Europe gives Elon Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X

L4sBot@lemmy.worldmod to Technology@lemmy.world – 842 points – Europe gives Elon Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X, formerly Twitter
cnbc.com

Europe gives Elon Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X::Thierry Breton, the European commissioner for the internal market, warns Elon Musk about disinformation on X related to the Israel-Hamas conflict.

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Failure to comply with the European regulations around illegal content could result in fines worth 6% of a company’s annual revenue.

“I remind you that following the opening of a potential investigation and a finding of non-compliance, penalties can be imposed,” Breton wrote.

The second might be just talk but the first one is very much “something”.

Since Twitter lost $20 billion in value this year, he would argue that means the EU owes Twitter $1.2 billion.

Edit: Yes, revenue vs profit. I get it. It was a joke.

Revenue. Doesn't matter what they're worth.

Revenue, not profit.

In other words - Twitter would lose even more money. And they'd lose it to people that can take it straight from their bank accounts. 6% of it, to start with.

So $0.48 of every blue checkmark would go straight to the EU.

And, IIRC the penalty is based on last years or accounting periods data, i.e, from times where they still earned money.

Since Twitter lost $20 billion in value this year, he would argue that means the EU owes Twitter $1.2 billion.

Edit: Yes, revenue vs profit. I get it. It was a joke.

Wouldn't surprise me if that was Elon's "strategy" here.

That’s pretty much the joke I was going for, but I guess I should’ve been more obvious……