41–50 of 117 posts
my cynical side says there is more to this. I think FB is a major threat to the distribution of news that is mostly owned and controlled by the mainstream media owners. I think this is all part of forcing FB to come to the negotiation table, and negotiate banning more independent information sources to make these fines go away.
This is kind of alarming to me. A fine should scale with the the greater of the harm done and the amount needed to deter the behavior. But that's not what's happening here; instead, people are proposing that the fine scale with Facebook's total revenue. Even Facebook's most ardent critics probably don't believe they derive a majority (or really even a significant amount) of revenue from the lax API controls companies…
Earlier quoted context omitted.
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.
Why not just ban all of Boeing's planes from flying? That would teach Boeing an even greater lesson.
Sometimes glad we don't have direct democracy or mob rule.
$5bn isn't pocket money, but it's hardly a serious expense for Facebook. They've [clearly] already accounted for it. It's not punitive.
Add a couple of zeros. Facebook is repeatedly at the bleeding edge of privacy invasion, acting too late to obvious evils, letting advertisers [essentially] identify people by offering such exact filters, illegally siphoning off data... Any action needs to hit Facebook hard enough that their engineers feel it and start to consider things in what they should be doing, not what they're technically able to do to churn out more cash.
This is kind of alarming to me. A fine should scale with the the greater of the harm done and the amount needed to deter the behavior. But that's not what's happening here; instead, people are proposing that the fine scale with Facebook's total revenue. Even Facebook's most ardent critics probably don't believe they derive a majority (or really even a significant amount) of revenue from the lax API controls companies…
What's happening here is that $5B is believed to be insufficient, and the market cap reaction to the announcement is proof of that. I'd be willing to believe that the fine deters future behavior if the market cap reacted negatively to the settlement, but celebration probably means it isn't enough
Earlier quoted context omitted.
Why not just ban all of Boeing's planes from flying? That would teach Boeing an even greater lesson.
The knee-jerk is strong with this one. Sometimes glad we don't have direct democracy or mob rule.
When we first heard that Facebook was putting $5bn aside for this, wasn't it clearly a deliberate tactic to steer the inevitable fine, to suggest a range? $5bn isn't pocket money, but it's hardly a serious expense for Facebook. They've [clearly] already accounted for it. It's not punitive. Add a couple of zeros. Facebook is repeatedly at the bleeding edge of privacy invasion, acting too late to obvious evils, letting…
Earlier quoted context omitted.
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.
Why not just ban all of Boeing's planes from flying? That would teach Boeing an even greater lesson.
This is kind of alarming to me. A fine should scale with the the greater of the harm done and the amount needed to deter the behavior. But that's not what's happening here; instead, people are proposing that the fine scale with Facebook's total revenue. Even Facebook's most ardent critics probably don't believe they derive a majority (or really even a significant amount) of revenue from the lax API controls companies…
second 5 billion won't even lead to an unprofitable quarter at 2018's numbers so there's a loooot of room between 5B and an existential fine, we aren't any where near the slippery part of the slope.
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 Strong enough?