cageymaru

Fully [H]
Joined
Apr 10, 2003
Messages
20,402
According to a report from the Washington Post, Facebook is negotiating with the FCC over a multi-billion dollar fine for its privacy issues and practices. The fine is expected to be the largest ever levied against a tech company. In 2011, the FTC and Facebook reached a deal to improve the company's privacy practices. The FCC is arguing that the Cambridge Analytica scandal and more recent privacy snafus have breached that agreement. The FTC agreement required Facebook to be more transparent and notify users before it shares their data with third party entities. Facebook can accept the fine or fight it in court. If it takes its fight to court and loses, the social media giant could face even steeper fines. This FCC action could usher in a new age of scrutiny and monitoring for Silicon Valley companies in the future.

"Facebook faces a moment of reckoning and the only way it will come is through an FTC order with severe penalties and other sanctions that stop this kind of privacy misconduct going forward," said Sen Richard Blumenthal (Conn.). "They're hemorrhaging users, they're hemorrhaging trust, and I think this would only exacerbate the problem," said Justin Brookman, the director of consumer privacy and technology policy for Consumer Reports.
 

Krenum

Fully [H]
Joined
Apr 29, 2005
Messages
17,762
Eh a drop in the bucket for them. They probably have money set aside for lawsuits like this. Nothing will change.
 

seanreisk

[H]ard|Gawd
Joined
Aug 29, 2011
Messages
1,715
Facebook will get away with it.

Last week my sister told me that the family needed me to get a Facebook account so we could organize the family reunion. I was in the kitchen, wearing a dark t-shirt, so I got a knife and cut a strip of cloth from the sleeve of my shirt, fashioned it into a ribbon and used a toothpick to pin it to my shirt. My sister asks, "What are you doing?"

So I explained. "It's a Jewish tradition to cut or tear one's clothing and wear it as a ribbon. It's a symbol of sadness or anguish over the loss of a loved one."

And she says, "I don't get it...."

And I said, "You asked me to join Facebook. You are dead to me."


So for the rest of the night my mom is bitching at me about ruining a good shirt, even though it wasn't that good of a shirt, it was kind of old.

My point is, everyone looked at me like a weirdo for cutting my shirt, but no one defended me about the perversion of asking me to join Facebook.
 

Dead Parrot

2[H]4U
Joined
Mar 4, 2013
Messages
2,831
Net income for 2018 was about $22 billion. Or about $1.8 billion/month. If the fine is less then the lost profits from ceasing the fine causing activities, FB will keep doing the activities. And since most of their profits come from selling access to data collections that violate privacy, if the fine is less then $22 billion/per year, FB will keep doing what they are doing.
 

sfsuphysics

[H]F Junkie
Joined
Jan 14, 2007
Messages
14,742
Wow a fine that actually will do something. Unlike fines against cable, phone or utility providers where they just raise rates to consumers to deal with the fines
 

Smashing Young Man

[H]ard|Gawd
Joined
Sep 11, 2009
Messages
1,654
The never-ending quest for growth destroys companies. What's wrong with being a modest-sized yet profitable company, providing a service of limited yet useful scope? But nope, always have to grow and expand to please stockholders. Tech companies especially seem focused on becoming multi-billion dollar global behemoths. Every new venture seems to be established with that aim in mind from the get-go. Facebook never needed to be more than the simple social networking site that it was when it started.
 

Krenum

Fully [H]
Joined
Apr 29, 2005
Messages
17,762
The never-ending quest for growth destroys companies. What's wrong with being a modest-sized yet profitable company, providing a service of limited yet useful scope? But nope, always have to grow and expand to please stockholders. Tech companies especially seem focused on becoming multi-billion dollar global behemoths. Every new venture seems to be established with that aim in mind from the get-go. Facebook never needed to be more than the simple social networking site that it was when it started.

 
Joined
Mar 18, 2013
Messages
3,678
This total failure by corporation to maintain their own gardens is going to bring about heavy regulation by governments with regards to data collection.

Governments never do this shit well.

Tend your yard or somebody else will do it for you.
 

halo000008

Limp Gawd
Joined
May 23, 2010
Messages
229
I seem to remember reading something along the lines that Facebook and Google (youtube) want the regulations simply because they are so big and can absorb the cost of a compliance officer. Having to be in compliance would be a barrier of entry for any new startup or competitor.
 

iamjanco

Limp Gawd
Joined
Jul 8, 2016
Messages
460
30 years from now, psychologists will still be degaussing a large number of today's Internet users who will have been determined to be suffering from the effects of long-term exposure to social media, resulting in symptoms similar to those observed in cattle infected with mad-cow disease. Bovine spongiform encephalopathy is real folks, be careful who you listen to, and always wear a rubber before signing in online.

Mad-Cow-Disease.jpg
 

HAL_404

[H]ard|Gawd
Joined
Dec 16, 2018
Messages
1,074
yea, typical political BS ... don't do jail time, buy your way out
 

maxz01

Limp Gawd
Joined
Aug 26, 2017
Messages
166
I don't care. I just want us to progress asap to the post-human future, the cyborg or AI world where we can end all this human suffering that arises inevitably out of our nature.
 

Glock24

Weaksauce
Joined
Jan 2, 2005
Messages
122
"for Its Privacy Practices"

Haha, I'll rephrase it "for it's lack of privacy". The only privacy they practice is hiding the identity of who they sell their user's info to.
 
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