Ewen Bell 📸5d ago
Just thinking about better ways to penalize corporations that break the law.

Fines are trivial and never keep pace with reality. Instead, what if companies had to give back a chunk of shares to the government? Issuing new shares that dilute existing shareholder value, and making the govt part owners. Effectively, nationalize the company in degrees with every breach of trust.
Show threadMrAndrewD5d ago

@ewen Fines based on a percentage of global turnover?

Global is important, as we see a lot of service based companies charge through foreign entities to reduce tax.

Turnover is important (vs profit), because can't have companies make a loss in the year that the fine hits - especially if they get fined in multiple countries in the same year.

I also like jailing CEOs and boards, because that scares the bejesus out of them - more so than losing money.

Show thread⁂iwein⁂
@MrAndrewD @ewen GDPR violation is at max 4% turnover iirc. It exists already.
Jun 15 at 6:29amWeb