this post was submitted on 11 Oct 2023
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Europe gives Elon Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X (www.cnbc.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Europe gives Elon Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X::Thierry Breton, the European commissioner for the internal market, warns Elon Musk about disinformation on X related to the Israel-Hamas conflict.

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[โ€“] fmstrat@lemmy.nowsci.com 39 points 1 year ago (1 children)

$2bn in 2022 for non-US. https://www.businessofapps.com/data/twitter-statistics/

Assume 80% of that is Europe, and a 25% drop in revenue since X, is $1.2bn, then 6% is $72m. This would likely be a daily fine of about $197K per day USD, minus shifty billionaire revenue reporting.

[โ€“] barsoap@lemm.ee 22 points 1 year ago

It's 6% of world-wide turnover, not EU revenue. The neat part about turnover is that you can't play shenanigans with accounting. It's very unlikely to be the full 6% though and they will want to keep some headroom for escalation and even more egregious cases.

But yes this is absolutely "drive a company bankrupt" kind of territory and that's precisely the intention. Either Twitter shapes up, leaves the EU market, or gets fined into non-existence.