> They knew it was illegal but put all the incentives for companies not to follow the rules.
Offtopic but i cant help it. You get what you measure. Which is why economies that only measure profit optimize for nothing but profit. When a nationstate says "It's illegal to do X" but has mandatory accounting practices that do not measure X but only measure profit, we should not be surprised that companies like Facebook do awful things. the GAAP has all but ensured that this happens. You want companies to have values? Then measure values! (alongside profit, not inspite of) https://en.wikipedia.org/wiki/Generally_Accepted_Accounting_...
Offtopic but i cant help it. You get what you measure. Which is why economies that only measure profit optimize for nothing but profit. When a nationstate says "It's illegal to do X" but has mandatory accounting practices that do not measure X but only measure profit, we should not be surprised that companies like Facebook do awful things. the GAAP has all but ensured that this happens. You want companies to have values? Then measure values! (alongside profit, not inspite of) https://en.wikipedia.org/wiki/Generally_Accepted_Accounting_...