Meta reaches $16.68 billion settlement over social media

[TaylorSwift 162,983]

Meta Platforms, opens new tab agreed to pay a maximum $16.68 billion and make major changes to Facebook and Instagram to resolve claims by states across the U.S. that the company designed those platforms to addict children, ‌misled consumers about their safety and improperly collected children's personal data.

Meta will impose daily usage limits and restrict nighttime usage by children who use Facebook and Instagram, and enhance measures to prevent childrenfrom accessing age-restricted content. x

[RAMROD 117,616]

Can't wait to get another $5-$10 on a cheque in my mailbox from them 

And yes, I am not joking. I received a few from another settlements before. 

[dynamite 67,264]

4 minutes ago, RAMROD said:

Can't wait to get another $5-$10 on a cheque in my mailbox from them 

And yes, I am not joking. I received a few from another settlements before. 

Why the hell didn't I? 

[onTheBrink 1,563]

16bn, damn

[Hydrangea 8,060]

Their executives should receive a settlement from their necks into a basket 

[iAmToton 240]

From a potential $1.4 trillion exposure to a $16.68 billion settlement, Zuck knows how to haggle. 😏

In the end, I think accepting the settlement was beneficial. Going to trial and losing could have exposed Meta to a liability potentially comparable to its entire market capitalization.

Very demure, very mindful, very beneficial for the plaintiffs. 💅

Now they can start putting some money aside for the next wave of lawsuits, this time concerning the Meta Glasses. 😎
 

EAT THE RICH 🍽️

[RAMROD 117,616]

7 minutes ago, dynamite said:

Why the hell didn't I? 

They usually send e-mails to notice you beforehand, maybe you've missed it 

[weed 79,169]

times it by 10, that's like $1000 to them. 

Hate that they got off so easy

[Creyk 18,721]

I'm really shocked they "lost" tbh.

[gagzus 24,274]

So basically the restrictions we got here in the UK earlier this year? 
 

I thought they wanted to remove algorithms and infinite scrolling? That would’ve changed social media for the better. Those are the actual addictive elements not the unrestricted access or content. 

Edited 1 hour ago by gagzus