▲ 1117 ▼ Meta fined $102 million for storing passwords in plain text (www.engadget.com) submitted 2 years ago by neme@lemm.ee to c/technology@lemmy.world 98 comments fedilink hide all child comments
[+] Squizzy@lemmy.world -71 points 2 years ago (13 children) 102 million is a major fine. permalink fedilink source parent hideshow 13 child comments replies: [–] GoodEye8@lemm.ee 69 points 2 years ago* (9 children) 102 million is a major fine for you. For meta that's less than 1% of their last quarter (which was 13 billion net income). permalink fedilink source parent hideshow 9 child comments replies: [–] pixelscript@lemm.ee 35 points 2 years ago* (7 children) If you make $50k/yr after taxes, the equivalent fine would be on the order of about $120. Where I'm from, that's a speeding ticket. permalink fedilink source parent hideshow 7 child comments replies: [–] psycho_driver@lemmy.world 3 points 2 years ago (1 child) Wow you have very forgiving traffic laws where you're from. $190 for rolling through a stop sign here. permalink fedilink source parent hideshow 1 child comment replies: [–] pixelscript@lemm.ee 3 points 2 years ago I've been told we have state senators who openly claim to only be there to keep speeding tickets low. permalink fedilink source parent [–] Squizzy@lemmy.world 2 points 2 years ago (1 child) And thats is all this is, it isnt for war profiteering it is for poor practices, sure it could be more but people really lose sight of things when it comes to fining these companies. The fines for targetting children with damaging content or promoting harmful posts should be way more than this and than they are but this isnt an action they directly profitted from it was a lazy and harmful missing of the required mark. Im not this invested in defending meta but 102 million is a lot for one country to fine one company. Ireland fined the company nearly 1% of their global net for one issue. permalink fedilink source parent hideshow 1 child comment replies: [–] sandbox@lemmy.world 6 points 2 years ago You’re so totally wrong. Storing passwords in plaintext is such a dangerous, obviously wrong mistake that it can only be considered wanton disregard for the safety and the security of your users, and it should carry the equivalent of a life-in-prison sentence for the corporation which breaks that rule. Not only should the company be completely fucking destroyed over this but the CEO should be criminally liable. The legal system does not take corporate crimes seriously at all. Perhaps it’s time to take justice into our own hands. permalink fedilink source parent [–] oo1@lemmings.world 2 points 2 years ago It's the points on the licence that really matters for speeding though in my country. When they accumulate enough points they get banned from driving for a period like a year or maybe more. I hope this applies to meta. I'm pretty sure it doesn't though. permalink fedilink source parent [–] GoodEye8@lemm.ee 2 points 2 years ago (1 child) That's not an entirely accurate representation, because after taxes you still use that money for housing and food and transportation etc. In business terms that 50k would still contain operating costs. So that $120 might still seem a lot. That 50k a year should be extra money, the money left in your pocket after taxes, housing, groceries, other necessities and debts are paid off. That would give an accurate representation of how insignificant a $120 ticket would be. permalink fedilink source parent hideshow 1 child comment replies: [–] pixelscript@lemm.ee 4 points 2 years ago That's the thing, though. I computed from the claimed figure above of 13 billion net income. The costs are already accounted for. permalink fedilink source parent [–] ColonelThirtyTwo@pawb.social 7 points 2 years ago To put it into perspective, the fine was 0.8% of that net income. permalink fedilink source parent [–] InEnduringGrowStrong@sh.itjust.works 22 points 2 years ago Not for a company with 120 Billion profits. permalink fedilink source parent [–] floquant@lemmy.dbzer0.com 21 points 2 years ago It is absolutely not, but I understand it's easy to lose sense of scale when you go into billions territory. permalink fedilink source parent [–] ChaoticEntropy@feddit.uk 11 points 2 years ago This is less than a rounding error. permalink fedilink source parent
[–] GoodEye8@lemm.ee 69 points 2 years ago* (9 children) 102 million is a major fine for you. For meta that's less than 1% of their last quarter (which was 13 billion net income). permalink fedilink source parent hideshow 9 child comments replies: [–] pixelscript@lemm.ee 35 points 2 years ago* (7 children) If you make $50k/yr after taxes, the equivalent fine would be on the order of about $120. Where I'm from, that's a speeding ticket. permalink fedilink source parent hideshow 7 child comments replies: [–] psycho_driver@lemmy.world 3 points 2 years ago (1 child) Wow you have very forgiving traffic laws where you're from. $190 for rolling through a stop sign here. permalink fedilink source parent hideshow 1 child comment replies: [–] pixelscript@lemm.ee 3 points 2 years ago I've been told we have state senators who openly claim to only be there to keep speeding tickets low. permalink fedilink source parent [–] Squizzy@lemmy.world 2 points 2 years ago (1 child) And thats is all this is, it isnt for war profiteering it is for poor practices, sure it could be more but people really lose sight of things when it comes to fining these companies. The fines for targetting children with damaging content or promoting harmful posts should be way more than this and than they are but this isnt an action they directly profitted from it was a lazy and harmful missing of the required mark. Im not this invested in defending meta but 102 million is a lot for one country to fine one company. Ireland fined the company nearly 1% of their global net for one issue. permalink fedilink source parent hideshow 1 child comment replies: [–] sandbox@lemmy.world 6 points 2 years ago You’re so totally wrong. Storing passwords in plaintext is such a dangerous, obviously wrong mistake that it can only be considered wanton disregard for the safety and the security of your users, and it should carry the equivalent of a life-in-prison sentence for the corporation which breaks that rule. Not only should the company be completely fucking destroyed over this but the CEO should be criminally liable. The legal system does not take corporate crimes seriously at all. Perhaps it’s time to take justice into our own hands. permalink fedilink source parent [–] oo1@lemmings.world 2 points 2 years ago It's the points on the licence that really matters for speeding though in my country. When they accumulate enough points they get banned from driving for a period like a year or maybe more. I hope this applies to meta. I'm pretty sure it doesn't though. permalink fedilink source parent [–] GoodEye8@lemm.ee 2 points 2 years ago (1 child) That's not an entirely accurate representation, because after taxes you still use that money for housing and food and transportation etc. In business terms that 50k would still contain operating costs. So that $120 might still seem a lot. That 50k a year should be extra money, the money left in your pocket after taxes, housing, groceries, other necessities and debts are paid off. That would give an accurate representation of how insignificant a $120 ticket would be. permalink fedilink source parent hideshow 1 child comment replies: [–] pixelscript@lemm.ee 4 points 2 years ago That's the thing, though. I computed from the claimed figure above of 13 billion net income. The costs are already accounted for. permalink fedilink source parent [–] ColonelThirtyTwo@pawb.social 7 points 2 years ago To put it into perspective, the fine was 0.8% of that net income. permalink fedilink source parent
[–] pixelscript@lemm.ee 35 points 2 years ago* (7 children) If you make $50k/yr after taxes, the equivalent fine would be on the order of about $120. Where I'm from, that's a speeding ticket. permalink fedilink source parent hideshow 7 child comments replies: [–] psycho_driver@lemmy.world 3 points 2 years ago (1 child) Wow you have very forgiving traffic laws where you're from. $190 for rolling through a stop sign here. permalink fedilink source parent hideshow 1 child comment replies: [–] pixelscript@lemm.ee 3 points 2 years ago I've been told we have state senators who openly claim to only be there to keep speeding tickets low. permalink fedilink source parent [–] Squizzy@lemmy.world 2 points 2 years ago (1 child) And thats is all this is, it isnt for war profiteering it is for poor practices, sure it could be more but people really lose sight of things when it comes to fining these companies. The fines for targetting children with damaging content or promoting harmful posts should be way more than this and than they are but this isnt an action they directly profitted from it was a lazy and harmful missing of the required mark. Im not this invested in defending meta but 102 million is a lot for one country to fine one company. Ireland fined the company nearly 1% of their global net for one issue. permalink fedilink source parent hideshow 1 child comment replies: [–] sandbox@lemmy.world 6 points 2 years ago You’re so totally wrong. Storing passwords in plaintext is such a dangerous, obviously wrong mistake that it can only be considered wanton disregard for the safety and the security of your users, and it should carry the equivalent of a life-in-prison sentence for the corporation which breaks that rule. Not only should the company be completely fucking destroyed over this but the CEO should be criminally liable. The legal system does not take corporate crimes seriously at all. Perhaps it’s time to take justice into our own hands. permalink fedilink source parent [–] oo1@lemmings.world 2 points 2 years ago It's the points on the licence that really matters for speeding though in my country. When they accumulate enough points they get banned from driving for a period like a year or maybe more. I hope this applies to meta. I'm pretty sure it doesn't though. permalink fedilink source parent [–] GoodEye8@lemm.ee 2 points 2 years ago (1 child) That's not an entirely accurate representation, because after taxes you still use that money for housing and food and transportation etc. In business terms that 50k would still contain operating costs. So that $120 might still seem a lot. That 50k a year should be extra money, the money left in your pocket after taxes, housing, groceries, other necessities and debts are paid off. That would give an accurate representation of how insignificant a $120 ticket would be. permalink fedilink source parent hideshow 1 child comment replies: [–] pixelscript@lemm.ee 4 points 2 years ago That's the thing, though. I computed from the claimed figure above of 13 billion net income. The costs are already accounted for. permalink fedilink source parent
[–] psycho_driver@lemmy.world 3 points 2 years ago (1 child) Wow you have very forgiving traffic laws where you're from. $190 for rolling through a stop sign here. permalink fedilink source parent hideshow 1 child comment replies: [–] pixelscript@lemm.ee 3 points 2 years ago I've been told we have state senators who openly claim to only be there to keep speeding tickets low. permalink fedilink source parent
[–] pixelscript@lemm.ee 3 points 2 years ago I've been told we have state senators who openly claim to only be there to keep speeding tickets low. permalink fedilink source parent
[–] Squizzy@lemmy.world 2 points 2 years ago (1 child) And thats is all this is, it isnt for war profiteering it is for poor practices, sure it could be more but people really lose sight of things when it comes to fining these companies. The fines for targetting children with damaging content or promoting harmful posts should be way more than this and than they are but this isnt an action they directly profitted from it was a lazy and harmful missing of the required mark. Im not this invested in defending meta but 102 million is a lot for one country to fine one company. Ireland fined the company nearly 1% of their global net for one issue. permalink fedilink source parent hideshow 1 child comment replies: [–] sandbox@lemmy.world 6 points 2 years ago You’re so totally wrong. Storing passwords in plaintext is such a dangerous, obviously wrong mistake that it can only be considered wanton disregard for the safety and the security of your users, and it should carry the equivalent of a life-in-prison sentence for the corporation which breaks that rule. Not only should the company be completely fucking destroyed over this but the CEO should be criminally liable. The legal system does not take corporate crimes seriously at all. Perhaps it’s time to take justice into our own hands. permalink fedilink source parent
[–] sandbox@lemmy.world 6 points 2 years ago You’re so totally wrong. Storing passwords in plaintext is such a dangerous, obviously wrong mistake that it can only be considered wanton disregard for the safety and the security of your users, and it should carry the equivalent of a life-in-prison sentence for the corporation which breaks that rule. Not only should the company be completely fucking destroyed over this but the CEO should be criminally liable. The legal system does not take corporate crimes seriously at all. Perhaps it’s time to take justice into our own hands. permalink fedilink source parent
[–] oo1@lemmings.world 2 points 2 years ago It's the points on the licence that really matters for speeding though in my country. When they accumulate enough points they get banned from driving for a period like a year or maybe more. I hope this applies to meta. I'm pretty sure it doesn't though. permalink fedilink source parent
[–] GoodEye8@lemm.ee 2 points 2 years ago (1 child) That's not an entirely accurate representation, because after taxes you still use that money for housing and food and transportation etc. In business terms that 50k would still contain operating costs. So that $120 might still seem a lot. That 50k a year should be extra money, the money left in your pocket after taxes, housing, groceries, other necessities and debts are paid off. That would give an accurate representation of how insignificant a $120 ticket would be. permalink fedilink source parent hideshow 1 child comment replies: [–] pixelscript@lemm.ee 4 points 2 years ago That's the thing, though. I computed from the claimed figure above of 13 billion net income. The costs are already accounted for. permalink fedilink source parent
[–] pixelscript@lemm.ee 4 points 2 years ago That's the thing, though. I computed from the claimed figure above of 13 billion net income. The costs are already accounted for. permalink fedilink source parent
[–] ColonelThirtyTwo@pawb.social 7 points 2 years ago To put it into perspective, the fine was 0.8% of that net income. permalink fedilink source parent
[–] InEnduringGrowStrong@sh.itjust.works 22 points 2 years ago Not for a company with 120 Billion profits. permalink fedilink source parent
[–] floquant@lemmy.dbzer0.com 21 points 2 years ago It is absolutely not, but I understand it's easy to lose sense of scale when you go into billions territory. permalink fedilink source parent
[–] ChaoticEntropy@feddit.uk 11 points 2 years ago This is less than a rounding error. permalink fedilink source parent