Five billion dollars. That’s how much Facebook will have to fork over to the government under a settlement with the Federal Trade Commission. It’s the biggest fine for violating user privacy by a wide margin – 200 times bigger than the previous record, according to the FTC chair.
If I got hit with a 5 billion dollar speeding ticket, it would hurt. I’m not going to lie. But some are already saying the settlement doesn’t go far enough.
So. After this settlement, can Facebook say it has paid its debt to society? Or did Zuckerberg and company just make out like bandits?
And: What does this say about privacy regulators’ ability to effectively walk the beat in Silicon Valley?
With me this week to shake me out of my vacation-induced stupor: Farhad Manjoo of the New York Times.
147 - New Life for Fortt Knox on LinkedIn and YouTube. See You There!
146 - AWS CEO Andy Jassy on JEDI, the Cloud's Future and More
145 - Trump and Apple’s CEO Talk Business in Texas
144 - A Fresh Look at Design: Melanie Perkins, co-founder and CEO of Canva
143 - Microsoft JEDI: The Empire Strikes Back; with Morgan Brennan
142 - Mr. Zuckerberg Goes to Washington: with John Stanton and Farhad Manjoo
141 - Tech's Free Speech Challenge
140 - Savings and Startups: Credit Carma CEO Ken Lin; Snowflake CEO Frank Slootman
139 - Microsoft's Dual-Screen Surface: Winner? With Patrick Moorhead
138 - When to Fire a Founder, with Walter Isaacson and Steven Levy
137 - Employees or Contractors? Gig Economy’s Labor Crisis
136 - Apple's iPhone 11 and More: Boom or Bust?
135 - Can Tech Save the NFL? Plus, Rapper Jim Jones on His New Pot Venture
134 - Segment CEO Peter Reinhardt; Plus, Marvel’s Spider-Man Divorce and Streaming Wars
133 - Goodbye IPO, Hello Direct Listing?
132 - The WeWork IPO: Why the Controversy?
131 - Apple Card: How the Cash and Features Stack Up
130 - Monopoly: Are Apple, Google, Facebook & Amazon Fair Game?
128 - Putting a Dollar Value on Personal Data, with CNBC's Josh Lipton
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