The IT Nerd

The FTC has apparently been in negotiations with Facebook for a few months now. The idea being that both sides want to avoid a protracted legal fight over Facebook’s rather shambolic handling of user data. And the word on the street is that it could cost the social network $5 Billion:

Facebook said it expects a fine of up to $5 billion from the Federal Trade Commission, which is investigating whether the social network violated its users’ privacy.

The company set aside $3 billion in its quarterly earnings report Wednesday as a contingency against the possible penalty but noted that the “matter remains unresolved.”

I have mixed feelings about this. Facebook needs to be punished. And Facebook being able to negotiate to limit their damage seems wrong. Yes it’s potentially $5 billion. But still, they should be hammered out of existence and made an example of because of everything that they have done.

This entry was posted on April 24, 2019 at 9:48 pm and is filed under Commentary with tags Facebook. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.