Comment by ceejayoz
7 days ago
The EU doesn’t play around in this realm.
1.2 billion fine for an earlier incident: https://www.edpb.europa.eu/news/news/2023/12-billion-euro-fi...
7 days ago
The EU doesn’t play around in this realm.
1.2 billion fine for an earlier incident: https://www.edpb.europa.eu/news/news/2023/12-billion-euro-fi...
1.2B is less than 1% of Meta's revenue in FY2024. Maximum fines for infractions like these should exist on a sliding scale, as some percentage of prior revenue.
The point was it’s two orders of magnitude more than the original comment stated. Also 1% of yearly revenue is not insignificant.
How is it not? Will anyone actually feel this fine?
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Probably best indexed to profit rather than revenue. 10% of revenue would be a one quarter’s profit for meta, but more than a year’s profit for Amazon and about 9 years of profit for Otto. Higher margins / profits should mean higher fines.
The laws specify revenue, to avoid transfer pricing removing all fineable profits. Live by the sword, die by the sword I guess.
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Profit doesn't include employee and especially executive compensation, i.e. what the perpetrators were paid.
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Something that you can sensibly express as a fraction of the revenue of Meta is significant though.
It must be low enough that Meta never seriously considers to pull out of Europe.
> It must be low enough that Meta never seriously considers to pull out of Europe.
Why? Threathening is one thing, actually leaving one of the largest markets is something different. Also, not much of value would be lost.
> Something that you can sensibly express as a fraction of the revenue of Meta is significant though.
Also, if the percentage is low, it just becomes the "cost of doing business" and not a fine that would actually make them rethink and not do stuff like that again.
Why do you think Zuck became a wannabe fascho out of nowhere? DMA and GDPR fines will hurt Meta a lot when they are due. Zuck is trying to leverage Trump and the war to nullify the fines.
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They actually do; max GDPR penalty is 4% global revenue, say.
Of course the concern would be that even at that rate some companies might see it as a cost of doing business.
I'd be inclined to go with something closer to 40%, or 400%.
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> Meta has suffered zero liability in the EU. I guess because Zuc gives money to transgenders or something.
I'm sorry, but are you a real person?