Meta banned from using personal data for behavioral advertising in EU/EEA - Stack Diary
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The European Data Protection Board (EDPB), a collective of EU data protection regulators, has issued a binding decision to prohibit Meta's platforms from utilizing personal data for behavioral advertising. The full decision is available here (pdf). This development follows Norway's initial three-month ban on Meta-owned platforms employing extensive user profiling for behavioral advertising. Despite this, Facebook and Instagram remained operational in

The EDPB issued an urgent binding decision that essentially bans Meta from using personal data for behavioral advertising in the entire European Economic Area (EEA).

  • Poggervania@kbin.social
    01·
    11 months ago

    I always thought it would be a good idea to fine publicly traded corporations a percentage of their market cap + 10%, going up to maximum of 100% market cap + 10%.

    If Meta is worth $817B USD, then we should treat them like it.

    • Kissaki@feddit.deEnglish
      0·
      11 months ago

      GDPR:

      These types of infringements could result in a fine of up to €20 million, or 4% of the firm’s worldwide annual revenue from the preceding financial year, whichever amount is higher.

      4% can be a lot in absolute numbers for these massive corporations. But it’s such a low percentage that it could indeed be included in operational cost and then be ignored.

      • Poggervania@kbin.social
        01·
        11 months ago

        Oh man that sounds juicy 🤤

        Only change I’d argue for is to go off market cap instead of annual worldwide revenue though because you can say some insanely small amount on paper like 4%, but then that same 4% turns from ~$5B USD with annual revenue to ~$33B USD with market cap. But because we’d also want to actually deter businesses from breaking it and considering it a cost of business, I would think something like a fine of 110% of market cap value would be a huge deterrence.