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Hundreds of millions of users had their data stolen. Putting this fine at less than a dollar per user. Is that really what our private information and security
by deft 8y ago
Hundreds of millions of users had their data stolen. Putting this fine at less than a dollar per user. Is that really what our private information and security is worth? Who cares if they're being fined when it's a slap on the wrist. To all those talking about billion dollar fines on Facebook: fat chance.
- azurezyq 8y agoFB's case is different. I think the term for FB's case is private data abuse rather than leak. Cambridge Analytica took the data through API just like every other app doing at the time, but violated the terms of use. FB is guilty because it designed the wrong way (no excuse) to share the information (still under consent). For example, banks share your personal info around all the time (say promo mails). For Yahoo, that's ... poor technology & management.
- deft 8y agoyou're making the case that Facebook was negligent and Yahoo wasn't. I don't think that's true because Yahoo kept the hack a secret from auditors and users for 3 years.
- utopcell 8y agoConsidering there was a foreign state agent involved in the hack, we should consider the possibility that Yahoo could not disclose the hack even if they wanted to.
- mattnewton 8y agoI mean, the crime here isn’t against users, it’s against investors right? That’s why the SEC involved. I don’t even know who enforces the meager consumer privacy protections we have these days.
- milkytron 8y ago> I don’t even know who enforces the meager consumer privacy protections we have these days. Based on the fact that the ISPs lobbied to be able to sell browsing history... I don't think any government agency truly enforces consumer privacy protection.
- matte_black 8y agoA dollar is generous. The value of any individual user’s data is far simpler: worthless.
- onetimemanytime 8y agoTo be fair that's SEC, they deal with investor issues. Not that FTC will hurt them more given their past penalties but... IMO, the penalty should be xx% of their revenue. Customer data is sacred; unless you can secure it, don't ask for it.
- labster 8y agoMost users will give away their personal data for a discount of less than a dollar, sometimes even for free. So yeah, the market rate for our personal information is very low per person.
- gnode 8y agoAs this is the SEC, making a fine on behalf of investors, it reflects the impact to investors. That being, that unfortunately most users continue to use platforms in spite of serious security and/or privacy concerns. Combined with weak consumer protection, this makes the consequences for the company fairly minor.