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Big Tech has already made enough money in 2024 to pay all its 2023 fines

proton.me

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Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#71

Post by lyu07282 »

hef19898 wrote: post #53
kmlx wrote: post #38

from the article: > As of seven days and three hours into 2024, they had already earned enough revenue to pay it all off. revenue is not the same as profit. this is basic stuff. from the same article: > Still, revenue is a more accurate depiction of a company’s size and profitability. it seems like this is rookie hour. then we look at the author's previous posts: https://proton.me/blog/big-tech-ipef With new trade de…

The moment people fail to differentiate between revenue and profit, one can safely ignore the rest of the article.

I would be more surprised if HN didn't sprint to defend big tech, profit numbers are worthless because they can easily make those look however they want. Revenue is a much more useful indicator when looking at these giga corpos from the outside.

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#72

Post by arp242 »

nickysielicki wrote: post #54

It's so easy to tell when Europe is voting on a post versus the US. Fines against these companies are predominantly rent seeking. You should be extra suspicious when the fines are coming from countries where they don't have offices. FTA: > Big Tech companies can further water down the potential sting of these fines by delaying payment for years(new window). They’ve done this by filing appeals, counter-suing, or simpl…

> You should be extra suspicious when the fines are coming from countries where they don't have offices.

They're doing business in these countries, and making a profit from that. Where they do or don't have an office isn't that important: it's about who they're doing business with.

And it's really very simple: "obey the law or sod off". If you think that's too much bother then that's completely fair – no hard feelings. Just don't do business then.

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#73

Post by jsnell »

kmlx wrote: post #38

from the article: > As of seven days and three hours into 2024, they had already earned enough revenue to pay it all off. revenue is not the same as profit. this is basic stuff. from the same article: > Still, revenue is a more accurate depiction of a company’s size and profitability. it seems like this is rookie hour. then we look at the author's previous posts: https://proton.me/blog/big-tech-ipef With new trade de…

I don't expect it's about having an axe to grind, but about running a content marketing mill where neither factual correctness nor originality matters. (The proposed call to action for the "fines aren't big enough" problem is, after all, to sign up for a paid email service.)

The poor guy has a quota to meet, and there was nothing in the news this week to use for rabble rousing, so the only option was to recycle some of the old content.

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#74

Post by ycdxvjp »

tokai wrote: post #40

The only way to tackle this is to put leadership in prison. If that is not possible give them the oligarch experience; frozen assets, interpol warrant, etc. It makes no sense that breaking the law gives milder consequences just as long as your crime is transnational and very extensive in scope.

There is an endless supply of corporate robots to replace them.

Instead there are options:

1. Govt walks in and just nationalizes them ala Japan post world war 2 where Mitsubishi, Sumimoto etc where just turned into puppets over night As in hostile takeover to influence how they use their loot.

2. Govt can then use the SpaceX model to disrupt brick and mortar sectors world wide (cement, steel, ships, planes, energy, fertilizer etc etc). The test will be bringing prices down of everything not just for Americans or the west but for everyone. other wise immigration waves just like the drugs flowing into the west will never stop.

Tech is supposed to fuck prices up. Google once upon a time did it for email, chat, video, search etc. I don't see why it can't happen with everything. We need grand goals not just how to add 6 more cameras into another fucking phone.

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#75

Post by Ekaros »

hef19898 wrote: post #70
Ekaros wrote: post #49

Earlier quoted context omitted.

Hmm, could we apply a fine to share. Either as fixed amount or percentage at time it is transacted on next time. Basically make them partially non-fungible... So fine is applied at end of some day. Now all shares are marked. And when they are sold next time this fine is paid.

Because as a shareholder, I have zero influence on whether or not the company violates laws?

Your shares can have voting rights. And it is up to you to utilize them. Or choose a way to invest that they are correctly utilized.

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#76

Post by ChatGTP »

tokai wrote: post #40

The only way to tackle this is to put leadership in prison. If that is not possible give them the oligarch experience; frozen assets, interpol warrant, etc. It makes no sense that breaking the law gives milder consequences just as long as your crime is transnational and very extensive in scope.

Tech controls politics through social media, you cannot stop it now. They can moderate any negative content which might hurt their plans. Not a good situation.

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#77

Post by [deleted] »

fifteen1506 wrote: post #52
bko wrote: post #48

Earlier quoted context omitted.

I didn't know companies can just ensure they have no profit on paper. Why don't they do that now and not pay corporate taxes? Why is it dependent on fines?

No clue on your specific question. However it is a known practice. Most Hollywood studios do it. That's why actors which claimed a percentage of profits of the movie would get $0.

[deleted]

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#78

Post by waffleiron »

fifteen1506 wrote: post #52
bko wrote: post #48

Earlier quoted context omitted.

I didn't know companies can just ensure they have no profit on paper. Why don't they do that now and not pay corporate taxes? Why is it dependent on fines?

No clue on your specific question. However it is a known practice. Most Hollywood studios do it. That's why actors which claimed a percentage of profits of the movie would get $0.

https://en.wikipedia.org/wiki/Hollywood_accounting

Handy wikipedia link

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#79

Post by ethbr1 »

hef19898 wrote: post #69
anticorporate wrote: post #63

Earlier quoted context omitted.

I don't think TFA failed to differentiate revenue and profit, though. I think the point is these companies have enough revenue to pay off the fines, and 358 days to return to profitability for the year, even starting out with an operating loss.

And now you are mixing free cash flow, with revenue, with profits...

Instead of bikeshedding, you might suggest an alternative time-vs-income-based measurement that you think is better?

It's obviously not profit, which it would be crazy to "require" to pay fines when looking at companies.

So what would you suggest using as a meter stick?

Re: Big Tech has already made enough money in 2024 to pay all its 2023 fines

#80

Post by djbusby »

hef19898 wrote: post #69
anticorporate wrote: post #63

Earlier quoted context omitted.

I don't think TFA failed to differentiate revenue and profit, though. I think the point is these companies have enough revenue to pay off the fines, and 358 days to return to profitability for the year, even starting out with an operating loss.

And now you are mixing free cash flow, with revenue, with profits...

Was the larger point (these companies are too damn big/powerful) so unimportant that it could be dismissed by lay-person usage of terms intended to highlight points of fact for gen-pop?
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