this post was submitted on 30 Mar 2024
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This is regulated. And there are penalties for violating those regulations. But it’s just not enough. Even a class action lawsuit won’t help the victims. Most of that money goes to lawyers.
Honestly, I don’t expect any of it to change until the penalties are so severe that major companies go under. Aka a corporate death penalty (which the US used to have). But even then, good software security is extremely hard. Almost everyone screws up something.
So corps would be regularly "executed" because of not getting it right at some point and that leading to such events.
What's bad about that?
Companies are market entities, they are supposed to live for some time and die, so that evolutionary process would work.
Right now it's like titans eating their children, they should die from regulator's axe, ideally at the very moment when mistakes stop being sufficient to kill them.