4 ms·
Is the $8B profit or revenue? To your point, $16M is surely not a big fine for such a big company though, but I do think it's important not conflate profit and
by freedomben 2y ago
Is the $8B profit or revenue?
To your point, $16M is surely not a big fine for such a big company though, but I do think it's important not conflate profit and revenue when evaluating fines.
Generally speaking, I would love to see some much harsher penalties for negligence with data. I want companies to start seeing customer data as a liability, not as an asset, and I don't think that will happen until f**k-ups starts really making a dent in the bank account.
- Wytwwww 2y ago> Is the $8B profit or revenue? Profit, their revenue is almost 80 billion. Fines like this should be certainly based on revenue rather than profit, though (like the EU does it)
- freedomben 2y agoWhy should they be based on revenue rather than profit? (I'm not disagreeing, interested to understand your reasoning)
- c0wb0yc0d3r 2y agoNo the person you were replying to, but my reason is that revenue is before expenses. The fine actually has to cost the company money for it to mean anything.
- supertrope 2y agoBusinesses can strategically reduce taxable income. Gross revenue is less malleable.
- blackeyeblitzar 2y agoIt’s $8.3B in net income (so profit) - see slide 4 in this PDF: https://s29.q4cdn.com/310188824/files/doc_financials/2023/ar/TMUS-2023-Annual-Report.pdf https://s29.q4cdn.com/310188824/files/doc_financials/2023/ar...
- default-kramer 2y agoI still think the C-suite won't care unless the cleanup/penalty costs get pulled directly from their bonus before anywhere else. Otherwise it will just be "oops, I tanked this business, better luck at the next one."