I agree it should perhaps have started off a little higher, but the fine was set so the amount added would double for every day they didn’t comply.
day 1: $50,000
day 2: +$100,000 ($150,000 total)
day 3: +$200,000 ($350,000 total - this is what they paid)
day 4: +$400,000 ($750,000 total)
…
day 7: +$3,200,000 ($6,350,000 total)
day 14: +$409,600,000 ($819,150,000 total)
day 28: +$6.7 trillion ($13.4 trillion total)
The day 3 fine wasn’t all that bad for them, but it wasn’t a fine they could just eat if they delayed as long as they wanted. Definitely not a “cost of doing business” fine, that’s for sure.
Yes, the escalating fine is great and got compliance. I was commenting on the fact that since they eventually complied and paid a small fine, they won’t be charged with anything further even knowing the delay was intentional.
They were already fined a pittance, so the chances of escalating are basically zero.
I agree it should perhaps have started off a little higher, but the fine was set so the amount added would double for every day they didn’t comply.
The day 3 fine wasn’t all that bad for them, but it wasn’t a fine they could just eat if they delayed as long as they wanted. Definitely not a “cost of doing business” fine, that’s for sure.
It is a cost of business fine at $350k.
Yes, the escalating fine is great and got compliance. I was commenting on the fact that since they eventually complied and paid a small fine, they won’t be charged with anything further even knowing the delay was intentional.
For a normal functional company, yeah, it would be nothing.
But Twitter has never made money, now owes billions in loan payments, already let a bunch of staff go, and stopped paying rent on buildings…
And not paying this on time (which they might legitimately not have the funds) can result in a lot more money or even criminal charges.