Sad sate of affairs, Paul. However, many have been warning about this for years. The internet is fraught with these kinds of issues. Why, because the “money madness” prevails. And, only when the pocket books are impacted, will these issues be addressed. Unfortunately, by the time this happens, the impacts are extreme and very damaging. Not the least of will be the impact to people, valuations, earnings and the markets. This is what “bubbles” are made of.
This has been an ongoing discussion (for years) relative to ethics, security, privacy, fake news, ad fraud and on and on. When the original warnings went out, they were called naysayers, negative thinkers, anti-innovation etc. Unfortunately, when companies are focused on making money at all cost, fundamental integrity is often ignored.
The best (and funniest) part of it all are the apologies from the FANG gang. I’m sorry! I’m sorry for knowing all about it and not doing anything until you caught me….it won’t happen again, I promise! Really?
The good news for us all is that the free and open market always, always prevails. And, once reality sets in and the cost of these “adventures” becomes too much to hide, the punishment (regulatory and financial) is excruciating. Unfortunately, by the time it happens, the real money has already been horded away and the unsuspecting consumer ultimately ends up paying the price as markets react. We’ve seen it before (as recently as 2008) and no doubt, we’ll see it again and again.