Facebook’s $5 billion FTC fine is an embarrassing joke

Mark Zuckerberg is laughing at you

Facebook’s stock went up after news of a record-breaking $5 billion FTC fine for various privacy violations broke today.

That, as the New York Times’ Mike Isaac points out, is the real story here: the United States government spent months coming up with a punishment for Facebook’s long list of privacy-related bad behavior, and the best it could do was so weak that Facebook’s stock price went up.

From some other perspectives, that $5 billion fine is a big deal, of course: it’s the biggest fine in FTC history, far bigger than the $22 million fine levied against Google in…

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