to scan their photos, friends lists, and news feeds. Most users complied.
The people signing up knew the data they were handing over would be used to support a political campaign. Their friends, however, did not.
The people who downloaded the app used by Cambridge Analytica did not know their data would be used to aid any political campaigns. The app was billed as a personality quiz that would be used by Cambridge University researchers.”
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As many other already wrote, needs to be $50 billion. $5 bn is a joke.
If you suffer from not being able to use facebook THAN you have a dire problem yourself. fb must die as do all the other social networks of our time. They must die to make space for new things. the people involved need to know what fb google etc do with their data and how those informations usually backfire for those who think fb and google do fine.
Honest Question, Do they need to die, or do they need to be more transparent and accountable?
Maybe it is time the Gov't finds people personal information as important as it finds their financials. Maybe it is time for any organization housing significant personal data to get slapped with analogous regulations as the gov't puts on the financial industry. I'd worry that if FB/G/others "died" that we have no guarantee that what replaces them would be any better unless there is a legal reason for existing/future organizations to be better stewards of information then no one will be incentivized to do so. Apple can (as far as we know) be a bit better steward of our information but that's because they are in a different business, they make money on their devices and services not as much from your personal data. If FB/G die then the only chance outside of new regs that would be better in the future, would be to hope that all other business use the same business model. I'm not sure we can bet on that.
If 10 different companies did that it would be enough to put Facebook out of business.
Another article that assumes we’re all American. Should read...”targeted political advertisements during the 2016 U.S. Presidential campaign.”
Still, happy something has been done to curb these data miners.
Still, happy something has been done to curb these data miners.
A (fake) message from the Supreme Leader of the Great United States:
(via http://faketrumptweet.com)
(via http://faketrumptweet.com)
So much this. This settlement is a slap in the face to the American public, nothing short of a complete slap to the face. Disgustingly petty settlement, people should be outraged.
shouldnt that make it go down then? why would the market favor a higher fine?
"saw" as in past tense....
Good news that everyone expected is priced in long before -> hence not news at all
Bad news that everyone expected is priced in long before -> hence not news at all
Bad news that everyone thought would be worse -> kinda good news
US$5 billion is a LOT of money for Facebook to be fined. That represents a good fraction of their liquid asset holdings. Facebook isn't Apple with its US$250 billion-plus liquid asset hoard.
Spoken like an addict.
Think we should roll back any regulation on cigarettes? Think tobacco companies shouldn’t have been punished for lying about health hazards? Many people don’t like these “attacks” on tobacco industry and buyers, and not for any other reason than how it affects their own addiction.
Exactly. I suspect there will be a few pockets with nicer lining somewhere in Congress.
Imagine suddenly giving five hundred billion bucks to the US Treasury these days. The Trump White House would abandon all efforts to pretend it's managing anything but a kleptocracy and just back the trucks up to the back door, load up and haul a$$ to the nearest airports.
So no, $5B is probably the right number. Any more, even $50B never mind $500B, and it would be up in court as cruel and unusual punishment or something. That's probably an option under consideration as it is.
Anyway Trump's not concerned about interference by Russia and would probably love to see competitive bidding for the right of a foreign national to try to buy the executive branch of the US government by supporting an incumbent's re-election prospects. So he'd not favor any of his agencies seriously bashing some company over making a few bucks by letting a foreign national spend a few bucks along those lines.
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For those that enjoy facebook, enjoy but keep in mind that if just about anything is “free” then your the commodity. I have it, I’m embedded in it with friends and family spread across the country and I enjoy it, but I’m careful about what I put out there. You wont find my place of employment or education history on there, political opinions, likes, dislikes, etc, nope.
Let's see: if families worked like "social networks." There'd be speakers that repeated the latest ad slogans all over the house. You'd be reported to advertisers, political organizations. whoever has the 50c to find out the most revealing data you're ever going to get without having agents inside. And then match that all up with any other data set they can get. And they know just how to rile you up. I think $50 billion with some anti-trust stricture would be better. $5 billion to Facebook is chump change. Its stock went up.
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It is not a good use of dots and dashes. The "users" are used. The new billionaires are freeloading on our data. You want my data, pay me.
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It is not a good use of dots and dashes. The "users" are used. The new billionaires are freeloading on our data. You want my data, pay me.
Completely agree here. Whereas, people technically had a choice to provide information to Facebook. You had the choice to not go onto facebook.
You really don’t have a choice with Equifax, as they have your info whether you want them to or not, as well as having more a direct effect on your daily life.
Nothing. But the people themselves... They’re probably still on Facebook not giving a **** about their privacy.