News for hackers. Stuff that matters.

A comment on French search firm Qwant seeks €8M Huawei bailout loan. Parent comment

Re:French search firm Qwant seeks €8M Huawei bailout loan by bleuarff on Tuesday June 15, 2021 @10:02AM (#27515662)
France has invested a lot of money into this company. And it was approved to become the official search engine on many state administration's computers, even after an audit revealed the terrible quality of their product. Things are a bit shady around Qwant, and this is ground for all kind of suspicions (not that I'm endorsing any).
[ Parent | on HN ]
Re:French search firm Qwant seeks €8M Huawei bailout loan by gabaix on Tuesday June 15, 2021 @10:25AM (#27515969)
Neither 'diversion of public funds' (I believe you mean embezzlement) nor 'money laundering' would fit the description. This is more akin to 'poor use of public funds', which is also common in the US, and equally frown upon.
[ Parent | on HN ]
Re:French search firm Qwant seeks €8M Huawei bailout loan by eloisant on Tuesday June 15, 2021 @10:49AM (#27516329)
I think the term he's looking for is Embezzlement of Public Funds indeed.

It's not just "poor use of public funds", but illegal use of public funds. For example when a public institution picks a supplier in an illegal manner (i.e. picking a friend instead of respecting the process for a public contract, or using public funds for personal benefits).

[ Parent | on HN ]
Re:French search firm Qwant seeks €8M Huawei bailout loan by coliveira on Tuesday June 15, 2021 @11:23AM (#27516816)
You mean like when US government gives billions of dollars to bankrupt companies? Maybe the French are getting cues from Washington.
[ Parent | on HN ]
Re:French search firm Qwant seeks €8M Huawei bailout loan by natmaka on Wednesday June 16, 2021 @07:42AM (#27527380)
'Embezzlement' seems harsh, 'crony capitalism' (collusion between a business class and the political class) is IMHO the cause here.
[ Parent | on HN ]
Re:French search firm Qwant seeks €8M Huawei bailout loan by GordonS on Tuesday June 15, 2021 @10:24AM (#27515943)
That does not fit any definition of money laundering.

It sounds more like decisions are being made based on politics, presumably with an eye to the long-term improvement and viability of Qwant.

[ Parent | on HN ]