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A jury found Facebook guilty of 43 million privacy violations, and Meta could owe billions
(www.techspot.com)
This is a most excellent place for technology news and articles.
And Meta can pay billions, continue doing business as usual, recoup the cost relatively quickly, and eventually become immensely profitable again.
At a certain scale, what you and I consider to be an enormous amount of money can become almost meaningless to a company like that. A multibillion-dollar fine may sound devastating to the average person, but if it represents only a small fraction of the company’s revenue or profits, it is little more than a cost of doing business.
If you actually want to hurt these companies and create a meaningful deterrent, the penalty has to be tied to their economic scale. Take a percentage of their profits or, in sufficiently serious cases, their revenue. Make the penalty large enough that the company genuinely feels the financial consequences of its behavior.
Otherwise, you aren't really punishing them. You're just irritating them.