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this post was submitted on 17 Aug 2023
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Privacy
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Still meaningless with zero effect on company value.
Not really.
Norway has 5,391,369 people, and assuming ~40% use facebook, that's 2 million people that use facebook. 36.5 million dollars per year of fines mean that it's 18 dollars per user per year.
Facebook has 2 billion users worldwide, and has a revenue of 33 billion every year. If all of those 2 billion users fined facebook for 18 dollars per year, that's their whole revenue gone.
It just doesn't have that much effect right now because it's only norway doing it.
So, my comment stands. Stupid reply.
With only one country doing this, they can soak the cost, but the ARPU (average revenue per user) of Facebook, or any social media site, is actually quite low. It literally costs them money to operate in the country now.
The question becomes "How many other countries can do the same before we are forced to care?"
Fun Fact: Reddit had the lowest ARPU of any major social media.
The average revenue varies wildly with how rich the user is, though. It's much more profitable to market to Norwegians than Indians given they have vastly higher spending power.