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When your stock surges after a $5 billion fine — you're essentially too big to be held accountable. https://t.co/laXZSTvd4r #Facebook #FTC pic.twitter.com/ajlp3bE9vF
— Frederike Kaltheuner (@F_Kaltheuner) July 13, 2019
Facebook is going to pay a fine larger than the entire “market cap” of EOS. And it’s like, just a settlement, which FB is probably satisfied with
— Udi Wertheimer [#irresponsible] (@udiWertheimer) July 12, 2019
Shitcoins are so screwedhttps://t.co/VoZ10LHWfp
Crazy Rich Facebook? They just agreed to pay a fine to the feds that’s big enough to #BuildTheWall https://t.co/qbh2J3DsBR
— Jennifer Bukowsky (@esqonfire) July 12, 2019
FTC Approves Roughly $5 Billion Facebook Settlement - WSJ https://t.co/qDfIwWCGxr
— Privacy Matters (@PrivacyMatters) July 12, 2019
FTC Approves Roughly $5 Billion Facebook Settlement - related to long-running probe into FB privacy missteps & FTC investigation that began after personal data of tens of millions of FB users improperly wound up in the hands of Cambridge Analyticahttps://t.co/IHCWWDqCj1
— Wendy Siegelman (@WendySiegelman) July 12, 2019
FTC settlement with FB is out. The terms are strict. The Chair of the FTC gets on all fours so Mark Zuckerberg can sit down on a human bench. Zuck then gets a bib and eats ribs, wiping his hands on the two other commissioners who must act as human napkins. https://t.co/KzjiB7VXpC
— Matt Stoller (@matthewstoller) July 12, 2019
Put it toward the wall. The Federal Trade Commission approved a roughly $5 billion settlement with Facebook stemming from the tech giant’s privacy missteps and Cambridge Analytica https://t.co/rVTvf0YQl2 via @WSJ
— Beri (@sniffydogs) July 12, 2019
Trust the process I said: "FTC Approves Roughly $5 Billion Facebook Settlement" https://t.co/NCzVEOO78U HT: @jrhuddles
— Will Rinehart (@WillRinehart) July 12, 2019
$TTCM I think its kinda humorously ironic that on this very same day Facebook got slapped with a $5 Billion fine for violation of privacy issues on it's platform. None of which exists with #ArKnet Timing is everything....https://t.co/dFFnARJNXt
— Daniel Arrellanes (@Greenthumbs333) July 12, 2019
FTC Approves Roughly $5 Billion Facebook Settlement For Privacy “Missteps” https://t.co/HKbAd7PBep
— Jewhadi™ (@JewhadiTM) July 13, 2019
FTC Approves Roughly $5 Billion Facebook Settlement https://t.co/lqqb34GrDX
— Nick Short ?? (@PoliticalShort) July 12, 2019
BREAKING: Republican FTC members cut a deal with Facebook over the Cambridge Analytica scandal. Facebook will pay $5 billion https://t.co/IRs6VnVc1O
— Scott Stedman (@ScottMStedman) July 12, 2019
WSJ Scoop! The Federal Trade Commission approved a roughly $5 billion settlement with Facebook stemming from the tech giant’s privacy missteps and Cambridge Analytica https://t.co/O2l55YdIqT
— Paul Beckett (@paulwsj) July 12, 2019
The Federal Trade Commission approved a roughly $5 billion settlement with Facebook stemming from the tech giant’s privacy missteps and Cambridge Analytica https://t.co/bZcZcnu54p
— Josh Caplan (@joshdcaplan) July 12, 2019
$5 Billion 4 privacy violations plus fixes ain't chump change even 4 Facebook. Let's see if lessons learned. FTC Approves Roughly $5 Billion Facebook Settlement https://t.co/2EvfYpiUu9
— davd soul (@davdsoul) July 12, 2019
Facebook gets slapped 5 Billion fine for privacy issues. https://t.co/WL4hW6qrLj https://t.co/BslSmM7LDk
— MachineTrader (@ACLLO613) July 12, 2019
$5,000,000,000 settlement with the FTC
— Joel Winston (@joelwinston) July 12, 2019
/
87,000,000 Facebook users breached
= 57.47 Libra per victim.https://t.co/Y2lJ235jVp
A 3-2 vote along party lines is definitely not ideal for an FTC settlement of this magnitude: https://t.co/oZkSr8n1Ss
— ashkan soltani (@ashk4n) July 12, 2019
FTC Approves Roughly $5 Billion Facebook Settlement #urca https://t.co/3g5CgySIqZ
— daniele manca (@Daniele_Manca) July 12, 2019
FTC Approves Roughly $5 Billion Facebook Settlement https://t.co/v6KG1E2lxg
— Whitney Merrill (@wbm312) July 12, 2019
FTC reportedly approves $5 billion fine for Facebook https://t.co/nWZsJAwUzR
— Jeffrey Levin (@jilevin) July 12, 2019
FTC Nukes Facebook with Record $5B Fine and Zuck Will Laugh It Off https://t.co/wbSWjqAstf
— CCN Markets (@CCNMarkets) July 13, 2019
The FTC just gave Facebook a Christmas present five months early.
— David Cicilline (@davidcicilline) July 12, 2019
.@RonWyden not happy with #FTC pic.twitter.com/dg7ewd1n22
— Dan Stoller (@realdanstoller) July 12, 2019
Absolutely. Even $5 billion isn’t enough. Facebook facilitated the perversion of democracies across the globe and is still doing it. It, as a company, is a danger to all of us. @chrisinsilico’s revelations that led to this should have resulted in a total collapse of FB. https://t.co/EHQfKAWZT1
— Shahmir Sanni ?️? (@shahmiruk) July 13, 2019
[Facebook] had more than $15bn in revenue in the first three months of 2019.
— CZEdwards (@CZEdwards) July 12, 2019
“This isn’t a fine, it’s a favor to Facebook, a parking ticket which will clear them to conduct more illegal and invasive surveillance,” said Matt Stoller, a fellow at the Open Markets Institute... https://t.co/nTu6qkQNiW
Less than 1/5th their operating income. What a joke. https://t.co/a6g3YC8K3d
— John S. Nash (@heynottheface) July 12, 2019
Friday news dump. Also, Facebook makes $5 billion roughly every three days https://t.co/MPOZDtjGkg
— Mathew Ingram (@mathewi) July 12, 2019
FIVE BILLION DOLLARS is a small price for the prize of connecting the world
— Josh Elman (@joshelman) July 13, 2019
The settlement plus a $5bn fine would be fine if it would only cover specific misconduct and impose remarkable future restrictions. It's bad if it ends all open investigations and lets FB get a free ride for its data business. Most likely, it's the latter. https://t.co/7LLWBAPuHs
— Wolfie Christl (@WolfieChristl) July 12, 2019
In wake of record $5 billion FTC fine, Facebook's stock is very nearly at an all-time high https://t.co/Co3fbjZFAZ
— Christopher Mims ? (@mims) July 12, 2019
these things will be litigated politically in the coming weeks, but it's important to be precise. i detailed the settlement more fully in a piece two months ago, and here are the additional elements on the table https://t.co/PfWPZ4QA3V
— Tony Romm (@TonyRomm) July 13, 2019
The meat of the penalty better come in other sanctions since $5B is merely what Facebook profits per quarter https://t.co/TZvghCboiU
— Josh Constine (@JoshConstine) July 12, 2019
The FTC just slapped Facebook with a record $5 billion settlement for privacy violations.
— Geoffrey A. Fowler (@geoffreyfowler) July 12, 2019
Reminder: Facebook’s 2018 profit was a record $22 billion.https://t.co/E21UzTRYqb
Whatever you think of Facebook or this fine, 8% of annual REVENUE is not a "parking ticket". Last year's net income was $22B. This would be over 20% of that. https://t.co/2cXBTzXhXC
— Steve Faktor (@ideafaktory) July 12, 2019
facebook shares move sharply to highest price on Friday as news of a historic $5 billion fine breaks pic.twitter.com/09qogUyQ53
— dell cameron (@dellcam) July 12, 2019
it is still possible that the FTC didn't do the job it could have/should have/was expected to do on facebook, but again, i just think it's much more complicated than some of the twitter pundits have presented it to be
— Tony Romm (@TonyRomm) July 13, 2019
FTC is a consensus based commission. Or was, anyway. This settlement is a joke. Congress is already angry at the FTC. Here's @SenBlumenthal and @HawleyMO when rumors of this pathetic settlement came out in May. https://t.co/RHCcjIyUgD https://t.co/BJFL4YeJPz
— Matt Stoller (@matthewstoller) July 12, 2019
The Facebook settlement shows two things. First, Congress should investigate the Federal Trade Commission and cut its budget. Second, state attorneys general like @AGKarlRacine are the only hope to enforce the law. https://t.co/KzjiB7VXpC
— Matt Stoller (@matthewstoller) July 12, 2019
i think some of the discourse around the FTC/FB settlement is misleading. first, it's more than a fine, and we've reported those details, and folks are suggesting otherwise. and second, there's a difference between a weak agency and a weak law, and us doesn't have a privacy law
— Tony Romm (@TonyRomm) July 13, 2019
“Here’s another way to say it: the biggest FTC fine in United States history increased Mark Zuckerberg’s net worth. What lesson would you learn from that? Would anyone?” https://t.co/oCpxP0wmbE
— Casey Newton (@CaseyNewton) July 13, 2019
As this story notes, we shouldn’t be fooled by the size of this fine. It may be a record for the timid FTC, but $5 billion is chump change for Facebook, which had $15 billion in revenue last *quarter*. Only a breakup, or new governance, or strong regulation, will matter. https://t.co/FnpH99UaP4
— Walt Mossberg (@waltmossberg) July 13, 2019
Facebooks hears about the proposed Marriott #GDPR fine and says "hold my beer." pic.twitter.com/gqsRWWGagR
— Rick Holland (@rickhholland) July 12, 2019
The FTC are'nt your friends folks.
— Joe Ortiz (@LeoJTravis10) July 12, 2019
It's a guarantee FB will do something like this again in a year or two and you're insane if you don't believe that. https://t.co/6fVqe1fPMx
Facebook shouldn't be fined in cash but stock. Every fine turning over a fraction of ownership of the company to the Gov. Behave or we'll nationalise you bit by bit. https://t.co/KMjzUpkK8a
— rob manuel (@robmanuel) July 12, 2019
This settlement is incredibly pathetic, even for supposed libertarians @FTCPhillips and Christine Wilson. They lack the integrity to even say what they really think, which is Facebook did nothing wrong. Just losers all around. https://t.co/hPHShmZCHW
— Matt Stoller (@matthewstoller) July 12, 2019
Fines don’t curb corporate malfeasance.
— Jesse Eisinger (@eisingerj) July 12, 2019
Even seemingly large ones. https://t.co/fLEDKXKPaR
This kind of criticism is silly at best. Fines aren’t based on company revenue, they’re based on the infraction(s). And the fine isn’t the only deterrent to prevent future misbehavior. https://t.co/yfksAHJvDg
— John S. Wilson (@JohnWilson) July 12, 2019
the fact that fb shares surged instead of sank on the FTC news is the story https://t.co/SztA1iAyOg pic.twitter.com/qDrzaR8J4Q
— rat king (@MikeIsaac) July 12, 2019
Yes. Facebook baked this penalty into the share price months ago, setting up a surge when the fine matched expectations. Facebook made back the fine in hours. https://t.co/04eglul0lw
— Siva Vaidhyanathan??? (@sivavaid) July 12, 2019
'Shares of Facebook surged to $205.27 — the stock’s highest price in the past year — in after-hours trading on Friday after news of the vote became public.' says it all... https://t.co/JV2q6xrr9C
— Elettra Bietti (@Elibietti) July 12, 2019
A $5 billion fine has been approved for Facebook, the biggest ever for a tech company. @cwarzel wrote in anticipation of the move, noting that it allows both Facebook and the FTC to save face and solemnly pronounce that justice has been served. https://t.co/4oBvMnMukp
— New York Times Opinion (@nytopinion) July 12, 2019
that a fine is record setting says much more about the FTC being asleep at the wheel for so long than it does abou the effectiveness of this agreement. We need structural changes, not just monetary fines, and a change in orientation in how companies use our data. https://t.co/5U4St8sabY
— Ari Ezra Waldman (@ariezrawaldman) July 12, 2019
FTC votes to fine facebook 5 instagrams https://t.co/XxjXONp05E
— Richard Nieva (@richardjnieva) July 12, 2019
FTC votes along party lines to fine repeat-offender Facebook $5B for the #CambridgeAnalytica mass data abuse scandal. Additional restrictions that may be imposed have not yet been reported. #TheGreatHack https://t.co/zitzjtXLgE
— David Carroll ? (@profcarroll) July 12, 2019
.@SenBlumenthal is purely pissed here. Calls for #FTC hearings. pic.twitter.com/tKbv2T1dmF
— Dan Stoller (@realdanstoller) July 12, 2019
Flashback to May when @HawleyMO and @SenBlumenthal said $5 billion would be a “bargain” for Facebook. https://t.co/pS969cfWRo
— Dean DeChiaro (@DeanDeChiaro) July 12, 2019
Facebook is valued at $584.8 billion. The fine is less than 1% of that amount. The market responds:https://t.co/tl4MR3OBMQ pic.twitter.com/j6lVjsMvmr
— Hamza Shaban (@hshaban) July 12, 2019
The reaction within FB to the FTC fine of $5 billion is... relief. Relief that it is over and won’t continue to be part of the news cycle for months to come, and that the talk of directly punishing Zuckerberg was what they always suspected- a negotiation tactic.
— Sheera Frenkel (@sheeraf) July 12, 2019
Facebook said it may have to pay FTC up to $5 billion https://t.co/Lm8y9UV5uU now they are https://t.co/4Ibp73CC5a Key line: "A settlement is expected to include other government restrictions on how Facebook treats user privacy."
— Peter Kafka (@pkafka) July 12, 2019
The FTC just voted to let Facebook off easy with a $5 billion settlement for compromising the data of tens of millions of Americans and allowing our elections to be improperly influenced.https://t.co/N11V0yqchO
— Elizabeth Warren (@SenWarren) July 12, 2019
.@MarkWarner also sounding off re: #Facebook. pic.twitter.com/eGW2IlhY1K
— Dan Stoller (@realdanstoller) July 12, 2019
$5 BILLION settlement tells you.
— Jason Kint (@jason_kint) July 12, 2019
(1) It was as bad as a few of us always thought it was.
(2) A lot of evidence and wrongdoing may now be buried in the past.
(3) Let's trust state AGs, SEC, others discover #2
(4) It's Friday night, I bet Facebook jumped it. https://t.co/mM3MuvUPia
The FTC is foolish & foolhardy to rely on money alone to punish decades of past privacy violations & ongoing profiteering. https://t.co/D6jf2yicG4
— Richard Blumenthal (@SenBlumenthal) July 12, 2019
Facebook did $15 billion in revenue last quarter alone https://t.co/guObIKHM2f
— nilay patel (@reckless) July 12, 2019
I have no direct knowledge but if its 3/2 and I had to guess:
— ashkan soltani (@ashk4n) July 12, 2019
1) the settlement likely absolves Facebook for conduct well beyond just Cambridge Analytica
2) the amount of direct liability on Zuckerberg is likely very limited
In light of the news that Facebook will be fined $5 billion - here's my column from April about what *an actual penalty* would look like for Facebook. https://t.co/ABVUXnCFPj
— Charlie Warzel (@cwarzel) July 12, 2019
Surely they’ve learned their lesson! https://t.co/dv1yvX1JRi
— Anil Dash ? (@anildash) July 12, 2019
JUST IN: The FTC has voted to approve a nearly $5 billion settlement with Facebookhttps://t.co/PecsadN7Pw
— Axios (@axios) July 12, 2019
That's about a month's worth of FB's revenue...
— Major☕Covfefe?? (@MajorCovfefe) July 12, 2019
More than a fine, there better be policy CHANGE for the better!#BigData #BigTech #KAG #Q #WWG1WGA https://t.co/BtPABQxLJL
Hey @jeremiahg, you’ll like this one. @facebook fined $5 billion. Since announcement, their market cap is up $6 billion.
— Frank McGovern (@FrankMcG) July 12, 2019
So, security is basically a waste of time and money? In the eyes of stakeholders, which is all that matters...https://t.co/dFHZ3OTe8V
THIS JUST IN: MORE DETAILS FROM @EPICprivacy will be posted soon. https://t.co/4MOH94Ex5T
— EPIC (@EPICprivacy) July 12, 2019