Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
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Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#2[deleted]
Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#3I'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...
Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#4Did anything happen regarding LinkedIn's email harvesting from before when Microsoft bought it? I feel like that was far worse than Facebook's.
Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#5I'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...
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.
Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#6This 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.
Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#7I'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...
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.
Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#8Earlier 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.
Totally agree, at the third time there is really no excuse anymore to not bump this up to maybe even threaten the existence of an organization or it changes its behavior.
For FB this is the nth time. I don't even know what n is anymore.
Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#9So 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 that company showed up here and said that "everybody does it" and it's "standard practice" and for some years after that anyone complaining about the practice here was not only downvoted but sometimes warned by our glorious compromised moderators.
In my opinion the practice of contact list ransacking should never be allowed, is clearly unethical, and anyone defending it is an enemy of humanity who should be locked away in order to protect society.
Re: Facebook's Email-Harvesting Practice Is Under Investigation in N.Y.
#10Did anything happen regarding LinkedIn's email harvesting from before when Microsoft bought it? I feel like that was far worse than Facebook's.
They settled a class action lawsuite I think, but if I remember there was some form of consent involved that emails will be leveraged (probably not obvious either, and shouldn't be done). In Facebook's case it has clearly been misleading, possibly intentionally multiple times now (email, phone numbers,...).