3 ms·

But they still get fined 4% of their global revenue. A few $1.5bn fines and they'll learn how to delete.

by isostatic 9y ago

TheSpiceIsLife 9y ago
I haven’t read the relevant (proposed?) legislation, but aren’t these sorts of penalties usually written as ”fines up to x”?
- asfdsfggtfd 9y ago
  This one is at least...
- zaarn 9y ago
  The EU has recognized that a 200 million fine won't hurt facebook. Instead it says "fines up to X€ or Y% of global turnover, whichever is higher." I also strongly suspect that in cases like FB or Google, the judges will happily go for the 4% mark if possible.
  - TheSpiceIsLife 9y ago
    Ok, great thanks for clearing that up. Yes, this is a good thing, in opinion. There was a case where a Finnish man was fine 54,000 Euro for speeding, where the fine is calculated based on income[1]. I think this seems like a reasonable way of metering our penalties. It seems reasonable to me companies should be treated in a similar manner. 1. http://www.bbc.com/news/blogs-news-from-elsewhere-31709454 http://www.bbc.com/news/blogs-news-from-elsewhere-31709454
    - zaarn 9y ago
      Atleast for regulations like these, yeah. Big corps like facebook don't care if they get hit with 200 M€. 4% of Facebook's global turnover however... I'm sure the EU will find some way to spend 2 billion € for something useful. (13% of their net income btw)
- isostatic 9y ago
  Yes. A minor technical cockup when the company is attempting to meet the spirit of the law wouldn't be treated as harshly as a systematic failure, or a deliberate attempt to work around the spirit by following the letter. If facebook discover a backup from 2012 on a tape that hasn't had items deleted, and adapt their processes so it doesn't happen again, they won't be hit with a $1b fine. If they deliberately refuse to delete people's data as a policy, they will be.

3 ms·

But they still get fined 4% of their global revenue. A few $1.5bn fines and they'll learn how to delete.

by isostatic 9y ago

But they still get fined 4% of their global revenue. A few $1.5bn fines and they'll learn how to delete.

TheSpiceIsLife 9y ago
I haven’t read the relevant (proposed?) legislation, but aren’t these sorts of penalties usually written as ”fines up to x”?
- asfdsfggtfd 9y ago
  This one is at least...
- zaarn 9y ago
  The EU has recognized that a 200 million fine won't hurt facebook. Instead it says "fines up to X€ or Y% of global turnover, whichever is higher." I also strongly suspect that in cases like FB or Google, the judges will happily go for the 4% mark if possible.
  - TheSpiceIsLife 9y ago
    Ok, great thanks for clearing that up. Yes, this is a good thing, in opinion. There was a case where a Finnish man was fine 54,000 Euro for speeding, where the fine is calculated based on income[1]. I think this seems like a reasonable way of metering our penalties. It seems reasonable to me companies should be treated in a similar manner. 1. http://www.bbc.com/news/blogs-news-from-elsewhere-31709454 http://www.bbc.com/news/blogs-news-from-elsewhere-31709454
    - zaarn 9y ago
      Atleast for regulations like these, yeah. Big corps like facebook don't care if they get hit with 200 M€. 4% of Facebook's global turnover however... I'm sure the EU will find some way to spend 2 billion € for something useful. (13% of their net income btw)
- isostatic 9y ago
  Yes. A minor technical cockup when the company is attempting to meet the spirit of the law wouldn't be treated as harshly as a systematic failure, or a deliberate attempt to work around the spirit by following the letter. If facebook discover a backup from 2012 on a tape that hasn't had items deleted, and adapt their processes so it doesn't happen again, they won't be hit with a $1b fine. If they deliberately refuse to delete people's data as a policy, they will be.