Facebook Faces a Fine of - 'loose change'

[JATSO]

Its just pocket money to them.

 

Facebook faces £500,000 fine from UK data watchdog - http://www.bbc.co.uk/news/technology-44785151

[atcoates]

Pretty much a joke considering what they've done. I imagine 500k is probably what they'll blow on there office party celebrating this!

[jthompson]

Presumably of more concern to Facebook would be the precedent it sets, and whether that it makes further challenges from individuals more likely.

[Garacesh]

18 minutes worth of profit, apparently.

 

https://www.theregister.co.uk/2018/07/11/ico_fine_facebook_cambridge_analytica/

 

I mean, it's nice to see that something is being done because the fine does set a good precedent, and against a company as big as facebook it definitely points out that nobody is too big and untouchable.

... But it still is pocket change at this point. Hardly even a blemish on their quarterly statement.

[XiJ]

Income != Profit. Which one is it ?

[Garacesh]

Income != Profit. Which one is it ?

 

Fair point, missed that little inconsistency

Though in this case I'd argue it's pretty insignificant either way lol

[mtillbrook]

Unfortunately thats the highest amount we are currently able to fine.

 

I assume the money goes to the ICO? What do they do with it?

[jthompson]

18 minutes worth of profit, apparently.

 

18 minutes worth of profit, or 18 minutes of standing around together in the boardroom laughing like Dr Evil and rubbing hands together?

[Garacesh]

18 minutes worth of profit, or 18 minutes of standing around together in the boardroom laughing like Dr Evil and rubbing hands together?

 

£10 says a bunch of facebook execs make a point of sitting in a boardroom for 18 minutes doing nothing/eating biscuits/etc just to make a point

[JATSO]

Unfortunately thats the highest amount we are currently able to fine.

 

I assume the money goes to the ICO? What do they do with it?

 

The taxmans back pocket no doubt for the tax payer.