5 ms·
$5,000,000,000 reminds you of $50,000? A fine of 1% of Facebook's value seems a bit more than pocket change.
by lucasmullens 8y ago
$5,000,000,000 reminds you of $50,000? A fine of 1% of Facebook's value seems a bit more than pocket change.
- lordnacho 8y agoWhat? FB's value naturally changes by more that 1% on quite a lot of days each year, without this fine. Put it another way: if you took all of the daily market cap changes of FB's stock, but added -1% to one of them, could you pick out which one it was?
- lucasmullens 8y agoHow does that make it not matter? My savings in the stock market do the same thing, but if I got a fine/bill that was 1% of my net worth, it would still be a huge deal.
- lordnacho 8y agoIf your net worth changes often randomly covered the fine amount, it is very different from if you were say a pensioner on a fixed income. Having had days where NW changed by entire year's salaries, I can say it makes a huge difference to how you see it.
- busymom0 8y agoIt is 5 billion but that's nothing considering they make 15 billion and more in future using the unethical practices. It's like me stealing your car and only being fined for the wheel and I still get to keep the car.
- ionised 8y ago1% of anything's value is pocket change. It's not about how much money it is to you or me, but how much money it is to Facebook. And it's not a lot.