this post was submitted on 27 Sep 2024
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Meta fined $102 million for storing passwords in plain text (www.engadget.com)
submitted 1 month ago by neme@lemm.ee to c/technology@lemmy.world
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[–] Sundial@lemm.ee 208 points 1 month ago (2 children)

Meta's revenue is in the tens of billions. This fine isn't even a rounding error for them. This isn't something that should be taken so lightly.

[–] Coasting0942@reddthat.com 54 points 1 month ago (2 children)

Have you seen IT budgets? Some vice-president of technology is going to be pissed his numbers look bad compared to his peers during their weekly numbers measuring contest.

[–] curbstickle@lemmy.dbzer0.com 23 points 1 month ago

Its about $2.6 billion per week in revenue, even by the weekly numbers its not an impact

(based on ~$135b in revenue for 2023, according to financial disclosure reports)

[–] Fredselfish@lemmy.world 23 points 1 month ago

Yeah that was just a cost of business. Zuck probably pulled that from under his couch.