christopher126

okypinoky said:

Yes - lets give the government 5 billion (as in "billion") dollars.  Because, the Government has always done a wiz-bang job of spending our money.

Curious minds want to know exactly how they plan on spending that money.  Sure as Hell not giving it to any of us.

Why not just shut FB down for 90 days?  Guarantee they would lose more than $5B.

Fines are a joke.  Start shutting down these companies and that will get real attention.

Hmmmm.

I share your outrage.

A little thing, however.... 



(Perhaps, a triviality.) 



...the First Amendment?

anantksundaram said:

I agree with the fine (although, it's a joke that Equifax, to whom we are required to provide far more sensitive information and affected 100% of their customers unlike Facebook's <1% providing voluntary information, was fined only $650M by the FTC), but to get into the workings of a company's board by requiring a special board committee is a significant government over-reach into the affairs of a corporation. It flies in the face of over a century of US corporate governance practice and norms.

I take your point, but Twitter, Fox News account for, roughly, 12M people.(10M on twitter and ~2M on Fox News.)

FB has ~2B people.

I worry, FB has a more deleterious effect on Democracy.

Am I wrong?

P.S. Cambridge Analytica had ~87,000 users ascribe to their little 'survey,' but, b/c FB requires users to give up their contacts list, it ended up accessing 85M users.

MacPro said:

christopher126 said:

They need to add a 'Zero' to make it a 50B fine. Only way FB will change their awful ways!

FB has 40B in cash, they would have to borrow 10B. Stock would drop by 2/3's and so would Zuck's wealth.

If that happened, they would have all the problems fixed in 10 days!

Increased teen suicide, especially among you girls, visits by young girls to emergency rooms for 'cutting' up 70%. Russians buying ads, Cambridge, data breeches, Myanmar genocide, etc., etc. 

FB is like the cigarette companies of the 90's.

I disagree ...  they should have added two or even three zeros.

I like the way you think...All I ask of corporations is, transparency, decency and to be a good citizen of the world.

They need to add a 'Zero' to make it a 50B fine. Only way FB will change their awful ways!

FB has 40B in cash, they would have to borrow 10B. Stock would drop by 2/3's and so would Zuck's wealth.

If that happened, they would have all the problems fixed in 10 days!

Increased teen suicide, especially among you girls, visits by young girls to emergency rooms for 'cutting' up 70%. Russians buying ads, Cambridge, data breeches, Myanmar genocide, etc., etc. 

FB is like the cigarette companies of the 90's.

payeco said:

teonyc said:

MplsP said:

rob53 said:

I'm trying to figure out why Democrats objected to the fine and/or amount. From what I remember about this fiasco, it was pretty clear cut what Facebook did and the way they abused all sorts of things. I'd like to know why each political party felt the way they did. 

Yeah, I noticed that too. For a partisan split it was opposite of what you typically see. The reasons I can think of:
- fine too big
- fine too small
- there was no other ongoing punishment or action to change the operations
- they did it just to be partisan and vote against the republicans
- they're totally find with Facebook's lack of respect for people's privacy
- Mark Zuckerberg was a big campaign contributor.

A simple search of any number of other articles (from Politico to the WSJ, to NYT) would have given you the answer: It was because the fine was too low. It was a gift and won’t do anything to deter future problems.  

The cost of violating the privacy of millions of Americans: $5 billion

The cost of helping to undermine democracy: priceless

Yep, Zuck has to go