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CompassionateCedar t1_iy4o3ii wrote

Reply to comment by meBottleOfScrampy in Facebook Parent Meta Fined $276 Million in Europe for Data-Scraping Leak by bubblehack3r

4% of yearly revenue is the maximum fine Europe can impose. I can’t imagine what would more appropriate for a fine like that than collecting data on every European with internet access without them even having a Facebook account.

And that data being collected for the sole purpose of selling it to the highest bidder

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Deranged40 t1_iy4t3ip wrote

> 4% of yearly revenue is the maximum fine Europe can impose.

This means, anything that is "not legal" in Europe must now increase revenue by 5% or more to get a green light at the company.

I'm glad that they had the corporate interests in mind when setting that cap at 4%. Wouldn't want to hurt a company for doing wrong, would you?

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CompassionateCedar t1_iy506jj wrote

It’s worldwide revenue not just in the EU and revenue is a lot more than profit.

If Amazon were to get a 4% revenue fine that would be equal to 72% of their yearly profit. Meaning it would seriously eat into their margins.

Facebook had about 1/10 of their revenue as profit so a 4% fine would take about half their yearly profits. Doing something illegal in Europe to double your worldwide profit seems not so easy to do.

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tissotti t1_iy72h10 wrote

At least EU is doing something. Data privacy laws are a joke in US.

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