Facebook’s $5 billion FTC fine is an embarrassing joke
Facebook’s stock went up after news of a record-breaking $5 billion FTC fine for various privacy violations broke today.
That, as the New York Times’ Mike Isaac points out, is the real story here: the United States government spent months coming up with a punishment for Facebook’s long list of privacy-related bad behavior, and the best it could do was so weak that Facebook’s stock price went up.
— rat king (@MikeIsaac) July 12, 2019
From some other perspectives, that $5 billion fine is a big deal, of course: it’s the biggest fine in FTC history, far bigger than the $22 million fine levied against Google in…