10 ms·

Not enough

• weebull 3y ago
  Especially as it only runs until November.
• codetrotter 3y ago
  It’s funny because to me as a Norwegian, 1 million Norwegian kroner sounds like quite a lot per day. But that’s because I am using my personal income per year as reference. But to a company like Meta, this is probably pocket change.
  • mnky9800n 3y ago
    The last time this was posted someone did a back of the envelope calculation showing that this accounts for maybe 1/3 of all daily income from Norway so it is a sizeable amount that is proportional to everything.
    • Marcan 3y ago
      Still not enough, if by a simple calculation they make 200,000$ of profits per day. The fine should be higher than the profit, period.
      • varispeed 3y ago
        Fine should be based on revenue, not the profit. If it's based on profit, then it is just cost of doing business.
        • JumpCrisscross 3y ago
          Fines should be proportional to the damage they deter and compensate for. Fixing fine to revenues means tech companies can make a mockery of the law, as penalties must be ruinous for every other industry or laughably low for tech’s margins.
          • varispeed 3y ago
            Fine fixed to profit will do no damage as oppose to fixed to revenue, because profit comes after all expenses so the fine will have no effect, apart from maybe hurting shareholders a little. I agree with your general sentiment though.
            • frumper 3y ago
              Shareholders are the owners of the company. I would think that's where you'd actually want the fines to hit. The shareholders should be responsible for putting in sensible leadership that doesn't get them fined.
      • Snafuh 3y ago
        How much are they making in Norway? Why would global revenue/profit be relevant for a fine in Norway about Norwegian users?
        • lnxg33k1 3y ago
          Because GDPR accounts for fines to be relative to global turnover https://gdpr-info.eu/issues/fines-penalties/ https://gdpr-info.eu/issues/fines-penalties/
          • McDyver 3y ago
            Is there an instance where this was actually applied? We read about privacy related fines here and there, but none really seem to take into account the global revenue
            • lnxg33k1 3y ago
              As European I've lived through the crisis of 2008, when people were killing themselves due to lack of money and the only concern of EU was pleasing markets, save banks without any repercussions to those who caused all that pain, etc. I am aware that EU is a PR stunt, probably will make some regulation here and there, but nothing exceptional, it's still a neoliberal/corporativist sewer at the end of the day
          • robertlagrant 3y ago
            That doesn't mean it should always be applied. We shouldn't be attempting to annihilate companies. Just make sure the fine outweighs the benefit of doing something - just as we would with most fines.
            • lnxg33k1 3y ago
              I am not sure we shouldn't try to annihilate companies, is a good strategy, or at least not for any company, Meta is useless for society and constantly lying, stealing, omitting, exploiting, endangering, we shouldn't be willing to annihilate companies who make mistakes, probably we should aim to annihilate companies which consistently behave at the edge of civilization
      • kaliqt 3y ago
        We're assuming that's profit and not revenue, two different things.
    • NorwegianDude 3y ago
      It's estimated to be around 15 % of Meta's daily income in 2021 from Norway.
  • thumbuddy 3y ago
    Probably closer to dropped it on the ground but in too much of a hurry doing something else to pick it up money.
• runarb 3y ago
  From what I can remember from other cases here in Norway, the daily fines will be increased if the regulatory body sees that they do not have any effect. The goal here is compliance. So the regulators will first try guidance, then a formal warning, then daily fines, then increasing the fine, fine (local) directors personally, and finally dissolvent of Metas local company. Metas local company is named "Facebook Norway AS" and in 2022 did have a revenue of about 6.6 million USD, with a profit of 3.6 million USD according to https://www.proff.no/selskap/facebook-norway-as/oslo/reklamebyr%C3%A5er/IF5JLYW01DI/ https://www.proff.no/selskap/facebook-norway-as/oslo/reklame... . They have 27 employees. The revenue from Norway are however much bigger and was speculated to be 233 million USD in 2021: https://e24.no/naeringsliv/i/A3r1Mz/facebook-bokfoerte-bare-54-millioner-kroner-i-inntekter-i-norge-i-fjor https://e24.no/naeringsliv/i/A3r1Mz/facebook-bokfoerte-bare-...
  • chx 3y ago
    This is the thing: the corporate nuke as a tool is available in most jurisdictions -- how could it not be? -- but at place like Norway I can very well see it being used. There was talk California should've used it on Uber for Greyball.
    • JumpCrisscross 3y ago
      > the corporate nuke as a tool is available in most jurisdictions “Corporate nuke” is a corporate lobbyist’s term for distracting from massive fines. Barring expropriation, once you ask what happens to the nuked assets, corporate death penalties all come down to massive fines with extra steps. If you want to “nuke” a corporation, revoke its licenses (not applicable here) or levy a massive fine.