It's a $3 million verdict in compensatory damages. Even if reduced on appeal, that's a lot of money.
This is really bad for Meta.
This is really bad for Meta.
Where are you seeing that?
The article says:
> Jurors found there were thousands of violations, each counting separately toward a penalty of $375 million. That’s less than one-fifth of what prosecutors were seeking.
> Meta is valued at about $1.5 trillion and the company’s stock was up 5% in early after-hours trading following the verdict, a signal that shareholders were shrugging off the news.
> Juror Linda Payton, 38, said the jury reached a compromise on the estimated number of teenagers affected by Meta’s platforms, while opting for the maximum penalty per violation. With a maximum $5,000 penalty for each violation, she said she thought each child was worth the maximum amount.
they did $200 billion in revenue and $60 billion in net income last year.
a $3 billion fine would be barely more than a slap on the wrist.
$3m is nothing. 10% of global revenues (not profits) for each year in which this occurred would be something that might actually make them think twice about breaking the law and harming people for money.
Will literally never happen. It's impossible. I'm not talking figuratively impossible. At his level of wealth and influence, there are good odds he could murder someone on live stream and walk away. You are dangerously underestimating the influence the rich have in every aspect of society and law.