alt Hacker NewsIs the $8B profit or revenue?
To your point, $16M is surely not a big fine for such a big company though, but I do think it's important not conflate profit and revenue when evaluating fines.
Generally speaking, I would love to see some much harsher penalties for negligence with data. I want companies to start seeing customer data as a liability, not as an asset, and I don't think that will happen until f**k-ups starts really making a dent in the bank account.
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> Is the $8B profit or revenue?
Profit, their revenue is almost 80 billion. Fines like this should be certainly based on revenue rather than profit, though (like the EU does it)
It’s $8.3B in net income (so profit) - see slide 4 in this PDF: https://s29.q4cdn.com/310188824/files/doc_financials/2023/ar...
I still think the C-suite won't care unless the cleanup/penalty costs get pulled directly from their bonus before anywhere else. Otherwise it will just be "oops, I tanked this business, better luck at the next one."