31–40 of 117 posts
I've always wondered in cases like these what they actually DO with the money after they fine huge companies like this... As in, how would they remedy the damage? Would they use it to go after companies that made money off of people's personal data or make them develop better privacy features or what else?
I've always wondered in cases like these what they actually DO with the money after they fine huge companies like this... As in, how would they remedy the damage? Would they use it to go after companies that made money off of people's personal data or make them develop better privacy features or what else?
Given that the money is a fiat system, without the backing of actual gold, this money effectively goes back into "the ether".
Of course you could argue that the government could theoretically decide to arbitraly print money so any money that goes to the government is actually not worth anything but since the fed operates independently this is just not true.
$5B for FB for the leaked emails and likes? How about $50B for the leaked tax records.
[1] https://www.atr.org/irs-data-breach-allows-hackers-steal-30-...
Meanwhile Boeing actively subverted government regulation leading to mass casualties. What should their punishment be?
Meanwhile Boeing actively subverted government regulation leading to mass casualties. What should their punishment be?
1. Execute the company (dissolve the charter)
2. throw the board collectively in jail for a time for inaction of illegal actions leading to death
3. charge all who conspired to subvert laws as a co-conspirators to premeditated murder
4. Liquidate the company and pay back shareholders not in C levels, the Board, family thereof, or people charged with aforementioned crimes
I don't think Facebook (as constituted) is a good idea! But that doesn't mean I think the FTC should be able to fine it existentially, unless an existential fine is really what it takes to defer the specific thing they did that was unlawful. There's no evidence that $5B --- a record high fine equivalent to the entire cost of several well-known startups Facebook could have otherwise acquired rather than lighting that money on fire --- is insufficient to the task.
Meanwhile Boeing actively subverted government regulation leading to mass casualties. What should their punishment be?
Banning the 737 Max from flying in the U.S. forever would be a good start, I'm thinking. It could be a decent lesson for airplane makers (and self-driving car makers) at least.
Earlier quoted context omitted.
> party-less I think that’s a stretch. Mark Zuckerberg, Jeff Bezos, Jack Dorsey (Twitter), Mark Benioff (Salesforce), Tim Cook and Reed Hastings (Netflix) have all come out as rabidly pro-Democrat and have in many cases admitted to adjusting their platforms to shift public sentiment in favor of liberal politicians and liberal political causes.
> and have in many cases admitted to adjusting their platforms to shift public sentiment in favor of liberal politicians and liberal political causes. Can you cite some sources on this? I'm curious as to how these admissions came about.