Intuit Purchasing Email Marketer Mailchimp in $12 Billion Deal

Intuit is acquiring global newsletter and email marketing platform Mailchimp in a cash and stock deal valued at $12 billion. Intuit, which makes software products including TurboTax, says it plans to integrate Mailchimp with its QuickBooks accounting software to help small and medium-sized businesses acquire and retain customers, Intuit CEO Sasan Goodarzi said in a statement. Mailchimp has “a lot of customer data. We have all the purchase data,” Goodarzi told investors last week. The deal follows Intuit’s 2020 purchase of Credit Karma for $7.1 billion. Continue reading Intuit Purchasing Email Marketer Mailchimp in $12 Billion Deal

Australia Considers Reforming Regulations for Digital Wallets

The Australian government is mulling new laws intended to tighten the regulation of digital payment services. Despite rapid growth, digital wallet services from Apple Pay, Google Pay and China’s WeChat Pay are not designated “payment systems” in Australia, which means they are not as yet governed by the country’s regulatory system. The move comes on the heels of a government-commissioned report addressing whether the payments system had kept pace with advances in technology and changes in consumer demand. Continue reading Australia Considers Reforming Regulations for Digital Wallets

Money Management Firms Surpass VCs in Funding Startups

In Q2 of this year, large money-management companies including hedge funds, mutual funds, pensions and sovereign-wealth groups became bigger players in Silicon Valley than venture capitalists with regard to startups. According to PitchBook Data, these nontraditional funders took part in 42 percent of startup financing deals, forming more than 75 percent of the invested capital. PitchBook added that, in the first half of 2021, investment in U.S. startups reached $150 billion, more than funding in every year prior to 2020. Continue reading Money Management Firms Surpass VCs in Funding Startups

Biden Executive Order Promotes Net Neutrality, Competition

President Joe Biden signed an executive order with 72 proposals and actions for a “whole-of-government effort to promote competition in the American economy.” Among them, President Biden encourages the FCC to restore net neutrality rules undone by former President Donald Trump, to “consider limiting early termination fees and prevent Internet service providers from making deals with landlords that limit tenant choices,” and to revive the President Barack Obama era Broadband Nutrition Label and its better price transparency. Continue reading Biden Executive Order Promotes Net Neutrality, Competition

Legislators Planning to Revamp Antitrust Laws for Digital Era

U.S. antitrust laws date back to the days of Big Oil. When a federal judge this week dismissed antitrust lawsuits brought against Facebook by the Federal Trade Commission and 48 states, experts called for a modernization of the laws themselves. The judge who dismissed the lawsuits said that the FTC didn’t prove its claim that Facebook was a monopoly and the states brought their case too long after Facebook’s acquisitions of Instagram and WhatsApp. Representative David Cicilline (D-Rhode Island) said the U.S. needs a “massive overhaul of our antitrust laws.” Continue reading Legislators Planning to Revamp Antitrust Laws for Digital Era

Florida Passes Legislation to Restrict Social Media Platforms

Florida just passed a new law, signed by Governor Ron DeSantis, that makes it illegal for Facebook, YouTube, Twitter and other social media platforms to permanently bar political candidates from their sites. The law, which was crafted in response to Facebook’s and Twitter’s ban of former President Donald Trump in January, will impose a $250,000 per day fine. The law also makes it illegal to prevent posts in response to stories on their platforms. The law will likely face a constitutional challenge in the courts. Continue reading Florida Passes Legislation to Restrict Social Media Platforms

Google Adopts Futuristic Hybrid Plan for Work Post-Pandemic

Google is creating a post-pandemic workplace to appeal to employees who got used to working remotely last year and may not want to return to the office full-time. Over the next year, the company plans to try out a variety of different ways to design office spaces, based on research done before COVID-19 hit. A variety of consultants were asked to imagine the future workspace, one of which is “Team Pods,” where desks, chairs, whiteboards and storage units are all on casters and can be rearranged in numerous configurations. Continue reading Google Adopts Futuristic Hybrid Plan for Work Post-Pandemic

States Lead the Way in Proposing Laws to Regulate Big Tech

Arizona, Maryland and Virginia are just three states pushing legislation to limit Big Tech companies such as Google and Apple on issues including digital advertisements, app-store fees and online privacy. Their actions appear to highlight a growing trend: that state capitals are emerging at the forefront of potentially regulating Silicon Valley behemoths. While the federal government is holding hearings and suing some Big Tech companies, states may beat them to passing laws that will become de facto national standards. Continue reading States Lead the Way in Proposing Laws to Regulate Big Tech

Maryland Becomes First State to Tax Big Tech on Digital Ads

The state of Maryland has taken a groundbreaking step, with its State Senate voting to approve the first U.S. tax on revenue from digital ads sold by Amazon, Facebook, Google and other major technology companies. The Senate had to override the governor’s veto to pass the measure, after its House of Delegates gave the law the greenlight. The new law is expected to generate an estimated $250 million in the first year, with money going to that state’s schools. Connecticut and Indiana have introduced similar bills to tax Big Tech companies. Continue reading Maryland Becomes First State to Tax Big Tech on Digital Ads

Section 230 Faces Bipartisan Scrutiny and Potential Updates

At the very end of his presidency, Donald Trump tried to strike down Section 230 of the Communications Decency Act, which essentially provides online platforms with immunity from liability based on third-party content. He failed, but Congress has received 20 proposals to update or change the section. On February 5, three Democratic senators introduced a bill to make social media firms accountable for enabling cyberstalking, harassment and discrimination. More recently, Senators Brian Schatz (D-Hawaii) and John Thune (R-South Dakota) plan to reintroduce the PACT Act, a proposal to jumpstart change. Continue reading Section 230 Faces Bipartisan Scrutiny and Potential Updates

Facebook Developing a Product to Rival Chat App Clubhouse

According to sources, Facebook is developing an audio chat product to compete with Clubhouse, a social networking app that has gained popularity with young people who gather and chat about various topics. Facebook chief executive Mark Zuckerberg, reportedly interested in audio products, has appeared on Clubhouse to chat about augmented reality and virtual reality. Facebook is also known for cloning popular products. Facebook’s audio product is, added the sources, in an early stage of development. Continue reading Facebook Developing a Product to Rival Chat App Clubhouse

Short-Form Video App Clash Acquires and Merges with Byte

Short-form video app Clash, which debuted in August, just acquired Byte, another short-form video app released a year ago. Byte creator Dom Hofmann was a co-founder of Vine, the once-popular six-second video app that shut down operations in 2016. Clash CEO and co-founder Brendon McNerney, formerly a star on Vine, explained that it is “more of an IP acquisition where we’re going to be taking over the community.” Byte and Clash will debut “in a few short months” as one product with monetization tools for creators. Continue reading Short-Form Video App Clash Acquires and Merges with Byte

Reuters Next: The Future of Further Education Post-Pandemic

The Reuters Next virtual conference, which runs the same days as CES 2021 this week (January 11-14), features more than 100 sessions and interviews across five key global areas: Policy & Progress, Radical Redesign, Recovering Growth, A Sustainable Future, and Media and Free Speech. Some of today’s sessions addressed how the blended digital and physical group work environment that will become the new normal post-COVID has direct parallels with how education in college and beyond will be handled, including points that will be of interest to ETC’s members and businesses in general. Continue reading Reuters Next: The Future of Further Education Post-Pandemic

Tech Employees Organize to Launch Alphabet Workers Union

The Alphabet Workers Union was just formed by 400+ Google engineers and other workers. The formation of this union, which is affiliated with the Communications Workers of America (CWA), is the result of years of activism at the Big Tech company focused on new policies on pay, harassment and ethics. The union was organized in secret for about a year and elected its leadership last month. Unlike most unions, this “minority union” represents only a small number of the company’s 260,000 full-time employees and contractors. Continue reading Tech Employees Organize to Launch Alphabet Workers Union

Pandemic, Rising Costs Ignite Tech Exodus From Silicon Valley

In Silicon Valley, some tech companies, investors and venture capital firms are relocating to cities with lower costs and less traffic. Oracle is pulling up stakes in Redwood City, California and heading to Austin, Texas, saying it plans to implement remote-work policies. Hewlett Packard Enterprise is moving its headquarters to Houston, Texas, where Elon Musk, long a Los Angeleno, has also moved. Although the reasons for leaving vary, many relocations seem to have been triggered by rising costs and the COVID-19 pandemic. Continue reading Pandemic, Rising Costs Ignite Tech Exodus From Silicon Valley

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