That’s another €1.2bn for the Irish exchequer, for what it’s worth.
Ignorant on these things, but where does that money go?
Can I get any of this money?
With layoff’s being announced this week too in Irish offices, not a great week for Meta it seems
The cost of doing business.
Where does the fine go? Surely Ireland does not get to keep it? Article does not say.
The major hit is not exactly the fine, but that they have 6 months to stop sending data about EU users to the US, and delete data already sent. Let’s see how it goes.
A pittance for FB. Merely a small tax, the price of doing business.
Nothing will change.
>The Irish Data Protection Commission said it disagreed with the fine and measure that it was imposing on Meta but had been forced by the pan-European network of national regulators, the European Data Protection Board (EDPB), after Dublin’s initial decision was challenged by four of its peer regulators in Europe.
Ireland will probably go to bat for Meta the same as they dis for Apple.
Fine Gael is about to throw themselves in front of Meta like Apu jumping in front of James Woods.
Meta is worth 629.5bn. Fine is 1.2bn.
That’s 0.19% of their value.
In relative terms it’s like someone with a 300k pub getting a fine for 570 quid.
What the IT left out for whatever reason is that the DPC resisted this ruling:
>The Irish DPC’s role in this procedure is exceptional, as it has consistently tried to block the case from going ahead, in 2013 it rejected the original complaint as “frivolous” – requiring Mr Schrems to go all the way to the CJEU. The DPC then took the view that it cannot take action, given that Meta made use of so-called “Standard Contractual Clauses”, which was again rejected by the CJEU, who told the DPC that it must take action. Finally, the DPC tried to shield Meta from a fine and the deletion of data that is already transferred, just to be overturned by the EDPB. Overall these procedures lead to costs of more than 10 million Euro – the fine, however, will go the Irish state.
Just out of interest, I wondered how much your data is worth to Facebook. That’s impossible to tell for me.
But two simple numbers – their revenue, and their userbase can tell a lot.
Revenue in 2022 was 116 billion approx. Current userbase is 2.91billion. Divide one by the other and you get about 40$ revenue per user.
It’s a rough indication of it is worth to Facebook to continue sending that data across the pond. I see data as a kind of unrealised asset on behalf of technology users. I am reminded of what Yanis Varufakis calls Techno Feudalism.
In different ways, we are generating revenue for tech companies for no monetary reward. You create value for google by carrying an android phone with location sharing on. They can tell how busy the traffic is, etc etc… Even now, by typing into reddit, I am creating content that will contribute to the site’s ability to select ads to show and get eyes on those ads.
Internet 2.0 is a load of exploitative shit. My fear is Internet 3.0, with its NFTs and metaverse is going to be a whole lot worse.
Wait and see FG come out and say they don’t want it
Good should have been higher. They made 10 times that off the information they’re selling.
Dublin’s Data Protection Commissioner (DPC) got shafted by the EU central DPC committay again. She’s basically done herself out of a job – the Euro central council upped the fine and the punishment the Irish DPC wanted and they keep assuming responsibility for rulings now because they lost faith in the Irish to uphold the regulations.
That is less that one percent of their profits.
Having been laid off from them in February, this stuff doesn’t surprise me at all. Knowing the rest of my team are being sent on their arse this week also makes me have even less sympathy.
With their metaverse on its arse and fines like this, it’s no wonder they have such a terrible reputation.
Meta layoffs coming soon
Thanks for smacking them, please be kind to the agency that did it.
Are we taking bets as to how quickly Meta will be able to find a way to get out of having to pay?
The EU basically forced the Irish DPC to do her job after the government tried to weasel its way out of enforcing the law.
Anyway, I can’t wait for this cash to be used to pay down debt or thrown in the rainy day fund. Just in case it might be spent usefully instead.
So where does that money go? It’s hardly to those whose privacy was compromised… I mean €1.2B is a lot of cheddar!
Nice, that will cover half the children’s hospital.
Once upon a time a million was big money! Now, I’m not sure you could retire on it! But we are expected to, on €220 a week so billions is irrelevant to the general public!
I hope Marky Mark and the Zuckercrew are shitting their pants right now
28 comments
That’s another €1.2bn for the Irish exchequer, for what it’s worth.
Ignorant on these things, but where does that money go?
Can I get any of this money?
With layoff’s being announced this week too in Irish offices, not a great week for Meta it seems
The cost of doing business.
Where does the fine go? Surely Ireland does not get to keep it? Article does not say.
The major hit is not exactly the fine, but that they have 6 months to stop sending data about EU users to the US, and delete data already sent. Let’s see how it goes.
A pittance for FB. Merely a small tax, the price of doing business.
Nothing will change.
>The Irish Data Protection Commission said it disagreed with the fine and measure that it was imposing on Meta but had been forced by the pan-European network of national regulators, the European Data Protection Board (EDPB), after Dublin’s initial decision was challenged by four of its peer regulators in Europe.
Ireland will probably go to bat for Meta the same as they dis for Apple.
Fine Gael is about to throw themselves in front of Meta like Apu jumping in front of James Woods.
Meta is worth 629.5bn. Fine is 1.2bn.
That’s 0.19% of their value.
In relative terms it’s like someone with a 300k pub getting a fine for 570 quid.
They’ll be fine…
All together now. “Awwwwwwwwwwwwwww”
Drop in the ocean
As posted on a duplicate thread, more context to this decision here at NOYB:[https://noyb.eu/en/edpb-decision-facebooks-eu-us-data-transfers-stop-transfers-fine-and-repatriation](https://noyb.eu/en/edpb-decision-facebooks-eu-us-data-transfers-stop-transfers-fine-and-repatriation)
What the IT left out for whatever reason is that the DPC resisted this ruling:
>The Irish DPC’s role in this procedure is exceptional, as it has consistently tried to block the case from going ahead, in 2013 it rejected the original complaint as “frivolous” – requiring Mr Schrems to go all the way to the CJEU. The DPC then took the view that it cannot take action, given that Meta made use of so-called “Standard Contractual Clauses”, which was again rejected by the CJEU, who told the DPC that it must take action. Finally, the DPC tried to shield Meta from a fine and the deletion of data that is already transferred, just to be overturned by the EDPB. Overall these procedures lead to costs of more than 10 million Euro – the fine, however, will go the Irish state.
Just out of interest, I wondered how much your data is worth to Facebook. That’s impossible to tell for me.
But two simple numbers – their revenue, and their userbase can tell a lot.
Revenue in 2022 was 116 billion approx. Current userbase is 2.91billion. Divide one by the other and you get about 40$ revenue per user.
It’s a rough indication of it is worth to Facebook to continue sending that data across the pond. I see data as a kind of unrealised asset on behalf of technology users. I am reminded of what Yanis Varufakis calls Techno Feudalism.
In different ways, we are generating revenue for tech companies for no monetary reward. You create value for google by carrying an android phone with location sharing on. They can tell how busy the traffic is, etc etc… Even now, by typing into reddit, I am creating content that will contribute to the site’s ability to select ads to show and get eyes on those ads.
Internet 2.0 is a load of exploitative shit. My fear is Internet 3.0, with its NFTs and metaverse is going to be a whole lot worse.
Wait and see FG come out and say they don’t want it
Good should have been higher. They made 10 times that off the information they’re selling.
Dublin’s Data Protection Commissioner (DPC) got shafted by the EU central DPC committay again. She’s basically done herself out of a job – the Euro central council upped the fine and the punishment the Irish DPC wanted and they keep assuming responsibility for rulings now because they lost faith in the Irish to uphold the regulations.
That is less that one percent of their profits.
Having been laid off from them in February, this stuff doesn’t surprise me at all. Knowing the rest of my team are being sent on their arse this week also makes me have even less sympathy.
With their metaverse on its arse and fines like this, it’s no wonder they have such a terrible reputation.
Meta layoffs coming soon
Thanks for smacking them, please be kind to the agency that did it.
Are we taking bets as to how quickly Meta will be able to find a way to get out of having to pay?
The EU basically forced the Irish DPC to do her job after the government tried to weasel its way out of enforcing the law.
Anyway, I can’t wait for this cash to be used to pay down debt or thrown in the rainy day fund. Just in case it might be spent usefully instead.
So where does that money go? It’s hardly to those whose privacy was compromised… I mean €1.2B is a lot of cheddar!
Nice, that will cover half the children’s hospital.
Once upon a time a million was big money! Now, I’m not sure you could retire on it! But we are expected to, on €220 a week so billions is irrelevant to the general public!
I hope Marky Mark and the Zuckercrew are shitting their pants right now