I agree it should perhaps have started off a little higher, but the fine was set so the amount added would double for every day they didn’t comply.
day 1: $50,000
day 2: +$100,000 ($150,000 total)
day 3: +$200,000 ($350,000 total - this is what they paid)
day 4: +$400,000 ($750,000 total)
…
day 7: +$3,200,000 ($6,350,000 total)
day 14: +$409,600,000 ($819,150,000 total)
day 28: +$6.7 trillion ($13.4 trillion total)
The day 3 fine wasn’t all that bad for them, but it wasn’t a fine they could just eat if they delayed as long as they wanted. Definitely not a “cost of doing business” fine, that’s for sure.
Yes, the escalating fine is great and got compliance. I was commenting on the fact that since they eventually complied and paid a small fine, they won’t be charged with anything further even knowing the delay was intentional.
Can they get Twitter, too? Obstruction of justice or messing with evidence or something like that?
They were already fined a pittance, so the chances of escalating are basically zero.
I agree it should perhaps have started off a little higher, but the fine was set so the amount added would double for every day they didn’t comply.
The day 3 fine wasn’t all that bad for them, but it wasn’t a fine they could just eat if they delayed as long as they wanted. Definitely not a “cost of doing business” fine, that’s for sure.
It is a cost of business fine at $350k.
Yes, the escalating fine is great and got compliance. I was commenting on the fact that since they eventually complied and paid a small fine, they won’t be charged with anything further even knowing the delay was intentional.
For a normal functional company, yeah, it would be nothing.
But Twitter has never made money, now owes billions in loan payments, already let a bunch of staff go, and stopped paying rent on buildings…
And not paying this on time (which they might legitimately not have the funds) can result in a lot more money or even criminal charges.
If they wanted to, yes.