Business & Economy · 1 views
A flawed system and one man’s hubris cost Meta shareholders $17 billion
Meta has agreed to pay up to $17.1 billion to settle claims by 47 states and thousands of families making the case that Facebook and Instagram were engineered to addict children.
Summary
Meta has agreed to pay up to $17.1 billion to settle claims by 47 states and thousands of families making the case that Facebook and Instagram were engineered to addict children. While the settlement appears to be a large sum, particularly for shareholders that will ultimately foot the bill, the number to understand in this story is 10.
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