Facebook Removes More Fake Accounts and Hate Speech

In Q1 2019, Facebook removed 2.2 billion fake accounts from its popular social platform. That compares to 583 million fake accounts the company deleted in Q1 2018; in Q4 that year, it removed “just more” than 1 billion. Facebook said that “the vast majority” is removed within minutes of being created, so they do not count in its monthly/daily active user metrics. In its biannual report, Facebook also said its automated detection software used to delete “illicit content” was improving, removing more than half of the targeted speech. Continue reading Facebook Removes More Fake Accounts and Hate Speech

U.S. Blocks Chinese Telecom Bid for International Services

Citing law enforcement and national security risks, the Federal Communications Commissions unanimously denied an application by China Mobile USA (the U.S. arm of Chinese telecom giant, China Mobile Ltd.), which aimed to provide international calls and other services via American networks. This could be another in a series of signs of escalating tensions between China and the U.S. The crux of the FCC’s concern is that the company is owned by the Chinese government and would be therefore vulnerable to that influence.

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New Silicon Valley Stock Exchange Is Approved by the SEC

U.S. regulators have approved a new stock exchange originally introduced to the Securities and Exchange Commission last year by tech entrepreneur Eric Ries, who raised $19 million from VCs for his project. The new Long-Term Stock Exchange (LTSE) will provide tech firms with options to traditional New York exchanges. The “Silicon Valley-based national securities exchange” is “promoting what it says is a unique approach to governance and voting rights, while reducing short-term pressures on public companies,” reports Reuters. Continue reading New Silicon Valley Stock Exchange Is Approved by the SEC

Jury Finds Apple Owes Qualcomm $31.6M in Patent Dispute

According to a federal jury in a U.S. District Court San Diego, Apple infringed on three Qualcomm patents and owes the chipmaker about $31.6 million. Qualcomm filed the lawsuit in 2018, claiming that Apple violated patents related to graphics processing and improving the battery life of mobile devices. During the eight-day trial, Qualcomm asked for unpaid patent royalties involving the iPhones that infringed on its patents. The decision marks the latest in an ongoing legal battle and series of lawsuits between the two tech companies. Next month, the companies will head to court over antitrust claims by Apple. Continue reading Jury Finds Apple Owes Qualcomm $31.6M in Patent Dispute

Elizabeth Warren Introducing Plan to Break Up Tech Giants

Senator Elizabeth Warren (D-Massachusetts) is proposing “a regulatory plan aimed at breaking up some of America’s largest tech companies, including Amazon, Google and Facebook,” according to The New York Times. “The proposal … calls for the appointment of regulators who would ‘unwind tech mergers that illegally undermine competition,’ as well as legislation that would prohibit platforms from both offering a marketplace for commerce and participating in that marketplace.” The plan would also call for the rollback of tech acquisitions, “including Facebook’s deals for WhatsApp and Instagram, Amazon’s addition of Whole Foods, and Google’s purchase of Waze.” Continue reading Elizabeth Warren Introducing Plan to Break Up Tech Giants

Facebook Pushed for Global Support Against Privacy Laws

Leaked internal Facebook documents reportedly suggest that the company initiated secretive worldwide lobbying efforts to gain influence from hundreds of regulators and legislators across nations including Argentina, Brazil, Canada, India, Malaysia, all 28 member states of the European Union, the United States and United Kingdom. Reports indicate the social giant promised investments and incentives to politicians in hopes of getting their support for Facebook’s opposition to data privacy legislation. Continue reading Facebook Pushed for Global Support Against Privacy Laws

Facebook’s Latest Misstep: Culling Data From Popular Apps

Many smartphone users provide personal data to apps, from intimate health information to shopping habits. What the users don’t know is that Facebook culls the data seconds after they enter it, even if they have no connection to Facebook. Eleven popular apps, which have been downloaded millions of times, have been sharing data with Facebook — without any obvious disclosure to users providing that sensitive data. The revelation of that information has created a shakeup at Facebook and the involved apps. Continue reading Facebook’s Latest Misstep: Culling Data From Popular Apps

Ireland Is Investigating Facebook, Apple, LinkedIn and Twitter

Ireland, where many U.S. tech firms have European headquarters, is investigating Facebook in seven separate cases. Ireland’s data protection commissioner Helen Dixon reported that these probes are among 16 cases looking into Apple, LinkedIn, Twitter, as well as Facebook’s WhatsApp and Instagram. She added that the Irish and EU investigations are “centered on the activities of very big Internet companies with tens and hundreds of millions of users,” which would be “a very large factor when looking at the scale of a fine.” Continue reading Ireland Is Investigating Facebook, Apple, LinkedIn and Twitter

New York Settles with Devumi, Purveyor of Social Media Bots

The state of New York reached a settlement, announced attorney general Letitia James, with Devumi, a company that sold fake followers on Twitter and other social media platforms. Her investigation was prompted by a New York Times report about how the then-Florida-based Devumi raked in millions of dollars selling social media bots to at least 200,000 customers, among them businesses, politicians, reality TV stars, professional athletes, comedians, models and pornographic actors in New York and other states. Continue reading New York Settles with Devumi, Purveyor of Social Media Bots

CES Panel: How Blockchain, a Trust Technology, Is Evolving

CTA’s Tyler Suiters spoke with Phil Klein and Mark Mueller-Eberstein about their book, “The Trust Technology: How Blockchain Is Changing Your World.” “[Blockchain] has rapidly evolved,” said Klein. “The question is when it goes from bleeding edge to leading edge. I think we’re very close to that point. We’ve already crested past the hype cycle.” Mueller-Eberstein noted that blockchain and bitcoin first emerged as something transformational about four or five years ago. The academic research comes mainly from China. Continue reading CES Panel: How Blockchain, a Trust Technology, Is Evolving

T-Mobile Delays Debut of its Streaming TV Service Until 2019

T-Mobile US is pushing back the introduction of its video service until 2019, although those plans might also change, said sources. The reason is that the project became more complex than anticipated; chief executive John Legere had said the carrier would create a “disruptive TV service” that would transform the television industry, setting a high bar that was difficult to meet given the time constraint. Sources said the delay is intended to provide the time for T-Mobile to deliver on Legere’s initial promise. Continue reading T-Mobile Delays Debut of its Streaming TV Service Until 2019

Tribune Deal to Make Nexstar Top Local TV Operator in U.S.

Texas-based Nexstar Media Group has inked a deal to acquire Tribune Media for about $4.1 billion, which will make Nexstar the largest local U.S. TV operator. The news comes on the heels of Sinclair Broadcast Group’s thwarted deal to purchase Tribune for $3.9 billion, which fell through due to regulatory issues. According to sources, Nexstar made an all-cash offer for Tribune, valued at around $46.50 per share. The company, which has a market capitalization of $3.8 billion, was also able to outbid private equity firm Apollo Global Management. Continue reading Tribune Deal to Make Nexstar Top Local TV Operator in U.S.

Alphabet Posts Higher Profits But Slowing Overall Revenue

Alphabet, dealing with pushback from regulators and struggles in its corporate culture, reported net profit that increased 37 percent to $9.19 billion in the quarter through September. Last year, during the same period, the company posted $6.7 billion. Although this growth exceeded analysts’ expectations, overall revenue is actually down, growing 21 percent to $33.74 billion versus last year’s 24 percent growth in the same period. Revenue from advertising, representing the majority of sales, grew 20 percent to $28.95 billion. Continue reading Alphabet Posts Higher Profits But Slowing Overall Revenue

Facebook Faces Another Privacy Issue Due to Software Bug

Facebook revealed that a software bug was live for 10 days during May and, as a result, may have affected up to 14 million users. The company explained that millions of users who believed they were sharing privately with their friends or small groups may have actually shared their information publicly; the bug apparently updated the audience selector to “public” without notifying users. Facebook announced it plans to contact the individuals that may have been impacted. “We’d like to apologize for this mistake,” said Facebook’s chief privacy officer Erin Egan in a statement yesterday. Continue reading Facebook Faces Another Privacy Issue Due to Software Bug

Cryptocurrencies Are Experiencing a Significant Drop in Value

Those who doubted virtual currency have had their worst fears confirmed: cryptocurrency’s value has plummeted 50 percent from its peak in early January, pushing Bitcoin, for example, below $7,000. Among the problems bedeviling virtual currencies are hackers, scams and Ponzi schemes. Now, the Securities and Exchange Commission and the Commodity Futures Trading Commission are scheduled to testify to the Senate banking committee about how they have been trying to corral cryptocurrency markets. Continue reading Cryptocurrencies Are Experiencing a Significant Drop in Value

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