(ThyBlackMan.com) Facebook got hit with $5 billion fine by the Federal Trade Commission for data breaches and user privacy being compromised. While it’s the biggest slap to a tech company on these issues so far, Facebook is a company that easily shake it off. Like Facebook could pay it and make it back in the same year and make more on top of it.
It’s But A Scratch For Facebook
As we know, Facebook sits at over 2.4 billion active users. A chunk of that was hit in the breach but it’s whatever for Facebook. Almost everyone’s had a breach which means if you have accounts with sensitive information on that site or service, you’ve probably been hit multiple times.
Probably. You could’ve been lucky and have the golden password that you had to write down because it’s random in the extreme, but it’s secure. If you haven’t been hit—which you wouldn’t really know since services just send a blanket “Change your password” email—you’re fortunate.
This is why tech is something of a safe bet to invest in. It all depends on the company. A Facebook can handle a $5 billion fine. Easily. The news that the government is breathing down Facebook’s neck is going to cause a stir but that’s mainly because of an unknown—how much will they get hit with? How heavy is the government going to come at this company?
As it was in this case, the FTC was very light. It was light to the point this could’ve happened and no one would’ve needed to report on it. But here we are. What would’ve been interesting is to see how hard Facebook would’ve cried “Foul!” if the FTC would’ve dropped the hammer with $50 billion or $100 billion.
You know, a number that would make Facebook’s knees buckle. Something that would make CEOs go “Hey, what we did last time? Knock that sh** off. We lost $120 billion and no one’s got time for that.”
So What’s Next For Facebook
It’ll be business as usual for Zuckerberg’s company. As my mom says, one monkey don’t stop no show. Facebook dips into its front pocket slaps the FTC with the fine and goes back to what it was doing. Mind you, it might be a little more careful this time around but it’s not going to mess with operations to the point of messing up its money.
Plus, when it comes to social media, the Black demographic has a significant, vocal and influential presence. This is especially true on Facebook. The method it has in place to farm data and roll it back to Black users’ eyes in a bid to get them to buy something, view something, engage with something and so on will stay in place. Holes just have to be patched up, obviously.
Really, the government should’ve swept the leg of Facebook several times but that’s too much like right. This fine isn’t the best that the government could do given the breaches and interference from Russia in our elections. I wouldn’t even call this a close call for the company. A close call would’ve been $50 billion, a lesson would be probably be learned and warn Facebook if it happens again, you’re doubling it.
Would it stop Facebook from dipping its fingers in every data pot and sharing it? No. Would Facebook tighten the hell out its security and prevent further breaches? Yes, if it meant keeping from being exposed and having to take a $100 billion hit. You might even get Facebook snitching when something shady floats its way.
Staff Writer; M. Swift
This talented writer is also a podcast host, and comic book fan who loves all things old school. One may also find him on Twitter at; metalswift.