Did you sign a contract with Facebook for your data being purchased for 8.6 Eurocents?

The Irish Data Protection Commission (DPC) has sent a “draft decision” to the other European Data Protection Authorities on Facebook’s legal trick to bypass the GDPR. noyb has published the relevant documents today https://lnkd.in/eQBMMg7C. In the DPC’s view Facebook can simply choose to include the agreement on data processing in a “contract”, which would make the GDPR requirements for “consent” not apply anymore. Facebook’s switched from “consent” to “contract” on 25.5.2018 at midnight – exactly when the GDPR came into effect in the EU. However, the authority suggests a penalty of € 28 to € 36 Mio as Facebook ought to have been more transparent on this bypass. This would mean a fine of 8.6 Eurocents per Facebook user in Europe, while the share price is 281,60 Euro today. Do you think your personal data is righteously being translated into the corresponding purchase price of 8.6 Eurocents when you “signed” the assumed contract on the 25th of May 2018? What else is in the contract? Should you have shares in Facebook?