Comment on "Tea cup" app - user database leaked today (incl. drivers license & IDs). Daily reminder not to give your ID to online services [THEY DO NOT PROTECT YOUR INFORMATION]
It’s at least a hefty fine in the EU - enough to kill a business.
The higher of €20m or 4% of global annual turnover.
Indeed, and the kicker is that 4% is on turnover, not profit. That can really hurt.
Thatsthepoint.jpg
Yeah it has to be that way otherwise all these venture capital funded businesses that never actually make a profit could just do whatever they want, and considering that’s basically every startup it would essentially neuter to the law.
ohulancutash@feddit.uk 3 days ago
The higher of €20m or 4% of global annual turnover.
zwerg@feddit.org 3 days ago
Indeed, and the kicker is that 4% is on turnover, not profit. That can really hurt.
spankmonkey@lemmy.world 3 days ago
Thatsthepoint.jpg
echodot@feddit.uk 2 days ago
Yeah it has to be that way otherwise all these venture capital funded businesses that never actually make a profit could just do whatever they want, and considering that’s basically every startup it would essentially neuter to the law.