Facebook Privacy Settlement: Dollars of Disappointment
By now, you've probably heard the buzz about Meta (Facebook's parent company) shelling out $725 million in a settlement over privacy infringements. If you're thinking this sounds like justice served, hold that thought.
On the surface, the figure seems astronomical. But when you dig a little deeper, you might start to feel like we've all been shortchanged.
Firstly, consider the scale of the audience impacted. A jaw-dropping 28 million claims were filed, and of those, around 17 million have been preliminarily validated. When you divide that $725 million (minus attorneys' fees and administrative costs, of course), what you're left with doesn't exactly scream "fair compensation." In fact, lawyers for the plaintiffs revealed that the median payout is estimated to be a paltry $30. That's less than most of us spend on streaming services in a month!
What's more, the amount you're due will depend on how long you were active on Facebook between May 2007 and December 2022. The payment system is point-based, with more points translating to a marginally fatter check. Sure, it adds a layer of fairness, but when the pot is already too small, does it really matter?
The feeling of getting short-changed doesn't just end at the size of the payouts. The system to determine the checks adds an extra layer of inequality. So, while you may have been a Facebook loyalist for years, your reward might just be enough to cover a modest dinner. And if that doesn't feel like a slap in the face, what does?
To add insult to injury, even this meager sum isn't guaranteed to land in your account anytime soon. The legal machinery is still churning, with lawyers given an additional week to submit more paperwork. Then there's the ever-present potential for appeals, which could hit the pause button on payouts indefinitely.
So, if you were planning on splurging with your settlement money, you might want to reconsider. This payout is more of a drop in the bucket than a tidal wave of justice. Perhaps it's enough for a pizza night, but should a violation of our privacy be worth so little?