2 ms·
The problem with FB is they are too big to impact with regulations. There are too many people who have acquiesced to FB and eagerly handed over all their data w
by at-fates-hands 7y ago
The problem with FB is they are too big to impact with regulations. There are too many people who have acquiesced to FB and eagerly handed over all their data without any issues.
What if you take 200 million of their users off the platform? They still have north of 2 BILLION users. That's a huge number of consumers to contend with to get them to willing leave the network or band together to demand better privacy oversight on the platform. Even with additional oversight, nothing is going to happen, period. We are at the point where the only way to change FB is to destroy it completely or break it up into many, many, many smaller parts.
Lastly, the comment by Mark Holmes from California is right, this is capitalism at its best and at its worst. All three companies he mentions spend billions every year to avoid oversight and regulations to continue to monopolize and dominant their industries. Pay a few hundred million in fines? No problem. Come out of any number of privacy scandals unscathed? Sure, no problem.
All three companies should be way more regulated. You can have a free-market and still have sensible government oversight. Our economy shouldn't be untethered capitalism or the over use of government regulations to stifle competition either. There is a balance in there somewhere.