EU Hits Google With $3.5 Billion Antitrust Fine

Comments

• Goodlucksil@lemmy.dbzer0.com ⁨3⁩ ⁨weeks⁩ ago

  Missing one or two zeros, but could be agood start if it is actually done

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  • huquad@lemmy.ml ⁨3⁩ ⁨weeks⁩ ago

    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.

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• kreskin@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  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.

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  • kameecoding@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    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.

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    • localhorst@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

      Oh no, how will they ever be able to afford the 4 bn fine if they don’t comply

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    • A_norny_mousse@feddit.org ⁨3⁩ ⁨weeks⁩ ago

      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.

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  • ExLisper@lemmy.curiana.net ⁨3⁩ ⁨weeks⁩ ago

    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.

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    • kreskin@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

      googles EMEA division is 29% of profits. So figure about 30k profits.

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  • A_norny_mousse@feddit.org ⁨3⁩ ⁨weeks⁩ ago

    Holy crap. I thought you must have that wrong, probably meant revenue, but no, it really is Alphabet’s net profit according to DDG.

    This in itself is enough reason that this company must die. Not that the EU will ever achieve that.

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• mechoman444@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  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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  • masterofn001@lemmy.ca ⁨3⁩ ⁨weeks⁩ ago

    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.

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    • mechoman444@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

      Agreed.

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• ExLisper@lemmy.curiana.net ⁨3⁩ ⁨weeks⁩ ago

  That’s unexpected. Are they realizing that rolling over for Trump doesn’t lead anywhere?

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• Montreal_Metro@lemmy.ca ⁨3⁩ ⁨weeks⁩ ago

  Good.

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• phutatorius@lemmy.zip ⁨3⁩ ⁨weeks⁩ ago

  Cue more Trump tariff-bullying.

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• axEl7fB5@lemmy.cafe ⁨3⁩ ⁨weeks⁩ ago

  I’ve commented this multiple times but that fine is nothing for them. proton.me/tech-fines-tracker

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• goatinspace@feddit.org ⁨3⁩ ⁨weeks⁩ ago

  [deleted]

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  • goatinspace@feddit.org ⁨3⁩ ⁨weeks⁩ ago

    Image

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