TL;DR
The EU’s fines against Apple and Meta, while substantial in euros, are mere symbolic gestures to these tech giants, unlikely to change their exploitative practices.
Story
Another day, another slap on the wrist. The EU fined Apple €500 million and Meta €200 million, supposedly for “breaking digital rules.” These fines, related to app distribution and data privacy respectively, are presented as victories for consumers. Don’t be fooled. It’s pocket change to these giants—a mere cost of doing business.
Think of it like a parking ticket for a billionaire. They’ll just pay it and keep parking illegally. Apple’s fine relates to their tight control over app distribution on iOS. They essentially force developers to use their App Store, taking a hefty cut of every sale.
Meta’s fine is about their shady data practices. Remember Cambridge Analytica? This is just another chapter in the ongoing saga of Facebook treating user data like a commodity.
‣ Cambridge Analytica: A scandal where Facebook user data was harvested without consent for political advertising.
These fines are supposed to deter these practices. They won’t. Like the 2008 financial crisis showed us, toothless regulation enables the very behavior it aims to prevent. Remember Enron?
‣ Enron: A major energy company that collapsed in 2001 due to widespread accounting fraud.
History repeats itself, this time with Big Tech calling the shots. What about the human impact? Your privacy? Your choices as a consumer? All secondary concerns in the pursuit of profit. These fines are performative, not punitive.
Advice
Don’t trust Big Tech’s promises of privacy or fair competition. They prioritize profit, period. Scrutinize their practices and demand real change, not just token fines.