Something like this should be like 15% of last year’s revenue.
Hold on, let me dig around for my surprised face
All fines should be percentage of income instead of some arbitrary number.
They also need to remove the limited liability from companies for intentional illegal activities.
illegal business practices should be charged to the people involved instead of the company. The executives who made the decision to break the law lose personal assets.
Otherwise the shitheads just pass the company losses onto the employees: no raises, hiring freezes, layoffs, reduction in benefits, etc…
Intentional? Better use Negligent. It’s hard to prove intent; knowledge of something going on is much easier to prove.
100%. We need more personal liability for the evils of big business, not less
Why would the regime ever hurt itself tho?
This is like when Dr Evil asks for $1 million dollars after being unfrozen. These courts need to get with the times.
102 million is a major fine.
Not for a company with 120 Billion profits.
102 million is a major fine for you. For meta that’s less than 1% of their last quarter (which was 13 billion net income).
If you make $50k/yr after taxes, the equivalent fine would be on the order of about $120.
Where I’m from, that’s a speeding ticket.
To put it into perspective, the fine was 0.8% of that net income.
This is less than a rounding error.
It is absolutely not, but I understand it’s easy to lose sense of scale when you go into billions territory.
Should be like GDPR fines: 4% of your annual global revenue.
Edit: just read “It has so far fined Meta a total of 2.5 billion euros for breaches under the bloc’s General Data Protection Regulation’s (GDPR), introduced in 2018, including a record 1.2 billion euro fine in 2023 that Meta is appealing”
Wow, Meta really likes donating to the EU
Meta: The company whose products you use when you absolutely, positively, don’t give a shit that they are the worst example of the worst nightmare of a consumer-hostile, privacy-invading, you-are-the-product, tech company. Yes, even worse than Microsoft.
If it’s free, you are the product.
I haven’t paid for Lemmy yet. Well, other than volunteer time.
I guess if we want something where we’re not the product, we have to build it ourselves.
Even without any potential monetization by anyone… you kind of are? You are part of the community here, and that’s what people come here for. Lemmy’s community is the product it offers, and you are a piece of it.
I wish more people on Reddit and Twitter would recognize that and use more discretion with who they’re creating a product for.
Quick math: this is only 0.076% of their 2023’s revenue. No wonder big corporations don’t give a fuck about fines and will continue doing fucked up/illegal shit. This is not a fine, this is a green light, my friends.
They literally just consider fines as a cost of doing business.
And these are the people who demand id to get back into your account if they find activity they deem suspicious.
Considering how old Facebook is, you’d think they would have their shit together when it comes to password security…
Considering how old Facebook is…. They probably never bothered to upgrade the authentication system because “if it ain’t broke, don’t fix it” and it didn’t matter to their revenue.
Facebook is huge and has very diverse teams/departments. It’s absolutely possible the guys who know what security is, and the guys who build app xyz are in different departments, countries, continents.
The capitalists want us to believe otherwise, but large corporations are just as convoluted and inefficient as a planned economy.
That “m” should be a “b”. For a company that size, there is truly no excuse!
Meta’s revenue is in the tens of billions. This fine isn’t even a rounding error for them. This isn’t something that should be taken so lightly.
Have you seen IT budgets? Some vice-president of technology is going to be pissed his numbers look bad compared to his peers during their weekly numbers measuring contest.
Yeah that was just a cost of business. Zuck probably pulled that from under his couch.
They still store the passwords like that? I remember that quote of Zuckerberg doing so, in the early days, and boasting about it to a friend… This was so outrageous at the time. Now it’s beyond absurdity… Not to mention the fine is so small!
Not to excuse them, but this is from 2019. Yes, that behavior was so outrageous at the time, but hopefully it is no longer happening
Also, nobody reads the actual posts, just the headlines. They were accidentally stored in logs:
As part of a security review in 2019, we found that a subset of FB users’ passwords were temporarily logged in a readable format within our internal data systems,
which is something I’ve seen at other companies too. For example, if you have error logging that logs the entire HTTP request when an error happens, but forget to filter out sensitive fields.
Jesus, why not fine them 5 bucks?
What a joke.
