If this was some random small company you could imagine that the regulators have bigger fish to fry, but in this case this is the #1 offender worldwide when it comes to privacy - if there are "fish to fry", this is the biggest fish, and the regulator's lack of serious action (such as the million-dollar fines everyone is fear-mongering about) suggests they're either incompetent or complicit.
Maybe suing your local privacy regulator in local court is the next step? Open Rights Group is taking that approach in the UK: https://www.openrightsgroup.org/press-releases/privacy-organ...
Another venue is to go directly after Facebooks European customers and make it illegal for any company to pay Facebook for ads targeting European customers.
In the end this would force Facebook to abandon Europe and lead to local competitors taking over that market weakening Facebooks network effects in non-US markets.
this is an escalation and delaying game and so far facebook is banking on some political saving grace that probably wont come as well privacy is considered an human rights by European courts and not something an simple short term political majority can simply erase because it's convenient for some US megacorp.
If the showdown happens in the highly independent German court system, i just don't see how American political pressure is going to stop the slow but steady path of escalating measures likely to be taken if Facebook refuses to comply with court rulings.
Why not, out of curiosity? We don't make this distinction for low-income folks who get parking tickets. If you don't make them truly punitive why comply? It just gets factored into the cost of doing business.
But fines and tickets being pegged to income is a good idea. Fixed amounts for fines are really expensive if you don’t make much money. Similarly, they aren’t much of a deterrent if they are a small amount of your income.
Facebook has a distinctly high profit ratio (2020 Facebook revenue was $85 billion, net income $29 billion), so 4% of revenue means a lot less to Facebook than other companies that GDPR restrains. 4% of their revenue is $3.4 billion which is 11% of their net income.
And the potential negative impact of Facebook's negligence in data handling is distinctly greater than other companies, Facebook collects far more data than most other companies and has access to far more personal data. They have somehow managed to convince a huge portion of the world's population to share a significant tap of data into their lives.
Ban it. It's the only way.