6 ms·

Still not enough, if by a simple calculation they make 200,000$ of profits per day. The fine should be higher than the profit, period.

by Marcan 3y ago

varispeed 3y ago
Fine should be based on revenue, not the profit. If it's based on profit, then it is just cost of doing business.
- JumpCrisscross 3y ago
  Fines should be proportional to the damage they deter and compensate for. Fixing fine to revenues means tech companies can make a mockery of the law, as penalties must be ruinous for every other industry or laughably low for tech’s margins.
  - varispeed 3y ago
    Fine fixed to profit will do no damage as oppose to fixed to revenue, because profit comes after all expenses so the fine will have no effect, apart from maybe hurting shareholders a little. I agree with your general sentiment though.
    - frumper 3y ago
      Shareholders are the owners of the company. I would think that's where you'd actually want the fines to hit. The shareholders should be responsible for putting in sensible leadership that doesn't get them fined.
Snafuh 3y ago
How much are they making in Norway? Why would global revenue/profit be relevant for a fine in Norway about Norwegian users?
- lnxg33k1 3y ago
  Because GDPR accounts for fines to be relative to global turnover https://gdpr-info.eu/issues/fines-penalties/ https://gdpr-info.eu/issues/fines-penalties/
  - McDyver 3y ago
    Is there an instance where this was actually applied? We read about privacy related fines here and there, but none really seem to take into account the global revenue
    - lnxg33k1 3y ago
      As European I've lived through the crisis of 2008, when people were killing themselves due to lack of money and the only concern of EU was pleasing markets, save banks without any repercussions to those who caused all that pain, etc. I am aware that EU is a PR stunt, probably will make some regulation here and there, but nothing exceptional, it's still a neoliberal/corporativist sewer at the end of the day
  - robertlagrant 3y ago
    That doesn't mean it should always be applied. We shouldn't be attempting to annihilate companies. Just make sure the fine outweighs the benefit of doing something - just as we would with most fines.
    - lnxg33k1 3y ago
      I am not sure we shouldn't try to annihilate companies, is a good strategy, or at least not for any company, Meta is useless for society and constantly lying, stealing, omitting, exploiting, endangering, we shouldn't be willing to annihilate companies who make mistakes, probably we should aim to annihilate companies which consistently behave at the edge of civilization
      - robertlagrant 3y ago
kaliqt 3y ago
We're assuming that's profit and not revenue, two different things.

Still not enough, if by a simple calculation they make 200,000$ of profits per day. The fine should be higher than the profit, period.

by Marcan 3y ago

Still not enough, if by a simple calculation they make 200,000$ of profits per day. The fine should be higher than the profit, period.

varispeed 3y ago

Fine should be based on revenue, not the profit. If it's based on profit, then it is just cost of doing business.

JumpCrisscross 3y ago
Fines should be proportional to the damage they deter and compensate for. Fixing fine to revenues means tech companies can make a mockery of the law, as penalties must be ruinous for every other industry or laughably low for tech’s margins.
- varispeed 3y ago
  Fine fixed to profit will do no damage as oppose to fixed to revenue, because profit comes after all expenses so the fine will have no effect, apart from maybe hurting shareholders a little. I agree with your general sentiment though.
  - frumper 3y ago
    Shareholders are the owners of the company. I would think that's where you'd actually want the fines to hit. The shareholders should be responsible for putting in sensible leadership that doesn't get them fined.

Snafuh 3y ago

How much are they making in Norway? Why would global revenue/profit be relevant for a fine in Norway about Norwegian users?

lnxg33k1 3y ago
Because GDPR accounts for fines to be relative to global turnover https://gdpr-info.eu/issues/fines-penalties/ https://gdpr-info.eu/issues/fines-penalties/
- McDyver 3y ago
  Is there an instance where this was actually applied? We read about privacy related fines here and there, but none really seem to take into account the global revenue
  - lnxg33k1 3y ago
    As European I've lived through the crisis of 2008, when people were killing themselves due to lack of money and the only concern of EU was pleasing markets, save banks without any repercussions to those who caused all that pain, etc. I am aware that EU is a PR stunt, probably will make some regulation here and there, but nothing exceptional, it's still a neoliberal/corporativist sewer at the end of the day
- robertlagrant 3y ago
  That doesn't mean it should always be applied. We shouldn't be attempting to annihilate companies. Just make sure the fine outweighs the benefit of doing something - just as we would with most fines.
  - lnxg33k1 3y ago
    I am not sure we shouldn't try to annihilate companies, is a good strategy, or at least not for any company, Meta is useless for society and constantly lying, stealing, omitting, exploiting, endangering, we shouldn't be willing to annihilate companies who make mistakes, probably we should aim to annihilate companies which consistently behave at the edge of civilization
    - robertlagrant 3y ago

kaliqt 3y ago

We're assuming that's profit and not revenue, two different things.