Google Fined 2.95-billion-euro ($3.45 billion) by EU Over Ad-Tech Business
Google Fined 2.95-billion-euro ($3.45 billion) by EU Over Ad-Tech Business
Commission fines Google €2.95 billion over abusive practices in online advertising technology
cross-posted from: https://programming.dev/post/36929877
Google abused its power by favouring its own online display advertising technology services to the detriment of its competitors, online advertisers and publishers.
As a result of Google's illegal practices, advertisers faced higher marketing costs which they likely passed on to European consumers in the form of higher prices for products and services. Google's tactics also reduced revenues for publishers, which may have led to lower service quality and higher subscription costs for consumers.
Google's abusive behaviour therefore had a negative impact on all European citizens in their day-to-day use of the web.
This is illegal under EU competition rules and therefore our decision orders Google to pay a fine of €2.95 billion.
In line with our usual practice, we increased Google's fine since this is the third time Google breaks the rules of the game. But a mere fine in this case is not enough to deliver real and tangible solutions for the market and to protect our consumers.
This is why we have also ordered Google to stop its illegal practices and to put an end to its inherent conflict of interests in the Adtech industry.
Google has 60 days to inform the Commission on how it plans to do so, and if it fails to propose a viable plan, the Commission will not hesitate to impose an appropriate remedy.
At this stage, it appears that the only way for Google to end its conflict of interest effectively is with a structural remedy, such as selling some part of its Adtech business.
Holy shit, the quote is wild!
EU is smoking Google, rightfully so. Third time they get a fine for this, so now its gloves off.
The fine is 0.1% of Google's net worth. Fuck all.
Yes, they know. It’s right in the OP:
They were not just fined. They were fined and given a warning that, because it was the third time, the next move is to enforce the rules with a court order. Which can include things like preventing them from operating in the EU, seizure of assets, and personal consequences for the decision makers (seizure of assets, criminal charges, etc).
Now let's make them sell off AdSense.
That or something like it is literally part of the EU demand. Google has to pay the fine and tell them their next step to ending their conflicts of interest in 60 days.