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Nigeria fines Meta $220M for violating consumer, data laws

reuters.com

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Re: Nigeria fines Meta $220M for violating consumer, data laws

#31

Post by xlii »

qeternity wrote: post #26
samspenc wrote: post #11

Earlier quoted context omitted.

True, but if we look at GDP ratios instead of population, it looks different. Nigeria's GDP in 2022 was $472B, compared to US's at $25.2T, so Nigeria's total economy is roughly 2% the size of the US. Meta / Facebook made $134B in revenue and $39B in net income (profit) last year. Assuming 1/3 of their business is in the US, that's roughly $43B revenue & $13B profit in the US last year. If we assume their business is…

> Assuming 1/3 of their business is in the US Americans often massively underestimate the size and importance of the US. Meta derives ~80% of its revenue from the US and Canada.

Based on their reports it’s approx. 42%. Do you have other sources?

https://s21.q4cdn.com/399680738/files/doc_financials/2024/q1...

Re: Nigeria fines Meta $220M for violating consumer, data laws

#32

Post by chipdart »

muro wrote: post #30
chipdart wrote: post #29

Earlier quoted context omitted.

> You are describing common procedures here. Welcome to EU. /s You are grossly uninformed. Some EU countries even encoded in their own constitution how the state neither has the right to gather specific types of data on their population, such as race and political affiliation, but also they can't gather data that can used to track people, such as cross-referencing data across ministries. Please provide any substance…

EU (Europe in general) has an enormous bureaucracy, that wants to know everything about its citizens e.g. you have to register after every move. Then on top of requiring the state knows, you have an expectation of privacy.

> EU (Europe in general) has an enormous bureaucracy, that wants to know everything about its citizens e.g. you have to register after every move.

You are painfully uninformed. In the most charitable interpretarion of what you're mindlessly saying, at best you're talking about things like in which town you pay municipal taxes and where you vote. Neither have anything whatsoever to do with privacy.

And you are still yet to provide any substance to your personal assertion.

> Then on top of requiring the state knows, you have an expectation of privacy.

You are throwing wild unsubstantiated claims. Either you add specifics or you're just spewing disinformation.

Re: Nigeria fines Meta $220M for violating consumer, data laws

#33

Post by klyrs »

samspenc wrote: post #11
extraduder_ire wrote: post #6

For reference: that's below $1 per resident.

True, but if we look at GDP ratios instead of population, it looks different. Nigeria's GDP in 2022 was $472B, compared to US's at $25.2T, so Nigeria's total economy is roughly 2% the size of the US. Meta / Facebook made $134B in revenue and $39B in net income (profit) last year. Assuming 1/3 of their business is in the US, that's roughly $43B revenue & $13B profit in the US last year. If we assume their business is…

> If we assume their business is proportionate to GDP...

This is a really bad approach. Megacorps like fb are happy to take a loss on small countries to maintain a worldwide monopoly. Perhaps I'd go with a power law distribution, rather than uniform? A few whales can cover a whole lot of leeches.

Re: Nigeria fines Meta $220M for violating consumer, data laws

#34

Post by throwawaycorr »

blackhawkC17 wrote: post #22
pojzon wrote: post #20

Earlier quoted context omitted.

Whats your opinion on US and EU countries corruption?

It’s much lower than what we have in Nigeria and Africa at large. The worst EU leader is far better than the average African leader. Then it gets worse with civil service agencies over here…they’re corrupt to the point of being almost irredeemable.

I am from India, and I often see again and again, how good the Western people have it in terms of corruption.

Countries like India, Nigeria, Bangladesh, Pakistan are corrupt to the very skeleton, for the lack of a better expression.

But, I also think people have lesser appreciation of their situation.

You might see corruption everywhere there in Nigeria. But maybe it’s much better than Sierra Leone or Somalia.

Indians see India as fully corrupt. But we have to pay bribes for making passports and recording our lands after a purchase or inheritance. Bangladeshis have to pay bribes to police for all of the above, as well as minor things like- if someone needs to drive a car at night. Police stops you, and asks you your purpose for driving at night and demands bribes. Just like that. No violation needed. That's in Bangladesh. But you won't see it in Mumbai or Delhi.

Western people have no darned idea about total ubiquitous corruption and incompetence in third world. They just self sensor and argue for the fear and risk of sounding racist and prejudiced.

Re: Nigeria fines Meta $220M for violating consumer, data laws

#35

Post by faizan-ali »

throwawaycorr wrote: post #34
blackhawkC17 wrote: post #22

Earlier quoted context omitted.

It’s much lower than what we have in Nigeria and Africa at large. The worst EU leader is far better than the average African leader. Then it gets worse with civil service agencies over here…they’re corrupt to the point of being almost irredeemable.

I am from India, and I often see again and again, how good the Western people have it in terms of corruption. Countries like India, Nigeria, Bangladesh, Pakistan are corrupt to the very skeleton, for the lack of a better expression. But, I also think people have lesser appreciation of their situation. You might see corruption everywhere there in Nigeria. But maybe it’s much better than Sierra Leone or Somalia. Indian…

Seconded! Pakistani living in the States. Have been pulled over by cops many times at night because they're bored and/or want a bribe. Bribed a guy to get my passport made. Corrupt ranger tried to squeeze cash out of my dad's startup office space.

It's very difficult to explain to Westerners how deeply corrupt our societies are relative to the rule of law we/they enjoy in the West.

Re: Nigeria fines Meta $220M for violating consumer, data laws

#36

Post by samspenc »

xlii wrote: post #31
qeternity wrote: post #26

Earlier quoted context omitted.

> Assuming 1/3 of their business is in the US Americans often massively underestimate the size and importance of the US. Meta derives ~80% of its revenue from the US and Canada.

Based on their reports it’s approx. 42%. Do you have other sources? https://s21.q4cdn.com/399680738/files/doc_financials/2024/q1...

Yeah I was also going by their quarterly earnings reports since they're a public company. Though that only breaks down the revenue by continent, but was using it to approximate US revenue at 30% of worldwide.

Re: Nigeria fines Meta $220M for violating consumer, data laws

#37

Post by TechDebtDevin »

chipdart wrote: post #32
muro wrote: post #30

Earlier quoted context omitted.

EU (Europe in general) has an enormous bureaucracy, that wants to know everything about its citizens e.g. you have to register after every move. Then on top of requiring the state knows, you have an expectation of privacy.

> EU (Europe in general) has an enormous bureaucracy, that wants to know everything about its citizens e.g. you have to register after every move. You are painfully uninformed. In the most charitable interpretarion of what you're mindlessly saying, at best you're talking about things like in which town you pay municipal taxes and where you vote. Neither have anything whatsoever to do with privacy. And you are still y…

They are just repeating something they heard a politician tell them as if it's fact.

Re: Nigeria fines Meta $220M for violating consumer, data laws

#38

Post by throwaway2562 »

FireBeyond wrote: post #16
aliyfarah wrote: post #8

Earlier quoted context omitted.

Nigeria will be the big loser if they ban Meta’s free and widely used services. No tech company could function if every banana republic levies hundreds of millions of fines when they don't even generate that much revenue in those markets.

> banana republic Nigeria is Africa's largest economy and most notable democracy. Referring to it as a "banana republic" just hints at bias.

Nigeria is a barely-functioning democracy, a wildly corrupt state: or is it ‘bias’ to say so?

https://freedomhouse.org/country/nigeria https://www.transparency.org/en/countries/nigeria https://www.cfr.org/article/nigerias-all-too-familiar-corrup...

Re: Nigeria fines Meta $220M for violating consumer, data laws

#39

Post by endofreach »

anonym29 wrote: post #12
aliyfarah wrote: post #8

Earlier quoted context omitted.

Nigeria will be the big loser if they ban Meta’s free and widely used services. No tech company could function if every banana republic levies hundreds of millions of fines when they don't even generate that much revenue in those markets.

No, the truth is that the people of Nigeria will be the big winners if Nigeria bans Meta's widely deceptive, manipulative, and harmful amalgamation of spyware, malicious and unethical secret psychological manipulation experiments, and socially destabilizing engagement-farming algorithms. Instagram is very nearly a biological warfare agent against the mental health of young women - Meta hires a surprisingly large numb…

I am looking for people in europe to view it like this & want to change how things are. If you, or whoever reads this, wants to join a broke startup but have a shot at truly changing things for the better, let me know how to reach out.

Aaaalso, as always, everyone... please stop calling them the M-word. It's still the greedy, creepy facebook. Don't let them claim this awesome word & get away with making people forget who they truly are.

Re: Nigeria fines Meta $220M for violating consumer, data laws

#40

Post by anonym29 »

endofreach wrote: post #39
anonym29 wrote: post #12

Earlier quoted context omitted.

No, the truth is that the people of Nigeria will be the big winners if Nigeria bans Meta's widely deceptive, manipulative, and harmful amalgamation of spyware, malicious and unethical secret psychological manipulation experiments, and socially destabilizing engagement-farming algorithms. Instagram is very nearly a biological warfare agent against the mental health of young women - Meta hires a surprisingly large numb…

I am looking for people in europe to view it like this & want to change how things are. If you, or whoever reads this, wants to join a broke startup but have a shot at truly changing things for the better, let me know how to reach out. Aaaalso, as always, everyone... please stop calling them the M-word. It's still the greedy, creepy facebook. Don't let them claim this awesome word & get away with making people forget…

Any way for folks outside of Europe to help or donate?

You make a great point on namewashing, but to be clear, my issue is with the morality of the whole company, not just the individual product going by the same name as the company before their rebrand.

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