Facebook’s $5 billion speeding ticket

Five billion dollars. That’s how much Facebook will have to fork over to the government under a settlement with the Federal Trade Commission.

It’s the biggest fine for violating user privacy by a wide margin – 200 times bigger than the previous record, according to the FTC chair. But some are already saying the settlement doesn’t go far enough.

So after this settlement, can Facebook say it has paid its debt to society? Or did Zuckerberg and company just make out like bandits?

CNBC’s Jon Fortt breaks it all down with Farhad Manjoo of The New York Times.

Fortt Knox is a weekly podcast from CNBC anchor Jon Fortt. Previous episodes of the program can be found here.

Articles You May Like

10 things to watch in the stock market Monday: Goldman Sachs, Nvidia, Constellation Brands
Here’s how Biden’s new student loan forgiveness plan differs from his first
Peloton quietly drops unlimited free app membership because it failed to bring in paid subscribers
How To Best Manage Your Money In Retirement
EU probe of weight loss and diabetes drugs like Wegovy, Ozempic finds no link to suicidal thoughts

Leave a Reply

Your email address will not be published. Required fields are marked *