Arrr, a week into 2024, Big Tech be swimming in enough doubloons to settle all 'em fines from 2023!
2024-01-12
Arrgh! Proton, a Swiss privacy matey, be sayin' that we need to make some changes to properly challenge them scurvy Big Tech monopolies! But until then, here be what ye can do, me hearties!
In the year 2023, there were several significant events in the tech industry. Generative AI became more popular, Twitter changed its name, and big tech companies were fined heavily for data abuses under GDPR. Unfortunately, these fines proved to be ineffective in deterring the tech giants from further abuses.Proton, a Swiss privacy firm, reported that within a week of 2024, companies like Meta, Google, Apple, and Microsoft had earned enough to pay off all the fines from the previous year. The fines, though seemingly large, were insignificant compared to the revenues these companies were generating. This lack of financial impact essentially gave tech giants the green light to continue abusing user data.
Furthermore, it is common for these companies to appeal the fines or refuse to pay, delaying repayment for years. This situation is detrimental to consumers, resulting in higher prices, less choice, and no privacy.
In order for real change to happen, two main things need to occur. Governments must issue fines that have a true financial effect, such as fines up to 20% of global revenues. Additionally, regulators need to combine these fines with practical measures, such as enforcing behavioral and structural changes.
While the EU has made progress with the introduction of the Digital Market Act, more needs to be done to protect online privacy. It is essential for individuals to make conscious choices and consider switching to privacy-first alternatives offered by smaller companies like Proton, Signal, and Mullvad browser.