Facebook is a popular social media platform for a number of reasons. It allows people to stay in contact with friends and family members. It allows businesses to promote themselves with various ads. It also provides a place for people to connect using groups focused on various topics.
While there have been some privacy issues, the socialist Dems are ready to take more crushing action against the platform.
If the delusional Dems were to win in 2020, it could be the end of Facebook as we know it.
The FTC Fine
It’s important to note that the Federal Trade Commission recently delivered a $5 billion privacy settlement fee to Facebook. According to Joe Simons, chairman of the FTC, they were deceptive and betrayed the trust of Facebook users.
This is a historically large fine, proving the seriousness of what Facebook was found guilty of. However, many Democrats feel that it isn’t enough. They feel that $5 billion was a “meager” amount and would not serve to deter the social media giant from abusing user trust again.
According to Democratic FTC Commissioner, Rohit Chopra, the violations from Facebook were enough to harm society and democracy. Another commission Democrat, Rebecca slaughter, explains that the American public is left vulnerable.
The Dems Solution: Confusion
In typical fashion, the Democrats don’t agree on anything. They don’t have a single solution for how to fix Facebook. However, some of them would like to take Facebook to court and some would like to hold CEO Mark Zuckerberg personally liable for the violations.
If the Democrats regain power in Washington DC, it’s likely that there will be more intrusive investigations and that the entire online industry could face significant punishments. This could cause a significant ripple effect throughout Silicon Valley, closing a number of top companies.
Chopra suggests banning behavior-based advertising, which is one of the primary ways Facebook generates substantial revenue. However, banning such advertising doesn’t just hurt Facebook. It hurts any business conducting themselves online because of using the social media platform. Without being able to use behavior-based advertising, they will find it difficult to reach their target audience.
The FTC has already opened a separate antitrust investigation into Facebook. This probe is separate from the $5 billion privacy settlement, which could mean additional fines or dangers to Facebook.
Facebook is Willing to Work Through the Problems
It’s clear that the Democrats are out for blood. The FTC imposed fines on Facebook that were approximately 220 times larger than what they have imposed on similar cases. Further, Facebook has already agreed to work with the FTC and the government as a whole. This includes installing an internal privacy oversight board as well as restricting a variety of data-use practices.
Zuckerberg will also face personal civil and criminal penalties if he certifies that Facebook is compliant when that is false. This means that he’s willing to put himself in the hot seat in order to prove that he is as compliant as he claims his company is.
While several GOP colleagues have felt that the deal is well-balanced, Democrats Slaughter and Chopra have rejected the deal. This is because of what some of the 2020 presidential candidates are seeking to do – break up industry leaders such as Facebook and Amazon. Elizabeth Warren is one of the top running mates to suggest such a thing. She is eagerly urging antitrust regulators to break up large industries. However, Facebook has already explained that they aren’t a monopoly. Breaking a company up simply for being large is not what’s best for Silicon Valley or e-commerce as a whole.
Facebook First, Who is Next?
If the Dems Get Their Way, Facebook will be one of the first to be dissected. Some Democrats have identified Facebook as being able to get away with “egregious corporate bad behavior.” It’s not just about the privacy laws. Chopra feels that the FTC cannot claim a victory if a company is able to violate a law, pay a large penalty, and continue turning a profit. With comments like this, it sounds like they are more offended by the profit than the actual law.
If the Dems get into power, they are going to look to break up a number of large companies, causing complete chaos online. It’s impossible to break Facebook up – it would simply be dissolved entirely. After Facebook goes, Amazon, Google, Apple, and any number of other tech giants could be next on the hit list. At that point, where does it leave the world in terms of technology?