Fri. 02/15 - FTC To Fine Facebook?

Tech Brew Ride Home

Amalgamated Internets, LLC

News, Tech News, Technology

4.7 • 1K Ratings

🗓️ 15 February 2019

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

More fallout and analysis of Amazon ghosting NYC, more signs of blockchain actually taking hold on Wall Street, Samsung’s lineup of gadgets leaks and of course, the weekend longreads suggestions. Sponsors: Tiny.website DataDogHQ.com/ridehome Links: The U.S. government and Facebook are negotiating a record, multibillion-dollar fine for the company’s privacy lapses (The Washington Post) Amazon’s Escape From New York (Bloomberg BusinessWeek) Copyright Office Refuses Registration for 'Fresh Prince' Star Alfonso Ribeiro's "Carlton Dance" (The Hollywood Reporter) HSBC forex trading costs cut sharply by blockchain - executive (Reuters) Samsung leaks entire new wearables lineup through its own app (The Verge) Weekend Longreads: The Strong Web (podcast suggestion) Why data, not privacy, is the real danger (NBCNews) Uber’s Secret Gold Mine: How Uber Eats Is Turning Into A Billion-Dollar Business To Rival Grubhub (Forbes) Zillow Wants to Flip Your House (Bloomberg BusinessWeek) The Strange Experience of Being Australia’s First Tech Billionaires (NYTimes) The Secret History of Women in Coding (NYTimes Magazine) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Tech Mem Ride Home for Friday, February 15th, 2019. I'm Brian McCullough today.
0:10.0	More fallout and analysis of Amazon Ghosting NYC. more leaks and of course the weekend long reads suggestions. Here's what you miss today in the world of
0:25.3	tech.
0:26.5	Tony Ram in the Washington Post is reporting that the FTC and Facebook are in active negotiations
0:35.1	to impose a record multi billion dollar fine on Facebook to settle the FTC's investigation
0:42.1	into that company's privacy practices.
0:44.4	Quote,
0:45.0	The fine would be the largest the agency has ever imposed on a technology company,
0:49.6	but the two sides have not yet agreed on an exact amount.
0:53.6	Facebook has expressed initial concern with the FTC's demands, one of the people said.
0:59.0	If talks break down, the FTC could take the matter to court in what would likely be a bruising legal fight."
1:04.7	End quote.
1:05.7	Yeah, about that bruising legal fight, Kara Swisher tweeted, quote,
1:10.4	Facebook should take whatever deal it gets and pay a huge fine. A court battle. quote,
1:13.0	Facebook should take whatever deal it gets and pay a huge fine.
1:14.0	A court battle would be disastrous.
1:16.0	Zuckerberg should ask his mentor Bill Gates about that, end quote.
1:20.0	Lots of people on Twitter were making comments about maybe this is just cost of doing
1:25.8	business for Facebook. Kanderock tweeted quote to put multi-billion dollar
1:30.7	fine in context Facebook had 6.88 billion in net income last
1:35.0	quarter and has around 40 billion in cash in the bank." But as Matt Drange points
1:41.4	out, a fine is only one component of any FTC settlement.
	...

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