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1. Bob Mottram 🔧 ☕ ✅ (bob@soc.freedombone.net)'s status on Wednesday, 11-Jul-2018 09:11:41 EDT Bob Mottram 🔧 ☕ ✅
   Ok so Facebook is getting fined by the UK privacy regulator (I didn't know there was one).
   
   Facebook's quarterly net income is about $500 million, so that's about $2000 million per year.
   
   The fine is £500,000 or $663279 at current exchange rate.
   
   So they're being fined 0.03% of their yearly income. This will clearly be a major deterrent to Facebook committing privacy violations (sarcasm).
   1. switching.social (switchingsocial@mastodon.at)'s status on Wednesday, 11-Jul-2018 09:14:12 EDT switching.social

      in reply to

      @bob

      £500k is the maximum fine they can impose.

      The regulator is trying their best but the UK government won't give them enough resources or powers.