The Federal Trade Commission’s $5bn fine for Facebook — assuming it is approved by the Department of Justice — is both eye-catching and sets a new record. The 2 per cent rise in Facebook shares after it was reported shows how little impact the market believes it will have on the company’s finances or business model. Facebook and its rivals should nevertheless view the case as a warning shot. Beyond the FTC, the debate has shifted from fines to increasingly severe measures to keep Big Tech in check. As regulators adapt to this reality, future settlements will only become tougher.
美國聯邦貿易委員會(FTC)對Facebook開出的50億美元罰單（假設它獲得美國司法部(DoJ)批准）既引人注目，又創下了新的紀錄。訊息發佈後，Facebook股價上漲2%，表明市場認爲它對該公司的財務狀況或商業模式的影響多麼小。儘管如此，Facebook及其競爭對手們仍應將此案視爲一記警鐘。在聯邦貿易委員會之外，爭論已經從罰款轉向採取愈加嚴厲的措施來約束大型科技公司。隨著監管機構順應這一現實，未來達成的和解條件只會更加嚴酷。