Originally published at: Twitter's problem with Germany's anti-Nazi laws in a nutshell | Boing Boing
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Really getting tired of Elon’s crypto fascism~
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Let me FTFY:
“Really getting tired of Elon’s crypto, fascism”.
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Damn, I had seen people claiming they were facing billions in fines, and I’m very disappointed that the actual fines are going to be so negligible as to be a cost of business that Elno will ignore (though 50 million euro per violation might add up, assuming he ever even is fined). Oh well, the company is fatally draining money all on its own, so a big fine only would have hastened its demise.
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’ Twitter has a problem with Germany’s anti-Nazi laws’
Of course they do. I wish this company would hurry up and finally go round the U-bend of history.
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The fine, however, is €50 million–pocket money for the world’s second-richest man–and reports say each application would be its own lengthy investigation.
It has been widely reported on for years before he bought Twitter (and after the purchase) that Musk is not as cash-rich as other billionaires (most of his wealth is tied up in stock) so even a single 50 Million Euro fine could sting a lot.
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Can’t he just borrow against the stock for a mere €50m fine?
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I believe he has done that sort of loans for billions and billions already — €50m would not increase the amount too much.
I am not entirely aware on how Musk will pay back the loans. He will have a different approach to loans, debt and paying the loan, than to the “regular person on the street” (borrow money using stock as collateral to make investments, avoiding paying income tax as a investment gain is not income, and then pay the loan and interest back from the wealth generated?). Using a loan to pay a fine means a a debt with no investment wealth payback. Twitter is not likely going to make him wealthy — it looks like it will be the opposite.
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Sadly, Germany has a problem with that tech company’s failure to prevent hate propaganda on their service.
While I consider it rather unlikely that Germany’s prosecutors can actually hurt that company much, I am glad they try to uphold these laws.
Fascism must be fought, and it’s propaganda must be stopped.
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