The New Mexico Department of Justice recently announced a landmark decision from the jury in the State of New Mexico v. Facebook, Inc. case. Meta's social network...
Imagine if you and your little group of friends commited even 100 violations of some people’s privacy. Just a little peeping tom group selling people’s personal information and data… You’d all be locked up for years or at least paying out the ass to near financial ruin…
But be a corpo with thousands of “friends” committing millions of violations… and suddenly, no one can be held accountable anymore. No one is actually personally, criminally, at risk. So, as long as they make enough to tank whatever paltry fines… there’s no risk, they can just keep doing it.
Imagine if you and your little group of friends commited even 100 violations of some people’s privacy. Just a little peeping tom group selling people’s personal information and data… You’d all be locked up for years or at least paying out the ass to near financial ruin…
But be a corpo with thousands of “friends” committing millions of violations… and suddenly, no one can be held accountable anymore. No one is actually personally, criminally, at risk. So, as long as they make enough to tank whatever paltry fines… there’s no risk, they can just keep doing it.
Reminds me of a quote I just read:
- Charlie Munger summarizing Charlie Frankel summarizing the 2008 financial crisis.
It makes sense when you realize that Corporations are first class citizens
Same with if you owe a couple of thousand vs a couple of billion.