... when are the CMA going to forbid the merger then?
The UK's Competition and Markets Authority (CMA) has smacked Facebook with a £50m ($68.7m) fine for "deliberately" not giving it the full picture about its ongoing $400m acquisition of gif-slinger Giphy. The move – fingered by the CMA as a "major breach" – comes just weeks after the antisocial network dismissed the UK's …
Perhaps if the fine was a noticeable percentage of the parent companies turnover (in this case 10 to 100 times the fine) with failure to pay the fine (for any reason within 28 days, even disputing the fine) being an instruction to ISP's etc to balckhole their traffic until the issue is resolved, then these sorts of companies would pay attention.
I doubt £50m is more than a minor cost of doing business and a sizeable portion of the £50m would have been how much it would have cost to comply with the conditions in the first place
It seems all regulators have problems with fining multi-national corporations. It needs a bit of international cooperation. Perhaps the agreement on minimum corporation tax needs a rider to agree that fines should be set in terms of percentages of global annual turnover applied annually as long as the corporation is out of compliance. A corporation that's accumulated several fines of several percent each is going to start acting a bit more carefully, otherwise the shareholders and bonusocracy are going to start getting twitchy.
In the U.S., it's a common practice of failed companies to change their name in times of failure and hope that business will keep running as usual. The problems with this, though, as I see it, if they decided to call "sh*t" a "rose," the "rose" will still smell like "sh*t," so why bother?
How about Bacefook? Zucfook? Zucwhimp? Zucwuss?
Whatever it ends up being, it will always smell like a rose.
Facebook believes that it is the law - when I tried to sign up and create a Facebook account in 2007 it rejected my attempts so I called them to try and sort out the problem. I was told that Facebook would prosecute me if I tried to create an account again - I was using my real name but they told me that I was a faker tried to create a fake account because my family name was not a real name.
I was pissed off at the time but now I'm happy that social media rejected me.