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TikTok fined €345M for breaking EU data law on children’s accounts

theguardian.com

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Re: TikTok fined €345M for breaking EU data law on children’s accounts

#181

Post by generic92034 »

hef19898 wrote: post #136
esarbe wrote: post #117

Earlier quoted context omitted.

The GDPR applies to all companies, social network platforms or not. It's not even about the internet in particular, it's about how companies can store and process private information of EU citizens.

SAP is B2B, the vast majoritybof personal data is professional (supplier and customer business contacts) and emoloyee data (payroll and such). Not much to fine here. Also, since SAP as a company isn't handling any of that data, SAP isn't really affected.

> Also, since SAP as a company isn't handling any of that data, SAP isn't really affected.

I am not sure that is completely correct, considering SAP's cloud offerings.

Re: TikTok fined €345M for breaking EU data law on children’s accounts

#183

Post by hef19898 »

generic92034 wrote: post #181
hef19898 wrote: post #136

Earlier quoted context omitted.

SAP is B2B, the vast majoritybof personal data is professional (supplier and customer business contacts) and emoloyee data (payroll and such). Not much to fine here. Also, since SAP as a company isn't handling any of that data, SAP isn't really affected.

> Also, since SAP as a company isn't handling any of that data, SAP isn't really affected. I am not sure that is completely correct, considering SAP's cloud offerings.

With EU based servers? Sure, GDPR applies. But so far I didn't hear anything about SAP not being compliant.

Re: TikTok fined €345M for breaking EU data law on children’s accounts

#184

Post by karaterobot »

vorticalbox wrote: post #138
meghan_rain wrote: post #135

At what point will armchair CEOs stop with the "lmao x is just a blip in y's revenue"? Do you think 345M grow on trees?

They are expected to have $13.2 billion this year.

I think that number is their revenue rather than their profit, which is probably closer to $3 billion. So, this fine would be (very roughly) 10% of their profits for the year.

Re: TikTok fined €345M for breaking EU data law on children’s accounts

#185

Post by SeanAnderson »

mym1990 wrote: post #174

Any breaking of the law in regards to children needs to absolutely incinerate the offending party, this fine seems like a drop in the bucket. Kids these days are bombarded by terrible industry practices because companies know if they can get a child hooked, they could be a customer for life(or at least a period of time in their adulthood). In the US, kids are advertised to at literally every corner of their life...in…

What sort of fine would you consider not to be a drop in the bucket?

This fine looks to be an estimated 1/8 of TikTok's profit in 2022.

Re: TikTok fined €345M for breaking EU data law on children’s accounts

#187

Post by yumraj »

SeanAnderson wrote: post #185
mym1990 wrote: post #174

Any breaking of the law in regards to children needs to absolutely incinerate the offending party, this fine seems like a drop in the bucket. Kids these days are bombarded by terrible industry practices because companies know if they can get a child hooked, they could be a customer for life(or at least a period of time in their adulthood). In the US, kids are advertised to at literally every corner of their life...in…

What sort of fine would you consider not to be a drop in the bucket? This fine looks to be an estimated 1/8 of TikTok's profit in 2022.

25% of Annual Revenue and firing of all CxOs (CEO, COO, CTO etc)

Re: TikTok fined €345M for breaking EU data law on children’s accounts

#188

Post by Barrin92 »

kmlx wrote: post #86
kibwen wrote: post #44

Earlier quoted context omitted.

If respecting privacy prevents tech companies from forming, then we should all be celebrating when those tech companies fail to form.

this is a naive take. companies will still be formed. they will just http 451 all EU users. like threads does right now. this will also mean losing out, but i guess europeans are used to losing out, and actually prefer it?

> but i guess europeans are used to losing out, and actually prefer it?

losing out on companies that are detrimental to our social fabric, democracy, and psychological health of children is a good thing. Mistaking company values on a stock market for population health is the human equivalent of acting like a paperclip AI

Re: TikTok fined €345M for breaking EU data law on children’s accounts

#189

Post by esarbe »

rsynnott wrote: post #139
esarbe wrote: post #117

Earlier quoted context omitted.

The GDPR applies to all companies, social network platforms or not. It's not even about the internet in particular, it's about how companies can store and process private information of EU citizens.

Sure, but SAP's business model doesn't depend on doing as much privacy violation as they can get away with (this is basically the business model of all adtech) so they're far less likely to fall afoul of the GDPR. The main risk to a company like SAP would be _accidentally_ falling afoul of the law; this tends to happen where companies are grossly negligent in their handling of personal data, and this is then exposed…

You are absolutely correct with this.

I'm absolutely in favor of making it impossible for adtech to make any profit at all as long as they build their business on monetizing user data and exposing their users to all kinds of hazards.

I find it funny that so few people here see a problem with that kind of behavior. It's as if they expect society to serve the market, instead of the other way around.

Re: TikTok fined €345M for breaking EU data law on children’s accounts

#190

Post by bragr »

yumraj wrote: post #187
SeanAnderson wrote: post #185

Earlier quoted context omitted.

What sort of fine would you consider not to be a drop in the bucket? This fine looks to be an estimated 1/8 of TikTok's profit in 2022.

25% of Annual Revenue and firing of all CxOs (CEO, COO, CTO etc)

They'll just write bigger golden parachutes into their contacts to offset the risk. That or suddenly everyone is an EVP and the C levels all are just paid fall guys.

But 25% revenue might work.

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