We need a total revolution. The people who ought to be fined are the ones buying the laws.
Comment on Big Tech has already made enough money in 2024 to pay all its 2023 fines
PaddleMaster@beehaw.org 5 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”.
explodicle@local106.com 5 months ago
DdCno1@beehaw.org 5 months ago
Total revolutions tend to eat their children. Those who are already the most vulnerable in the old system tend to be in the most precarious situation in the new one as well. What we actually need is careful and gradual reform, based on democratic principles, instead of revoluzzers imposing their will upon the rest of the population, which is how most revolutions end.
explodicle@local106.com 5 months ago
My country is literally an oligarchy, not a democracy. The oligarchs don’t want to gradually reform based on democratic principles. But they sure want us to think they will.
Radiant_sir_radiant@beehaw.org 5 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 fine that does not make the shareholders cry with fury is too low and will do nothing to change the situation.
B0rax@feddit.de 5 months ago
No, they don’t get to keep 96%. It is revenue, not profit. That is a big difference.
Radiant_sir_radiant@beehaw.org 5 months ago
I’m well aware of the difference (see my other posts). But it still means that even with the maximum fine, a revenue of 100 billion is still a revenue of 96 billion. Even with an unrealistically low profit margin of 10% it was still worth it to them.