Re: We don't need more regulation
"What we need is for actual real consequences for companies who are shown to be negligent."
Yes. It's called regulation.
For a company so removed from any situation where they don't interact directly with the people whose data they are collecting there's no chance for market forces to operate on them. In that case the only consequences that can happen are legal sanctions. You don't have legal sanctions imposed out of thin air just because it becomes obvious that someone did something bad or was negligent in some way, at least not in a free society. It requires that they have breached some specific legal restriction.
It makes no sense to call for "real consequences" and then say we don't need more regulation. If there are currently no real consequences for breaches like this it's a clear indication that more regulation is needed.
Sadly the continued existence of Facebook and the like shows that that market forces don't seem to have much influence even when there is direct interaction.
Biting the hand that feeds IT
