FTC Votes to Approve Facebook's Privacy Settlement

The video discusses Facebook's ongoing regulatory challenges, including a $5 billion fine, and compares these issues to the banking sector's post-financial crisis legal costs. It highlights the regulatory catch-up needed for big tech companies like Facebook, Amazon, and Google, given their extensive influence. The video also examines Facebook's board structure, emphasizing Mark Zuckerberg's control and the implications for privacy oversight.

What is the significance of the $5 billion fine for Facebook in the context of its revenue?

• It is a negligible amount.

• It is a significant but manageable cost.

• It is a minor inconvenience.

• It is a crippling financial blow.

How does the regulatory environment for big tech companies compare to the financial crisis faced by banks?

• It is less severe.

• It is unrelated.

• It is similar in terms of ongoing costs.

• It is more severe.

Why is there a belief that big tech companies need more regulatory oversight?

• They have been heavily regulated for a long time.

• They have minimal impact on people's lives.

• They are smaller than traditional industries.

• They have operated with little regulation for years.

What is a major concern regarding Facebook's board and privacy oversight?

• The board has too many members.

• Mark Zuckerberg's control limits effective oversight.

• The board is too independent.

• The board lacks technical expertise.

What percentage of voting power does Mark Zuckerberg hold at Facebook?

• 30%

• 60%

• 50%

• 40%