this post was submitted on 27 Jun 2024
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[–] robolemmy@lemmy.world 114 points 4 months ago (4 children)

Wow, a whole $1 million. They’ll notice that for like seven seconds.

[–] P1nkman@lemmy.world 39 points 4 months ago (2 children)

They won't notice, as fines are already in the cost projections.

[–] OberonSwanson@sh.itjust.works 32 points 4 months ago (4 children)

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.

[–] P1nkman@lemmy.world 16 points 4 months ago

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.

[–] CosmicTurtle0@lemmy.dbzer0.com 9 points 4 months ago (1 children)

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!"

[–] lennivelkant@discuss.tchncs.de 5 points 4 months ago

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.

[–] NABDad@lemmy.world 3 points 4 months ago

Or it shouldn't be a fine, but criminal prosecution for the executives responsible.

[–] Bakkoda@sh.itjust.works 2 points 4 months ago

And have been passed on to the consumer in doing so.

[–] palordrolap@kbin.run 14 points 4 months ago

The real punishment ought to be an atomic wedgie. For everyone who was a C-level for more than a month at that company in the last 10 years.

This ought to be the punishment for a lot of unethical business practices. You can't delegate that to a customer's wallet.

[–] Badeendje@lemmy.world 1 points 4 months ago* (last edited 4 months ago)

No they won't, but now they where deemed at fault, let the civil litigation begin. As this is the American way.