AT&T has 110 million customers. Let's be optimistic and assume that each customer only has to spend one minute of extra time managing their account due to the break-in. That is more than 209 years of lost time. Laws related to data breaches need to have much sharper teeth. Companies are going to do the bare minimum when it comes to securing data as long as breaches have almost no real consequences. Maybe pierce the c…
Genuinely chonky fines seems to be the answer to this problem, as it aligns incentives with rewards/penalties (if you’re lax about how your company approaches user data then you’ll be at financial risk). Piercing the veil to prosecute those “responsible” seems like it would just incentivise the business to carry on as normal but with employees that are contractually designated (i.e. forced) to be fall guys if anythin…
Monopolies can always just pass the cost of the fine to their customers.