FTC Consent Decree Fines Could Scorch Facebook: @GVAResearch on Bloomberg Radio
Updated: Apr 23, 2021
Bloomberg Markets AM with Pimm Fox and Lisa Abramowicz
GUEST: David Garrity, CEO of GVA Research, on Facebook CEO Mark Zuckerberg’s apology over Cambridge Analytica crisis, and how Facebook could be fined.
To listen to the replay, click here.
Zuckerberg’s operative principle at Facebook has been “move fast & break things”.
Clearly, given the scale Facebook has attained with 2bn users, this now carries significant social implications. Can Zuckerberg with Facebook at scale act with the necessary probity and maturity required to ensure Facebook is a responsible organization? With majority voting control given to Zuckerberg, it would appear that internal corporate governance will not be sufficient to restrain him. As such, legal action may be the necessary resort for the liberal democracies affected by Facebook’s reckless behavior.