There have been many different lawsuits and fines over Cambridge Analytica.
$50 million settlement with California.
$100 million to SEC for misleading investors.
$5 billion in FTC fines.
Many different international fines.
$725 million in a private class action lawsuit.
$17 billion in a multi-state child and teen safety lawsuit, part of which is earmarked for Cambridge Analytica claims.
(You are probably confusing the last two).
Importantly all of these were paid. This $25 billion one is still just a press release. Local juries issue such crazy rulings all the time (why wouldn’t they, they have nothing to lose) and it is always struck down or massively reduced by a higher court.
No because that's still subject to appeal, unlike the settlement. "a bird in hand is worth two in the bush", etc.
Like, yeah, you have a point in the abstract, but barring any actual supportive facts, it doesn't seem like a good point.
https://kieferandkiefer.com/understanding-how-jury-verdicts-...
https://www.rand.org/content/dam/rand/pubs/reports/2006/R331...
Also, a paper from RAND from 1987? Are you for real?
Genuinely curious and interested in learning!
> The jury concluded that Meta had more than 43 million violations of the state’s unfair practices act, with each transgression carrying a civil penalty as high as $5,000.
Note that this is like, 20 violations per resident of New Mexico. And also ~50% of Facebook's total revenue (more than 100% of income) at the time of the CA scandal.
I highly doubt that New Mexico will get 25. Although it would be nice since I live in New Mexico.
https://www.neowin.net/news/new-mexico-judge-slashes-metas-p...
There is plenty of precedent for Cambridge Analytica-related fines. California got $50 million. 40-ish states combined got something like $460 million. New Mexico will get paid in the same range.
Yeah maybe in movies
Look at precedent[1]. Glyphosate and J&J talc are among the biggest awards (to be fair: they were settlements), and those allege that the defendants' products actually caused cancer -- actually killed people.
The tobacco settlement for 46 states was $206 billion. Again, for causing millions of deaths. New Mexico is 0.62% of the U.S. population, so less than $2 billion would be New Mexico's share of that.
Compare that to this 25 billion for the crime of illicitly letting political advertisers access too much of the interest data that Facebook users provided to Facebook?
The only way this penalty makes any sense is if you believe that the Cambridge Analytica scandal was the most heinous crime ever perpetrated by any company in U.S. history.
No. Fines are punitive and intended for deterrence. You're thinking of reimbursements (cost recovery and damages). The latter is intended to be proportional to real world harm/costs, the former need not be.
A traffic law violation could cause no harm, but you'll still get fined for it.
Some jurisdictions even impose fines based on how deep the defendants' wallet is, calculating the amount that might serve as appropriate deterrent/punishment based on their financial situation. Fining a billionare $50,000 for literring will still not serve as a deterrent, but doing the same to a minimum wage worker would unfairly financially ruin them.