3 ms·
> That's only an effective approach if your goal is to cripple many of the companies that you fine. Don’t screw up egregiously and repeatedly and you won’t get
by FridgeSeal 8y ago
> That's only an effective approach if your goal is to cripple many of the companies that you fine.
Don’t screw up egregiously and repeatedly and you won’t get burnt. ¯\_(ツ)\_/¯
Taking the gently-gently approach with fining companies has totally failed: they simply incorporate the cost into their margins and continue on like nothing actually happened; so yes, it is time to start burning companies that don’t do the right thing.
Maybe some will fail as a result, that’s ok: simply existing is not carte balnche permission to continue existing. At least the new gap in the market will probably make room for a new company that will play by the rules.
- tptacek 8y agoNobody has taken a "gently-gently" approach here. $5B is a record-setting fine, the largest in the FTC's history I believe, and situated nicely in the middle of the fines the big banks got for the 2008 crisis. I reject the premise that people are suggesting we have to be careful not to kill Facebook; that's not what's being said. What's being said is that if you're going to try to cripple Facebook, you have to have a rational basis in law for doing so.