More like an ATM. Need some money? Let an American tech company operate with no issue for years and then one day "whoa we checked and you've been violating <some vaguely-defined law about privacy> for years. Who knew? That'll be five billion Euros please."
If anything, the EU has been slow to act, these companies have been operating against all possible antitrust laws for years and continue to do so despite being fined, probably the fine isn't large enough.
>That'll be five billion Euros please."
feel free to pull out of the market, if you dislike the rules. Google pulled out of China for instance.
That's literally what is happening here. It's a shakedown. Nothing more.
That's one way to see it, if you squint hard enough.
As I see it, a company unlawfully gained billions by breaking the law while doing business in our jurisdiction.
There's nothing "vaguely defined" about european privacy laws. Google just chose to ignore them best they could, and thought they'd get away with it because they're so big.
The fact that it took years to build a solid case against their myriad of corporate lawyer weasels isn't the gotcha you think it is.