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Comment by Havoc | Hacker News Reader

>The parties agreed up front on when and how often Facebook would bid in auctions, and when and how often Facebook would ultimately win.

That sounds rather cartel-like

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This sounds exactly like the LIBOR rigging scam, various commodity market scandals. People rightfully go to jail for this stuff -- meanwhile we see the big tech companies bid rig

Actually, we didn't see that many people go to jail for rigging the LIBOR rate. There were a few fall guys but a lot of people made a lot of money.

It was a fake rate anyway and they only moved it around a little, what Jedi Blue did was far more criminal and egregious. The ad networks act with impunity, for example, they know when a user has installed an app with no connection to them and then they serve that user ads for the app and then attribute the install to themselves! out and out fraud but they'll just claim the algo is really complex and our ML/AI doesn't have intent.

“Give us lots of money or you will lose your business” is basically they argument. It obviously works in some cases but I seriously suspect most advertising money is wasted.

>It was a fake rate anyway

It was my impression that everyone uses LIBOR, so even a tiny change has massive consequences.

Many rates were based on LIBOR, but LIBOR itself was used for nothing other than betting, no one was lending or borrowing at it.

Which is exactly what I said?

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