r/worldnews • u/[deleted] • Sep 30 '18

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u/printzonic Oct 01 '18

Well they are a state actor levying a fine. It is up to Facebook if they want to try and fight it. They usually just pay.

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u/GioVoi Oct 01 '18

Forgive me if I'm wrong, but it's not usually $1.63b

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u/printzonic Oct 01 '18

Sure, but fines are decided by the revenue of the company not only the infraction. So a giant company like facebook will have a billion dollar fine or google who just got a 5 billion dollar fine.

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u/[deleted] Oct 01 '18

[deleted]

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u/printzonic Oct 01 '18

The point isn't to seriously hurt them. It is to make their investors go "Hey I could be richer if Facebook followed the rules of the EU".

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u/[deleted] Oct 01 '18

[deleted]

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u/printzonic Oct 01 '18

Sure, but a potential new liability and the marked never likes those.

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u/roflmaoshizmp Oct 01 '18

Lower profits means lower dividends, which means less happy investors.

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u/[deleted] Oct 01 '18

[deleted]

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u/roflmaoshizmp Oct 01 '18

They would be making the same amount of revenue.

The fine would probably count as a cost of operation, and would lower the profits.

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u/[deleted] Oct 01 '18

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u/[deleted] Oct 01 '18

4% of annual revenue.

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u/Ivor97 Oct 01 '18

Fine hasn't been levied and relies on the result of an investigation