Two things I wonder about: first are these fines actually going to happen or is the sort of thing where it gets appealed indefinitely. And second, where do the fines go? It sounds a lot like since Ireland is where Tiktok is getting fined the fines go to the Irish government which would seem crazy. The fines are assessed in the context of the full EU, but only Ireland gets the revenue? This is broken.
If it's truly Ireland only, then Tiktok might just exit the country and not pay the fine. Perhaps this is what Ireland wants? Ireland is a small market. It'll take forever to make 530m in profit in Ireland for Tiktok.
Meanwhile this is a very interesting read on their corporate structure: https://committees.parliament.uk/writtenevidence/13247/defau...
"On corporate structure specifically, there is a misconception that TikTok UK is a subsidiary of ByteDance's operations in China. This is not the case. TikTok UK is owned by global parent company ByteDance Ltd, incorporated in the Cayman Islands"
.. now, everyone talks about China as a global enemy of freedom and accountability, but I think Grand Cayman is underestimated as a bad actor or protector thereof.