Another fucking slap on the wrist. "The payment will be distributed in annual instalments over a 10-year period." It’s literally a rounding error for them. I assume this is the same lawsuit as the teen addiction one, where the states had asked for $1.4T in damages - in which case this would amount to literally 1% of the request and add insult to injury.

The tech company will pay a maximum of $16.68bn (£12.26bn), according to court documents.

Meta denied wrongdoing in agreeing to settle.

Ok, buddy.

"up to" over 10 years, which means they'll pay 1.8B this year, a massive 3% of annual income, for now and find a way to get out of this before the decade is up

Cost of doing business.

To be paid out over 10 years, across almost every state. Just drops in an ocean.

Cost of doing business

Cost of doing business... if they aren't going to own up and make changes to prevent it in the future, what's the point?

Don't let them settle! Slay the beast!

Who gets the money? Is it enough to disincentives future abuses? Is the abuse still happening? Can they be trusted to not cause such abuses again?

So they are going to stop... right!?

Pump those numbers up, those are rookie numbers!

Where does this money go? To lawyers? Government? Won’t be going to the public

It is now "official" that meta harms children and yet hundreds of people keep upvoting meta content here on lemmy

Wrong link? It gives me an error

It's a start.

Like all anti-corporate settlements, it is ridiculously favorable to the abuser.

IANAL, but doesn't settlement mean they don't admit fault, they have no judgement to actually force changes, and the same case can't be brought again, aka, they get to keep harming kids, just have to cough up some tiny slice of profit and offer some lip service to doing better? Or, to rephrase, as long as the government gets a cut, they can keep abusing?

How about 45% Market Value?

Damn, they pulled the article. Sorry about that, nothing to see here (for now at least).

Edit: link updated.

That’s too expensive for my taste. Is there a cheaper subscription option to abuse children?

Gotta break a few eggs and such.

99% of kids we screwed up won't see a dime, but at least we can move on and keep screwing up another generation though. Will pass the cost of this onto the very families we are screwing up too.

European: but they still will be judged. Right?

still couch cushion money for this company. OK, maybe a couple couches.

In a normal company, needing to cough up seventeen billion dollars gets the CEO fired.