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Comment by parasense | Hacker News Reader

> Fines are up to 10% of global revenue for the first offense, and 20% for repeat offenses.

For Alphabet (Google) the revenue distribution from 2015 to 2021 was approximately 33% for all of Europe, Middle-east, and Africa. It's unclear to me the actual European numbers since they are combined EMEA.

For Apple in 2021 the revenue was approximately 23% for Europe (no middle-east or Africa).

For Facebook in 2021 the revenue was also approximately 23% for Europe (no middle-east or Africa).

So it's safe to say that a first offense would potential halve the revenue for the region, and a second offense would remove the financial rationale of doing business in the region.

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The EU regulations are often quickly adopted in other market places in similar fashions. Leaving the EU might be a calculation worth, but leaving the rest of the world is often prohibitive.

Do not forget here: These are countries which existed hundred of years before FAANG and will exist hundreds of years after FAANG. They have to protect themselves as a society but also as a constitutional body. If you let the monopolies go their way, their own constitutional existence is in doubt (example: these companies have already gigantic control on aspects which are governed by law hate speech, nudity, etc or are normative in the society). Long rambling, short reply: Other countries will quickly adopt these laws to keep long-term relevant.

> example: these companies have already gigantic control on aspects which are governed by law hate speech, nudity, etc or are normative in the society

Yep. Its amazing how the rest of the world tolerated being moderated on the Internet per - mainly American - foreign laws and even cultural norms up until this point.

Fines are "UP TO" 10% / 20% of global revenue. I doubt actual fines are going to be that high.

Also, it has to be global revenue, because otherwise they would just use funny accounting tricks to hide their revenue (they already do that).

in tomorrow's news: "Apple, Google and Facebook in joint venture to the moon"

What would the money even be used for? Why does the government have to profit from enforcing this.

I’d be fine if we take the money and burn it but it’s not gonna be that is it it’s gonna be we take the money and funnel it into organizations that politicians children happen to be on the boards of.

Deflationary fines are a hilarious idea. If you don't comply, we'll take 10% the value of your company and publicly set fire to it, enriching all consumers in the process

IIRC fines by EU agencies go into the EU budget reducing the member states contributions for the next year

Great, if Alphabet, Facebook and Apple leave the EU, it will be a painful few years but finally boost the EU tech sector. It's what China did: Prohibit external services to force local innovation.

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