Big Tech has already made enough money in 2024 to pay all its 2023 fines
Big Tech has already made enough money in 2024 to pay all its 2023 fines
Big Tech (Alphabet, Amazon, Apple, Meta, and Microsoft)'s annual revenue dwarfs total fines. The cost for privacy is insignificant to them.
- This is advertising. It's not the most worst example, but it's still fundamentally an ad.
- Revenue is absolutely the wrong metric to use. If you had $100 of revenue and $99 in costs, you have only $1 left to pay your fines. Amazon did not earn enough to pay its fines in 1 hour and 50 minutes because most of that that money was used to buy and deliver the products, plus various other expenses. The blog post is misstating the numbers by over an order of magnitude for some of the companies. If you're going to do it, do it right at least. The profit numbers are just as easy to come by as revenue.
Oh no, with Amazon only having a 3,5 % margin (after fines), it would take them all of 48 hours to make up the losses.
The point still stands: the fines are ridiculously low for these companies, and they have no incentive to change based on current fines.
The fines are part of their outgoing expenses, though, so at least some of that $99 in your example is going to pay these very fines
Most of that money was used to buy and deliver the product
Correction, most of that money was used to pay for a shareholders 9th yacht. Shareholders take a huge majority of money
These companies are terrible at being responsible.