EU's 2024 Cash Grab: Fining Big Tech Beats Taxing Itself

Something wild happened last year. European regulators raked in about €3.8 billion by slapping fines on Apple, Meta, and Amazon. Here's the kicker—that's more than what the EU actually collected from taxing its own tech sector.

Think about it. Instead of building competitive alternatives or fostering innovation, they're basically running a toll booth on American companies. Sure, call it "regulation" if you want. But when your penalty revenue outpaces your domestic tax haul? That's not oversight. That's a business model.

The numbers don't lie. While Silicon Valley keeps writing checks to Brussels, European tech stays... well, where exactly?