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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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If that is Net Revenue, I have some bad news for the EU. 🤣🤣🤣
I think you're thinking of profits, which is revenue minus costs.
EU fines are a percentage of global revenue, which means all the money you make in any way, anywhere in the world, before subtracting any bullshit.
Which was $4.4 billion in 2022 and is estimated to be roughly $3 billion for 2023, so the maximum fine would be 180-264 million depending on which figure is used.
For comparison, the net loss (not profit) for 2022 for twitter was 270 million.
Per occasion, and the Commission can also create a moderation enforcement team specifically for Twitter, basically forcing Twitter to have moderation, and put the cost of said moderation on Twitter, as charges separate to the fine.
Think your stats are off? You can see a post in my history with more EU focused math. If yours is better let me know and I'll update ;)
Oh shit, that’s awesome!!
Isn't EU fines turnover, which is revenue plus cost?
The "brilliance" of Elon's plan: he is impervious to EU fines because he doesn't make any money.
He makes a lot ofmoney - he just loses more.
If that is gross revenue, I have bad news for the EU. "X" is, IIRC, operating in the red since Musk bought it.
It's revenue, not profit. "X, formerly Twitter" still gets paid by advertisers, even if the amount is much lower than it used to be.
Ah. Alright, fair enough, thanks for correcting my mistake.