Oh yeah, I bet the Meta team is really freaking out about forking over a whole 8.5% of just one year's revenue to get totally off the hook for this mess in the US. Thanks for giving us this the context it deserves, PSG.
"Move fast and break things," sounds like the Trump regime's action plan. Zuck's a cuck.
Facebook started with a pout: Zuck got jilted by a date who didn't show up and started Facebook to get revenge. He's an immoral man. And he harms children. What's the moral cost of that?
" . . . a 1% increase in market cap on a $1.4 trillion company means the settlements — breaking the fever of uncertainty — paid for themselves."
You cannot plead "economic ignorance" so the misleading nonsense of suggesting the 1% increase in market cap value of META shares held by the shareholders pays for the sins of the company is just disinformation.
FFS, you can do so much better.
Your article is a fair interpretation of the issue from your viewpoint, but there are other views.
You're more financially sophisticated -- as is your audience -- to drop such a blatant English major NYT turd.
The government can't be there to protect us from doing dumb things or to protect parents from having to be parents. America is about freedom. It is about making our own decisions not having the government make them for us. We are not like China where the people are presumed to be idiots who must be led by XI Jin ping thought. there ought to be a huge advantage in having a population where everybody is capable of thinking for themselves.
I got off FB in early 2025, right after American voters inexplicably elected a convicted felon and terminal liar to a second term in the White House, and Zuckerberg couldn't scramble fast enough to undo all of Meta's safety valves and plant his head straight up the POTUS' fat rear end.
I figured there would be a mass exodus from FB by all of my fellow, Trump-hating "progressives." But nah. They're still on there, every single day, with their memes and emojis and righteous indignation and etc. etc. A business is only as strong as its clientele. The fact that Meta continues to churn out massive profits says a lot more about its members than it does about Meta.
Scott, thanks for this great piece of journalism. Everything you say rings true, and yes, the fine was a rounding error in the same way that it was to Big Tobacco. Interesting that you didn't bring in Big Oil, but I'm guessing you're waiting for SCOTUS to rule on whether the trials can proceed?
For those interested in why I raise this, this post will tell you all you need to know about Big Oil's corporate malfeasance which, honestly, makes Meta and Big Tobacco look like a small speed bump: https://erictelltales.substack.com/p/big-oil-vs-us
Today's Big Tech platforms are steadily gaining power and remain unchecked and free to maximize their profits at the expense of their users and the rest of us. Google dropped the "Don't Be Evil" mandate years ago because it reduced shareholder value, and today it ignores all fine print regarding tracking despite having been fined $5 billion in 2024 for illegally tracking. So Meta is not alone.
I don't think tobacco is a good analogy. With tobacco, actually harm has manifested in thousands of people. With META, the harm seems presumed based on some correlations. Does not seem like a lock down case. Speeding ticket seems appropriate.
Canada like other countries have tried to tax big media for conducting business in our country, but during the free trade negotiations, that was shut down before negotiations could even begin. The US is the country who has to begin regulating these out of control maniacs. Of course that won’t be possible because of all the lobbyists (BRIBES) which is making Congress and the Senate puppets in a puppet string controlled by the oligarchs of big media, that is why the average American does not trust institutions, unlike other countries your institutions only care for Corporate Greed
Canada has tried to tax the big media conglomerates but I guess all the money they pay for lobbyists (BRIBES) completely shut that down in the free trade negotiations, it is the US who have to develop some sort of regulations and taxes, but the rest of the world knows that it will never happen as long as the oligarch's are controlling the government arms, you know, like puppets on a string because right now that is YOUR senate and congress
The central problem, Scott, is that we've built a society over the past 40 years that venerates "shareholder value" above everything else. You're a hero if you "make a killing", no matter who or how many you've killed. This has saddled us with way too many people with way too much money and way too little integrity. When society turns to spitting on billionaires and ditching corporations for community, we may see lasting change. Thank you for your thoughtful work.
Spot on. Must add that there is so much more to this story than what has been covered. How New Mexico took Meta to trial this summer and won a verdict of $952 million. If states had gotten the same on a per capita, the multistate settlement would be $125 billion. Texas AG Paxton taking a separate settlement on that same day as the multistate that goes lighter on Meta than the 47 other states. The AGs settled after only a week of trial - imagine the ammo states would have had if more than just the Insta chief took the stand. With a settlement, Zuck never took stand. Realistically was this a play to get in Meta's good graces and appease its competitors to set up for the big money prize...data centers. And finally, giving us something to watch, Florida goes to court against Meta - trial date TBD. Thank you as always Prof G Media for keeping it sane.
The platforms are very precise behavioural engineering machines geared to surveillance, manipulation, and profit seeking. Their capabilities effectiveness have just been validated for ~$18bn. Great deal for Meta, real problem for young people and society.
The incentive structure will move to increasing value extraction during the available use hours. Engagement is a function of time exposure and emotion. Reduce the time exposure and increase the emotional salience and you end up at the same place. Watch what Meta does next. To Behavioural Scientists working on these systems check your personal ethics stances.
Marco Fioretti analyzed the deal and said it first. I repeated it. But reporters don’t get credit from late arrivals, even from other bloggers, these days
Oh yeah, I bet the Meta team is really freaking out about forking over a whole 8.5% of just one year's revenue to get totally off the hook for this mess in the US. Thanks for giving us this the context it deserves, PSG.
"Move fast and break things," sounds like the Trump regime's action plan. Zuck's a cuck.
Facebook started with a pout: Zuck got jilted by a date who didn't show up and started Facebook to get revenge. He's an immoral man. And he harms children. What's the moral cost of that?
" . . . a 1% increase in market cap on a $1.4 trillion company means the settlements — breaking the fever of uncertainty — paid for themselves."
You cannot plead "economic ignorance" so the misleading nonsense of suggesting the 1% increase in market cap value of META shares held by the shareholders pays for the sins of the company is just disinformation.
FFS, you can do so much better.
Your article is a fair interpretation of the issue from your viewpoint, but there are other views.
You're more financially sophisticated -- as is your audience -- to drop such a blatant English major NYT turd.
Cheers.
Bravo! In a world where champions of a noble cause have fallen like early winter leaves, Scott keeps lighting the fires, showing the way.
Follow with purpose and stop conceding for the sake of comfort.
Discomfort is the greatest innovator in Mankind. In other words, be pissed. Make change happen.
Thanks, Scott.
The government can't be there to protect us from doing dumb things or to protect parents from having to be parents. America is about freedom. It is about making our own decisions not having the government make them for us. We are not like China where the people are presumed to be idiots who must be led by XI Jin ping thought. there ought to be a huge advantage in having a population where everybody is capable of thinking for themselves.
I got off FB in early 2025, right after American voters inexplicably elected a convicted felon and terminal liar to a second term in the White House, and Zuckerberg couldn't scramble fast enough to undo all of Meta's safety valves and plant his head straight up the POTUS' fat rear end.
I figured there would be a mass exodus from FB by all of my fellow, Trump-hating "progressives." But nah. They're still on there, every single day, with their memes and emojis and righteous indignation and etc. etc. A business is only as strong as its clientele. The fact that Meta continues to churn out massive profits says a lot more about its members than it does about Meta.
Scott, thanks for this great piece of journalism. Everything you say rings true, and yes, the fine was a rounding error in the same way that it was to Big Tobacco. Interesting that you didn't bring in Big Oil, but I'm guessing you're waiting for SCOTUS to rule on whether the trials can proceed?
For those interested in why I raise this, this post will tell you all you need to know about Big Oil's corporate malfeasance which, honestly, makes Meta and Big Tobacco look like a small speed bump: https://erictelltales.substack.com/p/big-oil-vs-us
Today's Big Tech platforms are steadily gaining power and remain unchecked and free to maximize their profits at the expense of their users and the rest of us. Google dropped the "Don't Be Evil" mandate years ago because it reduced shareholder value, and today it ignores all fine print regarding tracking despite having been fined $5 billion in 2024 for illegally tracking. So Meta is not alone.
Not a lawyer but...
I don't think tobacco is a good analogy. With tobacco, actually harm has manifested in thousands of people. With META, the harm seems presumed based on some correlations. Does not seem like a lock down case. Speeding ticket seems appropriate.
Great line:
“Technology isn’t neutral; its design is a function of the degree to which economic power is concentrated.”
Canada like other countries have tried to tax big media for conducting business in our country, but during the free trade negotiations, that was shut down before negotiations could even begin. The US is the country who has to begin regulating these out of control maniacs. Of course that won’t be possible because of all the lobbyists (BRIBES) which is making Congress and the Senate puppets in a puppet string controlled by the oligarchs of big media, that is why the average American does not trust institutions, unlike other countries your institutions only care for Corporate Greed
Canada has tried to tax the big media conglomerates but I guess all the money they pay for lobbyists (BRIBES) completely shut that down in the free trade negotiations, it is the US who have to develop some sort of regulations and taxes, but the rest of the world knows that it will never happen as long as the oligarch's are controlling the government arms, you know, like puppets on a string because right now that is YOUR senate and congress
The central problem, Scott, is that we've built a society over the past 40 years that venerates "shareholder value" above everything else. You're a hero if you "make a killing", no matter who or how many you've killed. This has saddled us with way too many people with way too much money and way too little integrity. When society turns to spitting on billionaires and ditching corporations for community, we may see lasting change. Thank you for your thoughtful work.
OK, Great Post. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Some ideas that make sense and should work against a most serious threat; BRAVO. . . . . . . . . What's Next? ... What are the next steps to actualize the words - to implement NOW? . . . . . Else it's fluff, Feel Good stuff.
Spot on. Must add that there is so much more to this story than what has been covered. How New Mexico took Meta to trial this summer and won a verdict of $952 million. If states had gotten the same on a per capita, the multistate settlement would be $125 billion. Texas AG Paxton taking a separate settlement on that same day as the multistate that goes lighter on Meta than the 47 other states. The AGs settled after only a week of trial - imagine the ammo states would have had if more than just the Insta chief took the stand. With a settlement, Zuck never took stand. Realistically was this a play to get in Meta's good graces and appease its competitors to set up for the big money prize...data centers. And finally, giving us something to watch, Florida goes to court against Meta - trial date TBD. Thank you as always Prof G Media for keeping it sane.
The platforms are very precise behavioural engineering machines geared to surveillance, manipulation, and profit seeking. Their capabilities effectiveness have just been validated for ~$18bn. Great deal for Meta, real problem for young people and society.
The incentive structure will move to increasing value extraction during the available use hours. Engagement is a function of time exposure and emotion. Reduce the time exposure and increase the emotional salience and you end up at the same place. Watch what Meta does next. To Behavioural Scientists working on these systems check your personal ethics stances.
Marco Fioretti analyzed the deal and said it first. I repeated it. But reporters don’t get credit from late arrivals, even from other bloggers, these days