Last year, Big Tech companies (Alphabet, Amazon, Apple, Meta, and Microsoft) received about $3.04 billion in fines for breaking laws on both sides of the Atlantic. As of seven days and three hours into 2024, they had already earned enough revenue to pay it all off.

A little over a week of operations is all it would take if the companies tackled their fines one after another. If they each paid their fines simultaneously, Meta would be the last to finish after five days and 13 hours.

This shows how insignificant these fines are for companies whose revenues are often larger than countries’ GDPs. In fact, 2023 was the second straight year these five companies were fined over $3 billion, showing that they view fines as nothing more than the cost of doing business.

This also assumes these companies act in good conscience and pay their fines promptly. Unfortunately, there’s no late payment penalty for Big Tech — and they often delay for years. It’s just another instance of Big Tech using its overwhelming revenue to bend or avoid the rules that govern the rest of us. Clearly, the current remedies for antitrust and privacy breaches are not having the desired effect.