These government fines are a bad “solution”.
They grow Government and the business (especially if they are in a monopoly like Facebook clearly is) just pass the cost on to YOU. (Even if you don’t use FB these costs trickle down to you in some sense.)
It turns out to be another back door TAX.
If the violations are so egregious, pick and sort through the responsible culprits and jail them.
If they remain monopolized and the Government imposes new rules that they break then what?
More fines against YOU er ahem, against Facebook?
When do the taxes, I mean “fines” end?
But breaking them up via antitrust measures would be more effective in my opinion.
Facebook’s $5-billion fine for privacy scandals too low, Democrats complain
July 15, 2019 (LifeSiteNews) — The Federal Trade Commission (FTC) has reportedly voted to approve a $5-billion settlement with Facebook over the social media giant’s breaches of user privacy starting with last year’s notorious Cambridge Analytica scandal.
The Trump administration has not announced the deal, but The Verge reports that the Wall Street Journal , New York Times , and Washington Post have confirmed several details. The FTC’s three Republican commissioners voted for the settlement, while the two Democrats opposed it. It’s not yet known what Facebook will have to do beyond paying the money, but the settlement now moves to the Justice Department for review.
If finalized, the fine will be the largest ever doled out by the FTC, though it is not expected to significantly impact Facebook. . . .
People will get on here and say FB has no monopoly.
They will use word games like “strict” monopoly to deny this.
Or say FB is just another business.
Naturally I disagree that this is just another routine business. The word games don’t convince me either.
The largest fine ever potentially and not a hiccup from FB tells you much of what you need to know in the power realm that FB posesses.