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Europe gives Elon Musk 24 hours to respond about Israel-Hamas war misinformation and violence on X (www.cnbc.com)
submitted 2 years ago by [M, B] to c/technology@lemmy.world
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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.

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[–] 63 points 2 years ago (5 children)

A bit below that it says that they're also threatening fines of 6% of annual revenue.

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  • [–] 48 points 2 years ago (2 children)

    Are they gonna give Twitter more money then? /s

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  • [–] 29 points 2 years ago (1 child)

    You're thinking of profit, not revenue

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  • [+] -6 points 2 years ago (1 child)

    Are we sure Twitter 𝕏's revenue is still in the positive? I don't think direct injections of capital count as revenue.

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  • [–] 8 points 2 years ago (2 children)

    $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.

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  • [+] -19 points 2 years ago (1 child)

    6% of zero is zero.

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  • [–] 45 points 2 years ago* (1 child)

    Am I missing something? I said revenue not profit. Or is the joke that Twitter isn't making any money anymore?

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  • [–] 0 points 2 years ago (1 child)

    I think it hardly ever was profitable and even revenue should be quite dropping since it became X

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  • [–] 9 points 2 years ago (1 child)

    6% of their revenue is probably still billions of dollars. Might even amount to the biggest fine ever.

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  • [–] 6 points 2 years ago (1 child)

    $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.

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  • [–] 6 points 2 years ago (1 child)

    Wow, that's MUCH less revenue than you'd expect from a worldwide behemoth like the shithole formerly known as Twitter!

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  • [–] 4 points 2 years ago

    And there you have the reason they sued to force Musk to stick to his word of buying it rather than let him off the hook and look for someone else dumb enough to pay that much for it.

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