Monday, August 6, 2012

$10 Million? Why Not $100 Million?

"$10 Million? Why Not $100 Million?"

“I’m not suggesting there is anything wrong with $10 million,” said U.S. District Judge Richard Seeborg. “My question is: Why is it $10 million?” Seeborg was questioning the proposed privacy settlement relating to Facebook's "Sponsored Stories," a settlement which, if approved, is expected to cost the social network over $100 million in advertising revenues. The discrepancy between this cost estimate and the relatively modest settlement amount led Seeborg to decide to give the matter "a little bit of thought."

We have seen repeated instances of companies settling serious privacy complaints for nominal amounts. How much should a company pay to use your name, photographs, and other personal information to sell ads? How much value would you like to see Judge Seeborg place on your privacy?

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