Big Tech has already made enough money in 2024 to pay all its 2023 fines
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Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#2Either the fines need to be high enough until there is a material impact to shareholders, or natural persons who make decisions within the corporation needs to be held accountable (not just the legal person), OR, we need to fundamentally rethink what a corporation's charter must necessarily include (in addition to shareholder returns).
Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#3Instead of fines, it should be forced price reductions.
Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#4This article makes a good point comparing the relatively small magnitude of fines paid to revenue earned. It follows that perhaps fines are not deterring.
Perhaps a stronger deterrent would be injunction-based: companies found to be in violation of regulations and laws might be enjoined completely from operating in a commercial space. "One strike and you're out."
Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#5Either the fines need to be high enough until there is a material impact to shareholders, or natural persons who make decisions within the corporation needs to be held accountable (not just the legal person), OR, we need to fundamentally rethink what a corporation's charter must necessarily include (in addition to shareholder returns).
What is the pushback exactly against fining based on average yearly revenues ?
The EU has been issuing fines to google as mentioned ($8 billion still owed) but I never understood why they can't simply charge a 20% of revenue within the EU.
The fines are not to redeem some income for the EU, they're to deter bad actors. This is just not happening.
Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#6Either the fines need to be high enough until there is a material impact to shareholders, or natural persons who make decisions within the corporation needs to be held accountable (not just the legal person), OR, we need to fundamentally rethink what a corporation's charter must necessarily include (in addition to shareholder returns).
Could you imagine adding additional fine to shareholders? Like a reverse dividend? I wonder what disasters or blesses this will cause
Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#7This article makes a good point comparing the relatively small magnitude of fines paid to revenue earned. It follows that perhaps fines are not deterring. Perhaps a stronger deterrent would be injunction-based: companies found to be in violation of regulations and laws might be enjoined completely from operating in a commercial space. "One strike and you're out."
Isn't this one reason they use umbrella companies anyway ? IE: Meta Alphabet etc
> and laws might be enjoined completely from operating in a commercial space. "One strike and you're out."
They can just move the 'assets' of that bad actor to another one and continue as normal ?
Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#8Day 7 is 2% of the year. Is it not enough deterrent? If my portfolio is missing 2% growth per year I’d be pretty worrying
Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#9This article makes a good point comparing the relatively small magnitude of fines paid to revenue earned. It follows that perhaps fines are not deterring. Perhaps a stronger deterrent would be injunction-based: companies found to be in violation of regulations and laws might be enjoined completely from operating in a commercial space. "One strike and you're out."
Fine for big corp are just cost of doing business. All the big corp have some money stashed away for that purpose. It is all about working out with the AG on what the fine will be.
Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines
#10Either the fines need to be high enough until there is a material impact to shareholders, or natural persons who make decisions within the corporation needs to be held accountable (not just the legal person), OR, we need to fundamentally rethink what a corporation's charter must necessarily include (in addition to shareholder returns).
Could you imagine adding additional fine to shareholders? Like a reverse dividend? I wonder what disasters or blesses this will cause
This SHOULD be the way as they are the ones who stand to gain the most. They should be the ones who lose the most if the actions of their responsibilities are nefarious.