The FTC fines Facebook $5 billion, and forces several changes on the social media giant to protect the privacy and security of its users. But many see the settlement as a slap on the wrist because founder Mark Zuckerberg stays on his throne, pays nothing personally, and his organization doesn’t admit to any wrongdoing. Should the government have gone further to send a clear signal to the industry?
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Historic Slap on the Wrist: Facebook Pays $5 Billion, Yet Zuckerberg Stays on Throne
The FTC fines Facebook $5 billion, and forces several changes on the social media giant to protect the privacy and security of its users. But many see the settlement as a slap on the wrist because founder Mark Zuckerberg stays on his throne, pays nothing personally, and his organization doesn’t admit to any wrongdoing. Should the government have gone further to send a clear signal to the industry?
5 replies on “Historic Slap on the Wrist: Facebook Pays $5 Billion, Yet Zuckerberg Stays on Throne”
‘Guts? GUTS? We don’t need no stinkin’ government (at all levels) without Guts.’ Money (and the love of it) is vital for both good and evil. The Federal government in this case needs the money to keep the swamp running. They don’t care a twit about correcting the basic problem.
We should use the $5 billion for border wall construction
I have a another FaceBook blue hand for Zuckerberg, but if I used it, I might get banned, even here.
There shouldn’t have been any negotiations with Facebook to begin with. They had entered into a consent decree, because of prior bad behavior, under which they owed somewhere around 3 trillion dollars. 5 billion is nothing, less than .2% of what they owed. But what the heck, get big enough and laws and contracts don’t mean anything.
Personally I consider the owners’ use of these companies to advance their personal political interests to be well and truly outside the scope of their corporate charters. They have willfully pierced the corporate veil and should be held jointly and severally liable for any criminal or civil violations.
Blockchain is no solution, it was specifically designed to be a privacy destroying technology.
So, $5 Billion , $5,000,000,000 , where does it go? Is it just dropped into the Washington swamp never to be discussed again?