After nearly two years of warnings, the European Commission finally pulled the trigger - slapping a major social platform with a €120 million penalty under the Digital Services Act. This marks the first enforcement action of its kind, and the timing couldn't be more interesting.

What's particularly notable here is how this regulatory move seems to have generated more controversy than compliance. The fine represents a watershed moment for digital platform governance in Europe, but the immediate reaction suggests this regulatory approach might not be delivering the intended deterrent effect.

This case sets a precedent for how European regulators plan to enforce their digital rulebook going forward. Whether other platforms will adjust their strategies or push back remains to be seen, but one thing's clear - the era of regulatory warnings without consequences is officially over.