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Twitter held in contempt, fined $350K over Trump data delay
(arstechnica.com)
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this post was submitted on 09 Aug 2023
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The purpose of a fine is to get compliance, not to punish. The fine was $50,000, doubling every day. So $350,00 dollars means Musk caved after 3 days. Pretty effective tactic by the court.
Powers of two don't fuck around.
Doing a data science degree right now. No. No they do not.
This pointless comment brought to you by poorly optimized flashbacks.
The fine would've hit $40 billion within a few weeks.
I think that would make his investment underwater
$350K might make it underwater?
OceanGate only charged $250k. He could've been underwater with $100k to spare.
$40 billion
Uhh, how does a 50k fine that doubles each day come out to 350k?
Day 1: 50,000. Day 2: 100,000. Day 3: 200,000. Day 4: 400,000...
We skipped right over 350...
I believe it is cumulative.
50k first day
PLUS 100k next day (running total 150k)
PLUS 200k next day (running total 350k)
The violation is committed every 24h. You do not get a bonus/discount for waiting out. It is added to your already amassed fine. The way you count would mean, that on day 5, they would get a ~50% discount in the fine (paying only 800K instead of the amassed 1.55M)
Day 1: 50K -> 50K = 50K locked in
Day 2: 100K -> 100K + 1st day 50K = 150K locked in
Day 3: 200K -> 200K + 2nd day 100K + 1st day 50K = 350K locked in
Day 4: 400K -> 400K + 3rd day 200K + 2nd day 100K + 1st day 50K = 750K locked in
Day 5: 800K -> 800K + 4th day 400K + 3rd day 200K + 2nd day 100K + 1st day 50K = 1.550.000K locked in
...
Day 6: 1.6M = 3.15M
Day 7: 3.2M = 6.35M
Day 8: 6.4M = 12.75M
Day 9: 12.8M = 25.55M
Day 10: 25.6M = 51.15M
Day 11: 51.2M = 102.35M
Day 12: 102.4M = 204.75M
Day 13: 204.8M = 409.55M
Day 14: 409.6M = 819.15M
Day 15: 819.2M = 1.638B
How is that not just standardized and know at the time of the ruling ?
Unlike the rest of the justice system.