Oh, the fine they got is richly deserved.
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My issue is the “$5B is nothing to Facebook, this fine is BS” argument.
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Replying to @tqbf
But that argument is pretty on the nose. If I have $45 in my wallet, and you fine me $5, it's not a very painful fine.
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Replying to @Pinboard
I agree with the theory there though not with the argument that $5B is somehow not painful to Facebook, but more broadly: it can’t be FTC’s job to simply invent a vast, existentially threatening fine, unmoored from prior jurisprudence. Nobody elected them.
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It’s not that I don’t want to see Facebook put out of business (I dearly would), but the “how” matters a lot to me.
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Replying to @tqbf
What's at question here is whether there's a two-tier system, where smaller companies have to comply with FTC rulings, and larger ones just buy their way out of compliance. Either we're regulating this stuff or we're not.
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Replying to @Pinboard
Where we’re talking past each other is that I think a $5B fine for a line of business that probably didn’t generate more than $50MM is in fact stern regulation.
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(i mean, or we’re talking past each other in a dozen other places i haven’t noticed)
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Replying to @tqbf
Yeah, I see it as "Insert $5B coin to ignore FTC ruling" not tethered to any particular business activity. It's like getting a $200 parking ticket not because you deprived the city of $200 worth of parking, but to make you take the posted signs seriously.
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I am amoral and have no sense of civility, but am deterred by parking tickets
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