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.
Time to ban Twitter and call it a day.
Boy I hope the EU does something besides sit around with its dick in their hands.
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”.
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.
Revenue. Doesn’t matter what they’re worth.
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.
And, IIRC the penalty is based on last years or accounting periods data, i.e, from times where they still earned money.
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.
That’s pretty much the joke I was going for, but I guess I should’ve been more obvious……
What about the country where those megacorps are living?
I hope they have the PR for when he misses the deadline already written up so they can just hit “Publish” when he fails to respond.
He doesn’t have time for that, after all he’s the busiest man on the planet and earns his billions every day.
Which is why his Diablo 4 Druid is level 100. Lol.
If your going to bash him, don’t do it for him playing computer games.
…there are plenty of proper reasons!
That’s not the point. The point is that oligarchs always go on about how hard they work, which makes them somehow deserve all the wealth they’ve swindled us out of. But if you work so hard, you won’t have time to sink endless hours into a game.
Why would he not pay somebody to play?
He’s still playing that shitty game?
Why do you know what level he has in some game? Why are people so obsessed with Elon in general? Ignore that clown.
He’s one of the wealthiest people in the world
Little note: he doesn’t earn billions every day
oh, so sorry
Any updates on the situation? The 24h period must be done by now.
I have the same question. I hope the reply is published.
Failure to comply with the European regulations around illegal content could result in fines worth 6% of a company’s annual revenue.
I guess joke’s on the EU…
Because they aren’t making much money? Considering this isn’t based on profit but revenue, that’s a pretty significant fine
“Thierry Breton, the European commissioner for the internal market, said in a letter addressed to Musk on Tuesday that his office has “indications” that groups are spreading misinformation and “violent and terrorist” content on X, and urged the billionaire to respond within a 24-hour period.”
Sounds like it’s just a strongly worded letter.
A bit below that it says that they’re also threatening fines of 6% of annual revenue.
Are they gonna give Twitter more money then? /s
$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.
EU revenue fines are generally calculated by global revenue cause companies always try to shift the money to other countries.
Assume 80% of that is Europe, and a 25% drop in revenue since X
What’s the basis for assuming a 25%? Instead of, let’s say, 90%?
Ah so that’s why he’s tanking it
You have to have revenue in order to be fined 6% of it.
6% of zero is zero.
Am I missing something? I said revenue not profit. Or is the joke that Twitter isn’t making any money anymore?
I sometimes feel like the only person that remembers that DSA exists. It went into effect in August.
The saudis might give him money to mitigate fines. I’m sure that’s not beyond him to continue with a misinformation campaign if the price is right.
Well, more money for the EU and less for the Saudis wouldn’t be a bad outcome either.
Europe gives Elon Musk 24 hours to respond
So kinda like… a Final Countdown?
Nevermind fining Twitter. Elon will see it as a badge of honour and Trumpspin.
What the EU needs to do is block access to the website outright across its member states.
Ah yes! Censor the internet! That’s the solution!
We tried not censoring the internet and it hasn’t worked
If it makes you feel better, think of it as Europe defederating from Twitter
Whoever chooses which sites get banned from the internet has a whole load of power. They could feasibly, in time, become corrupt and end up banning threats to corporate monopolies, like the Fediverse.
So instead we allow known, unelected bad actors like Musk free reign, to protect us from hypothetical elected future bad actors?
They will become corrupt over time. Power and money yield corruption. Always.
Exactly. So I wouldn’t trust anyone with the power to dictate which websites you can visit and which you can’t
Ya and ban all forms of protest against apartheid.
That’s the EU and it would be the US too if we didn’t have the first amendment
$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.
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.
Ok, it’s been 24 hours, anyone have an update?
He’ll fuck this up. I look forward to reading the EU’s chastising later today.
Let’s go Lonnie (you stupid piece of shit), Let’s go!
I’m having real hard time trying to understand what kind of “misinformation and violence” is spreading on twitter, that isn’t on other social media platforms such as right here. I wonder what even counts as “misinformation” at this point, as you can make quite outrageous but factual claims about both sides (Israeli government and hamas)
This is the most confusing conflict I’ve ever paid any significant attention to, and it feels like the more I learn, the less I understand.
I would argue a major difference between misinformation on some place like Lemmy and misinformation on Twitter, is that Musk as owner of Twitter is amplifying this misinformation. Elon Musk frequently replies to people spreading misinfo and shouts out their accounts.
What if it was some other celebrity with similarly large following doing that on some other platform?
I don’t quite buy that explanation. Basically the same thing is happening elsewhere too but instead of it being done by a single individual it’s done by many. The end result is just the same.
We’re talking stuff like footage for other wars, cgi, even stuff from video games
Or else what, exactly? Until someone actually holds his feet.to the fire, the idiocy will continue.
