Missing one or two zeros, but could be agood start if it is actually done
And that’s a big if. All these companies just appeal and get a fraction of the original penalty. Company death penalty needs to exist along with prison time for C-suite and board. Otherwise, this is just the price of doing business.
googles net profit is 115 billion/year. So while 3.5 is inconvenient, I imagine google feels that its just the cost of doing business in the EU.
Sure you can be cynical about it, but you could also read beyond the headline
Beyond the monetary fine, the European Commission is ordering Google to restructure parts of its adtech business. Specifically, Google must:
-
End self-preferencing practices — meaning it cannot give undue advantage to its own services.
-
Address conflicts of interest within its advertising supply chain.
-
Ensure fair competition by opening its ecosystem more effectively to rivals.
Oh no, how will they ever be able to afford the 4 bn fine if they don’t comply
wouldn’t they need to pay until it’s done? Looks like they found a way for them to pay a little bit of taxes
I believe it when I see it
-
That’s not how it works. Questions is how much more money they made by breaking this specific rules. If breaking the rules allowed to increase the profits by more then 3.5B then the fine is too small. If, for example, they made only $1B extra by breaking those rules then they effectively lost $2.5B and will stop breaking them.
googles EMEA division is 29% of profits. So figure about 30B profits.
Yes but if they stop breaking the rules those profit will not fall to $0.
3.5 billion.
This isn’t a fine. This is just a windfall for the EU. The price of doing business.
If they really wanted to hurt Google they’d demand a percentage of their quarterly profits. Say 10%. That would really make Google nervous.
10% of gross revenue would be better.
Profits can always be turned to “losses” with clever accounting and shell corps (see Hollywood accounting)
And net values can always be offset by deductions and other costs.
You can’t fuck with gross.
Agreed.
That’s unexpected. Are they realizing that rolling over for Trump doesn’t lead anywhere?
Good.
Cue more Trump tariff-bullying.
I’ve commented this multiple times but that fine is nothing for them. https://proton.me/tech-fines-tracker
