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Musk given 24 hours to address graphic images of Hamas attacks
(www.politico.eu)
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this post was submitted on 11 Oct 2023
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Or else what? Small fine? You'll never see him.
Did you even read the text post? 6% of revenue, because some places have reasonable laws that charge percentages of revenue.
I read it. I was asking a rhetorical question. 6% of X revenue is not 6% of elon revenue, fwiw. Impact is still limited.
They don't have the legal right to take money directly from Musk as nice as that would be.
Of course impact is going to be limited. The alternative being unlimited? I don't think Musk deserves most of his wealth, but for the penelty of something like this to be taking literally all of it away would be insane. It's always going to be limited. That's basically what laws do. They should be proportional.
The alternative? What alternative?
My only point here is this isn't going to have any major impact on his day to day operations regardless of how you try to spin my comments. Not sure why this is such an argument for you.
6% of revenue is apparently 300 million. IRC last year, twitter had 1.2 billion in interest payments, but only 1.1 billion in cash flow. Unless twitter has suddenly increased cash flow or repaid loans, a 300 million dollar fine may mean it's impossible for twitter to repay interest payments. It's potentially an existential threat and could tip twitter into bankrupcy.
It's not nothing and it's certainly better than nothing. And that 6%? That's just the tip of the shit berg.
For example, Germany NetzDG fines can be as high as 50 million euros... PER CASE. Tech Crunch:
Obviously Musk is a top tier genius with a full legal department, and I'm sure twitter clamped down on illegal hate speech in the past half year so that only 600 cases are reported to German authorities, but that 300 million may just be the trickle of shit before the pipe fully bursts.
In Musk's defense:
The alternative to them being limited is unlimited. There's no in between for those words. It's either limited or it isn't and is unlimited.
I get wanting more, but what percentage is "right" for you. There has to be a percent that's acceptable, and anyone can always say it isn't enough, unless it's unlimited which would be rediculous.
Mind... blown
Well, it's revenue not profit, so theoretically it could be money out of his pocket that the social media platform formerly known as Twitter perhaps wouldn't be able to pay by itself.