StreetLend.com shuts down, citing GDPR regulations

Re:StreetLend.com shuts down, citing GDPR regulations by mcbits on Monday April 30, 2018 @12:20AM (#16955697)

> Why does the court even have the option to completely destroy a startup like that?

Supposing 100% of the startup's revenue comes from GDPR violations and they've been doing so for, say, 5 years, then the fine should really be 500% of annual revenue. Or even multiply that by 2 or 3 for punitive purposes. It may or may not destroy the startup, depending on how well funded they are. They could be breaching privacy for reasons other than revenue.

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Re:StreetLend.com shuts down, citing GDPR regulations by pgeorgi on Monday April 30, 2018 @08:21AM (#16957930)

> Or even multiply that by 2 or 3 for punitive purposes

The only place and time where the concept of punitive damages and GDPR overlap is the United Kingdom between May 25, 2018 and March 29, 2019.

[edit: and Ireland. They might want to reconsider, given that they host many of the European HQs of US companies.]

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Re:StreetLend.com shuts down, citing GDPR regulations by bronson on Monday April 30, 2018 @12:48AM (#16955819)

So why doesn't this apply to larger companies?

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Re:StreetLend.com shuts down, citing GDPR regulations by mcbits on Monday April 30, 2018 @01:00AM (#16955880)

I'm not disputing that it's biased in favor of larger companies.

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