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[-] Drunemeton@lemmy.world 43 points 21 hours ago

“Breaches can result in fines of up to 6% of their global annual sales.“

Well…since they don’t sell anything, and where exactly they’re getting their money from is an outstanding question, I’m sure once they get to 45 million users in the block they’ll be happy to pay 6% of zero.

[-] mosiacmango@lemm.ee 37 points 21 hours ago* (last edited 8 hours ago)

Dont sell anything, yet. I'm sure they will a start selling things sooner or later, seeing as it's not a charity, and its platform is expensive to run.

That 6% is the gross of sales, not ~~revenues~~ profit as well. It can work out to a company's entire profit margin. Its an incredibly serious fine you dont want trained on you at any point.

[-] djsp@lemmy.world 15 points 17 hours ago* (last edited 6 hours ago)

That 6% is the gross of sales, not revenues as well.

I think you mean "that's 6% of revenue, not profit". Revenue is gross income before expenses and other tax deductions. Sales is revenue generated by selling products and services, as opposed to interest and investment proceeds. Profit is revenue minus expenses and tax deductions and is where corporations often cheat.

[-] Virkkunen@fedia.io 5 points 18 hours ago

They have already stated they'll do a premium subscription

[-] joelghill@lemmy.ml 10 points 20 hours ago

They actually sell a service where you can buy a domain name and have it set as your username.

this post was submitted on 28 Nov 2024
234 points (97.6% liked)

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