We really need to mandate serious fines for companies that violate trust regulations, like 20% of the estimated annual profits (based on the previous five years) or 5% of the company’s valuation. You know, the way a traffic ticket is about a week’s pay.
If their contempt of law is recurring or particularly egregious, nationalize the fucker.
Companies should just be charged the fine multiplied by the number of offenses (like any individual being charged), then multiplied by the number of employees. Any amount over their available cash, becomes asset seizure (for “too critical to fail” companies) or make them go through bankruptcy to liquidate. Hell, you can even be nice and let them do a “payment plan” over a year or two, seizing all profit until the fine is paid in full. I bet companies would follow laws remarkably well if that were on the line.
The US would just be a couple Facebook privacy violations away from running a governmental surplus for the first time in decades!
It’s crazy that this isn’t being properly implemented (probably easier to say and talk about, but stil) because really hefty fines are the only way to stop companies from bullshitting their literal customers.
If there is one thing we know, than it is that companies will not stop at hurting people, the environment or fucking over their customers if it means they make a good profit off of it and can get away with it.
It’s literally a simple calculation for them, nothing more. Literally kill an entire ecosystem and risk poisoning tens of thousands or hundreds of thousands of humans? No problem, as long as it pays off.
We really need to mandate serious fines for companies that violate trust regulations, like 20% of the estimated annual profits (based on the previous five years) or 5% of the company’s valuation. You know, the way a traffic ticket is about a week’s pay.
If their contempt of law is recurring or particularly egregious, nationalize the fucker.
Companies should just be charged the fine multiplied by the number of offenses (like any individual being charged), then multiplied by the number of employees. Any amount over their available cash, becomes asset seizure (for “too critical to fail” companies) or make them go through bankruptcy to liquidate. Hell, you can even be nice and let them do a “payment plan” over a year or two, seizing all profit until the fine is paid in full. I bet companies would follow laws remarkably well if that were on the line.
The US would just be a couple Facebook privacy violations away from running a governmental surplus for the first time in decades!
It’s crazy that this isn’t being properly implemented (probably easier to say and talk about, but stil) because really hefty fines are the only way to stop companies from bullshitting their literal customers.
If there is one thing we know, than it is that companies will not stop at hurting people, the environment or fucking over their customers if it means they make a good profit off of it and can get away with it. It’s literally a simple calculation for them, nothing more. Literally kill an entire ecosystem and risk poisoning tens of thousands or hundreds of thousands of humans? No problem, as long as it pays off.
Ceo’s in orange jumpsuits.