But you already know what’s even greater? Facebook’s web value. According to EarthWeb, the Meta-owned social platform is value fairly a reasonably penny. And an enormous one at that, over $911 billion. That’s like over a billion Galaxy S23 Ultras!
But the EU has fined Meta once more! Naturally, that is for wrongful dealing with of person information, as a result of at this level, it’s virtually all the time that. And this time round, the wonderful is greater than ever earlier than! And it totals up at… 1,3 billion.
Do you see what I imply?
For the file, Facebook has over 2 billion month-to-month lively customers as of April, 2023. | Image credit score – PhoneArena
So, why does Meta need to pay this astounding insignificant quantity of billions to the EU? To lower issues brief: the EU requires all dealing with of EU resident information to be dealt with inside the EU. man, these are many EUs So after an investigation, Facebook was discovered to be exporting person information outdoors of the area. Hence: violation = wonderful.
The investigation will go on, and the EU’s fits will work along with Facebook’s as a way to discover out if any person information has really been leaked or endangered. Which, in flip, may result in one other wonderful.
Did Facebook do that deliberately? Of course not. Even although it is a financially steady firm, it wouldn’t wish to go round throwing money at random establishments. The motive behind this mishap is that legal guidelines in the US aren’t as strict relating to dealing with of person information, so it looks as if this type of, form of simply occurred.
But provided that that is simply the newest in a sequence of fines for Facebook, by the EU and relating to person information, does it even matter? And given the firm’s web value, is it only a formality at this level? Food for thought.