Big Tech has already made enough money in 2024 to pay all its 2023 fines | Proton
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Big Tech (Alphabet, Amazon, Apple, Meta, and Microsoft)'s annual revenue dwarfs total fines. The cost for privacy is insignificant to them.
  • PaddleMaster@beehaw.org
    0·
    10 months ago

    Gross. Can we start making fines meaningful? % of revenue maybe? I’m not an expert on this. But these fines should be more than enough to discourage behavior and not be “cost of doing business”.

    • Radiant_sir_radiant@beehaw.org
      0·
      10 months ago

      The EU knows fines of ‘up to’ 4% of revenue for privacy violations, which means the company still gets to keep 96% of whatever it’s made by breaking the law. The fine should be a minimum of 50%, plus jail time for the managers responsible. Any punishment that does not make the shareholders cry with fury is too low and will do nothing to change the situation.

      • B0rax@feddit.de
        0·
        10 months ago

        No, they don’t get to keep 96%. It is revenue, not profit. That is a big difference.