Like $9 million USD will change their ways…
this post was submitted on 17 Jul 2023
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Yeah. It should be at least 10 times that. FB can either change or leave.
Norway have population of 5 6 million i don't think they are earning that much from Norway
Most likely they cannot change the system in just Norway. They'd have to change it for a much larger set of users.
36.5 M$/a might even be worth it.
Make it $100,000/day per user and then they'll actually feel it
For anyone claiming that this isn't enough, remember that Norway's population is 5.4 million. If the fine were raised any higher, Facebook can simply not do business there. The goal is to get Facebook to comply with the law, not to remove them.
"This decision “does not ban Facebook or Instagram in Norway,” Tobias Judin, the Norwegian Data Protection Authority’s international department head, stated in a release. “The purpose is rather to ensure that people in Norway can use these services in a secure way and that their rights are safeguarded.” - > AP News
At face value many people would say that Facebook pulling out is a good thing, but it's not that simple. Lots of small businesses rely on social media. People would be losing a forum for political discourse, no matter how fake news infested it may be. People who rely on it to initiate social interaction will have to find a different channel now. They are so conditioned to the convenience of staying connected with friends and family through social media that it has eroded forms of communication. This isn't a judgment on social media users, this is just stating how social interactions have changed and how detrimental removing these tools can be.
Facebook has around 3 billion users. It's economic impact is estimated at 227 billion USD. It's part of the fabric of society, especially for people with poor media literacy. Good luck pulling the plug on that.
Is that even enough?
Pocket change for a corporation like Meta. They won't even notice it. It's the right direction, Norway, but this isn't your average company.
If they leave it for 10 years it will be 0.4% of their yearly gross profit. They will surely care :^) tbh these fines need to be exponential instead of linear.
Just fine them 1 dollar with a daily interest rate of 1%.
Could the add daily accumulative interest at a stupidly high percentage: like an APR but daily.
You’re gonna have to add two or three more 0’s to that daily fine if you want Zucc to even pretend to notice it.