Facebook Gets Slapped By Canada’s Competition Bureau… And Feels Absolutely Nothing

A press release popped up on the Canada Competition Bureau’s website that detailed that Facebook is paying a $9 million penalty to settle misleading privacy claims. This relates to the Cambridge Analytica scandal where over 600,000 Canadians had information shared with a third-party without their knowledge

Let’s think about this for a second.

Facebook pulled in $4.9 billion USD in income in their first quarter. So if you convert this fine to USD, it works out to $6.5 million dollars USD. Which in turn works out to 0.1326% of their net income. In other words, they won’t feel this at all. In fact, it’s likely a rounding error in the finance department at Facebook. Which makes the fine more symbolic than anything else.

If you’re going to smack Facebook, you have to make it hurt. Because it’s the only way their rather abhorrent behavior will change. Right now they don’t care and that’s bad for everyone whether you use Facebook or not.

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