4% of the global revenue is not 4% of profits. In a lot of sectors, this can actually destroy a company.
GM has 10B profits for 170B revenue so we are talking about 70% of their annual profit. Not enough to destroy the company but certainly not small for a single violation on a subset of their customers. For tech companies however, 4% is less threatening.
As I understand it, we are talking about 4% per country of the EU, which in many cases can destroy profits made in a country for years and can certainly wipe any profit made from selling that data.
GM has 10B profits for 170B revenue so we are talking about 70% of their annual profit. Not enough to destroy the company but certainly not small for a single violation on a subset of their customers. For tech companies however, 4% is less threatening.
As I understand it, we are talking about 4% per country of the EU, which in many cases can destroy profits made in a country for years and can certainly wipe any profit made from selling that data.