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This is probably the third investigation against FB this week. How do we still continue trusting it with our personal data? I have been equally stupid in sharing freely on FB/Instagram, not anymore.
I'm glad the attorney general is getting involved. We need to start charging Facebook execs for these flagrant privacy violations. They're being fined 3 billion dollars for legal expenses relating to an FTC inquiry… and their stock price went up by 8% [1]. The market just does not care; it's time regulators and law enforcement started to. [1] https://www.barrons.com/articles/facebook-stock-is-up-becaus...
I'm glad the attorney general is getting involved. We need to start charging Facebook execs for these flagrant privacy violations. They're being fined 3 billion dollars for legal expenses relating to an FTC inquiry… and their stock price went up by 8% [1]. The market just does not care; it's time regulators and law enforcement started to. [1] https://www.barrons.com/articles/facebook-stock-is-up-becaus...
Not just execs, I hope. The engineers who wrote the code and managers who told them to do it should also face justice.
Earlier quoted context omitted.
The market cares. It had already priced in a fine, possibly one larger than 3B. The reduction in uncertainty -- knowing the magnitude of the fine -- also positively affects the stock price. If the fine were cancelled tomorrow, you can be sure that, all else equal, Facebook's market cap would jump by 3B. The fines need to be bigger.
They need to increase the fine substantially for each repeated violation. After a few violations its going to be hard to justify a $50B fine to investors.
Earlier quoted context omitted.
The market cares. It had already priced in a fine, possibly one larger than 3B. The reduction in uncertainty -- knowing the magnitude of the fine -- also positively affects the stock price. If the fine were cancelled tomorrow, you can be sure that, all else equal, Facebook's market cap would jump by 3B. The fines need to be bigger.
They need to increase the fine substantially for each repeated violation. After a few violations its going to be hard to justify a $50B fine to investors.
So this relates to their practice of ransacking all your email contacts without your consent, engaging in data theft as they upload them and analyze them for subsequent actions. And of course Linked In is also notorious for engaging in this criminal vile privacy raping practice. I remember maybe 8 years ago it was here on HN that a company was found to be doing this and it was shocking to some. But an executive of th…
I'm glad the attorney general is getting involved. We need to start charging Facebook execs for these flagrant privacy violations. They're being fined 3 billion dollars for legal expenses relating to an FTC inquiry… and their stock price went up by 8% [1]. The market just does not care; it's time regulators and law enforcement started to. [1] https://www.barrons.com/articles/facebook-stock-is-up-becaus...
I'm glad the attorney general is getting involved. We need to start charging Facebook execs for these flagrant privacy violations. They're being fined 3 billion dollars for legal expenses relating to an FTC inquiry… and their stock price went up by 8% [1]. The market just does not care; it's time regulators and law enforcement started to. [1] https://www.barrons.com/articles/facebook-stock-is-up-becaus...
Not just execs, I hope. The engineers who wrote the code and managers who told them to do it should also face justice.