• France fines Google nearly $57 million for violating GDPR
    16 replies, posted
https://www.washingtonpost.com/world/europe/france-fines-google-nearly-57-million-for-first-major-violation-of-new-european-privacy-regime/2019/01/21/89e7ee08-1d8f-11e9-a759-2b8541bbbe20_story.html
Should've added another zero to that number.
That's just pocket change.
They probably make more money ignoring every law, anyway.
Not for 1 country.
Yeah, google can tank any fine it gets. You'd have to ban them from doing business, and even then they'd still ignore it.
Oh look, here I am once again, crunching numbers to show just how insignificant this fine is https://money.cnn.com/2018/02/01/technology/google-earnings/index.html According to this article, Google made $110 bn in fiscal year 2017. The final, formal numbers for 2018 aren't released yet, since we're so early into 2019, so we'll roll with the 2017 data. 57 million is 0.052% of 110 billion. Not 1%. Not even a tenth of one percent. But just a hear over a twentieth of a percent. Adjusted to an individual scale, for someone who makes $60,000 a year, this fine would be equivalent to $31.10. If I were I take myself and two friends to go see Spider-Man: Into the Spider-Verse at my local theatre, those tickets would cost me more than this fine would. https://files.facepunch.com/forum/upload/107272/bb2d1d82-0598-4dc1-a6e5-febe1d2696cd/image.png As I always implore, let that sink in for a moment. This fine is to Google as 3 tickets to see a movie is to a layperson. And as I always end these posts, we need to reform our corporate fines to actually be percentage points of corporate revenue, if we actually want them to be a deterrent. As of right now, they are just simple posturing.
I don't wanna hijack the thread but what the fuck, when did movies get so expensive in this country?
Apparently they can go for a bigger sum still, over 4.7 bn.
It honestly depends on where you live. Movie tickets near where I live are like 9.50 for the matinee. 11 for the regular price.
Probably when less people went to see them but budgets get bigger.
revenue != net income their income was only 12.66b so it'd be the equivilant of $270 for someone who makes 60k a year still sucks but your scales are off
If you want to go that route, then you're going to have to also adjust the individual's analogue to be after all expenses are paid, rent and groceries and such. Which then puts the numbers right back where they were before. Or, I suspect, even more thrown off.
$57 mil is a small amount, but I assume it is proportional to the perceived damage dealt to the French people. But remember, this sets a precedent for other EU countries. If France gets it's due, so might every other EU nation. So with a napkin math, 67mil people in france is equal to 57 mil in damages... 512mil people in the EU should be equal to about... 435.58mil in damages. Jesus Christ its still not nearly enough, is it.
France isn't fining them the full amount of what they can under GDPR laws, they can demand a fuckload more as €50m isn't even close to 2 or 4% of Google's global turn over. Although the €50 million fine seems large, it’s small compared to the maximum limits allowed by GDPR, which allows a company to be fined a maximum of four percent of its annual global turnover for more serious offences. For Google, which made $33.74 billion in the last quarter alone, that could result in a fine in the billions of dollars.
I think with 'new' laws like these it's kind of hard to punish a company severely for something that only 'just' came into effect. As such, these fines exist as warnings to not only the company being fined, but other companies; the precedent has been set, and next time won't be so forgiving.
There was a 2 year grace period to comply, they should conform to the regulations as soon as it was over.
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