The order on July 14 by the Norwegian Data Protection Authority imposes a country-wide three-month ban on personalized and behavioral ad targeting against Meta, starting August 2023. This means advertisers may see higher costs and lower relevance.
Although Norway is the first country to enact an order like this, there could be others to follow suit. These rulings and bans may set the stage for other forced changes in a world of complex and ever-changing privacy regulations.
But in theory we could actually use the money we fine Facebook.
The sovereign fund is managed such that only a limited amount of it may be used per year.
The idea is to keep growing it so that we don’t go from “rich on oil” to “living on the subway” at the flick of a switch when the oil age ends.
I’m sure we would just squander the money, but at least in theory we could use them for something good.
I understand. I just wanted to point out that Norway is not some poor country in need of that sum as Norway does very fine on its own.
Fines should never be about needing money. But they need to big enough to hurt enough for it not to be “the cost of doing business”.