Fine then! Facebook’s -$5 billion week

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Facebook’s $5 billion lighter, but critics cry foul

$5 billion dollars. To most of us, a comic-book-villain amount of money, but that’s what the Federal Trade Commission fined Facebook this weekas result of its investigation to privacy practices. However, that fine – which Facebook anticipated for some time – received much criticism from onlookers. 

One reason is because The Incredible Zuck has way more than comic-book-villain money. 

Several senators pointed out$5 billion, despite being the largest fine to be forked over by the FTC, barely makes a dent on Facebook’s bottom line. 

Meanwhile, other politicians and government representatives criticized the settlement for lacking anything to force Facebook to change its business practices. (FTC Commissioner Rohit Chopra issued a particularly scathing dissenting statement.) 

Mild-mannered Mark will also face no personal consequencefor the privacy scandal.

Next on the agenda for Facebook will be a twin anti-trust investigation from the FTCand Department of Justice. Those could have some impact on privacy, all these measures stop short of what some lawmakers are calling for – specific legislation on private user data

Odds + The End


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