Meta slapped with record $1.3 billion fine over EU-US data transfers

Fair enough. EU citizens have the right to be subject to their laws, not the US's. That includes data.

sflagel said:

Fair enough. EU citizens have the right to be subject to their laws, not the US's. That includes data.

You’re 100 percent right, but that fine needs at least an extra zero on it before Zuck will pay any attention to it. Meta made $5.7B profit in *the most recent quarter*, so a $1.3B fine every year or two will likely be seen as the cost of doing business.

Both the US and EU regulatory agencies need to start fining companies a hefty percentage of their *annual* revenue for ongoing violations. Once you start messing with a company’s profits, shareholders will put pressure on the execs to follow the law.

These regulations and their tyrannical enforcement look like they are for you, the EU citizen. 

Calamander said:

These regulations and their tyrannical enforcement look like they are for you, the EU citizen. 

But actually, they're against you - they're just the government adding more tools to its tool belt to issue fines and bring corporations in line. 

It's a power grab, all done under the disguise of serving the people. 

The corrupt, unelected government of the EU only acts to perpetuate its own power. 

Of course when they strike against Meta, everyone cheers - but when it turns out we can't have small independent businesses anymore because these government bureaucrats can use the law against any of them any time, we realize that this was always created to centralize power, to give more power to government, and to also - ironically - give the internet giants more power. 

Facebook has 100M to fight this in the courts and another 100M to settle, or even more. No problem! 

But small startups can be permanently shut down by these laws, and that's why they were in reality created in the first place. 

The laws are there to protect our data. They are applicable universally and there is a site (can't remember where now) that keeps a running list of sanctions.

These mega-fines grab the attention but that list is full of private individuals too who have been fined 40€ or 100€ etc for different infractions.

It's a very complex situation but the EU approach, while 'strict' to a point, is also considered to be a very good shield for EU users and a model for other stabs at data protection around the world. 

Meta will supposedly Appeal but if they haven't complied they will not get off the hook. If they persist and prefer to pay fines, it is very likely that legislation will be designed to deal with those cases specifically. 

What we can't have is companies that think they can flout data protection legislation and get away with it. 

Calamander said:

These regulations and their tyrannical enforcement look like they are for you, the EU citizen. 

But actually, they're against you - they're just the government adding more tools to its tool belt to issue fines and bring corporations in line. 

It's a power grab, all done under the disguise of serving the people. 

The corrupt, unelected government of the EU only acts to perpetuate its own power. 

Of course when they strike against Meta, everyone cheers - but when it turns out we can't have small independent businesses anymore because these government bureaucrats can use the law against any of them any time, we realize that this was always created to centralize power, to give more power to government, and to also - ironically - give the internet giants more power. 

Facebook has 100M to fight this in the courts and another 100M to settle, or even more. No problem! 

But small startups can be permanently shut down by these laws, and that's why they were in reality created in the first place. 

Utter nonsense.