| Maxwell Zeff / Gizmodo: |
Lawyers warn that the bill banning TikTok unless it's sold gives POTUS unchecked power to ban any app or site the President deems a “national security threat” — The United States could make TikTok the first app banned by law, but technology lawyers warn it won't be the last.| Mike Masnick / Techdirt: |
Banning TikTok is a performative, unconstitutional, authoritarian move that won't stop China from spreading propaganda or getting Americans' data — from the stupid-xenophobic-moral-panic dept — Over the last few days, we've had a few posts about the latest attempt to ban TikTok in the US … | Financial Times: |
Sources: TikTok's US revenue hit a record $16B in 2023 while ByteDance saw revenue grow ~40% YoY to $120B in 2023 and recorded a $28B net profit — Parent company ByteDance on track to become world's biggest social media group with $120bn in global sales — TikTok has hit $16bn in sales in the US … | Eleanor Olcott / Financial Times: |
| Taylor Lorenz / Washington Post: |
| Chance Miller / 9to5Mac: |
Walmart starts selling Macs directly for the first time, partnering with Apple to sell the M1 MacBook Air for $699 a week after Apple stopped selling the laptop — Walmart is teaming up with Apple to sell the Mac for the first time. In a press release today, the company said that it is now selling … | Jonathan Stempel / Reuters: |
Apple reaches a $490M settlement to resolve a class-action lawsuit that alleged Tim Cook defrauded shareholders in 2019 by hiding falling iPhone demand in China — Apple (AAPL.O) has reached a $490 million settlement to resolve a class-action lawsuit that alleged Chief Executive Tim Cook … | Manish Singh / TechCrunch: |
The Competition Commission of India orders an antitrust investigation into Google for charging app developers an “unfair” Play Store service fee of 10% to 30% — India's antitrust regulator has ordered an investigation into Alphabet's Google, alleging the U.S. tech giant abused … | Emma Roth / The Verge: |
Uber and Lyft plan to leave Minneapolis on May 1, after the city council passed an ordinance to guarantee drivers a minimum rate of $1.40/mile and $0.5/minute — Uber and Lyft are pulling their services out of Minneapolis after the city council passed an ordinance that will increase drivers' pay.| Brian Krebs / Krebs on Security: |
An investigation into Onerep.com, which helps people remove their personal data from people-search sites, suggests its CEO founded dozens of people-search sites — The data privacy company Onerep.com bills itself as a Virginia-based service for helping people remove their personal information from almost 200 people-search websites.| Dan Goodin / Ars Technica: |
Researchers detail how a side channel can be used to read encrypted responses from AI assistants, except Google's Gemini; OpenAI and Cloudflare made mitigations — All non-Google chat GPTs affected by side channel that leaks responses sent to users. — AI assistants have been widely available … | Steven Levy / Wired: |
Michael Seibel steps down as YC's managing director, says he did not feel disappointed when he was not tapped as CEO but would have accepted the job if offered — As the influential startup incubator downsizes—and navigates political pushback—managing director Michael Seibel is taking … | Business Insider: |
Sources: BeReal is weighing raising a Series C or being acquired, as what is left of its $90M in funding is set to run out this year and DAUs stagnate at 25M — - BeReal, the once-buzzy French social media app, is staring down a crossroads. — User growth has been tough to come by … | Lauren Feiner / The Verge: |
A look at Murthy v. Missouri, a case SCOTUS will hear Monday, which may upend how government communicates with social media platforms on topics like misinfo — On Monday, the Supreme Court will hear a case that could upend how social media platforms deal with posts containing anything from vaccine misinformation to election threats.| Natasha Lomas / TechCrunch: |
In an open letter to Nick Clegg, 36 MEPs urge Meta to scrap its “pay or okay” choice for EU users and to “align your business with the principles of the GDPR” — Meta is facing a call from lawmakers in the European Union to scrap its controversial “consent or pay” tactic on Facebook and Instagram.| Ailbhe Rea / Bloomberg: |
Sources: X declined requests by the UK's Labour party to take down a deepfake audio clip of leader Keir Starmer, raising concerns ahead of the general election — - Firm rebuffed Labour's request to take down clip, people say — Opposition party is training candidates on disinformation risk| Elena Schneider / Politico: |
Some Democrats warn that a ban of TikTok, used by nearly two-thirds of Americans under 30, could imperil Biden's reelection by depressing young voter turnout — The fresh push to ban the Chinese-owned social media company could hurt the president's reelection efforts.| Manish Singh / TechCrunch: |
After criticism, India's Ministry of Electronics and IT revises its AI advisory to drop plans to require government approval before new AI models are launched — India is walking back on a recent AI advisory after receiving criticism from many local and global entrepreneurs and investors.| Danny Nelson / CoinDesk: |
El Salvador moved 5,689.68 BTC, “a big chunk” or ~$400M worth, into a cold wallet this week; public trackers had estimated El Salvador had less than 3,000 BTC — The Central American nation moved $400 million in BTC into a cold storage wallet this week.| Bob Van Voris / Bloomberg: |
Filing: prosecutors ask a judge to sentence SBF to up to 50 years in prison when he is sentenced on March 28; SBF's lawyers had suggested five to six years — - Prosecutors say SBF showed brazen disrespect for rule of law — Bankman-Fried lawyers had proposed a 6 1/2-year sentence| Ryan Weeks / Bloomberg: |
Binance CEO Richard Teng, who has been in the role for only four months, quietly spun out Binance Labs, the company's $10B venture capital arm, earlier in 2024 — - Investment arm is now independent from the trading platform — Industry is monitoring for changes at Binance under CEO Teng| Wired: |
A deep dive into Reddit's history and the power of its 60K+ unpaid moderators, based on interviews with 60+ current and former mods, employees, and contractors — An army of more than 60,000 unpaid moderators has unprecedented power over Reddit. The company's future hinges on whether they can coexist with Wall Street's expectations.
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