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::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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[–] [email protected] 36 points 1 year ago (1 children)

Failure to comply with the European regulations around illegal content could result in fines worth 6% of a company’s annual revenue.

“I remind you that following the opening of a potential investigation and a finding of non-compliance, penalties can be imposed,” Breton wrote.

The second might be just talk but the first one is very much “something”.

[–] [email protected] 17 points 1 year ago* (last edited 1 year ago) (3 children)

Since Twitter lost $20 billion in value this year, he would argue that means the EU owes Twitter $1.2 billion.

Edit: Yes, revenue vs profit. I get it. It was a joke.

[–] [email protected] 22 points 1 year ago

Revenue. Doesn't matter what they're worth.

[–] [email protected] 18 points 1 year ago (1 children)

Revenue, not profit.

In other words - Twitter would lose even more money. And they'd lose it to people that can take it straight from their bank accounts. 6% of it, to start with.

So $0.48 of every blue checkmark would go straight to the EU.

[–] [email protected] 6 points 1 year ago

And, IIRC the penalty is based on last years or accounting periods data, i.e, from times where they still earned money.

[–] [email protected] 4 points 1 year ago (1 children)

Since Twitter lost $20 billion in value this year, he would argue that means the EU owes Twitter $1.2 billion.

Edit: Yes, revenue vs profit. I get it. It was a joke.

Wouldn't surprise me if that was Elon's "strategy" here.

[–] [email protected] 1 points 1 year ago

That’s pretty much the joke I was going for, but I guess I should’ve been more obvious……