Start Up No.1,053: Facebook faces $3bn fine

Facebook’s decision to set aside billions of dollars comes as the company continues negotiating with the FTC on a settlement that would end its investigation. As part of those talks, federal officials have sought to force Facebook to pay a fine into the billions of dollars, sources previously told the Post. That would set a new record for the largest fine imposed by the FTC for a repeat privacy violation, after Google had to pay $22.5m a few years ago.
— Read on

Wow! But not quite approaching what VW had to pay for the diesel scandal a few years ago. The big internet platforms are in the crosshairs.