Big tech does well post SVB collapse, Apple Retail may hit Mumbai next month, and Team Lasso heads to the White House.
Big Tech
Meta to Lay Off 11,000 Employees, and That May Just Be for Starters
Meta CEO Mark Zuckerberg announced the company will lay off 13% of its employees. Some analysts think that’s only the beginning.
Walmart Enters the Metaverse with Two 'Immersive Experiences', Likely a Move to Advertise to Children
Walmart is entering the Metaverse with two “immersive experiences”, that is likely a thinly-veiled attempt at marketing toys to children.
Senate Won’t Vote on Big Tech Antitrust Bills Before Recess
Senate Majority Leader Chuck Schumer said he won’t call for a vote on two Big Tech antitrust bills because one won’t get enough votes.
Lawmakers Want Senate Vote on Big Tech Antitrust Legislation Before August Recess
Two pieces of Big Tech legislation are ready for a Senate vote before its August recess, lawmakers from the House of Representatives insist.
State Privacy Legislation Getting Input from Tech Lobbyists to Push Weaker Protections
A report from “TNW” indicates that many state legislations concerning privacy are being written by tech lobbyists.
European Council Establishes New Rules For "GateKeeping" Tech Giants
The European Council established new rules for tech giants Thursday evening. Over a period of four years, Big Tech will have to make changes.
Consumer Financial Protection Bureau Investigates Big Tech
The Consumer Financial Protection Bureau plans to start probing Big Tech companies over their usage of consumer financial data.
Senators Put Forward New Bipartisan Antitrust Bill Targeting Big Tech
Senators Amy Klobuchar and Chuck Grassley will put forward new antitrust legislation aimed at Apple and other Big Tech firms.
U.S. House Committee Approve Big Tech Report
The U.S. House of Representatives Judiciary Committee formally approved a report that accuses big tech companies, including Apple, of either buying or crushing smaller rivals, Reuters reported. The extensive document offers various options for changing antitrust law.
The more than 400-page staff report will become an official committee report, and the blueprint for legislation to rein in the market power of the likes of Alphabet Inc’s (GOOGL.O) Google, Apple Inc (AAPL.O), Amazon.com (AMZN.O) and Facebook (FB.O). The report was approved by a 24-17 vote that split along party lines. The companies have denied any wrongdoing. The report first released in October – the first such congressional review of the tech industry – suggested extensive changes to antitrust law and described dozens of instances where it said the companies had misused their power.