Bluesky said it’s working to comply with European Union rules after the bloc accused the fast-growing social media platform of flouting its digital regulations.
  • Drunemeton@lemmy.worldEnglish
    39·
    21 days ago

    “Breaches can result in fines of up to 6% of their global annual sales.“

    Well…since they don’t sell anything, and where exactly they’re getting their money from is an outstanding question, I’m sure once they get to 45 million users in the block they’ll be happy to pay 6% of zero.

    • mosiacmango@lemm.eeEnglish
      35·
      21 days ago

      Dont sell anything, yet. I’m sure they will a start selling things sooner or later, seeing as it’s not a charity, and its platform is expensive to run.

      That 6% is the gross of sales, not revenues profit as well. It can work out to a company’s entire profit margin. Its an incredibly serious fine you dont want trained on you at any point.

      • David J. Shourabi Porcel@lemmy.worldEnglish
        17·
        21 days ago

        That 6% is the gross of sales, not revenues as well.

        I think you mean “that’s 6% of revenue, not profit”. Revenue is gross income before expenses and other tax deductions. Sales is revenue generated by selling products and services, as opposed to interest and investment proceeds. Profit is revenue minus expenses and tax deductions and is where corporations often cheat.