this post was submitted on 17 Oct 2024
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As much as I hate musk, I don't think this is correct, or even legal..?
He's free to leave the EU at anytime. They are allowed to create appropriate punishments to deter further misuse. They are saying here that they need to be able to punish more to deter him, as he's an asshole who says fuck you to everyone.
legality i don't know, but guess who has an infinite supply of lawyers? Musk was able to secure loans for his Twitter misadventure based on all his other shit. Everything he does is entangled with his other stuff. The Hyperloop? lies.
Corporations do this regularly. Using funds from one branch of their business to prop up others. That's neither new or illegal in the EU.
While I have no idea about legality, it is quite obvious that X/Twitter is not really run as a company run as a public communications platform, but rather as a fever dream of Musk.
Especially the Eli Lily Co. disaster should've been a wake up call for X of how much harm the fake checkmarks can bring, yet nothing was done. Most likely because Elon Musk didn't care. He basically runs it like it's how little service that he fully owns and controls with full disregard to anything but his own vision.
Therefore including his other businesses makes sense, as the fine that is only based on X's income would probably be negligible in his opinion, as he runs it on a loss anyways. Only bigger fines would actually have any effect in my opinion.
I still can't believe nothing substantive came of that.
It was incredibly harmful to the reputation and stock value of multiple pharmaceutical companies as well as Twitter. And then the greedy pharma assholes had to publicly announce they were still price-gauging people for life-sustaining medicine, making the reputational damage even worse.
That very much reads like "the ends justifies the means" logic. If a fine isn't likely to change behavior, they should just block the platform.
Wven better, do like brazil; block and fine
Who cares about legal if it hurts republicans?