Let’s do some logic. You’re an evil multitrillion dollar company that makes billions in profits by breaking the law. But, by doing so, you’ll be fined 12 million dollars, of which you’ll contest and get reduced to 7 million. Barely a blip on the monthly revenue stream.
I wonder why they keep ignoring (breaking) the laws.
It has always astounded me that penalties to companies are almost always either a tiny fraction or the ill-gotten gains, or at most the total amount of the ill-gotten gains.
I’m like NO! How about TEN TIMES the ill-gotten gains? Or literally some amount which is so much it’s going to hurt the company. Like 25-50% of the value of the whole company?
And if that sounds like it’s too much because the company would have trouble surviving, THAT’S THE POINT!
Should get one warning fine and if they fail to abide by that the entire company gets parted out to a bunch of smaller entities and their software gets changed to FOSS.
Yeah, these ineffective fines need to stop. perhaps the following would work better:
1st offense: warning, public humiliation, reparations to the wronged.
2nd offense: meaningfully huge fine
3rd offense: even bigger fine and c-level prosecutions.
4th offense: stop work order and c-level prosecutions and personal liability.
5th offense: public tar and feathering.
Let’s do some logic. You’re an evil multitrillion dollar company that makes billions in profits by breaking the law. But, by doing so, you’ll be fined 12 million dollars, of which you’ll contest and get reduced to 7 million. Barely a blip on the monthly revenue stream.
I wonder why they keep ignoring (breaking) the laws.
It has always astounded me that penalties to companies are almost always either a tiny fraction or the ill-gotten gains, or at most the total amount of the ill-gotten gains.
I’m like NO! How about TEN TIMES the ill-gotten gains? Or literally some amount which is so much it’s going to hurt the company. Like 25-50% of the value of the whole company?
And if that sounds like it’s too much because the company would have trouble surviving, THAT’S THE POINT!
And then they get to KEEP the ill-gotten gains! What bank robber ever gets to keep the cash for when they get out?
Should get one warning fine and if they fail to abide by that the entire company gets parted out to a bunch of smaller entities and their software gets changed to FOSS.
This is a huge thing I am hoping Europe does. To vastly ramp up humungous fines
I’d vote for that 100%
Absolutely right. It’s not a law for them, it’s a fine.
Doesn’t even amount to the taxes they paid the month the fine was issued. It’s barely the cost of doing business.
Yeah, these ineffective fines need to stop. perhaps the following would work better:
1st offense: warning, public humiliation, reparations to the wronged. 2nd offense: meaningfully huge fine 3rd offense: even bigger fine and c-level prosecutions. 4th offense: stop work order and c-level prosecutions and personal liability. 5th offense: public tar and feathering.
Counter:
First intentional offense: permanent stop work order and c-level prosecutions and personal liability.
First unintentional offense: meaningfully huge fine, equal to no less than 25% of annual revenue.
Second intentional offense: won’t happen, due to the first intentional offense permanent stop order.
Second unintentional offense: permanent stop work order and c-level prosecutions and personal liability.
The only way to fix this is to make it hurt from day one.