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EU regulator slaps TikTok with $368m fine for violating privacy laws
(www.aljazeera.com)
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this post was submitted on 15 Sep 2023
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$368m is chump change for them.
If the punishment for a crime is a fine that means it's legal if you have enough cash
But did they make that much in this specific breach because if they didn't then it is a decent punishment. I get what you're saying but being worth billions and being fined millions doesn't automatically make it pointless, that breach may have profited them 200 million is which case they just lost 168 million by doing it and won't do it again because it wasn't worth it.
Purely economically speaking that is true, but that's not the only relevant thing here.
Remember it's the Chinese Government essentially harvesting massive ammounts of data. A price well worth it, if you use it later down the line in propaganda efforts, marketing strategies and "spotting potential dissidents".
A more apt punishment would be forcing then to delete the data, prevent future harvesting or massively increase the fine to offset potential political gains.