FTC fines YouTube $170M over privacy violations


WE ARE STILL UP OVER 200 POINTS.>>>TWO ITEMS ON GOOGLE. IT SETTLED WITH THE FTC FOR $170 MILLION OVER VIOLATIONS OF CHILDREN’S PRIVACY LAWS. THEN SEPARATELY, THERE’S A NEW ANTITRUST PROBE FROM STATE ATTORNEYS GENERAL, A COUPLE DOZEN OF THEM. LET’S START WITH THAT. SUSAN: THIS IS THE LARGEST AMOUNT THE FTC HAS EVER FINED ANY COMPANY WHEN IT COMES TO VIOLATING THE CHILDREN’S ONLINE PRIVACY PROTECTION ACT, AND THIS BASICALLY REQUIRES THAT IF YOU ARE GOING TO TRACK DATA, EXTEND DATA AND GET DATA FROM CHILDREN UNDER THE AGE OF 13 ON THE INTERNET, YOU BASICALLY NEED PARENTAL APPROVAL. THIS COMPLAINT ALLEGES THAT YOUTUBE USES COOKIES WHICH TRACK WHERE YOU MOVE AND GO ON THE INTERNET, THEY TRACK CHILDREN ON THE INTERNET AND TARGETED ADS TOWARDS THEM, MAKING MILLIONS OF DOLLARS IN THE PROCESS. NOW, THIS IS THE LARGEST FINE EVER SINCE THE LAW WAS ENACTED IN 1998. LOT OF PEOPLE SAYING $170 MILLION, DROP IN THE BUCKET FOR GOOGLE. STUART: STATE ATTORNEYS GENERAL GOING AFTER THEM ON ANTITRUST GROUNDS. WHAT ANTITRUST RULES HAVE THEY BROKEN? SUSAN: WAY TOO MUCH CONTROL ESPECIALLY WHEN IT COMES TO SEARCH. 90% OF SEARCH IS CONTROLLED BY GOOGLE, NOT TO MENTION ANDROID WHICH POWERS MORE THAN 70% OF THE WORLD’S SMARTPHONES AND GOOGLE, YOUTUBE, OF COURSE, 1.8 BILLION MONTHLY USERS SO MORE THAN HALF THE NATION’S STATE ATTORNEYS SAY WE SHOULD BE LOOKING INTO WHETHER OR NOT THEY ARE TOO BIG FOR THE GOOD OF AMERICA. STUART: IT’S A VERY DISTANT THREAT. MAYBE THAT’S WHY YOU HAVE NOT GOT AN IMMEDIATE RESPONSE ON THE STOCK PRICE.

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