As long as they exclude publically traded companies where there isn't a single controlling party this sounds like a good idea. Scary for those that like to ignore laws, but good for everyone else.
this post was submitted on 18 Oct 2024
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There's extensive case law in the EU about this. The interesting part in the case of Musk's companies is that they would be pretty much shielded from X's fines if he hadn't used Space X's and Tesla's resources and personnel while trying to fix things on X/Twitter.
This is why it makes sense for specifically private companies that are solo owned. It's not uncommon that resources get shifted from one to the other as they are often treated as personal not corporate assets.
Yeah so the kind of thing that will maybe happen in EU but no damn way in the U.S.A.
USA has been stepping up their enforcement the last few years, but they got their hands tied after Supreme Court overturned Chevron. So you're probably right.
The U.S.A. is - and has for a time been - a corporation owned by the small group of wealthiest in the country. Its shareholders are billionaires and the board of directors are those most powerful politicians with ties to billionaires.
The U.S.A. will never inflict justice on its own people, how else besides rampant mass criminal activity are those small groups supposed to rule the world?
Make fines be percentage of income not fixed number. 0.01% of yearly income is not a fine that's cost of running the business.
Already is under DSA. It's up to 6% of global annual revenue.