alt Hacker NewsAgain this is not priced in. Every rational(in terms of revenue) business would rather be a highly profitable "amateur" compared to a barely profitable "professional".
There is no capitalist incentive for the latter, and you will lose market share to firms that can undercut you because of their lower costs.
Replies
josephg • yesterday at 10:06 PM
> There is no capitalist incentive for the latter
This is literally the point of data breach laws like this. To provide a financial incentive to take this stuff seriously.
4% of revenue in the EU, 4% of revenue in the UK, and 10% of revenue in Korea should be enough of an incentive to start caring about how you deal with your customer’s privacy and personal data.
One assumes the rest of the world won’t be far behind, apart from the the corrupt land of the USA which is going backwards right now.