Big Tech Just Got Fined Billions

A couple of hours ago here in Europe it was announced that Apple has been fined 500 million euros (about 830 million Australian dollars) and Meta fined 200 million euros (around 330 million AUD) by the European Union.

https://www.wsj.com/tech/apple-meta-fined-by-eu-ordered-to-comply-with-tech-competition-rules-9063b7e6

At first glance, that sounds like justice catching up with Big Tech. But let’s put it in perspective.

Last year, Apple made over 150 billion AUD in profit. Meta made more than 60 billion AUD. These fines? They’re a speed bump. A slap on the wrist dressed up like a crackdown.

But here’s why this still matters.

Apple got fined for blocking people from using cheaper or alternative app stores, essentially forcing users to stay inside their walled garden. Meta got hit for giving users a fake choice, either let us track you across the internet or pay for privacy.

The law behind these fines is new. It’s called the Digital Markets Act, and it’s Europe’s attempt to stop tech giants from stacking the deck. It’s about breaking the habits of monopoly. About giving smaller companies a chance. And, importantly, about protecting everyday people from being manipulated by default.

No, these fines won’t change Apple or Meta overnight. But it’s the first time we’ve seen real consequences with real numbers. And it sends a signal that the rules of the digital world shouldn’t be written only by those who profit most from breaking them. For too long, Big Tech has acted like it’s above the law.....because, frankly, it has been. But this is the first real sign that regulators are ready to push back.

It’s not perfect.

These fines won’t hurt companies like Apple or Meta.

But it’s a crack in the wall.

And when you’re raising kids in a digital world built by billionaires, cracks in that wall matter.

They’re a start.