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Facebook taking a 5 billion dollar fine over privacy

Discussion in 'Too Hot for Swamp Gas' started by oragator1, Jul 12, 2019.

  1. oragator1

    oragator1 Premium Member

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  2. gatorknights

    gatorknights GC Hall of Fame

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  3. oragator1

    oragator1 Premium Member

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    I agree that they aren’t going to be out crying for money to pay it with, they set aside 3 billion last quarter already.
    But this will send a message across the internet world, it was a 200 fold increase over the previously largest leveled fine for privacy. The government is finally getting serious about it, everyone will take notice.
    The other good news is that this wold be .5 percent of our deficit for this year, so that’s a help :).
     
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  4. GatorNorth

    GatorNorth Premium Member Premium Member

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    It’s almost a years NOI but I’m sure they’ve already created a much larger reserve than they’ve settled for so the $5B may actually result in an earnings increase once they reverse the overage now that they’ve settled.
     
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  5. LimeyGator

    LimeyGator Premium Member

    Like.

    upload_2019-7-13_8-24-34.png
     
  6. gator7_5

    gator7_5 GC Hall of Fame

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    Fine to who? How does that money get spent?
     
  7. AndyGator

    AndyGator GC Hall of Fame

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    Meh. I've paid more
     
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  8. gatorknights

    gatorknights GC Hall of Fame

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    $5 Billion? Let me get out my checkbook. Money well spent. Cost of doing business.
     
  9. Crusher

    Crusher GC Hall of Fame

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    My kids tell me only old fogies use facebook...so it may be out of business in the near future anyway!