Technology Joseph Simons, the new chairman of the U.S. Federal Trade Commission (FTC), said on Wednesday that the agency would keep a close eye on big tech companies that dominate the internet. 21 Jun 2018 07:20AM Bookmark REUTERS: Joseph Simons, the new chairman of the U.S. Federal Trade Commission (FTC), said on Wednesday that the agency would keep a close eye on big tech companies that dominate the internet.Simons said the power of the big tech platforms - none of which he cited by name - raised new questions about competition and privacy. "It makes it very appropriate for it to be the subject of hearings and for us to get input on that," he said at a question session with reporters.Controversies surrounding Facebook and Alphabet Inc , Google's parent company, have led to calls for the FTC to look more closely at whether these companies use their market power to hurt potential rivals."They produce terrific products and one of the reasons that at least some of them are so … [Read more...] about New FTC chair wants to look at market power of big internet companies
Big tech companies
The world’s hottest tech companies are now worth more than some major stock markets, and they could be pointing out the next big bubble
caption Stock traders wearing Y2K glasses celebrate at the last trading day 1999, where closed up with the historic record of 17,091 points, in the floor of Sao Paulo’s Stock Exchange, December 30. source Paulo Whitaker/Reuters The most prominent US and Chinese tech stocks are worth more, by market cap, than the stock markets of the eurozone and Japan. Facebook, Amazon, Alphabet, Microsoft, Alphabet, Baidu, Alibaba, and Tencent are worth $5 trillion, according to data compiled by Bank of America Merrill Lynch. US tech stocks are worth even more, at a $6.6 trillion market cap. Michael Hartnett, BAML’s chief investment strategist, has cited this size as a reason why investors should reduce their exposure to tech stocks. “Long FAAMG + BAT” is considered the most crowded trade, according to BAML’s global fund-manager survey. … [Read more...] about The world’s hottest tech companies are now worth more than some major stock markets, and they could be pointing out the next big bubble
Big tech already has the best show in town
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By Dan Gallagher The Wall Street Journal Sun., June 17, 2018 Big tech companies can buy whatever they want. So why buy a media company when investors have rewarded them so lavishly for building up so much of their businesses on their own? The five largest tech companies by market value sit on more than half a trillion dollars in cash — cash that is no longer trapped offshore. They also have no aversion to using it. Combined capital spending by Apple, Amazon.com, Microsoft, Facebook and Google-parent Alphabet totalled $60 billion ($79 billion Canadian) last year, which is up 52 per cent from two years ago. And some of this money has flowed the way of Hollywood, as all five have invested in content across the TV, movie and videogame landscape. That has long fuelled speculation, which intensified this week when a judge ruled AT&T could buy Time Warner, that tech giants would gobble up media companies. The decision led quickly to a pricey bid by Comcast for … [Read more...] about Big tech already has the best show in town
EU privacy watchdog: Big tech firms are ‘blackmailing’ users into agreeing with their new data terms
caption Giovanni Buttarelli, the European Data Protection Supervisor. source European Data Protection Supervisor Europe’s data watchdog is worried that big tech firms are “blackmailing” users into agreeing to new data terms introduced under General Data Protection Regulation. Giovanni Buttarelli said his office will examine tech firms’ take-it-or-leave-it approach to data consent, which are already the subject of a complaint by Austrian data activist Max Schrems. Schrems claims Facebook, Google, Instagram, and WhatsApp are trying to “force you to consent” to their new privacy policies. Buttarelli said some sentences in the policies he has seen are “arguable and controversial.” Big tech companies are “blackmailing” their users into agreeing to new data terms they have introduced to comply with sweeping new … [Read more...] about EU privacy watchdog: Big tech firms are ‘blackmailing’ users into agreeing with their new data terms
There’s one way to hold tech companies hostage and fix the spread of hoaxes, conspiracy theories, and misinformation
caption David Hogg speaking on CNN. Conspiracy theories spread online that Hogg is a paid crisis actor. source Screenshot/CNN Hoaxes and fake news continue to be promoted on big tech platforms run by Facebook and Google. The companies have proven in the past that they can make big changes when properly incentivized. Advertisers could pull their ads from Facebook and Google in order to force the companies to fix the fake news problem. It’s amazing how advanced the technology behind Facebook and YouTube can be. Both sites can prevent porn from ever reaching your feed, identifying and deleting the offensive content almost in real time. They can scrub certain speech that’s illegal in some countries, like pro-Nazi content in Germany. Suicides and murders? Nope. (For the most part.) The technical wizardry that goes into that kind of moderation for sites that take in such massive quantities of … [Read more...] about There’s one way to hold tech companies hostage and fix the spread of hoaxes, conspiracy theories, and misinformation