Earlier quoted context omitted.
It's downright insulting. Norway is a country not a mere here today gone tomorrow company.
Some companies lasted longer than some countries
Some insects lasted longer than some countries :P
Facebook must pay $100.000 to Norway each day for violating our right to privacy
41–50 of 76 posts
Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#42>$100.000 each day For clarity & comment skimmers: TFA uses $100,000 in the subheading and beyond. Some European countries use `.` as a thousands separator, so it's not "a hundred dollars a day".
Norway being one of those.
Nobody should use punctuation as thousands separator regardless of which side you are on.
Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#43Earlier quoted context omitted.
No one uses 3 digits to represent cents, so nobody is going to interpret this as a hundred dollars a day.
Bahraini Dinar (and some other Dinars I believe) use 3 digits for their currency. I wouldn't assume no dollar does it. Sure, it's very unlikely. But if you've never dealt with some other currency, it may not by that obvious.
Prior to the decimalization of the stock market, I'd see $42.0625 and similar prices. 0.0625 being 1/16th of a dollar.
Post 2001, the requirements are that that stocks traded for under $1.00 may have a minimum spread of $0.0001 and so you still can see it and have to work with it.
Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#44Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#45>$100.000 each day For clarity & comment skimmers: TFA uses $100,000 in the subheading and beyond. Some European countries use `.` as a thousands separator, so it's not "a hundred dollars a day".
I have experienced this pain, and wrote an article about it: https://kodare.net/2021/04/04/safe_number_parsing.html
Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#46For those who think Norway is small compared to facebook, heres Norway's Wealth Fund in real time: https://www.nbim.no/
They own 1.32% of Meta
Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#47So 36M USD per year? I wonder how that stacks against the profits they make from that market.
Meta makes (revenue) ~25 billion a year from EU. Very crudely compensating for Norway vs EU population (~5 vs 450 million), you'd estimate ~250-300 million revenue per year from Norway.
36M USD per year then works out to like 10-15% of yearly revenue. Meta reports overall operating margin in the 20-30% range, so 10-15% revenue loss is significant, but not immediately deadly... which seems to match the stated intent of Norwegian authorities.
Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#48Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#49Re: Facebook must pay $100.000 to Norway each day for violating our right to privacy
#50> $100,000 per day for a country with ~5.4 million people is a lot. If even 20 percent used Facebook regularly, then that would still be 10 cents per user per day. It's unlikely that Meta is generating so much profit per user - every day.
TFA underestimates the value of user data.
From [1]:
> by the end of 2022, Meta’s [average revenue per user] worldwide was $10.86. While in US & Canada, it was $58.77; in Europe, it was $17.29; in Asia, $4.61 and in the rest of the world, it was $3.52.
$17.29 ARPU, per quarter, comes out at about 19 cents per day. Sure, revenue, not profit, but this is still way above 10c/day.
And this is only in Europe, and it doesn't account for all revenue user data can generate. Once adtech has user data, it can sell it in perpetuity on data broker markets, which is likely where the long tail revenues come from. Long after the user stops using FB, or even if they don't use FB at all (shadow profiles).
So this fine from a small country is just the cost of doing business for Meta. If every EU country did this, and the fines were incremental, then it _might_ cause Meta to rethink their strategy in the EU.