Meta? Google? Microsoft? Anyone?
Meta? Google? Microsoft? Anyone?
You do the rest...
Since that fine was imposed, they used that private data to improve their algorithms with, amongst other things, AI technology designed to addict your children to Facebook Reels, which is like TikTok, but with a bigger budget for training and inference.
In that year, their market cap doubled from 600 billion to 1.2 trillion.
I'm sure that fine of 0.1% of their market cap -- that they haven't paid -- is discouraging them from earning the next trillion dollars using the same kind of data.
Source? I can't find any confirmation.
That's the point.
I did find a recent article saying that Facebook is dragging out the process in the courts, will appeal, etc...
The EU keeps counting chickens that haven't hatched yet.
The latter is a much less impressive list, which is why it isn't publicised.
I'll take back what I said if you can find that list, and there is even one billion dollars in it in total.
The Biggest GDPR Fines of 2023 Meta - €1.2 billion (Ireland) Meta - €390 million (Ireland) TikTok - €345 million (Ireland) Criteo - €40 million (France) TikTok - €14.5 million (UK) Axpo Italia Spa - €10 million (Italy) Tim S.p.A. - €7.6 million (Italy) WhatsApp - €5.5 million (Ireland)
Regulation is welcomed, have a read on the reports and the view of top ML scientists at the AI Summit in Seoul, South Korea.
https://en.wikipedia.org/wiki/GDPR_fines_and_notices
I don't see Microsoft in the list but the other big guys are all there.
Then big corporations have a legal basis for trade of such data where before GDPR it was a grey area. Now they can say - users have consented for us to slice, dice and sell all the data related to them.
GDPR was never about protection or to benefit citizens. One of the greatest deceptions.
> First there was a cookie law, to train people to give consent to anything that pops up without reading
People sitting in front of computers have been blindly clicking Yes to get work done for decades. I remember decades ago watching dumbfounded as people would click through Windows' orgasmic install dialogs (Yes, Yes, Yes, Finish) without ever reading or understanding what they were doing.GDPR was never about these pop-ups. It is about getting actual consent.
"By clicking on the button below, you consent with us and our 381 partners to do whatever the hell they want" may be legally acceptable in the US, but in the EU it isn't.
I know for a fact that lawyers and activists are currently challenging these patterns.
Using disclaimers to address GDPR is the short-term solution that was shaped by a US-led ad tech industry to address an EU law. I'd be surprised if 5 years from now these pop-ups are still the norm.
They were trained on benign cookie banners and GDPR consent popups look very much the same but are more consequential. Most people don't even understand the difference.
It's not a conspiracy. States never work for benefit of the general public, but for big corporations that "lobby" for the policies that suit them.