Friday, September 27, 2024
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Big Tech mobilizes army to fight new regulations
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Tech companies are mobilizing an army of industry-funded trade groups that comprise a formidable opposition front to new legislation that would regulate consumer data privacy, children’s online safety and, most recently, artificial intelligence.
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At least a dozen of those trade groups exist, sometimes with a custom-fashioned partisan veneer to appeal to specific lawmakers — distinctions that are virtually without differences for groups that take money from all the same tech giants.
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The Chamber of Progress appeals to Democrats; NetChoice takes a more conservative, libertarian approach. But they land on the same side of most lobbying battles.
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“The political branding of these groups may be designed to appeal to Republicans or Democrats, but ultimately they are rowing in the same direction, which is to fight any form of tech regulation in Congress, state legislatures and the courts,” says Katie Paul, director of the Tech Transparency Project.
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Welcome to Tech Friday, a joint project of The Hill and Pluribus News covering tech policy across government.
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Lawmakers unveil social media health warning bill
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Sens. Katie Britt (R-Ala.) and John Fetterman (D-Pa.) released legislation this week that would require social media platforms to carry mental health warning labels. The Stop the Scroll Act would require popup labels developed by the Surgeon General and the Federal Trade Commission warning of potential risks. Read more at The Hill.
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FTC cracks down on deceptive AI
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The Federal Trade Commission has taken action against five companies it alleges use artificial intelligence in “deceptive and unfair” ways. The companies allegedly made false claims to consumers about legal services, online storefronts and online reviews. Read more at The Hill.
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US sanctions crypto network
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The U.S. government has sanctioned Cryptex, a virtual currency exchange accused of servicing Russia-based cyber criminals. Federal officials accused the exchange and two Russian nationals of engaging in bank fraud and money laundering. Read more at The Hill.
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OpenAI chief technology officer Mira Murati, chief research officer Bob McGrew and vice president of research Barret Zoph said they would leave the company. The departures come as the firm reportedly considers restructuring to become a for-profit business. Read more at The Hill.
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X releases transparency report
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X released its first transparency report since Elon Musk bought the platform, showing it had suspended about 5.3 million accounts and removed or labeled 10.7 million posts in the first half of this year. Read more at The Hill.
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Google accuses Microsoft of anticompetitive practices
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Google has filed a complaint with the European Commission over Microsoft’s cloud computing practices over licensing terms that lock consumers into Azure. Google accused Microsoft of limiting consumer choice. Read more at The Hill.
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Magnificent Seven performance this week
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AAPL +0.8%, MSFT -0.8%, GOOG +0.0%, TSLA +4.9%, NVDA +3.8%, META -0.7%, AMZN -0.7%. NASDAQ-100 Tech Sector index: +2.7%.
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Newsom signs vlogger protection bill
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California Gov. Gavin Newsom (D) has signed legislation requiring parents to set aside earnings for children who appear in online vlogging videos. The new law will require parents to put money in a trust that children can access when they turn 18. Read more at Pluribus News.
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California to require chronological algorithms
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Newsom also signed legislation requiring social media companies to provide teen users with chronological feeds by default, rather than feeds generated by an algorithm. New York passed a similar ban on “addictive” media feeds earlier this year. Read more at Pluribus News.
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Oct. 1-3: The Elevate Festival, Canada’s tech and innovation conference, kicks off in Toronto.
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Check out the latest groundbreaking research from the James Webb Space Telescope, which scientists think has discovered a new phase of galactic evolution. Researchers say the telescope has found a galaxy in which superheated gas clouds shine more brightly than stars, which they think represents a period of intense star formation.
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The Office of the Director of National Intelligence warned foreign adversaries are using artificial intelligence to enhance ongoing disinformation efforts within the U.S. Russia is the top creator of false information that stokes division and false narratives. Read more at The Hill, and don’t fall for malign actors.
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You’re all caught up! See you next week.
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