| ▲ | smuhakg 8 hours ago | |||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||
| ▲ | dotancohen 8 hours ago | parent | next [-] | |||||||||||||||||||||||||||||||
Meta has a net profit over $140 million _per day_. $3 million is absolutely nothing to them. | ||||||||||||||||||||||||||||||||
| ▲ | chimeracoder 8 hours ago | parent | prev | next [-] | |||||||||||||||||||||||||||||||
> It's a $3 million verdict in compensatory damages. Even if reduced on appeal, that's a lot of money. 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. | ||||||||||||||||||||||||||||||||
| ▲ | john_strinlai 8 hours ago | parent | prev [-] | |||||||||||||||||||||||||||||||
how many minutes of revenue is that? 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. | ||||||||||||||||||||||||||||||||
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