Reuters' Jeff Horwitz analyzes leaked memos that reveal that: 10% of Meta revenue comes from scam ads, and; Meta knows it, and; decided not to stop about it, because; the fines for facilitating life-destroying fraud are less than the revenue from helping destroy users' lives:

reuters.com/investigations/met…

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If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2025/11/08/fae…

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Bilal Barakat 🍉 reshared this.

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This entry was edited (2 weeks ago)

Cory Doctorow reshared this.

in reply to Cory Doctorow

"the company estimates that most it will ultimately pay in fines worldwide ads up to $1 billion, while it currently books $7 billion/year in revenue from fraud. The memo announcing the anti-fraud effort concludes that scam revenue dwarfs "the cost of any regulatory settlement involving scam ads." Another memo concludes that the company will not take any pro-active measures to fight fraud, and will only fight fraud in response to regulatory action."

Sounds like people across the world need to call their regulators to dramatically increase the cost of fraud/scam regulation, to eclipse the revenue Facebook is generating from knowingly running scams/fraud advertisements.

in reply to Cory Doctorow

So many scams on Instagram. I think I may have gotten scammed just 4 days ago. Let's see if my product actually arrives. There is ZERO oversight apparently. These were Swedish dish towels. Extra charges were added (30% tax?) and the web site looks extremely phony when I visited it to complain. I've been scammed before on Instagram. Will I learn? Those towels looked great though. 😆
in reply to Cory Doctorow

@lottajg Your income and promotions at Meta are partially based on how you have improved the income of the company. You don't get promoted at Meta by reducing revenue. It's not just an issue at the individual level, but at the group level. Those projects will always have the lowest priority. And things at the bottom of the list never get done.

They also know they have a huge false positive problem with reporting content as bad when it's not. But fixing it always ends up at the bottom of the list.

That's what happens when you believe you can measure the worth of someone using just numbers and algorithms.