Meta has been temporarily banned from running behavioral advertising on Facebook and Instagram in Norway -- unless it obtains users' consent to the processing.
100k/day (36.5 million anually) is ~0.03% of Meta’s 2022 profits (121 billion). That’s not a fine, it’s barely even a tax. If you make 50k/year profit and the government gave you a similar fine, they’d be taking $15 from you. That sounds more like bribe money for Norwegian politicians than a good faith attempt to protect their citizens.
I admittedly didn’t look too hard for that 121bil figure, your source seems much better than the “Google it and grab the first number I see” approach I used. I see 91.36B gross profit for 2022 in your source. That makes the 36,500,000 fine ~0.04% of their profits instead or the 0.03% I got at first, equivalent to a $20 fine on 50k profit. I think the rest of what I said is still valid with the new numbers. Thanks for keeping me honest!
100k/day (36.5 million anually) is ~0.03% of Meta’s 2022 profits (121 billion). That’s not a fine, it’s barely even a tax. If you make 50k/year profit and the government gave you a similar fine, they’d be taking $15 from you. That sounds more like bribe money for Norwegian politicians than a good faith attempt to protect their citizens.
I have a hard time believe they profited 121 billion dollars, when their 2022 gross revenue was 116 billion
I’m sure it’s still a ridiculous amount of profit but that number seemed way to big at first glance so I had to check
I admittedly didn’t look too hard for that 121bil figure, your source seems much better than the “Google it and grab the first number I see” approach I used. I see 91.36B gross profit for 2022 in your source. That makes the 36,500,000 fine ~0.04% of their profits instead or the 0.03% I got at first, equivalent to a $20 fine on 50k profit. I think the rest of what I said is still valid with the new numbers. Thanks for keeping me honest!