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Big Tech generated billions in fines but didn't pay them (m.economictimes.com)

submitted 10 months ago by 520@kbin.social to c/technology@lemmy.world

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Ireland's data regulator confirmed to AFP that Meta has not paid any of the ₹2 billion ($2.2 billion) in fines issued since last September. TikTok also owes hundreds of millions.

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[–] JohnDClay@sh.itjust.works 6 points 10 months ago (1 children)

Hmm, with some lawsuits going years and years, seems like postponing decisions could save a lot because of the time value of money. Maybe one could make a law to account for a standard opportunity cost per industry to increase the fine amount from the date committed to the date paid.

[–] kirklennon@kbin.social 3 points 10 months ago

Hmm, with some lawsuits going years and years, seems like postponing decisions could save a lot because of the time value of money.

The specifics vary depending on exactly what is owed to whom and why, but in many of these cases the amount owed is subject to interest if, ultimately, it must be paid, or the money has actually already been provided but is held in escrow.