4 ms·
1% of their market cap. I don't think we'll see someone with a net worth of $100,000 paying only a $1000 fine for harming children.
by asf1254 2mo ago
1% of their market cap. I don't think we'll see someone with a net worth of $100,000 paying only a $1000 fine for harming children.
- deleted 2mo ago[deleted]
- iamacyborg 2mo agoIf the handling of the Epstein files in the US is anything to go by, they’d get away scot free.
- ben_w 2mo agoMarket cap is generally the wrong measure. If you registered asf1254 Inc., and it was always just you, and it traded like Meta stocks trade, then "asf1254 Inc." would have a market cap ~6.2× whatever you're currently earning. i.e., if you earn $100k/year, you'd be "worth" $620k, and 1% of that would be a fine of $6200.
- cryptonym 2mo agoYou may earn 100k/y and have 10M real estate + 2M in bank. Why would you dumb down market cap to earnings? Anyway, 6K for harming children at that scale remains ridiculous.
- ben_w 2mo ago> Why would you dumb down market cap to earnings? The point is "Market cap is BS". > Anyway, 6K for harming children at that scale remains ridiculous. One person managing to harm children at this scale would likely get a penalty much smaller than $16 bn. Of course even "20-life" is a penalty much smaller than $16 bn, given the average American's lifetime earnings are around the $3m level, i.e. it would take 5000 mean lifetimes to repay the actual fine in the headline. It's nonsensical to scale down a %-of-wealth fee to one person without also considering that the offence would likely be smaller, and also as an independent consideration how difficult it would be for one person to commit the acts.
- dbbk 2mo agoMarket cap isn't real money
- micromacrofoot 2mo agoit's funny how it's real money when it's useful and fake money when it's not
- kingleopold 2mo agowell that is Schrödinger's finance for you, they decide whether to say its fake or real based on their own benefit.
- ben_w 2mo agoThe sibling comment, talking about Schrödinger, is correct for the wrong reason. The share price is essentially always fake, because the ticker price of any given symbol is in a superposition of all possible values until it gets traded. The bigger the trade you try to make, the bigger the shift you directly cause to the value while you're attempting to make the trade.
- cryptonym 2mo agoMoney isn't real, yet that's how we size a lot of things.
- triceratops 2mo agoThen they may as well pay out 10% of the stock.
- ben_w 2mo agoWhat % of META (shares) are owned by Meta Platforms Inc.? Don't get me wrong, I'm happy for e.g. Zuckerberg personally to be ordered to hand over all his shares as any given penalty, but as stated what you describe sounds like a way to avoid paying a penalty.
- 2mo ago
- Wololooo 2mo agoYou are absolutely right, they would commit fraud on an unprecedented level and get away with hundreds of millions!