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This fine is precisely in line with the intentions of the European Parliament when they signed the GDPR into law. That is certainly a statement that no one cou

This fine is precisely in line with the intentions of the European Parliament when they signed the GDPR into law. That is certainly a statement that no one could argue with. I think the argument is whether those intentions are actually good, logical, or workable. For example, the fine structure is explicitly designed so that they could take all of the assets of a small business and wipe it off the face of the map, but only take 5% of annual revenue of a large business. Does that reflect an intention to consolidate market power in the hands of a very few companies? That would be a bad intention in IMO.

xxs 7y ago
>but only take 5% of annual revenue of a large business It's 4% global revenue and it's really a lot. Fines are issued based on the amount of data and amount of people affected. Small companies rarely need anything but contact information. Storing the data securely is no trivial task for any size of organization, though. Small companies would have significantly less data and customers to be worthy of a hefty fine. Again, if you can't keep the data secure, don't go into such a business.
- downandout 7y ago
  I was referring to the maximum fine. It is 4% of global revenues, or 20M EUR, whichever is greater. So the maximum fine would wipe out any business that doesn’t happen to have 20M EUR lying around - that might be 1000% of what they have, but the damage to a large business is capped at 4% of their revenue regardless of how egregious the behavior. That kind of a fine structure has only one possible purpose: it was specifically designed to be able to decimate small businesses while being a minor speed bump for any large business. The ultimate effect is the consolidation of power into the hands of handful of large companies.
  - isostatic 7y ago
    Normal fines are “up to x million” The GDPR fine is specially done some large multinationals can’t ignore it.
    - deleted 7y ago
      [deleted]

xxs 7y ago

>but only take 5% of annual revenue of a large business It's 4% global revenue and it's really a lot. Fines are issued based on the amount of data and amount of people affected. Small companies rarely need anything but contact information. Storing the data securely is no trivial task for any size of organization, though. Small companies would have significantly less data and customers to be worthy of a hefty fine. Again, if you can't keep the data secure, don't go into such a business.

downandout 7y ago
I was referring to the maximum fine. It is 4% of global revenues, or 20M EUR, whichever is greater. So the maximum fine would wipe out any business that doesn’t happen to have 20M EUR lying around - that might be 1000% of what they have, but the damage to a large business is capped at 4% of their revenue regardless of how egregious the behavior. That kind of a fine structure has only one possible purpose: it was specifically designed to be able to decimate small businesses while being a minor speed bump for any large business. The ultimate effect is the consolidation of power into the hands of handful of large companies.
- isostatic 7y ago
  Normal fines are “up to x million” The GDPR fine is specially done some large multinationals can’t ignore it.
  - deleted 7y ago
    [deleted]