The depressing fact this is already in their calculations really suggests fines should be vary based on a percentage of the company’s profits, not a set number for all.
I believe that is why people made such a fuss about the GDPR allowing courts to slap companies for up to 4% of their worldwide annual revenue. Whether or not that full extent is ever brought to bear against particularly megacorps is a different question, but at least medium-sized companies will probably avoid repeat offenses. I don’t know how Meta felt about the 1.2 billion ticket either, but I can’t imagine they just shrugged it off as normal business expenses.
They won’t notice, as fines are already in the cost projections.
The depressing fact this is already in their calculations really suggests fines should be vary based on a percentage of the company’s profits, not a set number for all.
If you do something illegal, and the result is a fixed fine, it’s only “illegal” for poor people. Rich people dgaf if they have to pay fine/ticket.
Never profits. Must be revenue.
Companies have ways of looking like they don’t make a profit, especially when it comes to filing taxes.
“Oh, we created a subsidiary in Ireland and, gosh darn, they charged us a gagillion dollars for this pen. We actually have a loss this year.”
Beat
“Stimulus please!”
I believe that is why people made such a fuss about the GDPR allowing courts to slap companies for up to 4% of their worldwide annual revenue. Whether or not that full extent is ever brought to bear against particularly megacorps is a different question, but at least medium-sized companies will probably avoid repeat offenses. I don’t know how Meta felt about the 1.2 billion ticket either, but I can’t imagine they just shrugged it off as normal business expenses.
Or it shouldn’t be a fine, but criminal prosecution for the executives responsible.