Earlier quoted context omitted.
> Have us testify before technologically illiterate politicians and fine us 1% of what we pay our CEO? Slack operates in the EU and has paying customers in the EU. It also likes to take advantage of anti-competition regulations when convenient: https://slack.com/intl/en-in/blog/news/slack-files-eu-compet... CEO pay seemed to be $356,952 at time of Slack's IPO. Maximum fine under GDPR is the greater of 4% annual turno…
> Regulations here have teeth; it's not the United States - and it's a good thing for society that they do. sadly, the regulators are yet to show that the GDPR has any teeth. Most recently, the ICO gave British Airways and Marriott significant reductions on fines they raised last year.
H&M have been fined £32M. This wasn't hugely far off the 4% annual turnover cap.
Compared to the previous Data Protection Act limits, these fines are definitely significant.