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That’s 1.45% of their annual revenue or 5.2% of their annual net profit.
by drexlspivey 4y ago
That’s 1.45% of their annual revenue or 5.2% of their annual net profit.
- 988747 4y agoYes, but it's also a threat of further fines in future if they don't stop their shenanigans.
- p-e-w 4y agoWhich is essentially nothing. Imagine an individual, caught committing an illegal act of this magnitude for the third time, being fined 1.45% of their annual pre-tax salary, with no other consequences. Speeding tickets are costlier than this in many jurisdictions.
- BiteCode_dev 4y agoIf you were earning minimal wage in France, that would be about $1500 of fine for the equivalent of being caught commiting burglary for the 3rd time. Quite lucrative.
- yamtaddle 4y agoFactor in marginal utility of income, and it's even more lame. $1,500 means a lot more to someone making minimum wage than $4,000,000,000 does to Google.
- tester756 4y ago>Which is essentially nothing. Holy shit. Is it some sign of being on HN too much? Sure, 1.45% is small, because % is shitty at representing the real value at this point at the end of the day it's fucking $4 000 000 000 It's year salary of 2200 well paid engineers That's industry-changing level of possibilities
- Fiahil 4y agocloser to 8000 engineers, if you want to spend 500k/eng in salary alone (pre tax)
- bush-bby 4y ago1.8 mil is “well-payed”…?
- deleted 4y ago[deleted]
- tester756 4y agoops, I've taken annual salary as monthly :D I wanted to have 150k per person, thus "well-paid". This way it is even more ridiculous since 4 000 000 000 / 150 000 = 26 666 engineers! but, 1.8 mil is definitely well paid!
- rvz 4y agoGoogle makes twice more than Facebook in their annual profits and still Facebook can afford to pay the FTC's record fine and still continues with collecting more PII and violating the privacy of their users. $4B is essentially nothing and instead it should be the minimum fine for these companies. Repeated violations from them should be in the significant multi-billions, much higher than this generous discount of a fine that the EU is asking for. This proves that they will do it again and won't change until the fines get higher than $10B.
- colinmhayes 4y agoI don't care how much money you have or make. $4 billion can buy an enormous amount of stuff, it is in no way essentially nothing.