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.
kameecoding@lemmy.world
on 06 Sep 09:42
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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.
A_norny_mousse@feddit.org
on 06 Sep 11:10
nextcollapse
Yet at the same time Alphabet products are being used everywhere in often critical infrastructure.
I really wish the EU would do more about their pretty promises of strengthening their own.
localhorst@sh.itjust.works
on 06 Sep 11:13
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Oh no, how will they ever be able to afford the 4 bn fine if they don’t comply
whyNotSquirrel@sh.itjust.works
on 06 Sep 13:07
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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
localhorst@sh.itjust.works
on 06 Sep 15:25
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I believe it when I see it
ExLisper@lemmy.curiana.net
on 06 Sep 10:23
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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.
ExLisper@lemmy.curiana.net
on 06 Sep 10:47
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Yes but if they stop breaking the rules those profit will not fall to $0.
A_norny_mousse@feddit.org
on 06 Sep 11:08
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Holy crap. I thought you must have that wrong, probably meant revenue, but no, it really is Alphabet’s net profit according to DDG (100 Billion in 2024 and rising).
This in itself is enough reason that this company must die. Not that the EU will ever achieve that, but this could be a step to big G losing its monopoly in Europe.
ExLisper@lemmy.curiana.net
on 06 Sep 10:24
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That’s unexpected. Are they realizing that rolling over for Trump doesn’t lead anywhere?
mechoman444@lemmy.world
on 06 Sep 13:10
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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.
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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
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.
Yet at the same time Alphabet products are being used everywhere in often critical infrastructure.
I really wish the EU would do more about their pretty promises of strengthening their own.
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.
Holy crap. I thought you must have that wrong, probably meant revenue, but no, it really is Alphabet’s net profit according to DDG (100 Billion in 2024 and rising).
This in itself is enough reason that this company must die. Not that the EU will ever achieve that, but this could be a step to big G losing its monopoly in Europe.
That’s unexpected. Are they realizing that rolling over for Trump doesn’t lead anywhere?
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.
Good.
I’ve commented this multiple times but that fine is nothing for them. proton.me/tech-fines-tracker
Cue more Trump tariff-bullying.