On the surface, the European Union's (EU) plan to hit tech magnate Google with a historic fine seems like a great way to send a strong message. After all, $5.1 billion in penalties is nothing to scoff at, right?
"It's like a delivery company having to pay for a parking ticket."
As the above words (quoted from a recent article by Jack Nicas of The New York Times) help explain, the fact of the matter is that while regulators under EU Commissioner for Competition Margrethe Vestager may have swung for the fences with a fine the likes of which have never been seen before, it appears that Google will most likely shrug off this most recent penalty and continue on with its potentially monopolistic practices in the digital world.
In his post for The New York Times, Nicas notes that Google's parent company Alphabet had not only already absorbed the fine into its bookkeeping and made $3.2 billion in profit in the last quarter, it also saw the company's overall stock valuation rise by 3.5 percent in the wake of the major announcement.
To put it all in plain terms, if a $5.1 billion fine isn't meaningful enough in the context of the size of the organization to give the company pause or to deter Google from forcing Android device creators to unwillingly push its Search and Chrome products, what is stopping this digital leader from leveraging similar tactics within its more profitable ventures, like the company's various advertising services that your dealership surely utilizes in its efforts to connect with interested customers?
Want to learn more about the fallout - or lack thereof - of the latest fine levied by the EU against Google? Then be sure to dig into the full scoop from Nicas and The New York Times editorial team by clicking on the link provided below.