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Meta faces 'astronomical' consequences as legal fight reaches critical moment

https://www.cnbc.com/2026/08/17/meta-attorneys-general-california-federal-trial-astronomical-consequences.html
29•root-parent•49m ago

Comments

gigatexal•34m ago
It will never actually be 1.4T in fines if they lose the Supreme Court is in their bag... but it would be a nice win on principle. Here's hoping Meta goes to zero one day; if they did the world would not suffer one iota.
phyzix5761•22m ago
A lot of people's retirement accounts have Meta in their portfolio and they employ around 80k people. Maybe something better we can hope for is a change in management. A new CEO for sure.
hyperhello•17m ago
Anyone can put a blue stripe on top of a web page full of scrolling pictures that have hierarchical chat bubbles underneath, and always could. What is destroying Facebook going to do really?
lenerdenator•12m ago
> A new CEO for sure.

And therein lies the problem.

Zuckerberg's turned the retirement funds into patsies. They have two options: exit their positions for something else, or hold water for him with regulators and the legal system while having no ability to fundamentally change the company due to the fact that he holds majority voting control.

Disinvestment creates the possibility of a stampede for the exit. If one major institutional shareholder starts to sell off, all of them might start to sell off, and there might not be any good paths out for the later sellers.

solid_fuel•5m ago
It could be. If we can elect enough progressives. There is appetite for it.

Gen Z grew up fully inside the panopticon, with every interaction measured and optimized for advertisers. I think the ones that wake up and look around are pissed.

Make no mistake, there is a possible future where enough progressives get power to reform the supreme court, and if that ever happens there will be a reckoning.

holtkam2•28m ago
At a certain point, can a judge just please rule that Meta has lost its right to do business in the United States? It repeatedly ignores rulings and has lost credibility when it claims that it will change its practices. I don't see why they 'need' to exist. Another, more responsible social media platform company would quickly spring up in its place if it were dissolved.
Bluestein•10m ago
Not before holding Zuck personally responsible economically for all the social disarray, psychological damage, addiction, mental instability, self image issues, spyware delivered over ads, addictiveness-by-design.-
arionhardison•3m ago
Considering it was all done intentionally and on behalf of Israel; No.
lenerdenator•17m ago
This is what happens when you let one person control a massively influential company.

Zuckerberg should not be allowed majority voting control. No one should. He shouldn't be on the board that is meant to hold the c-suite accountable to shareholders, either.

Right now Meta is more-or-less a sole proprietorship that has the legal status of a corporation and a bunch of potential bag holders in the retirement funds who hold the parts that Zuckerberg does not. Since they don't want to have their holdings lose value, they'll carry water for him with regulators and courts, but won't ever be in a position to make him actually change his conduct with how he runs the company.

This should be illegal.

root-parent•8m ago
It should never be illegal, to give fools the opportunity to be parted with their money.

These funds have expensively paid advisers, and should not be investing on a company with a an ISS Governance QualityScore of 10/10. For ISS 10 is the worst while 1 is the best...

https://www.iss-stoxx.com/research-advisory/governance-and-f...

buellerbueller•3m ago
Let the retirement funds get fucked, and then sue their advisers for allowing them to be invested in Meta. Then, via the seemingly only thing that actually matters: pressure from Wall Street, maybe then, we will get social media to be responsible.
etchalon•6m ago
I think they've proven they deserve whatever consequences we can muster.

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