Earlier quoted context omitted.
Isn't GDPR supposed to be an attempt at this kind of thing, treating privacy issues as a punishable negative externality similar to pollution? I only ask because that all makes perfect sense to me, but I see a lot of negativity about GDPR on here, that all it ever does is stifle innovation and produce ever more cookie-agreement popups.
The EU has seen poor results with fines. The big tech companies (Google, Amazon, etc) pay them with the change they find in their couch cushions. Then, they continue doing whatever they want to do. It doesn't dissuade them.
I suspect when that happens the companies will launch a massive PR campaign and fight it in court but eventually lose. If they pull out of the EU or pay I have no idea.
Edit: seems like 4% of alphabets 2018 global revenue [1] is "only" 5.44 billion dollars. Wonder if it can be applied multiple times.
[1] https://www.statista.com/statistics/266206/googles-annual-gl...