After it emerged last year that a single researcher had harvested the data of at least 50 million Facebook users and sold it to consulting firm Cambridge Analytica, US regulators promised harsh penalties for the social media giant. Now the US Federal Trade Commission has hit Facebook with a $5 billion fine – by far the largest penalty for a tech company in its history – for violating the privacy of its users and breaching a consent agreement that required the company to get permission before sharing personal data.
This is a huge sum, which should motivate tech firms to improve their privacy practices. It reflects a changing dynamic, with the decline of traditional media and the rise of behemoths such as Facebook, and the need for regulators to respond to a transformed landscape in kind.
However, legislators and privacy advocates have argued that the fine does not go far enough. Given that Facebook's share price actually rose following the decision – with investors having feared the worst – it is hard to disagree.
When viewed against the sheer scale of Facebook – which also owns Instagram, Snapchat and WhatsApp – the fine amounts to "a tap on the wrist", in the words of US senator Richard Blumenthal. Last year alone, Facebook recorded $56bn in revenue, of which $22bn was profit. "Such a financial punishment for purposeful, blatant illegality is chump change for a company that makes tens of billions of dollars every year," Mr Blumenthal said.
At some point, Facebook’s original vision of connecting the world was overtaken by the mad dash for advertising revenue and data collection. As the company swelled, absorbing its competitors and spreading across the globe, Facebook scooped up user data and sold it to advertisers. Third parties were able to exploit its vulnerabilities to acquire data on millions of account holders. In the case of Cambridge Analytica, Facebook found out and looked the other way.
Last year, Facebook chief executive Mark Zuckerberg admitted the company had made mistakes but vowed it would "step up" and make amends for its "breach of trust". What he has demonstrated in this affair, however, is a cavalier attitude to user privacy.
A fine that can be easily absorbed by Facebook’s vast profits is unlikely to spark an overhaul within the company. That is why concerned public interest groups have called for practical remedies to rein in Facebook’s data collection practices, in addition to financial penalties. Regulators across the globe must think hard about how to protect the privacy of social media users – because Facebook’s first priority, like any major company, is self-preservation.
One powerful tool that users themselves retain is where they take their custom. Mr Zuckerberg is no doubt aware that the same network effects that made Facebook flourish could just as easily bring it down. Increasingly today, users must exercise basic digital hygiene and inform themselves about violations of their privacy.
Only when customers vote with their feet – or their clicks – will major tech giants such as Facebook finally wake up and take notice.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Florida: The critical Sunshine State
Though mostly conservative, Florida is usually always “close” in presidential elections. In most elections, the candidate that wins the Sunshine State almost always wins the election, as evidenced in 2016 when Trump took Florida, a state which has not had a democratic governor since 1991.
Joe Biden’s campaign has spent $100 million there to turn things around, understandable given the state’s crucial 29 electoral votes.
In 2016, Mr Trump’s democratic rival Hillary Clinton paid frequent visits to Florida though analysts concluded that she failed to appeal towards middle-class voters, whom Barack Obama won over in the previous election.
Uefa Champions League last 16 draw
Juventus v Tottenham Hotspur
Basel v Manchester City
Sevilla v Manchester United
Porto v Liverpool
Real Madrid v Paris Saint-Germain
Shakhtar Donetsk v Roma
Chelsea v Barcelona
Bayern Munich v Besiktas
Sweet%20Tooth
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3EJim%20Mickle%3Cbr%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EChristian%20Convery%2C%20Nonso%20Anozie%2C%20Adeel%20Akhtar%2C%20Stefania%20LaVie%20Owen%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
It's Monty Python's Crashing Rocket Circus
To the theme tune of the famous zany British comedy TV show, SpaceX has shown exactly what can go wrong when you try to land a rocket.
The two minute video posted on YouTube is a compilation of crashes and explosion as the company, created by billionaire Elon Musk, refined the technique of reusable space flight.
SpaceX is able to land its rockets on land once they have completed the first stage of their mission, and is able to resuse them multiple times - a first for space flight.
But as the video, How Not to Land an Orbital Rocket Booster, demonstrates, it was a case if you fail, try and try again.
RESULT
Uruguay 3 Russia 0
Uruguay: Suárez (10'), Cheryshev (23' og), Cavani (90')
Russia: Smolnikov (Red card: 36')
Man of the match: Diego Godin (Uruguay)
The specs
Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel
Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power: 1877bhp
Torque: 2300Nm
Price: Dh7,500,00
On sale: Now
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
WWE Super ShowDown results
Seth Rollins beat Baron Corbin to retain his WWE Universal title
Finn Balor defeated Andrade to stay WWE Intercontinental Championship
Shane McMahon defeated Roman Reigns
Lars Sullivan won by disqualification against Lucha House Party
Randy Orton beats Triple H
Braun Strowman beats Bobby Lashley
Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship
Mansoor Al Shehail won the 50-man Battle Royal
The Undertaker beat Goldberg
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
The specs
Engine: Turbocharged four-cylinder 2.7-litre
Power: 325hp
Torque: 500Nm
Transmission: 10-speed automatic
Price: From Dh189,700
On sale: now
