EU may “make an example of X” by issuing $1 billion fine to Musk’s social network
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European Union regulators are preparing major penalties against X, including a fine that could exceed $1 billion, according to a New York Times report yesterday.
The European Commission determined last year that Elon Musk's social network violated the Digital Services Act. Regulators are now in the process of determining what punishment to impose.
"The penalties are set to include a fine and demands for product changes," the NYT report said, attributing the information to "four people with knowledge of the plans." The penalty is expected to be issued this summer and would be the first one under the new EU law.
"European authorities have been weighing how large a fine to issue X as they consider the risks of further antagonizing [President] Trump amid wider trans-Atlantic disputes over trade, tariffs and the war in Ukraine," the NYT report said. "The fine could surpass $1 billion, one person said, as regulators seek to make an example of X to deter other companies from violating the law, the Digital Services Act."
I believe it when they actually do it
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European Union regulators are preparing major penalties against X, including a fine that could exceed $1 billion, according to a New York Times report yesterday.
The European Commission determined last year that Elon Musk's social network violated the Digital Services Act. Regulators are now in the process of determining what punishment to impose.
"The penalties are set to include a fine and demands for product changes," the NYT report said, attributing the information to "four people with knowledge of the plans." The penalty is expected to be issued this summer and would be the first one under the new EU law.
"European authorities have been weighing how large a fine to issue X as they consider the risks of further antagonizing [President] Trump amid wider trans-Atlantic disputes over trade, tariffs and the war in Ukraine," the NYT report said. "The fine could surpass $1 billion, one person said, as regulators seek to make an example of X to deter other companies from violating the law, the Digital Services Act."
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What have they done to earn that fine?
more details from last summer
https://ec.europa.eu/commission/presscorner/detail/en/ip_24_3761
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Don't talk about doing the thing and do the thing.
in a democracy the latter has to be preceded by the former.
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This. Fines should be percentage of wealth. Otherwise they're just a sticker price on breaking the law.
But $60B is more than Musk bought Twitter for, and there's no way it increased enough that $60B would be a reasonable percentage of income in any capacity.
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more details from last summer
https://ec.europa.eu/commission/presscorner/detail/en/ip_24_3761
Also interferes with our elections, which might get them banned completely
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This. Fines should be percentage of wealth. Otherwise they're just a sticker price on breaking the law.
Nice idea but the state wouldn't be able to know how much one owns. I am poor, but I have more hidden wealth than declared wealth
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If you want X and other American social media platforms to keep undermining your democracies then sure just fine them. But if you want to get serious then kick them to the fucking curb
But if you want to get serious then kick them to the fucking curb
Absolutely, but you have to think why the European Union hasn't done this to date? It's totally within their gift to say that Twitter is such a dog shit platform that tomorrow it will be blocked, no European company can do business with them. But they don't. Why is that?
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in a democracy the latter has to be preceded by the former.
Forgive me for being jaded and bitter about the opposition party being nothing BUT ineffectual talk.
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rubbing nipples
Oh, gosh! That sounds SO bad! Go on, tell us in explicit detail all the drastic measures that X would face. Tell us all the pain they would endure! Spare no detail.
rubs balls
Yeah.....yeah almost there....
I don't understand the downvotes for this, this was my thinking too.
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Get back to me when they spell Billion with a T
Tillion? Tbillion? BillionT?
!/s!<
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Add some more zero's EU.
Hopefully it's a European billion (million, milliarde, billion, billiarde etc) so 10^12
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more details from last summer
https://ec.europa.eu/commission/presscorner/detail/en/ip_24_3761
I don't agree with the first one but the other 2 seem reasonable.
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But if you want to get serious then kick them to the fucking curb
Absolutely, but you have to think why the European Union hasn't done this to date? It's totally within their gift to say that Twitter is such a dog shit platform that tomorrow it will be blocked, no European company can do business with them. But they don't. Why is that?
$huck$, I haven’t the $lighte$t notion a$ to why they wouldn’t have taken $uch action$.
It’$ a my$tery
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But $60B is more than Musk bought Twitter for, and there's no way it increased enough that $60B would be a reasonable percentage of income in any capacity.
I fully acknowledge your point and don't disagree. On the other hand, who ever said we have to treat Nazis reasonably?
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I believe it when they actually do it
Theyve find meta for 800 million in the past.
There's a reason there's so much anti EU sentiment on social media.
https://ec.europa.eu/commission/presscorner/detail/en/ip_24_5801
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I fully acknowledge your point and don't disagree. On the other hand, who ever said we have to treat Nazis reasonably?
Democracy and the rule of law. If you pick and choose groups to treat differently, that's authoritarianism. Don't fight authoritarianism with authoritarianism.
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in a democracy the latter has to be preceded by the former.
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Theyve find meta for 800 million in the past.
There's a reason there's so much anti EU sentiment on social media.
https://ec.europa.eu/commission/presscorner/detail/en/ip_24_5801
It's never enough. Companies that make this much money just write it off as the cost of doing business.
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The talking happened when the law was being promulgated. Now it's in effect, and so time for action.
yeah, only time will tell.
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