Re: We don't need more regulation
There are some regulations but they are so vague and have such small teeth that it's less money to pay the fine than upgrade software across several server farms. If a multi-billion dollar company is fined one million which then gets reduced to five hundred thousand and a stern look, there is no motivation to overhaul anything (at a much higher cost).
There does need to be more specific regulations with better defined fines that will impact any company that must pay them. Obviously, a small company being fined 1 mil would put them straight out of business and a larger company would just have somebody in accounting cut a check without a backward glance or diminution of executive bonuses. Pain is one of the best teachers. If you were lucky enough to get spanked as a child for misbehaving, you may appreciate that concept. If there were never any consequences for acting up, nobody would ever learn right from wrong. Look at Elon Musk. He keeps yanking the tail of the Securities Exchange Commission like a squeaky toy and has been getting away with it for a while with just one paltry set of fines. $20 million dollars isn't all that much for somebody that buys 5 mansions in California at a time for much more. Maybe he would have bought a sixth. Take away his ability to be CEO for 5 years and receive no salary or payouts of any kind other than what any other stockholder would get and maybe he'll feel some pain.
Biting the hand that feeds IT
