The Irish Data Protection Commission (DPC) has fined Meta €91 million for a 2019 incident wherein the company stored millions of Facebook and Instagram passwords in plain text.
And thats is all this is, it isnt for war profiteering it is for poor practices, sure it could be more but people really lose sight of things when it comes to fining these companies.
The fines for targetting children with damaging content or promoting harmful posts should be way more than this and than they are but this isnt an action they directly profitted from it was a lazy and harmful missing of the required mark.
Im not this invested in defending meta but 102 million is a lot for one country to fine one company. Ireland fined the company nearly 1% of their global net for one issue.
102 million is a major fine.
This is less than a rounding error.
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.
And thats is all this is, it isnt for war profiteering it is for poor practices, sure it could be more but people really lose sight of things when it comes to fining these companies.
The fines for targetting children with damaging content or promoting harmful posts should be way more than this and than they are but this isnt an action they directly profitted from it was a lazy and harmful missing of the required mark.
Im not this invested in defending meta but 102 million is a lot for one country to fine one company. Ireland fined the company nearly 1% of their global net for one issue.
Wow you have very forgiving traffic laws where you’re from. $190 for rolling through a stop sign here.
I’ve been told we have state senators who openly claim to only be there to keep speeding tickets low.
To put it into perspective, the fine was 0.8% of that net income.
It is absolutely not, but I understand it’s easy to lose sense of scale when you go into billions territory.
Not for a company with 120 Billion profits.