Senators Grill Tech CEOs Again: The Information’s Tech Briefing

great news

On Tue, Nov 17, 2020 at 8:54 PM Ali Hussein via kictanet <
[email protected]> wrote:

> Listers
>
> Internet Governance in focus.
>
> In this particular case the issue is America’s Section 230 of the
> Communications Decency act which states that:-
>
> \”No provider or user of an interactive computer service shall be treated
> as the publisher or speaker of any information provided by another
> information content provider\”
>
> In short – Third Party Liability.
>
> How this will pan out will have a global effect as the main target of
> these hearings is #BigTech. Your guess is as good as mine as to how this
> will go. One thing though is becoming increasingly clear to me –
>
> Governments and #BigTech are all in it for the POWER. Who controls the
> data controls the citizens. Makes #GOT look like child’s play.
>
>
> 
> Another day, another congressional hearing for tech CEOs. Facebook CEO
> Mark Zuckerberg and Twitter CEO Jack Dorsey (complete with that beard) were
> at it again, appearing before a congressional committee on Tuesday to
> discuss Section 230 of the Communications Decency Act—the law that gives
> internet platforms immunity from liability for what users post. But unlike
> the most recent hearing, before the Senate Commerce Committee, today’s
> hearing before the Senate Judiciary Committee was a little bit less
> contentious.
>
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3LnRoZWluZm9ybWF0aW9uLmNvbT91dG1fY2FtcGFpZ249JTVCY292aWQxOSU1RCtUZWNoK0ltcGFjXHUwMDI2…>
> Tech Briefing
>
> November 17, 2020
> ——————————
>
> Greetings!
>
> Another day, another congressional hearing for tech CEOs. Facebook CEO
> Mark Zuckerberg and Twitter CEO Jack Dorsey (complete with that beard) were
> at it again, appearing before a congressional committee on Tuesday to
> discuss Section 230 of the Communications Decency Act—the law that gives
> internet platforms immunity from liability for what users post. But unlike
> the most recent hearing, before the Senate Commerce Committee, today’s
> hearing before the Senate Judiciary Committee was a little bit less
> contentious.
>
> For the most part, there was less of the shouting—although Sen. Ted Cruz
> once again went on the attack about bias against conservatives, as did Sen.
> Josh Hawley. Democrats such as Sen. Richard Blumenthal, on the other hand,
> accused Facebook of caving to pressure from conservatives on not taking
> more action about conservative content.
>
> Sen. Lindsay Graham, the committee chair, helped lower the temperature
> with an opening statement that emphasized the aim to come up with standards
> that make social media’s content moderation more transparent to users.
> Whether that will lead anywhere remains the unanswered question.*—Martin
> Peers*
>
> Onto other news…
> ——————————
>
> ELLIOTT DEACTIVATES AT&T STAKE
>
> You win some, you lose some. That might be the Elliott Management
> philosophy as it exits its stake in AT&T, 14 months after disclosing the
> $3.2 billion position. After pressuring AT&T to consider selling DirecTV,
> among other assets, and to improve its corporate governance, the outcome is
> mixed. It’s not even clear Elliott made any money on the investment.
>
> AT&T has reportedly tried to sell DirecTV, without success. It added a
> couple of new directors. But AT&T’s stock price is trading about 13% below
> where it was when Elliott first wrote to AT&T outlining its concerns.
>
> It may be that the media’s expectations of activist investors like Elliott
> are overblown. In some companies, such as eBay, Elliott had a big impact,
> triggering numerous asset sales and senior management changes. Sometimes,
> though, the activists appear to be coopted by the target. Nine months after
> Elliott took a stake in Twitter, *reportedly unhappy*
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3LmJsb29tYmVyZy5jb20vbmV3cy9hcnRpY2xlcy8yMDIwLTAyLTI5L3Npbmdlci1zLWVsbGlvdHQtaXMtc2Fp…>
> about CEO Jack Dorsey’s part-time role, Dorsey has just been affirmed in
> his position by a board committee that includes an Elliott representative.
> Twitter shares are up 20%, though, which may satisfy the activist.
>
> Elliott has a position in Dropbox, securities filings show, another tech
> firm with tepid growth and a depressed stock price. Given the recent
> history of Elliott’s tech adventures, no one should bet on any miracles
> occurring there.
> ——————————
>
> DISCUSSING AIRBNB’S IPO
>
> Airbnb became an iconic Silicon Valley company doing what many startups
> can only dream about. “They created a market that didn\’t really exist
> before,” said Tobias Wann, a former travel industry executive, during The
> Information\’s live video conference on Airbnb on Tuesday.
>
> But how tight of a grip does 12-year-old Airbnb still have on that market?
> The company stressed in its IPO paperwork that the No. 1 factor affecting
> its future performance, as the travel industry recovers, was its ability to
> attract and retain hosts. Before the pandemic, growth in active listings on
> the site had slowed from 33% in 2018 to 29% in 2019. *As we reported
> recently*
> <www.theinformation.com/articles/slump-in-city-travel-raises-risk-airbnb-hosts-will-look-elsewhere?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d…>,
> executives are worried those active listings could slip further in cities
> where hosts saw a decline in bookings.
>
> For now, potential investors should be heartened that the majority of its
> hosts list their homes only on Airbnb, the company said in the filing.
> \”That\’s the secret sauce that makes Airbnb in my mind work,\” said Drew
> Patterson, executive chairman of short-term rental data firm Transparent
> Intelligence, in the video call.
>
> Interest in Airbnb\’s IPO is high, with twice as many potential investors
> showing interest in research on Airbnb compared with DoorDash, said
> Bernstein senior analyst Mark Shmulik.*—Cory Weinberg*
> ——————————
>
> ROBINHOOD’S IPO PLANS
>
> Robinhood, the trading platform credited with bringing lots of new
> individual investors into the stock market, is discussing an IPO in the
> first quarter of next year, *Bloomberg reported*
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3LmJsb29tYmVyZy5jb20vbmV3cy9hcnRpY2xlcy8yMDIwLTExLTE3L3JvYmluaG9vZC1pcy1zYWlkLXRvLXNl…>.
>
>
> That seems appropriate. Earlier in the year, when the stock market began
> to rally after the pandemic plunge, Robinhood was *credited*
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3LmJsb29tYmVyZ3F1aW50LmNvbS9idXNpbmVzc3dlZWsvaG93LXJvYmluaG9vZC1zLWFkZGljdGl2ZS1hcHAt…>
> in various news reports with bringing new investors into the market and
> driving the market’s recovery.
>
> That role has been reflected in fundraising success. Robinhood raised $460
> million in venture funding last month, following a $200 million funding
> round in August, with the most recent round valuing the company at $11.7
> billion. Now all those retail investors trading through Robinhood may get a
> chance to buy shares in the company itself.
> ——————————
>
> IN OTHER NEWS…
>
> – Twitter will introduce vanishing tweets available to its users
> globally. The new feature, called Fleets, are fullscreen posts that
> disappear after 24 hours, replicating the Stories format pioneered years
> ago by Snapchat.
> – Amazon launched a prescription drug delivery service called “Amazon
> Pharmacy,” letting customers purchase prescription medicine and upload
> their healthcare insurance information to the website.
> – Chinese ride-hailing giant Didi Chuxing unveiled an electric vehicle
> it co-developed with Chinese EV maker BYD. The new D1 electric car,
> custom-built for ride-hailing, is part of Didi’s effort to boost the supply
> of qualified vehicles that meet local government regulations that have
> become tighter in recent years.
> – SoftBank CEO Masayoshi Son said he has $80 billion in cash for
> investments and stock buybacks, *Bloomberg reported*
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3LmJsb29tYmVyZy5jb20vbmV3cy9hcnRpY2xlcy8yMDIwLTExLTE3L3NvZnRiYW5rLWZvdW5kZXItaGFzLTgw…>.
>
>
> ——————————
>
> NEW FROM OUR REPORTERS
>
>
> <www.theinformation.com/articles/goldman-sachs-goes-on-aws-hiring-binge-to-boost-ai-cloud-efforts?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3…>
> AGoldman Sachs Goes on AWS Hiring Binge to Boost AI, Cloud Efforts
> <www.theinformation.com/articles/goldman-sachs-goes-on-aws-hiring-binge-to-boost-ai-cloud-efforts?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3…>
>
> By Kevin McLaughlin
>
> A little over a year ago, Marco Argenti, a top engineering executive at
> Amazon Web Services, left the cloud computing arm of the internet retail
> giant to join Goldman Sachs as co–chief information officer. Read Story →
> <www.theinformation.com/articles/goldman-sachs-goes-on-aws-hiring-binge-to-boost-ai-cloud-efforts?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3…>
> ——————————
>
>
> <www.theinformation.com/articles/onlyfans-chief-talks-sports-ambitions-and-role-of-adult-content-in-site?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzO…>
> OnlyFans Chief Talks Sports Ambitions and Role of Adult Content in Site
> <www.theinformation.com/articles/onlyfans-chief-talks-sports-ambitions-and-role-of-adult-content-in-site?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzO…>
>
> By Tom Dotan
>
> One of the buzziest companies in tech today, OnlyFans, is about as far
> from a typical startup as is possible. Read Story →
> <www.theinformation.com/articles/onlyfans-chief-talks-sports-ambitions-and-role-of-adult-content-in-site?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzO…>
> ——————————
>
>
> <www.theinformation.com/articles/rental-startup-domio-plans-to-shut-down-after-failing-to-raise-funds?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8v…>
> Rental Startup Domio Plans to Shut Down After Failing to Raise Funds
> <www.theinformation.com/articles/rental-startup-domio-plans-to-shut-down-after-failing-to-raise-funds?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8v…>
>
> By Paris Martineau
>
> Domio, a short-term rental startup founded in 2016, plans to shut down and
> is looking to sell its assets, according to two investors in the company
> and documents viewed by The Information. Read Story →
> <www.theinformation.com/articles/rental-startup-domio-plans-to-shut-down-after-failing-to-raise-funds?cio_link_id=eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8v…>
> ——————————
> Corporate Subscriptions
> ——————————
>
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>
> ——————————
>
> WHAT WE’RE READING
>
> – America’s Zombie Companies Have Racked Up $1.4 Trillion in Debt: Read
> Now →
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3LmJsb29tYmVyZy5jb20vbmV3cy9hcnRpY2xlcy8yMDIwLTExLTE3L2FtZXJpY2Etcy16b21iaWUtY29tcGFu…>
> – The Substackerati: Read Now →
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3LmNqci5vcmcvc3BlY2lhbF9yZXBvcnQvc3Vic3RhY2tlcmF0aS5waHA_dXRtX2NhbXBhaWduPSU1QmNvdmlk…>
> – Steve Jobs’ Last Gambit: Apple’s M1 Chip: Read Now →
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vb20uY28vMjAyMC8xMS8xNy93aHktbTEtY2hpcC1ieS1hcHBsZS1tYXR0ZXJzP3V0bV9jYW1wYWlnbj0lNUJjb3Zp…>
> – Uber and Lyft Are Going National With Prop 22 Concept, Despite Voter
> Complaints: Read Now →
> <e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6IlJKSDNBZ01BQVhYWS1CT2lQM2dOYl9pSFJkc3c1Zz09IiwiaHJlZiI6Imh0dHBzOi8vd3d3Lndhc2hpbmd0b25wb3N0LmNvbS90ZWNobm9sb2d5LzIwMjAvMTEvMTcvdWJlci1seWZ0LXByb3AyMi1taXNp…>
>
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