Sure, but where's the jail time for executives. This may be a bit more than the usual slap on the wrist, but its hardly consequence that actually matters to the likes of Meta. This will keep happening until those at the top are held personally responsible for the crimes they sign off on.
vvpan 2 minutes ago [-]
I rarely cry but my eyes just got wet. It feels so good.
binarymax 24 minutes ago [-]
12% of annual revenue (~200M for 2025). Not a small amount.
afdbcreid 7 minutes ago [-]
You mean 200B?
giancarlostoro 31 minutes ago [-]
I remember long ago, you could fully hide your profile from ANY type of search. Now you cannot. I also remember long before they started scanning your face, they added an opt-out checkbox, I'm pretty sure this disappeared for a long time. You know that feature where they'd auto-suggest who to tag? Yea, you could bar them from using your face for that, now Facebook has taken a steaming pile of... on your privacy at levels I've never seen them pull before.
alex1138 9 minutes ago [-]
Yes, I remember an article in the Guardian about this, around 2015-6
Facebook does this. People think 'privacy' as a complaint and perhaps think about advertising on FB but straight up, settings get reset (including posts suddenly becoming Public. or graph search.)
Why? Because Mark Zuckerberg does not believe in it. In 2010 he said privacy was no longer a social norm. Not only does he himself not believe in it, but he can't keep it to himself. He knows 'better than you'. So, he outright changes it himself or instructs his engineers to do it
It's like with Free Basics in India. You could, theoretically, support it. Many didn't, it was a form of digital colonialism. But let's say you happened to think it was a good idea. It didn't matter either way: Facebook sent emails on users' behalf to TRAI
That's who Zuckerberg is. A sociopath, a criminal, someone who knows nothing but how to steal
jeanloolz 26 minutes ago [-]
25B is not a small fine. Finally an amount that should make them think twice their harming decisions
rvz 17 minutes ago [-]
They don't care.
Meta can take the hit by either selling stock, laying of more employees or both to cover that cost.
idlewords 15 minutes ago [-]
Or they can put thick mitts on Zuckerberg's hands for a couple of years so he can't sign any checks.
akulbe 25 minutes ago [-]
That's just New Mexico. I wonder when will the other states step up, and hit them with more fines?
hawk_ 38 minutes ago [-]
Stock seems to have shot up ~7% aftermarket so just cost of business.
minraws 33 minutes ago [-]
They beat revenue expectations, and earnings per share was ok, and they guided for even higher revenue next quarter above estimates ofc.
Somehow Meta is making money despite starting to loose DAUs now. So honestly I don't quite understand what's what, also most of the big income is from Ads and biggest Ads spenders are startups and companies heavily dependent on VCs and AI... So it's definitely somewhat circular, and Ads is the most recession affected business so a down turn in markets will cycle through it.
But ngl if all the earnings are this ok then hyperscalers stock might not crash this quarter, well then again I didn't think they would but a person could dream.
I am quite bullish on AI, but would prefer the fluff to get out of the way asap, otherwise don't want it to happen at a bad time, and too many people get caught pants down.
Forgeties79 30 minutes ago [-]
Hell didn’t they stop even reporting DAU’s?
lrvick 16 minutes ago [-]
Well Meta is reacting to all the costs by just starting to charge for things previously free, like sharing links.
I suspect they are now entering the Earthlink/AOL phase where they squeeze every last dime out of the confused and abandoned senior citizens left on the platform until they die off.
kube-system 4 minutes ago [-]
Meta also owns the 2nd, 3rd, 5th, and 14th largest social media platforms behind facebook.
3.6 billion people use a Meta app every day - 43% of the world's population.
paxy 18 minutes ago [-]
Escaping litigation with a fine is always a good outcome, no matter how large the penalty. Stock price will drop the day governments start regulating these companies or breaking them up.
Aurornis 27 minutes ago [-]
[dead]
mentalgear 21 minutes ago [-]
A good start, yet still far from enough - as long as the punishments are not equal to their revenues generating by these illegal methods , big corporations will never stop exploiting society because to them those fines are just 'the cost of doing business'.
bilekas 12 minutes ago [-]
> as long as the punishments are not equal to their revenues generating by these illegal methods
I would say this qualifies no?
They certainly didn't get 25 Billion in fees from Cambridge analítica. Unless they did any my conception of business is just way off.
lrvick 13 minutes ago [-]
We need every state doing this, until it literally kills them. Then the companies left will have true fear for the first time ever, and may be forced to reform or suffer the same fate.
Make an example of Meta for the ages.
bilekas 15 minutes ago [-]
Holy! This might be the first time I've seen a meta fine that actually feels substantial enough for them to change behaviours. That's impressive.
MASNeo 6 minutes ago [-]
Will Meta be able to apeal?
DivingForGold 14 minutes ago [-]
That amount will likely be reduced upon appeal ...
Facebook IS a steaming pile of...
and Zuck is PUBLIC ENEMY #1
idlewords 16 minutes ago [-]
That penalty is almost 1/3 of a Metaverse. That's got to sting!
usefulcat 21 minutes ago [-]
Can they appeal it?
ThouYS 40 minutes ago [-]
finally some proper penalty OOMs
ArcHound 2 hours ago [-]
This seems to be a consequence of the Cambridge Analytica. Could it be that we'll see some consequences?
Devasta 11 minutes ago [-]
Anything less than a jail cell is less than the top brass of Meta deserve.
Who predicted it would be New Mexico defending the children of the US while seemingly every other state in the country is bought and paid for by pro surveillance capitalism lobbies?
Hopefully those corrupt politicians are paying attention to the NM model and realize they can get more money by beating all the cash out of Meta like a piñata and then regulate the entire industry like casinos and tobacco, with super high taxes and exclusive for really stupid consenting adults only.
vvpan 6 minutes ago [-]
I have no idea about judicial system in New Mexico, but it's a curious state - college is free effectively for everybody in the state, for example. Also school lunches are free. It's a rare combination of poor and blue.
Rendered at 21:21:41 GMT+0000 (Coordinated Universal Time) with Vercel.
1. https://www.youtube.com/watch?v=C7UC2ie0XIE
2. https://www.youtube.com/watch?v=g1j4N-3ZkB4
Facebook does this. People think 'privacy' as a complaint and perhaps think about advertising on FB but straight up, settings get reset (including posts suddenly becoming Public. or graph search.)
Why? Because Mark Zuckerberg does not believe in it. In 2010 he said privacy was no longer a social norm. Not only does he himself not believe in it, but he can't keep it to himself. He knows 'better than you'. So, he outright changes it himself or instructs his engineers to do it
It's like with Free Basics in India. You could, theoretically, support it. Many didn't, it was a form of digital colonialism. But let's say you happened to think it was a good idea. It didn't matter either way: Facebook sent emails on users' behalf to TRAI
That's who Zuckerberg is. A sociopath, a criminal, someone who knows nothing but how to steal
Meta can take the hit by either selling stock, laying of more employees or both to cover that cost.
Somehow Meta is making money despite starting to loose DAUs now. So honestly I don't quite understand what's what, also most of the big income is from Ads and biggest Ads spenders are startups and companies heavily dependent on VCs and AI... So it's definitely somewhat circular, and Ads is the most recession affected business so a down turn in markets will cycle through it.
But ngl if all the earnings are this ok then hyperscalers stock might not crash this quarter, well then again I didn't think they would but a person could dream.
I am quite bullish on AI, but would prefer the fluff to get out of the way asap, otherwise don't want it to happen at a bad time, and too many people get caught pants down.
I suspect they are now entering the Earthlink/AOL phase where they squeeze every last dime out of the confused and abandoned senior citizens left on the platform until they die off.
3.6 billion people use a Meta app every day - 43% of the world's population.
I would say this qualifies no?
They certainly didn't get 25 Billion in fees from Cambridge analítica. Unless they did any my conception of business is just way off.
Make an example of Meta for the ages.
Facebook IS a steaming pile of...
and Zuck is PUBLIC ENEMY #1
Hopefully those corrupt politicians are paying attention to the NM model and realize they can get more money by beating all the cash out of Meta like a piñata and then regulate the entire industry like casinos and tobacco, with super high taxes and exclusive for really stupid consenting adults only.