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If they did 10% of global turnover, I'm pretty sure the US government would get involved, so I don't think Europe will go there. They would basically be startin
by seanmcdirmid 3y ago
If they did 10% of global turnover, I'm pretty sure the US government would get involved, so I don't think Europe will go there. They would basically be starting a trade war.
> but I love the idea of smacking companies with real fines for not complying / maliciously complying with laws.
A lot of people don't, or to say, when you have extra-territorial penalties (we are going to fine you on all the money you spend), things get messy really quickly.
Apple can also always just exit the European market. At some point it makes no sense to be in it, and Europeans will simply buy their iPhones on overseas trips.
- nojvek 3y agoThe shareholders of Apple would give Timecook a reality check. Apple is struggling to grow. Exiting Europe would start a cascading effect. They would lose trillion from market cap if they exited.
- seanmcdirmid 3y agoIt would never make it that far, so we are just speaking hypothetical, but basing fines on global turn over is specifically targeted at American companies (who make most of their money not in Europe), and would get attention from the USG.