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- Sep 22, 2018
- Underground in America
- SL Rez
- Joined SLU
- May 2009
- SLU Posts
Fine will settle privacy investigation triggered by Cambridge Analytica scandal.
A month's worth of revenue...The Federal Trade Commission and Facebook have reportedly agreed on a $5 billion fine that would settle the FTC's privacy investigation into the social network.
With Facebook having reported $15 billion in revenue last quarter, the $5 billion fine would amount to one month's worth of revenue.
The FTC voted 3-2 to approve the settlement this week, with three yes votes from Republican commissioners and two no votes from Democrats, The Wall Street Journal reported today, citing anonymous sources. Democrats on the commission were "pushing for tougher oversight," the Journal wrote.
The FTC's $5 billion fine for Facebook is so meaningless, it will likely leave Zuckerberg wondering what he can't get away with