Twitter deserves a follow for China mute and block 20 Aug 2019 The $32 bln social network suspended state-backed accounts trying to subvert protests in Hong Kong. It also will stop taking ads from government-controlled media. Beijing’s wedge issue is a good opportunity for Facebook, YouTube and others to reconsider profiting from propaganda.
Verizon’s best media strategy is not having any 13 Aug 2019 The wireless giant’s bet on internet advertising never made sense. The sad trajectory of high profile, low revenue Tumblr illustrates the divide. The site’s sale carries an embarrassing price tag. That’s another wake up call for Verizon to pull the plug on AOL and Yahoo.
Google can battle some authoritarian states 13 Aug 2019 Russia’s regulator is pressuring YouTube to remove invites to anti-government protests. Luckily for the tech giant, capacity building for extreme censorship takes a while. Unlike in China, Moscow’s muscle is capped by shortcomings in technology and risk of political blowback.
Top Trump beneficiary gets it from the other end 7 Aug 2019 Few stocks have surfed the president’s term like the New York Times. Far from “failing,” the publisher tripled in value and is nearly halfway towards its 2025 goal of 10 mln total subscribers. But as Q2 results show, dopey headlines are less of a threat than Trump’s exit.
Breakdown: Silicon Valley privacy caught in a jam 29 Jul 2019 IBM is the latest to call for changes to a 23-year-old law that exempts the likes of YouTube and Facebook from lawsuits over content on their sites. The provision no longer encourages the kind of policing their platforms need. Yet scrapping it wouldn’t solve that, either.
Viewsroom: UK’s new PM looks for the exit 25 Jul 2019 Boris Johnson helped persuade Britons to vote to leave the EU. London’s former mayor now leads the country – and may find his pledge to quit the European bloc hard to keep. Meanwhile, U.S. watchdogs are circling Amazon, Alphabet, Apple and Facebook. Plus: Protests rock Hong Kong.
Facebook ad gusher easily washes away its fines 24 Jul 2019 The social network reported a 28% rise in quarterly revenue hours after U.S. regulators fined it $5 bln. Privacy violations haven’t deterred advertisers or users. More inquiries are looming, including on antitrust issues. But if Facebook can maintain growth, it can pay the piper.
Weak Facebook penalty mirrors weak U.S. watchdog 23 Jul 2019 The social network will pay a $5 bln fine and must form a privacy oversight panel after accusations it mishandled user data. The Federal Trade Commission doesn’t have enough powers or staff to punch harder. Unless Congress acts, Big Tech can expect more slaps on the wrist.
ByteDance charts a global path for China tech 23 Jul 2019 The $75 bln outfit behind video app TikTok is mending relations with Indian officials to avoid a ban. Even so, boss Zhang Yiming has outshone peers like Tencent's Pony Ma abroad, growing fast in the U.S. and beyond. Deep pockets and bold ambition could deliver a big payback.
Aging app kerfuffle shows fun trumps privacy 18 Jul 2019 Consumers love FaceApp’s filter for making selfies look older or sexier. Its Russian ownership has suddenly sparked privacy worries. Yet the app isn’t new, and people have been posting their images on social media for years. It’s past time for regulators to set some boundaries.
Congress is all bark and no bite on Big Tech 17 Jul 2019 U.S. lawmakers failed to disrupt Silicon Valley executives in hearings about antitrust concerns and Facebook’s crypto coin. Amazon faced some heat about third-party sellers but queries about MySpace and iCloud ads were distractions. It provides little incentive to change.
Silicon Valley is trapped in political purgatory 15 Jul 2019 Facebook can shrug off a $5 bln fine over privacy but the U.S. Treasury is questioning its crypto-coin plan. It also faces, with others, an antitrust grilling in Congress. Big tech doesn’t want a Wall St-like straitjacket, but growth will suffer without clear rules of the road.
Facebook sets diversity goals for others to follow 10 Jul 2019 The $570 bln social network wants at least half its staff to be women or from minorities in the next five years. Aside from being more representative, a more inclusive staff can help the bottom line. Facebook is not aiming for the stars, but it’s doing more than many companies.
The Exchange: Surviving the digital-media meltdown 8 Jul 2019 Venture capitalist Ben Lerer, whose firm backed BuzzFeed and Axios, drops by Breakingviews to discuss why startups in the news industry have been suffering. Unlike some of his peers, Lerer reckons these minnows can have mutually beneficial relationships with giants like Facebook.
Facebook discovers money is tougher than data 26 Jun 2019 Fed Chair Jerome Powell joined foreign watchdogs in vowing tough scrutiny of the $539 billion company’s planned crypto coin. Some of its own partners may have doubts about the project, too. The tactics Facebook used to pioneer social networking don’t transfer easily to finance.
Creepy data practices go beyond Silicon Valley 26 Jun 2019 A U.S. Senate plan requires big tech firms like Facebook to disclose the value of user information. Large merchants such as Walmart are included; financial firms like JPMorgan aren’t. Yet they all monetize data in ways not clear to consumers. There’s a case for widening the net.
Tech’s finance push is disrupting regulators too 25 Jun 2019 Innovations like Facebook’s proposed digital currency challenge established banking rules. New arrivals are hard to pin down, weaken existing players, and invert the risks and rewards of competition. A joined-up global response is necessary - but will be hard to agree.
Viewsroom: UBS gets lost in translation 20 Jun 2019 A star economist at the Swiss bank sparked outrage on Chinese social media after his remarks about the country’s pigs were misconstrued. UBS’s decision to put him on leave seems overdone. And: Those weighing the benefit of a Facebook cryptocurrency must ask if “In Zuck we trust.”
Facebook throws down crypto-gauntlet to critics 18 Jun 2019 The social network’s poor track record on privacy makes it an unlikely creator of digital money. Yet it boasts 2.4 bln users and has enlisted some of the biggest names in tech and finance as partners. The new currency, Libra, is a bet that Facebook’s trust problems are overblown.
UBS sets a troubling precedent in China 17 Jun 2019 The Swiss bank put economist Paul Donovan on leave after misconstrued comments triggered outrage in the mainland. Local rivals fed the unwarranted flare-up. The episode hints at new pressures for outsiders in the country; excessive subservience, however, creates bigger headaches.