Recently, Meta was fined $400MM for forcing users to consent to targeted advertising [0]. Note how Meta was careful to get consent (even if the way they did it was illegitimate). Sure, $400MM may not be a lot for a company that size, but I genuinely believe that the fines would be an order of magnitude higher if a company intentionally decided to do something with personal data without consent. GDPR fines may reach up to 4% of worldwide revenue, plus likely any proceeds from the illegitimate venture.
[0] https://www.cnbc.com/2023/01/04/meta-fined-more-than-400-mil...
1. A lot of the fines come from edge cases that are literally unclear in the law. Eg Facebook said that personalization was core to fb so can a user turn off a personalized feed, if gdpr says that you don’t need to offer opt-out for core features. You can disagree with fb’s decision but teams of lawyers couldn’t answer this question except in court. I think American and European jurisprudence aware also pretty different so someone sitting in California making business decisions might not understand the ramifications in Europe.
2. A lot of the thorny privacy bits can be bypassed if you update the TOS to mention it (or so they think). I’ve seen that happen a few times during my tenure.
That doesn’t excuse the choice of these companies to make these choices, but my point was to say that companies take it seriously but lawyers don’t always agree on how laws work except in court.