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Facebook could lose $2.8 billion of its revenues under GDPR
Facebook's revenues could be reduced by 7% (about $2.8 billion) when the General Data Protection Regulation (GDPR) comes into effect in Europe in May, according to an analysis by Goldman Sachs. The penalty for breaking the law is 4% of Facebook's global revenues, suggesting that it might be cheaper for Facebook to break the law than to obey it. The new law, coupled with an impending new EU ePrivacy rule, will require online services to obtain permission from all their users for any data they take. The law is intended to prevent the widespread use of privacy-infringing data such as that involved in the Cambridge ... (full story)