Comments
Confident_Mark_7137 t1_j1cim6c wrote
Yup, this is what’s called a slap on the wrist.
[deleted] t1_j1cjlnu wrote
[removed]
[deleted] t1_j1cjyue wrote
[removed]
disneylegend t1_j1ckuan wrote
Meta must be furious with their child Facebook.
[deleted] t1_j1cn62a wrote
ascii122 t1_j1cnmri wrote
Sweet how to I sight up my my fat check?
[deleted] t1_j1cv5t6 wrote
efnfen4 t1_j1d0g3g wrote
They got away with it
[deleted] t1_j1d6fqa wrote
[deleted] t1_j1d77hw wrote
[removed]
[deleted] t1_j1d7gh3 wrote
[removed]
[deleted] t1_j1d7kv6 wrote
[removed]
LittleRedSquirrel11 t1_j1diu6g wrote
Market Cap (which has no tangible value until “realization”) and Cash are not the same thing. While I agree the fines could be bigger the comparison of fines vs market cap is disingenuous to the degree a fine of several hundred million actually effects a company. Metas Cash & equivalents was just shy of 48 billion in 2021 (so still a shit ton) but the fine compared to operational resources is far more damaging as they could only pay it 66 times over (LOL) rather than the 428 ish times the market cap (which,again, isnt real money) would suggest.
AC_deucey t1_j1dk31v wrote
I knew I was seeing more ads on Facebook recently
NoxicRox t1_j1dkvwb wrote
I think to truly understand how little they were fined, we should do a skit on the sub Reddit DataIsBeautiful showing how much an average person in America is charged for common things like speeding tickets and similar things, as a % of their yearly earnings.
TogepiMain t1_j1dxucs wrote
You don't get to use the market cap to make your company look good and not also have it used against you when you fuck up. I mean, they all do, but if you use the inflated numbers, you pay the inflated fines
ThommyPanic t1_j1dyitl wrote
Nowhere near enough. The story behind that is so fucked up. Like the government dosing unaware people with acid in the 60's level fucked up.
dft-salt-pasta OP t1_j1eh32t wrote
Cost of doing business.
Cicero912 t1_j1elein wrote
Market cap doesnt mean shit to a company and has little relation to a companies actual cashflow.
Market cap is for consumers, not companies.
64557175 t1_j1enujr wrote
It was likely already in the budget from the beginning! Just business expenses.
64557175 t1_j1eo04i wrote
Well under budget projections even!
[deleted] t1_j1exop2 wrote
[removed]
[deleted] t1_j1ezfxq wrote
[deleted]
[deleted] t1_j1fhosi wrote
[removed]
rj20876 t1_j1g04yt wrote
Regulatory fines need to be percentage based and hurt. If I make 500 mil but get fined 25 mil, wtf do I care? Thats not a regulation, thats a tax. Also, starting to think the corporate veil is a little too thick.
No-Point-5296 t1_j1hjw8o wrote
Seems the "authorities" who made this deal should be in jail! Lock them all up!
Paoshan t1_j1hr6x6 wrote
What metric would you like to use instead? Feel free to name one, and a number, as as a source. Otherwise, I will continue to be outraged by this pathetic fine
joan_wilder t1_j1idteb wrote
They got fined $725M for killing democracy.
AwesomeBrainPowers t1_j1cfloi wrote
I suppose it's better than nothing, but Meta's market cap is 310$Billion, so it could pay that fine one hundred times over and still be worth well over 200$Billion—which would still make it more valuable than Shell, McDonalds, Toyota, or Nike.
Until these companies have t pay fines that would make every single member of their C-suite sit down and cry for days, these sorts of things are just going to be the cost of doing business. (Specifically, the business of mishandling private user data.)