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Today the @FTC announced its settlement with @facebook. I voted no, as did @chopraftc. The majority explained its decision in a statement, and we both wrote dissents - all long, but worth reading (as is the order itself). Links below. First, a more concise version of my views.
I voted no b/c I do not believe either the money or the injunctive relief will ensure accountability or that @facebook changes how it treats user data. And the release of liability is not justified.
We shouldn't analyze the settlement terms against prior settlements; we should analyze them against the specific facts in this case. On that metric, the settlement falls short.
The $5B is not enough given the scope of the offenses and FB's financial position. The harm that flowed from FB's misconduct included the Cambridge Analytica efforts to manipulate voters (incl in 2014) - that's just one example. This is about the institutions of our democracy.
But money alone would never be enough - conduct terms are key. I don't think the terms in this order go far enough to change FB or ensure accountability. There are no substantive limitations on FB's data collection, use, and sharing. And there is no public transparency.
Of course, we can't just shout about what more we want in a settlement; we have to be realistic about the agency's options. Here, if @facebook wouldn't agree to more meaningful terms, we should have taken them to court.
I get that there are no guarantees in a trial. But litigation in an open court of law would provide important transparency and accountability. As a steward of public dollars and the public trust, the government should seek justice even if it is not guaranteed to achieve it.
But really, read all the statements and decide for yourself. They are all thorough and detailed. The majority statement is here: ftc.gov/public-stateme…
@chopraftc's is here: ftc.gov/public-stateme…
And mine is here: ftc.gov/public-stateme…
