Facebook’s Zuckerberg takes FTC’s meaningless $5 billion fine in stride at ‘Summer Camp for Billionaires’

Eileen AJ Connelly for The New York Post:

Mark Zuckerberg didn’t let a little thing like a $5 billion fine spoil his weekend.

The Facebook founder hobnobbed with fellow billionaires at the annual Allen & Company Sun Valley Conference in Idaho on Friday — also known as “Summer Camp for Billionaires,” as the Federal Trade Commission was slapping his company with the mega-penalty.

Zuckerberg, 35, who is worth a reported $62 billion, was able to console himself surrounded by fat cats like former Mayor Michael Bloomberg, Apple CEO Tim Cook, and Nike founder Phil Knight at the invite-only confab that draws top tech and media executives.

MacDailyNews Take: Not even a slap on the wrist. A $0 fine would have been as meaningful.


  1. As reported by Business Insider, the conversation according to SAI sources, went as follows.

    Zuck: Yeah so if you ever need info about anyone at Harvard

    Zuck: Just ask.

    Zuck: I have over 4,000 emails, pictures, addresses, SNS

    [Redacted Friend’s Name]: What? How’d you manage that one?

    Zuck: People just submitted it.

    Zuck: I don’t know why.

    Zuck: They “trust me”

    Zuck: Dumb fucks.

  2. As a personal friend of Mark’s, and a shareholder, I think it’s outrageous. I told this to Trump myself in one of our regular phone calls, but as usual, he does what he wants. Bill Gates laughed. I told Steve J at his grave site, but there was no response from him, sadly.

  3. I think that Facebook and Google see “Ads” as a stepping stone. They basically are “extracting” money from these Fortune 500 companies for Ads that no one watches, or if you see the Ad, you yell “F*#^” because it interrupted your video . . . I think Zuckerberg views the Libra currency as a way to implement micropayments . . . When you look at how much money Facebook can earn through their own currency and micropayments – a $5 billion fine is insignificant, and yesterday’s news.

  4. These sorts of fines are no different than billion $ damages that companies like Samsung are told to pay for deeply aping others’ designs. They go full force into the market with something that they know will ultimately be found to be shady at best and build up tens of billions in profits, only to shrug off the “fine” for their actions. But, that all said, the vast majority of FB users are dumb*%ks for giving up so much of their privacy with little or no thought to the ramifications. As in all aspects of life, we kind of reap what we sow.

  5. How about instead of 5 billion, 60 days of blocking facebook worldwide, and 90 days for twitter. Wait, Trump would have a heart attack if twitter went down. AOC too…

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