“Deletion of data and a possible fine.” Oh no, how will the billion dollar company cope with a $2m fine that all goes to the corrupt government officials anyway.
To be fair, GDPR fines can go up to 2% of worldwide revenue. Meta was hit by a $1.3G fine just this year, which for 2022 fiscal year ($116.6G) accounts for 1.1% of their revenue.
But yeah. Most fines are mostly just the cost of business for those billionaire companies, and the ones that may not be, the army of lawyers they pay a fortune to have on payroll to fight tooth and nail against them, that must logically be cheaper than what those fines really end up costing them, should give a hint.
“Deletion of data and a possible fine.” Oh no, how will the billion dollar company cope with a $2m fine that all goes to the corrupt government officials anyway.
Fine is just the warning. Noncompliance can get the company kicked out of France/EU.
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To be fair, GDPR fines can go up to 2% of worldwide revenue. Meta was hit by a $1.3G fine just this year, which for 2022 fiscal year ($116.6G) accounts for 1.1% of their revenue.
But yeah. Most fines are mostly just the cost of business for those billionaire companies, and the ones that may not be, the army of lawyers they pay a fortune to have on payroll to fight tooth and nail against them, that must logically be cheaper than what those fines really end up costing them, should give a hint.
2% of revenue is nothing
They’ll just cut 10% of workers out and the extra 8% goes to corporate bonuses
We’re talking 2% of revenue, not income, so just straight up pre-expense money-in. That Meta fine was literally 10% of their net income for 2022.