$1.74 trillion company for reference if anyone wants to do the math on their total net worth vs their settlement.
this post was submitted on 16 Sep 2023
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Fuck me. If it was 10,000 that payout would be the equivalent of .53 cents. Wow.
Cost of doing business!
That ratio doesn't matter.
What matters is the value derived from some prohibited activity relative to the fine/lawsuits resulting from that activity.
Let's say that Company A sells oranges, and uses some pesticide that isn't approved, and gets a fine for it.
Let's say that Company B sells apples, and improperly claimed that the apples were fresher than they were to grocery stores and is sued for that.
Let's say that Company A and Company B merge and form Company C. The value of Company C would be larger, but it would make no sense for either of the above two disincentives to be larger. Being part of Company C doesn't make engaging in bad behavior more-desirable than it does for when A and B were separate, and so the disincentives one establishes for bad behavior shouldn't grow either.
My friend, this takes Google from being valued at $1.74 trillion down to $1.74 trillion. At that scale, there is no impact. It's not even a rounding error.
Let's say company C pooled their resources to pay for lawyers that could reduce the penalty to a profitable level, but A and B couldn't individually.
The ratio does matter. The fine is supposed to be a punishment/disincentive, but when that disincentive is less than trivial it no longer disincentivizes. Like a crime punishable by a $250 fine--the working class will follow the law because that's three days' but the rich won't care because it's a glass of wine at a decent restaurant. Google will simply pay the fine with no reason or intent to stop the questionable behavior because they'll just pay the trivial fine again when they get caught--just like they've been doing for years...
Who gets that money?
The lawyers, usually.
As a Google investor this is good news. That ain't SHIT.
that's why use a phone with Calyx OS.