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The public doesn't care about appropriate capital ratios for "too big to fail" banks either, and yet Dodd-Frank passed. The internet industry may be banking on
by IBM 9y ago
The public doesn't care about appropriate capital ratios for "too big to fail" banks either, and yet Dodd-Frank passed.
The internet industry may be banking on this blowing over, but I wouldn't be so sure. Especially if the tech industry can't provide a unified front (see Tim Cook calling for privacy regulation).
GDPR has already arrived in the EU, and it will serve as a model for anyone campaigning for privacy legislation in the US. Politicians will respond to the outrage with Facebook/Google's behavior around data privacy, it doesn't matter that the public can't articulate what the response should be at a policy-making level.
And it doesn't matter that these internet companies' Terms of Service allowed everything that was done or not. This isn't a legal issue, this is a political issue. What people think they're agreeing to is more important than what they actually agreed to when it comes to legislative responses.
- rm_-rf_slash 9y agoI think that the parallel is Snowden. Before then, people largely shrugged at the tech community’s assertions about government dragnets. Now the assumption of a dragnet is taken as a granted. This moment for Facebook, I think, is that same moment for the private sector.
- kristianc 9y agoWhat GDPR is really going to kill is the third party data sharing - cookie syncing across ad networks that the end user has never heard of and has no reason to know about. They are going to have a nightmare getting user consent and a lot of those firms have already completely exited the EU market. The timing of this blowing up is not great for Facebook GDPR wise, but the user has a 1:1 relationship with Facebook and getting consent in exchange for continued use of the site is probably not going to be a major issue for them.