“Is crazy Bernie Sanders a sincere hypocrite? ” – Dan Mitchell asks.
It is not clear where the optimal privacy protections lie, but these three things are clear.
First, Facebook is highly motivated to avoid another “existential crisis” wherein scores of billion dollar fines are imposed by markets.
Second, internet users continue to happily trade personal data for “free” social media apps. In recent laboratory experiments, Facebook users were offered money to disengage. By the prices demanded by the participants, the consumer value generated by Facebook was revealed to average about $1,000 per user per year. Regulations that limit the development of such platforms may hurt consumers as well as shareholders––and the former far more than the latter.