sqgl@sh.itjust.works to Technology@lemmy.worldEnglish · 3 days agoInstagram and Facebook are breaking the EU’s illegal content ruleswww.theverge.comexternal-linkmessage-square7fedilinkarrow-up1280arrow-down12file-text
arrow-up1278arrow-down1external-linkInstagram and Facebook are breaking the EU’s illegal content ruleswww.theverge.comsqgl@sh.itjust.works to Technology@lemmy.worldEnglish · 3 days agomessage-square7fedilinkfile-text
minus-squareFauxLiving@lemmy.worldlinkfedilinkEnglisharrow-up41·2 days agoIt’s six percent of revenue, not 6% of profit. Meta’s net profit margin is around 40%, so the fine would be around 15% of their yearly profits. That’s not insignificant. On top of the fine for being in violation, they can be fined 5% of their daily profits every day until they’re in compliance.
It’s six percent of revenue, not 6% of profit.
Meta’s net profit margin is around 40%, so the fine would be around 15% of their yearly profits. That’s not insignificant.
On top of the fine for being in violation, they can be fined 5% of their daily profits every day until they’re in compliance.