 Just beating my old drum: The fines involved could tip some of these companies into bankruptcy. That’s good. Corporations will behave very differently depending on whether they believe a sufficiently large privacy or security breach could be a company-ending event. 4 comments
@dalias I’m not sure how such a thing would work in practice, but I do agree that fines are usually insufficient in practice. That’s regulatory capture for you.   @inthehands I'm strongly and unapologetically of the opinion that corporate fines for highly serious issues should *often* be company-ending events. To use a different example of a space I believe this: getting hit with, say, a $2M anti-trust fine is a rounding error for a company like Meta or Google or Apple. Even $2B is a rounding error. But $200B? (which is a bit over double Apple's 2022 total profit) Cool, now those companies might fix their shit. |
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@inthehands Fines never seem effective at that. I just want an explicit corporate death penalty. You do bad enough things, all stock/ownership is nullified and anything of public benefit the company was doing is continued under a restructuring to be publicly owned. Anything purely harmful or superfluous just ceases.