Meta reaches $17B settlement over social media harms to children (reuters.com)
_ink_ 5 hours ago
oneneptune 5 hours ago
mscbuck 3 hours ago
bsimpson 3 hours ago
I know a lot of my peers went to college for free with the Millennium Scholarship.
But so many young people vape now that it's becoming cool to smoke analog cigarettes. I barely knew anyone who smoked 10-20y ago. Many people that age now do.
SoftTalker 3 hours ago
RicardoLuis0 2 hours ago
rwyinuse 29 minutes ago
I don't really get the point when there are many ways of getting nicotine without the smoke.
SoftTalker 19 minutes ago
loeg 25 minutes ago
temporallobe 25 minutes ago
Melatonic 22 minutes ago
I saw way more smoking 10-20 years ago. All have quit now.
I see a good amount vape but rarely see cigarettes these days
aprilthird2021 5 hours ago
It's not reasonable to expect them to put up rules their competition don't have to abide by, and if the government has 0 rules regarding social media, what should they do?
They're not solely responsible for phone addiction but none of their competitors get sued the same...
iso1631 5 hours ago
Sindisil 4 hours ago
Who can expect smol bean Meta to not act like rapacious vultures when all the other social media corporations get to?
freejazz 2 hours ago
alfalfasprout 5 hours ago
aprilthird2021 5 hours ago
Noaidi 5 hours ago
I wonder which way Facebook's algorithms will tilt in this years mid-term elections....
zbentley 4 hours ago
MC995 4 hours ago
nevertoolate 3 hours ago
nerder92 5 hours ago
They literally don’t care.
lokar 4 hours ago
voakbasda 4 hours ago
reaperducer 2 hours ago
This was a settlement. The court did not get a chance to issue a ruling or do any of the things you're pretending to be angry about.
verdverm 17 minutes ago
NalNezumi 4 hours ago
So meta won.
The only thing I'm asking for is better control over my social media. Let me remove infinite scroll on Instagram and don't show me things I have explicitly followed on Facebook. And do this setting by default and a cigarette like warning pop-up when you try to enable the algorithms.
(I know you can do this with custom apps and I'm doing that but you have no clue how many non tech people beg me to share how and then cop out when they learn you have to download custom apk. Just add these functionalities as an default )
JKCalhoun 4 hours ago
Unless we make sure in print to specify "Meta, the company found to have harmed children, …".
phyzix5761 4 hours ago
pirates 4 hours ago
NalNezumi 4 hours ago
Some people have friends, and some people also have friends that are very distant (geographically, life style, stage of life, etc).
Social media can allow you to keep in touch with these people in a very convenient way. For me, being able to see life updates of friends with 8h+ timezone differences is very nice perk, because planning a call or having energy to chat with someone that far away is tricky and many people understandably then drop it if that's the only way. (same applies if I want to talk to my digital nomad friend or, new-dad-overwhelmed friend). It's much easier to facilitate meeting up when I'm traveling too.
But even for people that want to use it for that purpose only, FB/Instagram will shove down infinite scroll and stories/reels/updates of people/entities you can care less about.
And yes for some it is hard to have "the willpower" as you want to frame it. (although we know it's not so much willpower, from addiction studies around nicotine and how loss of socialization around smoking usually is a detriment to quitting smoking for example)
And yes just removing / blocking those features help. There are also unofficial side-loadable app out there. So for me it works.
And for your life maybe there's no loss in socializing by just walking away. Good for you. But maybe the examples can shed some light in how social NETWORK (social media before algorithm and attention economy) is useful for many in different predicament than you, while the social media aspects, many would rather opt out.
And unfortunately only a select few of my friends (nerds/techies) are outside it (signal, discord, good old email) but almost everyone at least have an account. Many of the people I know move often enough that phone numbers aren't even a reliable way to keep in touch
tintor an hour ago
No addiction, no infinite scroll, no exhaustion, no casino-like mechanics, no endorphins, no political rage, no AI companions, no random posts, no influencers.
doctorpangloss 3 hours ago
does Meta have internal research that uses the word addiction that would come up in discovery? probably.
so there's more than one side of this. a little bit of a chance in the health & science department, a little bit of a chance in the legal department, that the plaintiffs would prevail.
that said, are people willing to ban alcohol and tobacco fully? and most "recreational" drugs? the cultural side is the least informative, because you can't litigate culture, it's arbitrary, hypocrisy is the rule, not the exception.
intended 3 hours ago
in more detail: Largely no.
Theres many ways to explain this, but this is the shortest: You have an average person, with a phone.
This person, with their average life experience, average brain development and biology, is facing off against research programs, data analysis, engineering teams, product designers, financiers, operations teams, who all want to give them the best digital experience they possible can have.
The algorithms are A/B tested to as close as possible, the content is generated from a dog-eat-dog creator economy that finds the most distracting methods to grab your attention.
A good part of this is because our society has never had to deal with information technology of this scope and scale. Quantity is its own quality. As a result people never had support and the firms had carte blanche.
It took us decades to go from the Libertarian ideal of "More speech is free speech" to knowing that content moderation is required to have functional online communities.
Do individuals have free will and choice? Yes.
Are people going to respond to incentives? yes.
Are people going to be able to compete fairly against a far more resourced claimaint for their attention and money? No.
autoexec an hour ago
They do not want to give you the best digital experience you can have, they want to give you the most addictive and exploitative digital experience they can legally get away with because they value the money that brings in more than they value anything else. They'll be content to see you hurt or killed if it makes them more money. They've knowingly been hurting and killing people, including children, for money. Meta, and the corporations like it, have leveraged all of their vast resources against the average person and the average person is always going to lose in that situation.
intended 29 minutes ago
As in an experience so tuned to our hind brains that we are enraptured, past our ability to be concerned or switch off.
I’m being minimal in my invective and generous in my choice of words.
There is no fair fight against a corporation for an individual.
pas 3 hours ago
but let's say friends sending links to group chats (or through direct messages) and you open it, and uh you see you got messages from other people on Instagram, or on Facebook you see that someone had a baby/wedding/whatever, and ...
also I see that people install these limiter apps on their phones, and then just override them many times a day.
and of course if every few days you spend 30 minutes giggling while looking at funny cats/dogs, sure, great. but on bad days you end up doing it for hours and escaping into it, ignoring something else, or using it after stressful meetings to "clear my head" (which becomes a coping mechanism for anxiety)
the problem is obviously (right?) that this happens to everybody. kids are probably more susceptible, but in general we withdrew into our screens and do our flight/fight/fawn/freeze responses online (videogames, outrage porn, porn porn, food porn)
https://www.slowboring.com/p/from-bowling-alone-to-scrolling...
tintor an hour ago
HN isn't optimized daily for engagement like FB and IG are. There isn't a single image, or video on website. Ads (for YC companies) sometimes show up and are rare. Color scheme-wise it is very plain (and should stay like that). HN is not hidden behind login wall. It is not tracking you. You can access HN fully anonymously, and create throwaway accounts for posting.
pas 39 minutes ago
the things you mention all exploit this loop for monetization. I agree it's great that HN is not, but that doesn't mean it won't tickle our brains.
alightsoul 2 hours ago
phyzix5761 2 hours ago
alightsoul an hour ago
alastairr an hour ago
chad_strategic 32 minutes ago
If I need to access for some business reason, I have a fake account. Otherwise I have zero desire to be on social media.
For my son, I built a web site based on my dog. The dog aka Prof Nubbs. Essentially it's a dogs against social media, if you on social media then you are not playing with your dog! Dogs against social media.
Melatonic 18 minutes ago
That being said I never use any of the features that feed you new content - strictly used it for people I knew in real life and events / local fitness groups / etc.
Facebook I deactivated way back and never looked back. Maybe it was useful in 2008
triceratops 4 hours ago
Filter-tipped instead of unfiltered cigarettes basically.
sershe 28 minutes ago
As for restricting nighttime usage and imposing daily limits, somehow my mom managed to do that (for video games) without any corporate features in the 90s, while being a single working mother. One time when I was particularly uncooperative she just went to the electrical panel and shut off the power to my room. That worked like a charm. Today, there are all kinds of parental control features instead.
However, how can you expect people to do parenting, when grown adults are apparently not even capable of basic self-regulation?
jcmoscon 5 hours ago
myko 5 hours ago
DamnInteresting 5 hours ago
[1] https://www.nytimes.com/2026/08/18/technology/silicon-valley...
yodsanklai 5 hours ago
Der_Einzige 4 hours ago
yodsanklai 4 hours ago
BoostandEthanol 4 hours ago
mrguyorama 4 hours ago
Nebula has no comments section. I find this to be a big indicator that it is built to enable creators to deliver good videos to their fans, rather than serving some other master.
bvinc 4 hours ago
rpozarickij 4 hours ago
I use the YouTube app very rarely, but out of curiosity I went to iOS YouTube app settings, and I wasn't expecting this, but apparently in Time Management you can set Short Feed limit to 0 and this hid shorts completely from my YouTube app home feed and I can't scroll to the next Short when I open one.
pure-orange 4 hours ago
scabby 4 hours ago
wrxd 3 hours ago
pbkompasz 3 hours ago
BeetleB 3 hours ago
[1] I'm not fundamentally against ads, but the Youtube ad situation has gotten ridiculous. They're far worse than cable TV ads.
lacoolj 44 minutes ago
shepardrtc 4 hours ago
No amount of money can fix that or punish them.
I think that sharing things can be wonderful, but monetizing that or adding Like counts to gamify it is very damaging to people. This idea that everyone should know better and take a ideological stand against some dumb app is ridiculous. Life can be hard at times, and these apps manipulated that.
jjulius 4 hours ago
No, Meta just amplified it to the nth degree. Humanity has always put an outsized emphases on such affirmation, whether it's reputation, status, belonging, approval, prestige, attractiveness, respectability, yadda yadda yadda. Consumer culture and mass media were already firmly entrenched and doing a damn good job of turning those into visible measures of personal worth in the form of wealth, possessions, beauty standards, popularity, professional success, celebrity... I could go on and on.
Meta just put a big ol' bright spotlight on the worst aspects that we were already amplifying, and perhaps sped-run that amplification.
runarberg 4 hours ago
Villains have agency, and deserve to get the blame for their malicious actions.
jjulius 4 hours ago
This is a disingenuous read of my comment.
>Villains have agency, and deserve to get the blame for their malevolent actions.
On this we absolutely agree, especially in regards to Meta. Nothing in life is that black and white, and there's nuance - to ignore our culture's outsized desire for things like that as a part of what pre-disposes us to being addicted to Meta/et al's bullshit is a fallacy.
krunck 4 hours ago
This episode will come to an end, only to be replaced by a more subtle - surely AI driven - form of amplification/attenuation.
Social media is manipulation. Period.
cimi_ 4 hours ago
No, pick one. If it's the former, it's essentially the same as saying they warped society.
I agree that these traits are human and were there before social media, but amplifying, gamifying and exploiting addiction is reprehensible.
jjulius 4 hours ago
I never said that it wasn't reprehensible.
matherial 4 hours ago
Social media strips all that away to the point where affirmation costs no effort to give but also means nothing. Here's a test I like to recommend: don't post anything on HN, X, or Facebook for a month. See how many people notice or reach out and ask if you're OK. The most likely answer is zero. Hundreds or thousands of "friends", zero meaningful return.
This also makes us feel that we constantly need to work for these affirmations. If you don't post, no one likes you. This is not a Facebook problem, but Facebook built its business around it, so they deserve to be singled out.
jjulius 4 hours ago
For the Average Joe, absolutely! Completely agreed.
>Social media strips all that away to the point where affirmation costs no effort to give but also means nothing. Here's a test I like to recommend: don't post anything on HN, X, or Facebook for a month. See how many people notice or reach out and ask if you're OK. The most likely answer is zero. Hundreds or thousands of "friends", zero meaningful return.
This is what it had been like for celebrities, people of fame, of massive wealth, of great success/achievements, and so forth for a very long time. Cultures put those on a pedestal and encouraged people to want to reach for those same things, to want to be more than the Average Joe. We wanted it, and Meta gave everyone the ability to have it.
shepardrtc 3 hours ago
Slight modification: We wanted to feel good about things, and Meta, knowing exactly what they were doing, took advantage of that to enrich themselves while gaslighting everyone that their manipulation and exploitation was totally ok and normal.
Its easy for people without a conscience like Zuckerberg to do that and laugh about it.
matherial 3 hours ago
On social media, we usually don't care about the other person at all. Likes and comments are 100% transactional. I have thousands of "followers" on X. If I die tomorrow, they won't even notice. The space on their timeline will be filled by other content to retweet or like.
butlike 3 hours ago
pertymcpert 4 hours ago
No. "Just" is understating the effect.
intended 3 hours ago
> No, Meta just amplified it to the nth degree. Humanity has always put
Those statements are the same. Our species was not designed to deal with the pressures of a A/B tested content fairy, designed by the most well paid minds our most advanced societies have trained, running on infrastructure that is more expensive than the GDP of many nations.
There are bounds within which a system functions optimally. When pushed far beyond those bounds, indefinitely, it is absolutely accurate to say the system becomes warped.
leirtjalwirj 2 hours ago
doctorpangloss 3 hours ago
we have had a lot of chances to study this stuff, and the results - like the teen sleep study and the teen wellness studies, both conducted by the same people and NOT capable of determining causation, but nonetheless the best publicized in the media - are real, but they are small.
so the stuff you are saying might be true, but the effect might be so small as to be meaningless. there are bigger threats to society than social media.
thinkingtoilet 3 hours ago
SpicyLemonZest 3 hours ago
thinkingtoilet 43 minutes ago
doctorpangloss 3 hours ago
chasd00 24 minutes ago
kids today..
"of all the animals, the boy is the most unmanageable" - Plato
KptMarchewa 2 hours ago
cyanydeez 3 hours ago
matchbok3 2 hours ago
Hm, odd. I didn't know parents didn't have authority or agency. Good to know.
leirtjalwirj 2 hours ago
tsss 44 minutes ago
dismalaf 3 hours ago
As someone who graduated high school just before Facebook became a thing: it's always been like this. For better or worse, Facebook and Instagram just meant you could now seek affirmation from a larger community than your local community.
While there's definitely some harm with social media (comparing yourself to a perfectly curated profile) there's also plenty of benefits (it's democratized advertising, news, made it easier for small businesses to reach customers, etc...).
jimbokun 2 hours ago
Maybe at some point they realized how addictive and corrosive to society the app had become. But I don’t believe they set out with that as an end goal.
slibhb an hour ago
The best and largest observational studies don't show a strong correlation. Studies with an intervention are mixed/the effect isn't large. Extreme and compulsive social media use is bad, but it's almost maybe always a symptom rather than a cause.
I saw the trailer for the new Facebook movie last weekend. It's comical really; first people blamed Facebook for the 2016 election and now for their kids being depressed. It's classic scapegoating.
What makes this worse is the irony: in the name of protecting children, we're going to further reduce their freedom. And if there is single largest cause of children being depressed, I'd bet on "lack of freedom" over "social media use".
expedition32 an hour ago
contagiousflow an hour ago
tsss an hour ago
CJefferson 32 minutes ago
seki285 26 minutes ago
josephwegner 2 hours ago
This is pretty shady. The $17B figure is much less impressive when a huge chunk of it is hinged on competitors choosing to hurt their business.
julianpye 5 hours ago
The question is of course if these limits are enforced and if they are shared across other services.
kwanbix 5 hours ago
This should be implemented also for adults.
And non-avoidable.
dmoose 5 hours ago
okdood64 5 hours ago
voakbasda 4 hours ago
wildzzz 4 hours ago
kwanbix an hour ago
tintor 37 minutes ago
richwater 5 hours ago
wildzzz 4 hours ago
Social media is one of the most insidious addictions, it doesn't cost money and your physical health is largely unimpacted. The real impact is on society and the family. My Facebook addict mother could be talking to friends, reading a book, or doing anything mentally/physically/socially productive other than scrolling for hours looking at junk content and AI slop.
A parent of young children could be interacting with their kids and building lasting connections instead of scrolling through tiktok to watch the mommy bloggers interacting with their kids. Or alternatively, setting unrealistic expectations of what a good parent does for their children and basically saying anyone not doing the same is a bad parent. My parents loved me and gave me a great childhood but my working mom wasn't up at 4am making trad wife breakfasts and lunches in the kitchen. My wife likes watching that stuff. I always point out how fancy of a kitchen the trad wife has and that she can afford to spend hours a day baking and cooking because she is wealthy, doesn't need to work a 9-5, and likely has a nanny to take care of the kids while she's filming and editing daily content. These aren't baking recipes being shared, this is content implying that to be a good mother you need to only shop at Whole Foods and bust your ass in the kitchen for hours on end.
A young adult is consuming vast amounts of unrealistic body imagery (whether it's "fitness" influencers or porn) and harming themselves to achieve the same. Sure, a fat and ugly person doesn't attract the same views as fit and pretty person but it turns a dark corner when the algorithm starts pushing ED content.
Grandpa is addicted to false or misleading political feeds to the point where he's near militant in his support for someone that's more interested in leveraging identity politics for power and money than actually helping improving the life of someone like grandpa. I'm still convinced that the vast amount of radical/alarmist traditional and social media my grandfather was fed manifested into depression and contributed to his suicide.
I don't think there needs to be strong limits on the content itself. Maybe some restriction on outright lies if it's not presented as entertainment or fiction. But what needs to happen is some sort of rollback on how good these feed algorithms are. It's not really healthy and no one except the social media companies are truly benefiting at the end of the day.
zbentley 3 hours ago
slopinthebag 5 hours ago
zbentley 4 hours ago
slopinthebag 4 hours ago
zbentley 4 hours ago
> You think the state should restrict what adults do on their phones?
The state already does that.
slopinthebag 4 hours ago
zbentley 4 hours ago
That's not pedantry. That's the difference between "darn gub'mint won't let me land my private jet on the freeway" and "darn gub'mint lowered the speed limit on the freeway".
If you want to argue that the state shouldn't control phone use related to social media, you need to engage with the ways they already control phone use, and whether/how well those work (and have a complex conversation about the costs/benefits of adding an additional control); it's dishonest to frame it as a qualitative shift from not restricting what adults do on their phones to doing that.
slopinthebag 22 minutes ago
Imagine making this same argument but for something like slavery: "Well, the government already controls what we can do with our bodies, so the concept of forcing some people to a life of hard labor will require you to engage with the ways they already control peoples bodies, how well they work, and we should have a complex conversation about the cost/benefits of this additional control. It's dishonest to frame it as a qualitative shift, it's more akin to the government lowering the speed limit."
We can also just say no. End of discussion. You nor anyone else gets to tell me what otherwise-non-illegal media I can consume.
freejazz 2 hours ago
Try being as generous as you demand of others
slopinthebag 20 minutes ago
fuzzfactor 3 hours ago
Initially read this as "can't install apps which facilitate privacy."
And that was before I got to your next sentence . . .
nrmitchi 3 hours ago
Der_Einzige 4 hours ago
_ink_ 5 hours ago
pelagicAustral 5 hours ago
sajithdilshan 5 hours ago
Rebelgecko 4 hours ago
broost3r 2 hours ago
tintor 39 minutes ago
loeg 26 minutes ago
https://about.fb.com/news/2026/08/agreement-with-state-attor...
bearjaws 4 hours ago
Companies keep getting away with this "cost of doing business" fines, the justice department keeps failing at its duties.
The fines either need to wipe out these companies to the point the share holders hold the leadership accountable or nothing will change.
jimmyjazz14 4 hours ago
bearjaws 3 hours ago
Just like how Meta, it's staff and leadership all knew they were making decisions that harmed people, and did nothing to stop it while profiting immensely.
jplusequalt 2 hours ago
There are multiple studies showing that social media use leads to worse mental health in users.
datakan 4 hours ago
pcarolan 25 minutes ago
kwanbix 5 hours ago
toofy 3 hours ago
it all became clear as day.
apparently in the 70s used car salesmen would manipulate the odometers in cars they were selling to make the cars appear to have really low mileage. they would also do other random stuff like put saw dust in the transmission to hide any kind of knocking noises.
the media started doing investigations into this which led to laws making those kind of things illegal.
they had tons of interviews with various owners of the car lot chains who were eventually found guilty of things like rolling back odometers. and every single one of them sounded sleazy and confident. every single one of these guys who were caught red handed blamed the buyers saying things like:
“it’s not my fault they bought a shit car.”
we allowed a bunch of greasy slimey used car salesmen to take over. slimey used car salesmen in quarter-zips who sound confident.
ApolloFortyNine 4 hours ago
Even if we assume children don't find a way around this, they will simply switch to a different social media app after their two hours are up, or switch to an app that doesn't have the two hour limit at all.
This is clearly a rule that would have to be mandated by the government, or perhaps parental controls on their devices (not sure why parenting was ruled out here apparently). Same with whatever opinions people have on an algorithm showing you content you'd enjoy, which has always been the goal of media since the concept of a magazine was created, they just didn't have the right tools available.
It also will only punish kids who actually gave their age no? That's not actually required (yet) to sign up for a social media app. I was probably 9 when I started clicking a random year for my age when signing up. Doesn't take you long to figure out you have to jump through hoops when your honest.
Really I have no idea what this case accomplished besides being a tax on a successful company.
Hugsbox 4 hours ago
Like imagine if they all flock to 4chan, or similar.
fdgfikgfv 4 hours ago
greggoB 4 hours ago
You forgot "evil" in your description of the company.
It is supposed to realign their incentives away from massively exploiting society for purely financial gain. There is ample evidence that Meta has gone out of its way to encourage the discussed issues, so clearly there was a problem with the incentive structure. Given all the lobbying they've done to prevent any passage of laws regulating their conduct, it's fallen to the courts to correct this (if, as other comments say, somewhat unsatisfactorily).
jbombadil 5 hours ago
Also, I’m surprised by the lack of enforcement to remove infinite scrolling.
paulkrush 5 hours ago
yodsanklai 5 hours ago
wildzzz 3 hours ago
juujian 26 minutes ago
Why "a maximum". Do can we expect that in practice it will be much less?
fivetenpen 5 hours ago
jimmyjazz14 5 hours ago
left-struck 4 hours ago
Anyway, you can support free speech while hating this algorithm crap at the same time.
jimmyjazz14 4 hours ago
I do personally believe banning the algorithms begins to fall into the realm of free speech regulation. I can hate the algorithm crap without thinking the government should regulate the internet.
intended 3 hours ago
In the starkest of terms: Americans have to somehow reconcile faith in the power of an invidual's freedom of speech and the manipulation of the collective marketplace of ideas.
tencentshill 14 minutes ago
testaccount28 5 hours ago
eviks 4 hours ago
zbentley 4 hours ago
My hot take is that the courts should find that doing anything beyond that is a first-party editorial behavior and thus not immune to liability under section 230. You can operate social media, but if your content and recommendation sort algorithms aren't explicitly controllable by and legible to (that means no "you might like"; no direct payouts for content creators to be engaging on your platform; recommendations based on dumb sorts from people you already know or dumb sorts over keyword searches only) your users, you're liable.
Der_Einzige 4 hours ago
xxs 2 hours ago
sunjain 3 hours ago
ghm2199 2 hours ago
[1](https://www.marketscreener.com/quote/stock/META-PLATFORMS-IN...)
alightsoul 2 hours ago
asf1254 5 hours ago
iamacyborg 5 hours ago
ben_w 5 hours ago
i.e., if you earn $100k/year, you'd be "worth" $620k, and 1% of that would be a fine of $6200.
cryptonym 4 hours ago
Anyway, 6K for harming children at that scale remains ridiculous.
ben_w 4 hours ago
The point is "Market cap is BS".
> Anyway, 6K for harming children at that scale remains ridiculous.
One person managing to harm children at this scale would likely get a penalty much smaller than $16 bn.
Of course even "20-life" is a penalty much smaller than $16 bn, given the average American's lifetime earnings are around the $3m level, i.e. it would take 5000 mean lifetimes to repay the actual fine in the headline.
It's nonsensical to scale down a %-of-wealth fee to one person without also considering that the offence would likely be smaller, and also as an independent consideration how difficult it would be for one person to commit the acts.
cryptonym 3 hours ago
ben_w an hour ago
dbbk 5 hours ago
micromacrofoot 5 hours ago
kingleopold 5 hours ago
ben_w 4 hours ago
The share price is essentially always fake, because the ticker price of any given symbol is in a superposition of all possible values until it gets traded. The bigger the trade you try to make, the bigger the shift you directly cause to the value while you're attempting to make the trade.
cryptonym 4 hours ago
triceratops 4 hours ago
ben_w 3 hours ago
Don't get me wrong, I'm happy for e.g. Zuckerberg personally to be ordered to hand over all his shares as any given penalty, but as stated what you describe sounds like a way to avoid paying a penalty.
triceratops 3 hours ago
Diluting existing shareholders by 10% would send a much stronger message than whatever's happening now.
ben_w 2 hours ago
The shareholders already can't remove Zuckerberg, he has 57% of voting control.
triceratops an hour ago
And by diluting all shareholders it depresses the price in the future.
ben_w an hour ago
The wealth you're talking about is almost entirely bound in owning and controlling facebook, bounces up and down a lot regardless of penalties, and it isn't a liquid asset becase he can't sell without giving up that control…
Except worse than that, because he could probably order the business to print more shares and give them to him do at any time because of his voting control. See e.g. Musk and his BS trillion dollar performance carrot at Tesla where the board is suspiciously arranged in his benefit, or Musk and his BS voting control structure with SpaceX. IIRC Meta's dividends are pathetic and Musk's nonexistent, so you're proposing an even smaller slap on the wrist than the penalty you deride.
triceratops an hour ago
And that doesn't matter. If Meta is forced to issue 10% more shares to the plaintiff the value of all shareholders' shares fall 10%. And if the plaintiff dumps all the shares on a single day, they fall even harder.
Zuckerberg's 57% control of a $1.6t company means a lot more than my 50% control of Triceratops Inc. Not because 57% > 50% but because $1.6t > undefined.
> he could probably order the business to print more shares and give them to him do at any time because of his voting control
Unlikely. Meta is still headquartered in Delaware and such an action would be subject to shareholder lawsuits. And again the stock price falls, so does Zuckerberg's net worth and also the RSU grants of all his employees. To retain them Meta has to spend more money - cash or further share dilution.
You either don't understand finance or are being deliberately obtuse.
Wololooo 4 hours ago
aplummer 4 hours ago
In a top 10 harmful corporation list meta wouldn’t make my cut.
yodsanklai 4 hours ago
garbawarb 2 hours ago
lenerdenator 14 minutes ago
$17 billion is nothing. Should have been more like $500 billion.
datakan 5 hours ago
electriclove 5 hours ago
eviks 4 hours ago
TheBigSalad 4 hours ago
connor11528 4 hours ago
paxys 5 hours ago