Facebook facing fine from UK government
Yesterday, it was announced that the British government plans on fining Facebook for their role in the Cambridge Analytica scandal. The UK’s Information Commissioner’s Office claims Facebook failed to ensure another company had deleted users’ data. Because of this, the ICO is looking to fine Facebook the maximum amount allowed by British law. While that may sound impressive, the actual amount is paltry compared to Facebook’s net worth.
The ICO is planning on levying a fine of £500,000 against the social media juggernaut. That equates to around $663,000 in US figures. If this fine is imposed it will no doubt have little to no impact on Facebook since the house that Mark built probably makes this amount in less than a minute. Facebook CEO Mark Zuckerberg could probably pay this fine just from the change cup in his Acura.
Fines probably mean nothing to Facebook. Even if they were to be fined $1 billion, they could recoup that loss in a matter of days. Facebook won’t enact any real change until governments start threatening to regulate. It doesn’t even have to be the US government as the EU famously got both Microsoft and Google to curtail some of their more questionable business practices. Until then, Facebook will shake off any fine like so many fleas from a dog.
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