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You had me until you mentioned the Facebook fine. $5 billion, assuming it stands, is a lot of money and a good deterrent against the kind of behavior FB was eng
by triangleman 7y ago
You had me until you mentioned the Facebook fine. $5 billion, assuming it stands, is a lot of money and a good deterrent against the kind of behavior FB was engaged in. No shareholder would be happy that their company lost that much money. And before someone retorts with the fact that the stock went up the day the fine was announced: shareholders could be happy that the uncertainty is over, but still not happy with the fine.
- bradknowles 7y agoNah. They’ll make that back in a few minutes. If you’re not talking about a sizable portion of their gross annual revenue or their total market capital, you’re going to have little or no effect on any corporation. If you really want to have an effect on a corporation, the only way to do that is to pierce the corporate veil, and hold the senior executives and the board members personally liable. That will get them to change big time, and in a hurry. When you endanger the mega yachts and the private islands, you’ll get them to sit up and take notice.
- paulrpotts 7y agoYou had _me_ until you claimed this was a "good deterrent." $5 billion is a bit over ten percent of 2018 revenue. It's not enough to keep anyone up at night or, more importantly, convince them to do anything substantive _at all_ to improve privacy - because their revenue is _growing_ much more than $5bn a year.