It should be 100k per user per day. Otherwise it’s just a rounding error for them. I can also garantee that no user on Facebook is generating 100k in ad revenue in a single day. Let alone that much in a year.
Came to say the same, this is just a cost of doing business for Meta.
That’s like fining a person 0.01 per day for speeding. The company sees it as a limited time only discount and invitation to do it a TON right now and get people accustomed to it, before the people who don’t like it start complaining louder. From Facebooks perspective its a black Friday sale on Norwegian data.
From the linked techcrunch article:
will face fines of up to one million NOK (~$100k) per day.
unless it obtains users’ consent to the processingFrom the order itself:
The order applies from 4 August 2023
we may decide to impose a coercive fine of up to NOK 1 000 000 (one million) per dayMisleading title.
unless it obtains users’ consent to the processing
“Do you consent to the processing?”
‘No, I do not consent’
[Account Suspended]
“Wait, I CONSENT! Please, take all my data! Take all the data of my entire family and everyone I’ve ever associated with online! ANYTHING but suspend the account. PLEASE!”
‘Thank you for your patronage.’
It’s going to be closer to an E-mail saying “We are informing you that we have updated our privacy policy.” which nobody is going to read. And the change is going to be an added line of “With continuation of usage of our products and services in the Norway region you give meta the right to collect and processes your information for marketing purposes.”. Which also nobody is going to read. Voila, plausible consent.
For what it’s worth, a lot of countries with decent privacy laws are looking at closing that stupid loophole by requiring “affirmative consent” whenever something changes to the detriment of the consumer (i.e., more data, wider scope, etc.), meaning the companies would have to require the user to take some action to affirm they consent.
Those same proposals also have provisions prohibiting account suspension / blocking for not consenting. I.e., you can say “no” and continue to use the service exactly as before, though, newer features may be blocked.
Fines shpuld be based a percent of income. A multi billion company lole meta wont care about this tiny fine
So it’s essentially a fee
100k a day is not even worth looking at for them.
100k a day for operating in a country of 5 million people. The question isn’t “how much does this affect their global earnings?”, it’s “is it worth paying 100k a day to run personalized ads in a country with a population of Minnesota?”
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which is presumably according to plan for norway, they get an easy source of extra income.
Maybe but 100k a day is not noteworthy for a country like Norway either.
It’s not, but 36.5 mill a year, if spent on one or two projects that aren’t otherwise receiving much funding, can still make a significant change in something.
Fine should be larger. And more countries should join in.
Thank you for coming to my ted talk.
Just getting a fine and making huge benefits so it is “worth” to keep doing? It should be banned because it keeps doing ilegal actions but since they have money they can do whatever they want
Do they really make a hundred grand a day in Norway though? It’s not a big country.
Nah. I would hate to live in a country that bans personalized ads. It would be like living in the 90s watching cable TV seeing completely irrelevant tampon and baby ads as a single dude.
Personalized ads are much less annoying than the “spray-and-pray” noise we used to deal with.
personalised ads mean tracking
And how has ad tracking personally harmed you or even inconvenienced you?
“If there’s nothing to hide, there’s nothing to worry about”
It’s so much better having your phone listen to you when you talking about holidays and showing you airplane tickets for months to come
“Takes from lemmy.world users”
100k? That’s not even a rounding error for them.
100k/day (36.5 million anually) is ~0.03% of Meta’s 2022 profits (121 billion). That’s not a fine, it’s barely even a tax. If you make 50k/year profit and the government gave you a similar fine, they’d be taking $15 from you. That sounds more like bribe money for Norwegian politicians than a good faith attempt to protect their citizens.
I have a hard time believe they profited 121 billion dollars, when their 2022 gross revenue was 116 billion
I’m sure it’s still a ridiculous amount of profit but that number seemed way to big at first glance so I had to check
I admittedly didn’t look too hard for that 121bil figure, your source seems much better than the “Google it and grab the first number I see” approach I used. I see 91.36B gross profit for 2022 in your source. That makes the 36,500,000 fine ~0.04% of their profits instead or the 0.03% I got at first, equivalent to a $20 fine on 50k profit. I think the rest of what I said is still valid with the new numbers. Thanks for keeping me honest!
You confused revenue and profit. You must subtract expenses to calculate the profit. For example, if you buy something for $20 and sell it for $21, your revenue is $21, but your profit is only $1.
Facebook reported a profit of $39 billion in 2021 and $23 billion in 2022. This takes their expenses (salaries, offices, data centres, etc.) into account.
Should have been “per user per day”
$100k is nothing to these people. It’s like your or I paying $0.25 a day. They see it as the cost of doing business.
It should be a number “per user” “per day” not just a “per day”. Make it really hurt based on how much it’s being done.
Norway has a population of 5-6 mil. I don’t think there’s enough of them to generate 100k/day, is there? Or maybe that’s worth it, what do I know? They’re not gonna get fined that much anyway
Based on https://www.investopedia.com/ask/answers/120114/how-does-facebook-fb-make-money.asp 39$/user/year for Facebook & Messenger alone. In a country of 5-6M people, let’s say 5.5M, with 70% of the population being users ( from: https://www.statista.com/statistics/584917/facebook-users-in-norway-by-age-group/ ), that gives ~3.85M users * 39$ = 150.15M$/year, 12.5M$/month, or 417k$/day. Norway is a rich country, so one should assume a Norway user’s revenue is higher than the 39$ average.
So, 100k$/day is certainly a decent figure for Norway’s operations, meaning a local Facebook senior manager must be in panic right now. But Would that local senior manager have any power to change anything given Norway is such a small market but yielding would set a precedent for all other EU members? That’s what is at stake!
Is there a /c/theydidthemath anywhere? Good work.
Damn, thanks for the reply. That was definitely not what I was expecting. But now that I read it… it makes total sense
Damn, thanks for the reply. That was definitely not what I was expecting. But now that I read it… it makes total sense
That’s peanuts for a company that size. That’s the cost of doing business.
Facebook somehow makes about $18 per person on the planet in ad revenue.
Norway is 5 million people or $90 million/year all else being equal.
$100k/day is $36.5 million/year.
So, it’s less than it should be by probably a factor of 4-5, but still not so small they won’t feel it
It’s still better than nothing. I guess it’s the beginning.
How many people do you guys know who have Signal installed who also use Facebook / Insta? Feel like these are separate circles in a venn diagram.
That’s me. I’m not abandoning friends who are solely reachable on FB/Insta, but I’ll also talk on signal when possible
Most of the family members I’ve gotten to use signal still use FB and insta
So, about .000000001 of what they make a day?
They make $10,000,000,000,000 a day? Must be a hell of a business model.
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