The depressing fact this is already in their calculations really suggests fines should be vary based on a percentage of the company’s profits, not a set number for all.
If you do something illegal, and the result is a fixed fine, it's only "illegal" for poor people. Rich people dgaf if they have to pay fine/ticket.
Never profits. Must be revenue.
Companies have ways of looking like they don't make a profit, especially when it comes to filing taxes.
"Oh, we created a subsidiary in Ireland and, gosh darn, they charged us a gagillion dollars for this pen. We actually have a loss this year."
Beat
"Stimulus please!"
I believe that is why people made such a fuss about the GDPR allowing courts to slap companies for up to 4% of their worldwide annual revenue. Whether or not that full extent is ever brought to bear against particularly megacorps is a different question, but at least medium-sized companies will probably avoid repeat offenses. I don't know how Meta felt about the 1.2 billion ticket either, but I can't imagine they just shrugged it off as normal business expenses.
Or it shouldn't be a fine, but criminal prosecution for the executives responsible.
The depressing fact this is already in their calculations really suggests fines should be vary based on a percentage of the company’s profits, not a set number for all.
If you do something illegal, and the result is a fixed fine, it's only "illegal" for poor people. Rich people dgaf if they have to pay fine/ticket.
Never profits. Must be revenue.
Companies have ways of looking like they don't make a profit, especially when it comes to filing taxes.
"Oh, we created a subsidiary in Ireland and, gosh darn, they charged us a gagillion dollars for this pen. We actually have a loss this year."
Beat
"Stimulus please!"
I believe that is why people made such a fuss about the GDPR allowing courts to slap companies for up to 4% of their worldwide annual revenue. Whether or not that full extent is ever brought to bear against particularly megacorps is a different question, but at least medium-sized companies will probably avoid repeat offenses. I don't know how Meta felt about the 1.2 billion ticket either, but I can't imagine they just shrugged it off as normal business expenses.
Or it shouldn't be a fine, but criminal prosecution for the executives responsible.