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.”
EU may “make an example of X” by issuing $1 billion fine to Musk’s social network
Submitted 3 weeks ago by ForgottenFlux@lemmy.world to technology@lemmy.world
Comments
dragonfucker@lemmy.nz 2 weeks ago
Lost_My_Mind@lemmy.world 3 weeks ago
Oh noooooo 1 billion dollars…such a heavy fine…
Make it 60 billion.
surewhynotlem@lemmy.world 3 weeks ago
This. Fines should be percentage of wealth. Otherwise they’re just a sticker price on breaking the law.
sugar_in_your_tea@sh.itjust.works 2 weeks ago
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.
Mubelotix@jlai.lu 2 weeks ago
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
IGuessThisIsMyName@lemmy.world 2 weeks ago
This would be a fine against X though right rather than Elon himself? Surely the company wouldn’t have that kind of cash available and would need to take drastic action to raise that amount.
Lost_My_Mind@lemmy.world 2 weeks ago
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…
fyzzlefry@retrolemmy.com 3 weeks ago
It’s a good start
mPony@lemmy.world 2 weeks ago
Get back to me when they spell Billion with a T
UprisingVoltage@feddit.it 2 weeks ago
Tillion? Tbillion? BillionT?
!/s!<
SaharaMaleikuhm@feddit.org 2 weeks ago
I believe it when they actually do it
vxx@lemmy.world 2 weeks ago
Theyve find meta for 800 million in the past.
There’s a reason there’s so much anti EU sentiment on social media.
merdaverse@lemmy.world 2 weeks ago
It’s never enough. Companies that make this much money just write it off as the cost of doing business.
oxysis@lemm.ee 3 weeks ago
So a slap on the wrist? A significant one sure but just ban them if you want to be serious and make an example out of them
mannycalavera@feddit.uk 3 weeks ago
but just ban them if you want to be serious
But if you ban them you can’t continue to fine them…
oxysis@lemm.ee 3 weeks ago
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
Klear@sh.itjust.works 3 weeks ago
…
Fine.
kautau@lemmy.world 3 weeks ago
Well then do either one instead of just loudly proclaiming you might do something
Bleys@lemmy.world 3 weeks ago
Why stop at 1
muntedcrocodile@lemm.ee 2 weeks ago
What have they done to earn that fine?
FiskFisk33@startrek.website 2 weeks ago
more details from last summer
Mubelotix@jlai.lu 2 weeks ago
Also interferes with our elections, which might get them banned completely
muntedcrocodile@lemm.ee 2 weeks ago
I don’t agree with the first one but the other 2 seem reasonable.
Little8Lost@lemmy.world 3 weeks ago
I hope that after the fine goes into action he loses more investors further deminishing his wealth
does not matter to me if the actual fine is lower when in the end he pays a higher price. (but big numbers are nice so: go europe)
SinningStromgald@lemmy.world 3 weeks ago
Add some more zero’s EU.
wieson@feddit.org 2 weeks ago
Hopefully it’s a European billion (million, milliarde, billion, billiarde etc) so 10^9
skitazd@lemm.ee 3 weeks ago
Just ban the thing
FelixCress@lemmy.world 3 weeks ago
Good. Go ahead.
resipsaloquitur@lemm.ee 3 weeks ago
Oh no don’t make papa Elon cry.
200ok@lemmy.world 3 weeks ago
don juan grabbed the wrong pussy
singletona@lemmy.world 3 weeks ago
Don’t talk about doing the thing and do the thing.
FiskFisk33@startrek.website 2 weeks ago
in a democracy the latter has to be preceded by the former.
singletona@lemmy.world 2 weeks ago
Forgive me for being jaded and bitter about the opposition party being nothing BUT ineffectual talk.
orwellianlocksmith@lemmy.world 2 weeks ago
The talking happened when the law was being promulgated. Now it’s in effect, and so time for action.