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Honestly, most small USA businesses take one look at "Up to €20 million, or 4% annual global turnover – whichever is higher." and just run. There's no point in
by chx 8y ago
Honestly, most small USA businesses take one look at "Up to €20 million, or 4% annual global turnover – whichever is higher." and just run. There's no point in even trying to salvage the situation.
> For the 3.7 million small businesses with 1 to 4 employees, the Census Bureau figures show average annual sales in 2007 were $387,200.
Given that, who wants to risk a 20M fine? All this advice in this thread to do this, run it through a lawyer (lawyers are expensive especially international ones), makes no sense to the majority of the businesses in the USA: there are less than 8M employers in the USA and a very small percentage has a yearly turnover of even a mil not to mention the ~600M USD where the fine changes from a constant to a percentage.
To give you another idea of how much money this is, about a quarter of public companies have less than 25M USD market cap.
As a dual Canadian-EU citizen I am stupefied by this law.
- blackbrokkoli 8y agoPlease actually read the law before you try to argue with “as a...“. The fine scales with the violation and it does -surprise- not mean that arbitrary Github projects will have to pay 20m€...
- fenwick67 8y agoThe sentiment of a law doesn't always translate to the enforcement of it in practice
- dbbk 8y agoSimilar laws already exist and have existed for a long time. There’s no evidence of disproportionately and illogically large fines having been handed out in the past, and nothing to suggest regulators will start now.
- chx 8y agoShow me a law where you need to make half a billion euros before the potential fine becomes proportional of your turnover. It only takes one opportunistic apparatchik to make your life hell and this GDPR thing is now law in such places like Hungary where I haul from and if they can get away with it, trust me, they will go overboard. Maybe not 20M overboard but still.