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Yes, I disagree that fining a company with nearly $117 billion in revenue a billion euro is “large.” That’s “cost of doing business” money, not any kind of puni

Yes, I disagree that fining a company with nearly $117 billion in revenue a billion euro is “large.” That’s “cost of doing business” money, not any kind of punishment or deterrent.

Kbelicius 4y ago
Of which profits are < 25$ billion. How much of that was generated within the EU?
- actually_a_dog 4y ago
  I don't see why that's relevant.
  - Kbelicius 4y ago
    Then why did you put numbers in your first post if you don't find them relevant? You find local fine/global revenue somehow relevant but you don't find local fine/local profit or even local fine/local revenue relevant? Could you explain why?
rnhmjoj 4y ago
This "cost of doing business" meme is becoming annoying. Collectively, Facebook, WhatsApp and Meta platforms have been fined in 2022 for $687 million by a single country alone, Ireland[1]. $117 billion was the global revenue, the revenue generated in Europe was $25.8 billion[2], so the fines amount to 2.6% of what they make by accessing the European markets. Also their net income was $23.2 billion, globally, so the fines from a single country made 3% of that. Do you still think it's a negligible cost? These costs are also going up: in January 2023 Ireland issued two more fines for $0.4 billion. [1]: You can check at https://www.enforcementtracker.com/ https://www.enforcementtracker.com/ [2]: https://www.statista.com/statistics/745351/facebooks-quarterly-revenue-in-europe/ https://www.statista.com/statistics/745351/facebooks-quarter...
- account42 4y ago
  > by a single country alone, Ireland[1]. Ireland's data privacy serves as Meta's main regulator in the European Union because the company's European headquarters are in Dublin. Making it out as if Ireland's GDPR fines are "just one country" is disingenuous.
- actually_a_dog 4y ago
  Yes, ~1 billion from $177 billion in global revenue is a negligible cost.

Yes, I disagree that fining a company with nearly $117 billion in revenue a billion euro is “large.” That’s “cost of doing business” money, not any kind of punishment or deterrent.

Kbelicius 4y ago

Of which profits are < 25$ billion. How much of that was generated within the EU?

actually_a_dog 4y ago
I don't see why that's relevant.
- Kbelicius 4y ago
  Then why did you put numbers in your first post if you don't find them relevant? You find local fine/global revenue somehow relevant but you don't find local fine/local profit or even local fine/local revenue relevant? Could you explain why?

rnhmjoj 4y ago

This "cost of doing business" meme is becoming annoying. Collectively, Facebook, WhatsApp and Meta platforms have been fined in 2022 for $687 million by a single country alone, Ireland[1]. $117 billion was the global revenue, the revenue generated in Europe was $25.8 billion[2], so the fines amount to 2.6% of what they make by accessing the European markets. Also their net income was $23.2 billion, globally, so the fines from a single country made 3% of that. Do you still think it's a negligible cost? These costs are also going up: in January 2023 Ireland issued two more fines for $0.4 billion. [1]: You can check at https://www.enforcementtracker.com/ https://www.enforcementtracker.com/ [2]: https://www.statista.com/statistics/745351/facebooks-quarterly-revenue-in-europe/ https://www.statista.com/statistics/745351/facebooks-quarter...

account42 4y ago
> by a single country alone, Ireland[1]. Ireland's data privacy serves as Meta's main regulator in the European Union because the company's European headquarters are in Dublin. Making it out as if Ireland's GDPR fines are "just one country" is disingenuous.
actually_a_dog 4y ago
Yes, ~1 billion from $177 billion in global revenue is a negligible cost.