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Oh yeah for sure, I'm not suggesting the fine is bad, I'm suggesting it's insufficient. I want to "yes and" this, not replace it. Fine them, and incentivize ch
by ToucanLoucan 2mo ago
Oh yeah for sure, I'm not suggesting the fine is bad, I'm suggesting it's insufficient. I want to "yes and" this, not replace it.
Fine them, and incentivize change for them and all other businesses in the space. Fines just clearly, demonstrably don't do that. Jail time for executives would, IMO.
- lkbm 2mo agoBigger fines would, too. If you gain $1B by doing an action, but you have a >10% chance of a >10B fine, it's expected value is negative. The 10% and 10B might need to be extra high to account for hyperbolic discounting, but I think we could get there just by increasing those numbers. Shortening the time from gain and fine would also help. I don't think we can get it into a single-quarter cycle, but most CEOs don't want their company bankrupted five years down the line, either.
- bluefirebrand 2mo agoJail time for top investors would too Imagine that. Forget the corporate veil, if you are invested heavily in a company you are financially enabling the harm they do. Maybe you should also be somewhat legally liable for the harm they do too