Earlier quoted context omitted.
I'm pretty sure Meta will drag the case in appeals for many years until the order becomes irrelevant. Cheaper than paying $942m.
A corporation will shift the capital loss to a tax write off like any other firm. The taxpayer just takes a dollar out of their pocket, and pays a dollar in tax revenue short fall. This fine changes nothing, punishes tax payers, and Meta will just lobby more politicians. =3
New Mexico court orders Meta to pay $567m over harms to children’s mental health
181–190 of 455 posts
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#182Earlier quoted context omitted.
The world would almost assuredly be a better place if 14 year olds were looking at playboy magazines instead of having easy access to every fetish under the sun. It has distorted many a young man’s ideas of intimacy and sexual relations.
One third of porn consumers are women. They are hardly immune.
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#183Instagram (reels) and tiktok are truly online version of Heroine equivalent. I remember during pandemic time downloading tiktok just to see what's all the hype was about and next thing, I was wasting hours mindlessly scrolling through it. Later on same happened with reels as well. I would open the app thinking maybe just check for 15mins and time just goes by so fast and I would end-up wasting hours on it. Also, the…
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#184Earlier quoted context omitted.
I'm pretty sure Meta will drag the case in appeals for many years until the order becomes irrelevant. Cheaper than paying $942m.
A corporation will shift the capital loss to a tax write off like any other firm. The taxpayer just takes a dollar out of their pocket, and pays a dollar in tax revenue short fall. This fine changes nothing, punishes tax payers, and Meta will just lobby more politicians. =3
The payment of fines for penalties from breaking civil or criminal laws is not deductible according to IRS tax rules : https://www.irs.gov/publications/p529#en_US_202012_publink10...
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#185Earlier quoted context omitted.
A corporation will shift the capital loss to a tax write off like any other firm. The taxpayer just takes a dollar out of their pocket, and pays a dollar in tax revenue short fall. This fine changes nothing, punishes tax payers, and Meta will just lobby more politicians. =3
LOL. Yes, let's do absolutely nothing, that always works well. This fine also sets a precedent that some will follow. When New Mexico does it, ok, avoidable. If NY, California, etc start doing it, at some point there is no place left to run to. Also, what's the "=3" supposed to mean?
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#186I wonder how many billions it would take every year for this to not just be considered "cost of doing business"?
This is the "slap on the wrist, don't do it again". A future judge will not be so kind if they keep doing it. Being punitive the first time is unwise because it invites abuse by others seeking an advantage.
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#187What benefit do kids draw from instagram and facebook?
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#188A lot of people on this story are making the usual snarky remarks that, oh, this is just a slap on the wrist—some trivial proportion of Meta’s global revenue. And that is true, but unlike the EU, for example, New Mexico is a tiny jurisdiction. It only has a little bit more than 2 million people. So actually, a fine—or a judgment—of $942 million that applies just to New Mexico is enormous. If you look at Meta’s revenu…
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#189Nice to read about, but will be appealed to eternity.
But big picture strategy wise, I think they'll just focus on actually fixing the problem and avoiding such future suits, the reputational damage is as significant or even more than the fine. The amount of the penalties are very high per capita, but not necessarily high globally, so it's payable.
Even if you assume no altruism, it's not always in the best interests of a firm to be a maximal asshole.
Re: New Mexico court orders Meta to pay $567m over harms to children’s mental health
#190Per the court ruling [0], the specific law that Meta violated was New Mexico’s public-nuisance law, NMSA 1978 § 30-8-1. The relevant section that was violated is [1]: A public nuisance consists of knowingly creating, performing or maintaining anything affecting any number of citizens without lawful authority which is either: - A. injurious to public health, safety, morals or welfare; or - B. interferes with the exerc…
The "without lawful authority" condition will result in this being vacated upon appeal. Meta isn't a public nuisance any more than Philip Morris. Both are regulated already, both produce addictive products, both are optional.
Exactly. Meta will agree to pay a reduced settlement. Meta will agree to give the state a cut going forward (they won't make it that obvious, it'll be like a recurring fund contribution to services that are related to online harassment or something). Biggest win for FB would be being forced to have some stupid license going forward.