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Facebook today closed at a record high of 309, up from 299, on the first trading day after this leak hit the press. It has since increased to a higher record high (currently 312 with 10 minutes left)
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It does if your average user is so uneducated they freeze up and whack the next button until the screen with all those words on it goes away.
If someone signs a bad contract because they refuse to read and understand it, and just signs it anyways, they're still generally bound by the terms of the contract. iOS and Android both have pretty clear descriptions in their permissions dialog of what the app is asking for.
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I think there is no doubt it isn't uploading a raw video signal. But all kinds of things could be derived from that video and uploaded.
It's a powerful device with superb cameras & sensors, used to play user specific content, running totally unauditable code, connected to the Internet and requiring a real identity account to even start. What could possibly go wrong.
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In EU law too. Booking.com just got convicted half a million just for notifying TOO LATE (two weeks after the fact). I assume they expect to claim it's not a fb leak in some convoluted way, otherwise I don't understand that move. Oh wait, weren't there also shadow numbers in this ? Aka you had my number you uploaded it so it's in the leak even though I had no relation to them ? Might be why, they have no right to con…
Yeah, but the b.com leak involved credit card data which changes everything in the eyes of regulators. Sadly this is not true for "mundane" data like phone numbers, email addresses, or even physical addresses.
Facebook today closed at a record high of 309, up from 299, on the first trading day after this leak hit the press. It has since increased to a higher record high (currently 312 with 10 minutes left)
Give that the data leak is 2+ years old I’m wondering why it’s getting so much attention in the media right now, just as FB hits record highs. The cynic inside me suspects that this is actually a ploy to manipulate the stock price, though I can’t tell who would benefit from it.
Aren't they required to disclose this, at least to California residents, under California's data breach disclosure laws? Or was it not the type of PII covered under the law?
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Wall Street fueled by Jim Cramer's FAANG doesn't care about consumer privacy.
Because Wall Street realizes even consumers don't care about consumer privacy. If Ashley Madison and Equifax walked away with barely a scratch from their catastrophic breaches, then this is almost nothing in comparison.
Something to the tune of $30-50B, to also send a clear message to all other companies. In this case, FB appears to have sat idle since previous $5B fine for the Cambridge Analytica fiasco. So 10X that previous fine would seem appropriate.
Long term, holding the leaders and board of companies criminally liable for user PII and data leaks (similar to SOX compliance) might be the best solution. The reality, however, is that no such regulation will occur and companies like FB can continue to lackadaisically treat user privacy and data security.