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.
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46 - Satya Nadella, Microsoft CEO: Hit Refresh with the Power of Empathy
45 - Louis Hernandez, Jr., Avid CEO: The Storyteller's Dilemma
44 - Rachel Drori, Daily Harvest founder & CEO: Never An Easy Time to Do A Hard Thing
43 - Njavwa Mutambo, Musanga Logistics CEO: Orphan to Entrepreneur
42 - Ben Chestnut, MailChimp co-founder: A Layoff Pushed Him to Success
41 - Reid Hoffman, investor & entrepreneur: How a Master of Scale Climbed to the Top
40 - Julie Sweet, Accenture CEO of North America: The Beauty of Reinvention
39 - Tristan Walker, Walker & Company Brands founder & CEO: A Black Entrepreneur in Silicon Valley
38 - Jason Calacanis, investor: The Brooklyn Kid Turned Angel
37 - Brad Smith, Microsoft president: If You Change the World, You Change the Law
36 - Anil Chakravarthy & Bruce Chizen, Informatica: Even CEOs Need Mentors
35 - Danielle Weisberg & Carly Zakin, The Skimm cofounders: Millennial Mavericks
34 - Mike Tuchen, Talend CEO: A Teen Adrift Becomes A CEO
33 - Paul Jacobs, Qualcomm chairman: Building a Powerhouse for the Smartphone Era
32 - Uber's Wake-Up Call for Leaders: Deirdre Bosa, Mike Isaac, Vivek Wadhwa
31 - Steve Ballmer, L.A. Clippers owner: Living Large After Microsoft
30 - Tom Siebel, CEO of C3 IoT: Billionaire vs. Elephant
29 - Nicole Eagan, Darktrace CEO: Riding Out the Boom/Bust Cycles
28 - Kevin Busque, TaskRabbit co-founder & Guideline CEO: Married to the Game
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