Sanctions were applied after the social media platform delayed compliance with a federal search warrant that required Twitter to hand over Donald Trump’s Twitter data without telling the former president about the warrant for 180 days.
Sanctions were applied after the social media platform delayed compliance with a federal search warrant that required Twitter to hand over Donald Trump’s Twitter data without telling the former president about the warrant for 180 days.
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.
The fine would’ve hit $40 billion within a few weeks.
I think that would make his investment underwater
$350K might make it underwater?
$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
…
How is that not just standardized and know at the time of the ruling ?
Unlike the rest of the justice system.