The upshot of Facebook’s grievous exposure of “product information” to the Russian’s Cambridge Analytica is that Zuck pulled out the loose change in the couch and they set aside some cash to pay whatever fine the Federal Trade Commission decides to impose.
On Wednesday, The Washington Post reported that the social network was in negotiations with the Federal Trade Commission over fines relating to the company’s misuse of user data in the Cambridge Analytica scandal. Around the same time, Facebook made it public that it was setting aside between $3 billion and $5 billion for the fine.
Let’s assume the fine is at the top of the range, $5 billion. It’s chump change to Facebook, which brings in around $15 billion in revenue per quarter. And that’s bugging the crap out of some people because they want Facebook to feel the sting, to hurt, to suffer, and while even $3 billion would probably be hard on most of us, not Zuck. Continue reading

