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Meta being fined $100k a day for personalized ads in Norway
(techcrunch.com)
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this post was submitted on 17 Jul 2023
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That's peanuts for a company that size. That's the cost of doing business.
Facebook somehow makes about $18 per person on the planet in ad revenue.
Norway is 5 million people or $90 million/year all else being equal.
$100k/day is $36.5 million/year.
So, it’s less than it should be by probably a factor of 4-5, but still not so small they won’t feel it
That's why if a fine does not exceed the benefit the company gained from it, it's not a deterrent but a cost of business.
The way I read it, the fine is capped to $1M NOK.
This is what you might call a "public-private partnership".