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Works out to $2 trillion in liability according to one (highly speculative) article I saw.
by fancyfacebook 9y ago
Works out to $2 trillion in liability according to one (highly speculative) article I saw.
- thesis 9y agoWhere can I get my check? Or will the government spend it in my best interest?
- toxican 9y agoFear not citizen, it'll be put to use by the same government that's actively working to dismantle consumer protections.
- drchiu 9y agoAlmost certainly the latter. Although it would be whimsical to consider for a moment people retiring from Facebook’s misfortunes.
- throwaway-hn123 9y agoYeah, probably by wasting money on your shit startup.
- nonbel 9y agoI've been saying for awhile if people were just payed fairly for the data all these companies were tricking them into giving away it would amount to a basic income of a couple thousand dollars a year. It basically requires collective action though. If everyone does it at once they will start paying your bills to track you.
- grogenaut 9y agoIf people were paid fairly for this data then these companies wouldn't exist. I'm not saying this is good or bad, but you'd turn around and be charged to use the service. Interesting side question, how do you see market forces working to set a proper payment for data to users? Right now Facebook is essentially saying your data is worth free photos and being advertised and propogandized and people seem to accept that. How does this not become the standard of exchange in your system for any popular network effect service?
- nonbel 9y ago>"Right now Facebook is essentially saying your data is worth free photos and being advertised and propogandized and people seem to accept that. How does this not become the standard of exchange in your system for any popular network effect service?" The point would be that people started valuing their data "correctly". I don't know how high that is but it must be worth much more than free web hosting or else these companies wouldn't have gotten so huge.
- conanbatt 9y agoWow, how much money do you think facebook makes. They have 114$/person in the US revenue. And that's taking all the global revenue into account.
- nonbel 9y agoFacebook is only one company. Start with the FANG companies, then banks + "partners", ISPs, etc.
- beefield 9y agoThat's a neat way to nationalize FB.
- conanbatt 9y agoIs it. Because if it is immoral for facebook to sell data for electoral campaigns, what does it mean for the president to get all that data legally and at tax payer money.
- beefield 9y agoI did not make claims whether nationalizing FB is neat or not. Just that if you want to nationalize a company, setting fines that make the company immediately insolvent and government by far largest creditor is quite a neat way to do it.