for context, that’s 0.04% of the profits Amazon earned in France alone (€9B) in 2022.
Which if my math is correct, at an average US household income of $75k that is equivalent to a whopping $30.
As always, when the fine is less than the extra profits earned by breaking the law that’s just the cost of doing business. Until these fines are like 10x+ the extra profits earned this is going to be the normal.
I’ve always advocated for fines to be assessed as a percentage of global annual revenue.
“Oh, your global revenue was $100B? That will be $1b please.”
EU takes 10% of the profits if rules like GDPR and other Digital acts are breached.
But only at the first offence. The second time they take 20%.
The fines need to be large enough to upset the shareholders if they are going to have any effect.
I’d say that the board members also have to have some personal liability (criminal of course, but also limited financial liability and a temporary or permanent ban on serving on any board or executive (legally responsible) position, depending on circumstances. Incentives must be aligned, and not something that they can justify as a cost of doing business.
Oh no, however will Amazon recover from having to pay the equivalent of checks notes a cinema ticket?
They already put ads on Prime Video now and charge $2.99 a month to remove them. Expect it to be higher in a few months if they have to pay this.
$35 million
Très petit
It’s France and the EU on one side, American business practice on the other.
I don’t want to start a political drama but… What’s the French or EU equivalent and why isn’t it as popular? Or is it? I honestly don’t know but keep asking the question why is Amazon (or Google for that matter) so dominant in their markets even outside the US?
They’ll have made that back several times over in the time it took them to send them the fee
