Check out our 3 Shifts Edition (Apr 26 2024): Meta's open-source strategy, TikTok faces a US ban, Federal Trade Commission bans non-competes #bigtech #regulation #labor
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New Post: Meta’s ‘pay or consent’ model fails EU competition rules, Commission finds - https://lnkd.in/gfsuBcmW - Preliminary findings by the European Commission investigating a controversial binary choice Meta has forced on regional users of its social neworks, Facebook and Instagram, since last fall does not comply with the bloc’s Digital Markets Act (DMA). Failure to abide by the ex ante market contestability regulation, which has applied on Meta and other so © 2024 TechCrunch. All rights reserved. For personal use only. - #news #business #world -------------------------------------------------- Download: #Google #Font #Tester - https://lnkd.in/gKAZYbVN
Meta’s ‘pay or consent’ model fails EU competition rules, Commission finds
shipwr3ck.com
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While many tech companies globally are enduring tough times, Tencent seems to be flourishing. Best known for its messaging platforms QQ and WeChat, the Chinese tech giant saw revenues rise 11% YoY to hit US$20.6 billion in the second quarter, driven by its advertising business. This marks three straight quarters of revenue growth and the highest profit rise since late 2021. During an earnings call, President Martin Lau said the company plans to launch its proprietary foundational AI model later this year. #tencent #technology #china #ai
How well do you know WeChat tech giant Tencent?
businesschief.asia
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#DigitalMarketsAct #DigitalRegulation It is almost paradoxical that the outage of Meta‘s Apps happened just a few days before the final milestone for the implementation of The EU‘s Digital Markets Act. According to the European Commission, it will ensure fair digital markets and reduce the influence of major digital technology companies on the EU internal market. Following the designation of Gatekeepers on September 6th of last year, they had six months to adapt to the new requirements. Alphabet, Amazon.com, Apple, ByteDance, Meta Platforms, and Microsoft were named gatekeepers. European consumers noticed notifications to accept the new terms and provide consent when switching between different products of the same platform. By the end of today, it will become clear how serious the EU is about applying real fines for not complying, which can reach up to 10% of Gatekeeper's global annual turnover. Some gatekeepers have already challenged the EU‘s decision before the court. Apple, Meta, and ByteDance are contesting the EU‘s decision to include their services under the DMA, while Alphabet and Microsoft claim not to challenge the regulation and comply. There seem to be different groups benefiting or losing from the implementation of the DMA. Still, the ultimate question remains - will the EU consumers be better off after the regulation is implemented? I am happy to share our newest article at the Lietuvos laisvosios rinkos institutas II Lithuanian Free Market Institute, published in the Brussels Report, and remember the importance of this development.
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Professor of Law, Henry L. Moses Professor of International Law and Organizations at Columbia Law School
Who are the true #DigitalEmpires: #tech companies or governments? My thoughts on #Meta's decision not to launch #Threads in the #EU, what it says about the #EU's regulatory power, the future of the #BrusselsEffect, and who will ultimately relent: Meta or European regulators. https://lnkd.in/ddDx4grY
Meta vs the EU: who governs the digital economy? - UK in a changing Europe
ukandeu.ac.uk
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Meta accused of breaching EU antitrust rules over ad-supported subscription service #Meta #EU #EUAntitrust #CompetitionRules #AdSupported #SubscriptionService #AntitrustViolation #RegulatoryIssues #DigitalAdvertising #TechNews #LegalConcerns #DataPrivacy #PlatformEconomy #EuropeanUnion #MarketDominance #BusinessEthics
Meta accused of breaching EU antitrust rules over ad-supported subscription service
cnbc.com
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The EU is on a roll in regulating US tech companies, but is this heavy-handed approach stifling innovation? Yesterday, EU regulators accused Meta of violating its landmark new tech law, the Digital Markets Act (DMA), through the company's subscription-for-no-ads model. Meta is the second US company charged under the DMA in two weeks, following Apple's charge late last month. Back in November, Meta introduced a new option for Instagram and Facebook users in Europe: either sign up traditionally for free with personalized ads or pay a monthly subscription to go ad-free. This move was meant to comply with the DMA, which aims to protect user personal data. However, EU regulators argued that paying to keep your data private wasn't a real choice - putting Meta in violation of the DMA and they could face fines of up to 10% of their global revenues—billions, if not tens of billions, of dollars. In a pretty striking critique, Nick Clegg - interestingly enough, a British guy who works at Meta, called out that none of the world's top ten companies are European, nor are any of the dozen most valuable unicorns. Of the top 50 companies in Europe, none were founded within the last 30 years. Meanwhile, the GDP per capita in the EU is half that of the US—$40,000 per European compared to $80,000 per American. As a startup founder, this isn't just another headline for me. While regulators argue that these measures are needed to curb the dominance of big tech, the economic and innovative lag behind the US is hard to ignore. The EU’s regulatory environment often feels like a double-edged sword—protecting consumers but potentially stifling the very innovation that could propel our economies forward. Europe actually has a rich history of creativity and innovation. I recently learned that the World Wide Web was created by a British scientist Tim Berners-Lee in Geneva - which is huge and entirely revolutionized how we connect all around the world. Would love to hear more perspectives on the EU’s overregulation. As someone who’s spent a majority of my career in the States, I’m particularly curious as to what other founders in UK/Europe think.
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🚢Team Leader BI📊Travel Industry✈️ 🏥⚕️Ex-BI for Healthcare💊🩻 🧑🏻💻Tech Author💻Tech Influencer📱 🗣️I talk about #Data #AI #EVs🎤 👨🏻🏫MCSA, MTA, MCPS, MSc, BSc🎓
The European Commission has announced that Elon Musk's X social media platform, TikTok owner ByteDance, and Booking.com are potential "gatekeepers" under the Digital Markets Act (DMA) in the EU. With more than 45 million monthly active users and a market capitalisation exceeding 75 billion euros ($81 billion), these companies would be subject to stricter regulations as they provide essential platform services for business users. The DMA seeks to ensure fair competition, protect consumers, and address concerns related to anti-competitive practices, data control, and market manipulation by large tech companies. By subjecting these major players to increased scrutiny and regulation, the EU aims to promote a level playing field for all businesses operating within the digital ecosystem. It will be interesting to see how these companies navigate these new regulations and adjust their operations to comply with the EU's criteria for gatekeepers. #gatekeepers #traveltech #techtalks https://lnkd.in/e7exd_zh
X, ByteDance, Booking.com could face tough EU rules
reuters.com
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🔹 Top Voice - Consulting, Business Insights, Product Management | Prev. Managing Director of SaaS and Industry Solutions tech businesses | 16 years global products and industry lead @ Microsoft
Yes, Alphabet and Meta are "tech" businesses, but their revenues are really a mark of how advertising is doing. Advertising is the fuel that powers well over 80% of their total collective revenue "engine". And judging by how they made (in total) almost $100B USD in revenues from advertising in just the last three months, that part of their business model is doing rather nicely at present. This also highlights the scale of the challenge in front of Google. What to do with generative AI such that either (a) their ad revenue stream isn't completely cannibalised, or (b) if it is cannibalised, it's Google doing so rather than someone else, AND the replacement revenue stream is of similar magnitude...
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Responding to Digital #Innovators Breaking the Rules https://lnkd.in/gEgN_jFC A big part of #innovation at Airbnb, Facebook, Google, Uber, and other digital firms is not following rules. And a big of part getting away with it is policymakers and regulators failing to keep pace with the way digital companies #innovate, according to an Academy of Management Perspectives article. “Central to the emergence of these business model #innovations is a willingness on the part of the #innovator to challenge the existing norms and regulations of the market they are entering. For example, Mark Zuckerberg adopted the mantra ‘move fast and break things’ at Facebook until 2004, while Travis Kalanick listed ‘toe stepping’ and ‘principled confrontation’ among Uber’s corporate values. While this unorthodox and aggressive approach to growth antagonized many stakeholders, it also helped these businesses to establish themselves. For example, Uber’s strategy to explicitly operate as if rules and regulations did not apply to it largely paid off, at least during its early years of growth. Google, likewise, benefited enormously in rolling out new products without regard for whatever implicit rules might have existed. For example, [a previous researcher] argued that in launching Street View, Google ‘did not ask permission. It simply repeated the original sin of simple robbery and took what it wanted, waiting for resistance to run its course as it devoured and datafied the world’s public spaces,’” wrote Julian Birkinshaw of Ivey Business School at Western University. “These born-digital founders moved quickly, and they took advantage of the ambiguous rules in their respective markets to colonize the new market opportunities that had opened up. #Policymakers and #regulators, in contrast, were generally slow to understand how the business world had changed and were slow to adapt. They initially adopted a range of tactics based on existing regulations, but gradually began devising and implementing new regulations to bring them in line with the new realities of the digital era,” he wrote.
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Here are some of last week's trending tech and business news from China and around the world: ✅ TikTok is testing 60-minute video uploads with select creators, challenging YouTube's dominance. TikTok's owner ByteDance did not comment, but TechCrunch, a news website, reported the feature is available to a limited group in specific markets without immediate plans for a broader release. This move comes as TikTok faces political and competitive pressures, particularly in the US, where President Biden recently mandated ByteDance to divest TikTok’s US operations. TikTok has progressively increased its video length limits, aiming to diversify content and attract more users. ✅ Reddit shares surged 11% in extended trading after announcing a partnership with OpenAI, allowing the ChatGPT creator to train its AI models on Reddit content. OpenAI will access Reddit's Data API for real-time, structured content. In return, Reddit will offer AI features powered by OpenAI and gain a new advertising partner. "Reddit's vast archive of human conversations will enhance ChatGPT," said Reddit CEO Steve Huffman. OpenAI CEO Sam Altman, a major Reddit shareholder, highlighted the collaboration's potential. ✅ Tencent Holdings, owner of Blizzard, and NetEase, China's leading gaming firms, are escalating their competition with back-to-back game launches. NetEase, the second-largest online gaming company in China, plans to debut a dozen new titles next week, including collaborations with Marvel and The Lord of the Rings. Simultaneously, Tencent introduced dozens of new games on its WeGame platform this Sunday. The rivalry has intensified as other tech giants like ByteDance exit the gaming sector. The Chinese government, meanwhile, is showing renewed support for the industry, granting more licenses and retracting restrictive proposals to restore investor confidence. ✅ Microsoft is urging some China-based employees to consider relocating due to escalating US-China tech tensions. Approximately 700 to 800 staff involved in machine learning and cloud computing have been asked to transfer. The move follows US efforts to limit China’s access to advanced AI chips, citing national security concerns. A Microsoft spokesperson confirmed the internal transfer opportunities without specifying numbers, emphasizing the company's ongoing commitment to China. This comes as the Biden administration increases tariffs on Chinese imports and considers further AI export restrictions. Microsoft has operated in China since 1992. Follow us for more weekly tech and business related news wrap-ups!⭐ #business #china #globaltech #chinabusiness #chinatech #newsletter
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