A $15 billion class action lawsuit would be a big hit to them. Add to that what Europe and other places around the world want to do, and they can be destroyed.
The 15B will put a small dent in it. But what will really hurt them is once they win the lawsuit people will look into and
See the terrible things Facebook has been doing stock price will drop
The fundamental problem is that online advertisement (or digital products) work with different economics. Once you produce a product, you can copy it infinite times with minimal marginal costs.
Facebook then auctions the something (where the product is you) to the highest bidder in a blind dutch auction. Google does the same thing. They then revenue share with content creators to hook people (ways to buy acquire scarce attention) on platforms like youtube or instagram, while optimizing the advertising levels so people click.
I don't think $15 billion will hurt them much. Facebook IS the internet in many countries.
It's a public company. You can look it up.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1326801/000132680121000014/fb-20201231.htm#i5d2898d61ccf450cbccb20a5c73005f3_43
$62 billion liquid, $159 billion total assets.
A $15 billion class action lawsuit would be a big hit to them. Add to that what Europe and other places around the world want to do, and they can be destroyed.
The 15B will put a small dent in it. But what will really hurt them is once they win the lawsuit people will look into and See the terrible things Facebook has been doing stock price will drop
The fundamental problem is that online advertisement (or digital products) work with different economics. Once you produce a product, you can copy it infinite times with minimal marginal costs.
Facebook then auctions the something (where the product is you) to the highest bidder in a blind dutch auction. Google does the same thing. They then revenue share with content creators to hook people (ways to buy acquire scarce attention) on platforms like youtube or instagram, while optimizing the advertising levels so people click.
I don't think $15 billion will hurt them much. Facebook IS the internet in many countries.