If Facebook and Google don’t fix their problems, advertising execs say they could go somewhere else

The other question, posed by a number of Democratic presidential candidates: Should Facebook and Google be broken up? The largest companies in the industry teamed up to announce a new “Alliance for Responsible Content” at this year’s festival. “We’re working with Google, Facebook, Twitter, and 16 advertisers, together with all of the major holding companies. For other companies here, the pressure on Google and Facebook poses an opportunity. And AT&T’s ad tech division, Xandr, is also hoping to b


The other question, posed by a number of Democratic presidential candidates: Should Facebook and Google be broken up? The largest companies in the industry teamed up to announce a new “Alliance for Responsible Content” at this year’s festival. “We’re working with Google, Facebook, Twitter, and 16 advertisers, together with all of the major holding companies. For other companies here, the pressure on Google and Facebook poses an opportunity. And AT&T’s ad tech division, Xandr, is also hoping to b
If Facebook and Google don’t fix their problems, advertising execs say they could go somewhere else Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: julia boorstin
Keywords: news, cnbc, companies, ceo, really, content, execs, platforms, say, companies, ad, fix, tech, advertisers, facebook, problems, advertising, google, dont


If Facebook and Google don't fix their problems, advertising execs say they could go somewhere else

This year as executives from the world’s biggest brands and ad agencies gathered on the French Riviera for the annual Cannes Lions advertising festival, Facebook and Google, which control the majority of all digital advertising, are facing unprecedented scrutiny.

Governments around the world are looking to hold these two giants — called the “digital duopoly” — accountable for the content posted on their platforms and for the way they protect users data.

The other question, posed by a number of Democratic presidential candidates: Should Facebook and Google be broken up? These potential regulatory challenges come as executives from around the world meet to discuss where to invest the $600 billion expected to be spent on advertising worldwide this year.

The largest companies in the industry teamed up to announce a new “Alliance for Responsible Content” at this year’s festival. Sixteen of the world’s largest advertisers along with the ad agencies and tech platforms — Facebook, Twitter and Google — are working to create standards for what’s considered appropriate content and expectations of how they’ll prevent offensive and inappropriate content from surfacing.

This comes as Sen. Josh Hawley, R-Mo., proposes new legislation that would remove the tech companies’ protection from liability from the content on their platforms by overhauling Section 230 of the Communications Decency Act.

“Brand safety is critical for every brand. No one wants to see your ad suggesting people buy next to a jihadist video,” said Michael Kassan, CEO of MediaLink, whose parent company Ascential runs the conference. “It’s about protecting that. The platforms have the same level of responsibility. If your network was putting things like that on the air, the FCC would be looking very carefully.”

“When I talk to our clients, they’re really concerned about the platforms on which their messages are received. They want to be in brand-safe platforms,” said Mark Read, CEO of WPP, one of the world’s largest advertisers.

“We’re working with Google, Facebook, Twitter, and 16 advertisers, together with all of the major holding companies. … It’s really an initiative to bring people together for collective action to make sure the platforms are safe places for our clients to reach their consumers,” Read said.

The chief brand officer of one of those participating companies, Procter & Gamble’s Marc Pritchard, said this is about more than just removing terrorist content.

“We really expect to ensure that the platforms have control over their content and the quality of their content,” Pritchard said. “The other piece, which we’ve called out many times before, if we want to have more civility when it comes to editorial comments, so we have a civil internet. Just as we have on TV, like we have on radio, like we have in print.”

WPP’s Read said these companies should be held to a higher standard, but he also said he does not believe that it would help consumers to break the companies up.

“Clearly with the shift online these two companies are ever more powerful. But you have to ask ourselves, ‘What are we really trying to achieve by the people who’s going to be broken up?'” Read said. “And is that really going to make the world a better place? The great benefit of these platforms for consumers is most of their products are free.”

Michael Roth, CEO of IPG, said brands will start to move their dollars if things don’t change.

“Everyone talks about government regulation breaking [Google and Facebook] up. But what really will happen is our clients will start not spending with them. And that will be the biggest effect eventually if it doesn’t get corrected,” Roth said.

Kassan said that this is a “Network” moment, with the advertisers saying they’re “mad as hell and not going to take it anymore.” He said they’ll have to “not just move their lips, but also move their feet.” And now, Roth and Kassan agree that there are a growing wealth of ad options, including Amazon, Snap and Hulu.

For other companies here, the pressure on Google and Facebook poses an opportunity. Conde Nast, the magazine publisher that’s been investing heavily in digital video, is positioning itself as means for brands to access YouTube’s viewers without the risk.

“We’re the largest premium publisher on YouTube today,” Conde Nast CEO Roger Lynch said. “And so advertisers who may not want to advertise just broadly on YouTube will advertise through us on YouTube.”

Lynch said he knows they are working with advertisers who won’t advertise on YouTube, but will advertise through Conde Nast on YouTube.

And AT&T’s ad tech division, Xandr, is also hoping to benefit from the growing scrutiny facing its much larger rivals.

“I think it’s becoming more and more difficult for technology platforms to claim they have no responsibility for the content that is shared on their platforms,” Xandr CEO Brian Lesser said. “I don’t know if it’s about breaking up, and don’t know the extent of what Sen. Hawley is introducing, but I do think it is time for the big digital platforms to take some responsibility for the content.”

As for the question of whether regulation of the biggest ad platforms would be bad for the tech industry, Kassan said it’s a question of what the regulation looks like.

“You had Enron and then you ended up with Sarbanes-Oxley,” Kassan said, referring to the law that changed how the financials of public companies were regulated after the collapse of Enron. “I would suggest that Sarbanes-Oxley was an overreaction. My hope would be we don’t see that happen in tech. And the challenge of course is those who are making the decisions in the various regulatory agencies are not as steeped in the tech. You hope that the decision-making process is not done in a vacuum.”


Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: julia boorstin
Keywords: news, cnbc, companies, ceo, really, content, execs, platforms, say, companies, ad, fix, tech, advertisers, facebook, problems, advertising, google, dont


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Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts

Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths. Politicsread more


Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths. Politicsread more
Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: yun li
Keywords: news, cnbc, companies, buying, strike, scheduled, hurry, trump, parts, companies, commerce, chip, minutes, chinese, general, fall, happen, told, dept, result, bars, stocks, loaded


Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts

Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…

President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths.

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: yun li
Keywords: news, cnbc, companies, buying, strike, scheduled, hurry, trump, parts, companies, commerce, chip, minutes, chinese, general, fall, happen, told, dept, result, bars, stocks, loaded


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CVS just laid out a big reason why health companies are worried about Amazon

The judge this week ruled in CVS’ favor, preventing Lavin from taking immediate employment at PillPack. It’s a huge business — CVS’ PBM business represented approximately 60% of its overall revenues in 2018, or around $116 billion, according to a person familiar with CVS’ business. Amazon PillPack CEO TJ Parker, in a deposition in the Lavin case, admitted to the court that the company had “explored a number of different things.” In other words, CVS worries that Amazon is hiring Lavin to approach


The judge this week ruled in CVS’ favor, preventing Lavin from taking immediate employment at PillPack. It’s a huge business — CVS’ PBM business represented approximately 60% of its overall revenues in 2018, or around $116 billion, according to a person familiar with CVS’ business. Amazon PillPack CEO TJ Parker, in a deposition in the Lavin case, admitted to the court that the company had “explored a number of different things.” In other words, CVS worries that Amazon is hiring Lavin to approach
CVS just laid out a big reason why health companies are worried about Amazon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: christina farr
Keywords: news, cnbc, companies, pbms, amazon, companies, pbm, insurance, laid, cvs, health, pillpack, worried, blue, lavin, big, pharmacy, reason, plans


CVS just laid out a big reason why health companies are worried about Amazon

Kyle Walsh | CNBC

When word spread that Amazon would move into health care in 2017, health-care executives had a ready answer: We are not afraid. “I honestly don’t believe that Amazon will be interested in the near future in the next few years in this market,” Walgreens’ CEO Stefano Pessina told investors in an earnings call in July 2017. “I think we have a lot of capabilities and a value proposition that can compete effectively in the market,” CVS CEO Larry Merlo said back in August. But recent legal actions tell a different story.

In April, CVS filed a lawsuit against John Lavin, a former senior vice president in charge of CVS Caremark’s retail pharmacy network, after Lavin told the company he was leaving to take a job at Amazon’s pharmacy arm, PillPack. The judge this week ruled in CVS’ favor, preventing Lavin from taking immediate employment at PillPack. That follows another case from January of this year, where insurance giant UnitedHealth sued one of its employees for attempting to join a different Amazon initiative. That was Haven, Amazon’s joint employer health venture with Berkshire Hathaway and J.P. Morgan. These lawsuits suggest incumbents are more concerned than they’re letting on in public.

The underlying concern: Amazon going directly to insurers

Amazon has said almost nothing in public about its health-care strategy. But Amazon could disrupt the space dramatically by negotiating directly with insurance companies on drug pricing, cutting out the existing pharmacy benefits managers, or PBMs. All of that could potentially lower health-care costs for consumers. Among other functions, PBMs help insurance companies negotiate lower drug costs. Manufacturers arrange discounts, called rebates, with the benefits managers so they can fix a spot for their products on a PBM’s list of preferred drugs. It’s a huge business — CVS’ PBM business represented approximately 60% of its overall revenues in 2018, or around $116 billion, according to a person familiar with CVS’ business. Amazon PillPack CEO TJ Parker, in a deposition in the Lavin case, admitted to the court that the company had “explored a number of different things.” But he said the company had “no immediate plans” to compete with CVS Caremark’s core offering, its PBM. CVS certainly seems to think differently, according to the lawsuit to prevent Lavin from working for PillPack. “Given its robust infrastructure, operational capacity, and distribution reach, Amazon-PillPack is uniquely positioned to negotiate directly with payers (insurers) and displace CVS Caremark’s mail-based services,” CVS argued in support of its motion for a preliminary injunction. In other words, CVS worries that Amazon is hiring Lavin to approach its clients — insurance plans — for deals that could undercut its PBM. In particular, CVS said PillPack is already approaching Blue Cross Blue Shield. (CNBC reported talks between PillPack and the insurance network in May.) “Most recently, Amazon-PillPack engaged in direct discussions with Blue Cross Blue Shield, a federation of 36 health insurance plans that cover more than 100 million Americans, to provide its members with prescription home delivery,” CVS’ motion reads.


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: christina farr
Keywords: news, cnbc, companies, pbms, amazon, companies, pbm, insurance, laid, cvs, health, pillpack, worried, blue, lavin, big, pharmacy, reason, plans


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Tech industry slams GOP senator’s bill that would hold companies liable for user-posted content

Under the new bill companies would have to submit to audits every two years to prove their algorithms and content-removal practices are “politically neutral” in order to maintain their immunity. A Facebook spokesman also pointed at a statement provided by NetChoice, a trade association focused on e-commerce businesses whose members include Facebook, Twitter and Google. “Sen. Hawley’s bill creates an internet where content from the KKK would display alongside our family photos and cat videos.” A


Under the new bill companies would have to submit to audits every two years to prove their algorithms and content-removal practices are “politically neutral” in order to maintain their immunity. A Facebook spokesman also pointed at a statement provided by NetChoice, a trade association focused on e-commerce businesses whose members include Facebook, Twitter and Google. “Sen. Hawley’s bill creates an internet where content from the KKK would display alongside our family photos and cat videos.” A
Tech industry slams GOP senator’s bill that would hold companies liable for user-posted content Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: salvador rodriguez
Keywords: news, cnbc, companies, content, gop, facebook, slams, userposted, liable, tech, hold, internet, companies, association, users, senators, bill, statement, twitter, provided, industry


Tech industry slams GOP senator's bill that would hold companies liable for user-posted content

Tech trade organizations on Wednesday lashed out at a newly proposed bill by Sen. Josh Hawley, R-Mo., that would fundamentally alter the business models of tech companies such as Facebook, Twitter and Google’s YouTube.

The new bill, titled the Ending Support for Internet Censorship Act, would remove the immunity provided by Section 230 of the Communications Decency Act of 1996 that protects major tech companies from liability for the content posted by their users. Under the new bill companies would have to submit to audits every two years to prove their algorithms and content-removal practices are “politically neutral” in order to maintain their immunity.

Tech industry trade groups focused on the political neutrality aspect of the bill, arguing that this would make content moderation harder, not easier, as the companies would be open to lawsuits from users who believed they were being censored. More broadly, the bill could effectively require companies to vet all content before it’s posted, rather than after, which would dramatically raise the costs of content moderation and force major changes to these companies’ business models.

Asked about the bill, representatives for Facebook and Twitter both pointed to a statement provided by the Internet Association, a lobbying group that represents the two companies and several others in tech.

“This bill forces platforms to make an impossible choice: either host reprehensible, but First Amendment protected speech, or lose legal protections that allow them to moderate illegal content like human trafficking and violent extremism,” said Michael Beckerman, president and CEO of the Internet Association, in a statement. “That shouldn’t be a tradeoff.”

A Facebook spokesman also pointed at a statement provided by NetChoice, a trade association focused on e-commerce businesses whose members include Facebook, Twitter and Google.

“This bill prevents social media websites from removing dangerous and hateful content, since that could make them liable for lawsuits over any user’s posting,” said Carl Szabo, general counsel at NetChoice, in a statement. “Sen. Hawley’s bill creates an internet where content from the KKK would display alongside our family photos and cat videos.”

A Twitter spokeswoman also pointed to a statement provided by Americans for Prosperity, a policy group funded by the libertarian Koch family.

“This bill would punish success in the next generation of innovative startups and prevent them from achieving their full potential,” AFP said in its statement. “Lawmakers should reject this legislation.”

The Computer & Communications Industry Association, a group that represents computer, communications and internet companies, also criticized Hawley’s bill.

“At a time when white nationalists are stealthily seeding calls in the mainstream press for ‘viewpoint neutrality,’ it’s troubling that the senator would contemplate legislation forcing online services to carry these views,” the CCIA said in a statement. “American businesses shouldn’t be forced to be neutral toward racism and extremism.”

Google, Snap and Reddit did not respond to requests for comment.

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: salvador rodriguez
Keywords: news, cnbc, companies, content, gop, facebook, slams, userposted, liable, tech, hold, internet, companies, association, users, senators, bill, statement, twitter, provided, industry


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Senators: We’re cracking down on shell companies and money laundering

To make matters worse, banking laws designed to detect and combat money laundering and illicit financial activities haven’t been updated comprehensively in decades. We’ve worked together to draft bipartisan legislation that would require U.S. shell companies to report their true owners so that law enforcement can better track and penalize illicit criminal activities. That’s why in addition to requiring greater transparency for shell companies and updating money laundering laws, our bill also inc


To make matters worse, banking laws designed to detect and combat money laundering and illicit financial activities haven’t been updated comprehensively in decades. We’ve worked together to draft bipartisan legislation that would require U.S. shell companies to report their true owners so that law enforcement can better track and penalize illicit criminal activities. That’s why in addition to requiring greater transparency for shell companies and updating money laundering laws, our bill also inc
Senators: We’re cracking down on shell companies and money laundering Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: sens mark warner, tom cotton, doug jones, mike rounds
Keywords: news, cnbc, companies, shell, illicit, laws, information, cracking, law, united, senators, financial, criminal, companies, laundering, money


Senators: We're cracking down on shell companies and money laundering

The U.S. Capitol building is seen reflected in a puddle at sunrise on the day of the U.S. midterm election as voters go to the polls across the country to elect 33 U.S. senators and all 435 members of the U.S. House of Representatives in Washington, U.S., November 6, 2018.

The United States has become one of the go-to destinations for the creation of anonymous shell companies, allowing human traffickers, terrorists, money launderers, sanctions evaders, kleptocrats, and other criminals to promote criminal activities here in the United States undetected.

To make matters worse, banking laws designed to detect and combat money laundering and illicit financial activities haven’t been updated comprehensively in decades.

As a result, our financial institutions are spending more money than ever before to adhere to outdated compliance rules, while regulators and law enforcement personnel are stuck fighting 21st century threats with 20th century tools.

As senators committed to protecting U.S. national security, upholding the rule of law, and promoting efficient government, we believe the time is right to reform our laws for combating illicit finance.

We’ve worked together to draft bipartisan legislation that would require U.S. shell companies to report their true owners so that law enforcement can better track and penalize illicit criminal activities.

The Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal Activity in Shell Holdings Act (ILLICIT CASH Act) would modernize our antiquated money-laundering laws and ensure that public and private sector resources are used where they matter most.

Additionally, our legislation would facilitate information sharing between financial regulators and law enforcement, and upgrade the technology they use to fight terrorism and prevent criminals from exploiting our financial system.

Financial institutions, law enforcement professionals, national-security experts, regulators, businesses, transparency advocates, and human-rights activists agree that our current methods are falling short.

The United States is ranked second-worst in the world for its high levels of secrecy and offshore activities, according to the Tax Justice Network’s Financial Secrecy Index. Illicit finance has become such a problem that the Financial Action Task Force (FATF)—the premier international organization for combating money laundering—recently identified the United States as an outlier among developed nations for failing to disclose and track shell company ownership.

As we work to improve our policies for fighting illicit finance, we also want to protect legitimate privacy interests. That’s why in addition to requiring greater transparency for shell companies and updating money laundering laws, our bill also includes strict protocols for protecting personal information and stiff penalties for unauthorized disclosures of ownership information or personal data.

Legitimate U.S. businesses have much to gain from a crackdown on anonymous shell companies. Businesses will avoid lost revenue from counterfeit goods and risks to reputational damage from unknowingly dealing with criminal organizations.

At the same time, reporting this information shouldn’t mean hours of new paperwork or other costly reporting obligations. Our bill mandates that new corporate-reporting obligations be well-tailored and integrated within existing reporting requirements so they don’t place needless burdens on small businesses.

We’re encouraged by progress the House of Representatives has made on similar reforms and believe our legislation will provide tools to fight back against illicit financial and criminal activities in America.

We look forward to working with our House and Senate colleagues to move this important debate forward, bring the anti-money laundering system into the 21st century, and close our nation’s doors to shady shell companies and illicit financial activity.

Commentary by U.S. Sens. Mark R. Warner (D-VA), Tom Cotton (R-AR), Doug Jones (D-AL), and Mike Rounds (R-SD)

For more insight from CNBC contributors, follow @CNBCopinion on Twitter.


Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: sens mark warner, tom cotton, doug jones, mike rounds
Keywords: news, cnbc, companies, shell, illicit, laws, information, cracking, law, united, senators, financial, criminal, companies, laundering, money


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Cramer Remix: Libra is a ‘genuinely positive thing’ for Facebook

CNBC’s Jim Cramer on Tuesday applauded Facebook for its planned efforts to give people in troubled communities greater access to the digital age of money. The social media giant announced that it will dive into the cryptocurrency world with an initiative called Libra, a nonprofit independent of the company expected to launch in the first half of 2020. I have no problem with companies doing good things to improve their public image,” the “Mad Money” host said. Facebook over has “done a lot to rui


CNBC’s Jim Cramer on Tuesday applauded Facebook for its planned efforts to give people in troubled communities greater access to the digital age of money. The social media giant announced that it will dive into the cryptocurrency world with an initiative called Libra, a nonprofit independent of the company expected to launch in the first half of 2020. I have no problem with companies doing good things to improve their public image,” the “Mad Money” host said. Facebook over has “done a lot to rui
Cramer Remix: Libra is a ‘genuinely positive thing’ for Facebook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: tyler clifford
Keywords: news, cnbc, companies, thing, think, libra, called, digital, companies, cramer, money, positive, launch, genuinely, remix, wallet, facebook


Cramer Remix: Libra is a 'genuinely positive thing' for Facebook

CNBC’s Jim Cramer on Tuesday applauded Facebook for its planned efforts to give people in troubled communities greater access to the digital age of money.

The social media giant announced that it will dive into the cryptocurrency world with an initiative called Libra, a nonprofit independent of the company expected to launch in the first half of 2020. The project has support from payments companies like Visa, Stripe, PayPal and others.

“Now this is a genuinely positive thing. I have no problem with companies doing good things to improve their public image,” the “Mad Money” host said. “And ultimately, I wouldn’t be surprised if Libra turns out to be a very big deal for Facebook shareholders, giving you still one more reason to buy the stock if you needed any more to do so.”

Facebook over has “done a lot to ruin its reputation,” Cramer said. The company has faced scrutiny from both Washington, D.C. and the public over its data and privacy practices.

“I think this Libra non-profit initiative run by David Marcus — the former president of PayPal … who is a champion for privacy and, yes, a rectitude when it comes to the customer — I think this will actually work,” he said.

Libra can serve as a monetary alternative for individuals in the inner city who are in “banking deserts” and others in foreign countries with unstable currencies, Cramer said. Check cashing operations have a “really pernicious influence on poorer neighborhoods,” he said.

While the Libra currency will be run as a separate entity of Facebook, the social platform will launch a digital wallet app called Calibra for users to store money for free and make transactions through Messenger and WhatsApp. Facebook won’t profit directly from Libra, but has set up its own digital wallet called Calibra to store and exchange coins.

“Facebook isn’t trying to make any money on this, which could launch next year … [and it’s] right to show Congress that hundreds of millions of people still trust them and need them,” Cramer said. “They’re really desperate for better PR, who can blame them, because they don’t want to be raked over the coals by legislators worldwide for the rest of their lives.”

Facebook’s move into cryptocurrency is a way to save face, but the program could cut banks and credit cards out of the mix, he said. That’s why payments companies are getting behind it, he added.

“It would be better if Facebook didn’t do anything shady to begin with, but the whole business model is premised on using your data to come up with targeted advertising,” Cramer said.

Get his full thoughts here


Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: tyler clifford
Keywords: news, cnbc, companies, thing, think, libra, called, digital, companies, cramer, money, positive, launch, genuinely, remix, wallet, facebook


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GOP senator introduces a bill that would blow up business models for Facebook, YouTube and other tech giants

Hawley, a tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive under Section 230 of the Communications Decency Act of 1996. The CDA protects online platforms such as Facebook, Twitter and Google’s YouTube from liability for the content users post. The immunity provision of Hawley’s bill echoes concerns from other politically conservative lawmakers that these platforms are censoring right-wing voices by unfairly removing them from the pl


Hawley, a tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive under Section 230 of the Communications Decency Act of 1996. The CDA protects online platforms such as Facebook, Twitter and Google’s YouTube from liability for the content users post. The immunity provision of Hawley’s bill echoes concerns from other politically conservative lawmakers that these platforms are censoring right-wing voices by unfairly removing them from the pl
GOP senator introduces a bill that would blow up business models for Facebook, YouTube and other tech giants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: mary catherine wellons
Keywords: news, cnbc, companies, facebook, gop, content, senator, politically, tech, immunity, business, blow, companies, hawley, senate, youtube, provision, giants, 230, big, introduces, models


GOP senator introduces a bill that would blow up business models for Facebook, YouTube and other tech giants

President Donald Trump (R) listens while US Senate candidate from Missouri Josh Hawley (L) speaks at the Veterans of Foreign Wars of the United States National Convention July 24, 2018 in Kansas City, Missouri.

Sen. Josh Hawley, R-Mo., is turning up the heat on an issue that is sure to spark outrage in Silicon Valley.

Hawley, a tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive under Section 230 of the Communications Decency Act of 1996. The CDA protects online platforms such as Facebook, Twitter and Google’s YouTube from liability for the content users post. However, companies will be able to earn immunity from the crackdown if they submit to audits every two years to prove their algorithms and content-removal practices are “politically neutral.”

The idea of limiting Section 230 immunity has earned bipartisan support in recent years, as the companies have struggled to keep offensive and illegal content, ranging from terrorist propaganda to foreign-influenced election meddling, off their platforms.

Repealing the immunity provision could force these companies to use an editorial system where every piece of user-posted content would have to be vetted for illegal or libelous material before it’s posted, instead relying on algorithms and human checkers to scan it after it was already online and had a chance to spread to millions of people. This would fundamentally alter the business models of companies that depend on huge volumes of user-generated content, including all the big social networks.

The immunity provision of Hawley’s bill echoes concerns from other politically conservative lawmakers that these platforms are censoring right-wing voices by unfairly removing them from the platform. For instance, Sen. Ted Cruz, R-Texas, hammered Facebook CEO Mark Zuckerberg about alleged political bias during the executive’s testimony before Senate in April 2018.

“With Section 230, tech companies get a sweetheart deal that no other industry enjoys: complete exemption from traditional publisher liability in exchange for providing a forum free of political censorship,” said Hawley. “Unfortunately, and unsurprisingly, big tech has failed to hold up its end of the bargain.”


Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: mary catherine wellons
Keywords: news, cnbc, companies, facebook, gop, content, senator, politically, tech, immunity, business, blow, companies, hawley, senate, youtube, provision, giants, 230, big, introduces, models


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Microsoft resumes sales of Huawei laptops online

Microsoft on Monday said it has resumed sales of Huawei laptops on its website after a weeks-long stoppage. As a result, we are resuming the sale of existing inventory of Huawei devices at Microsoft Store,” a Microsoft spokesperson told CNBC in an email. Additionally, Microsoft said it would keep delivering software update sto Huawei devices that people own today. Our initial evaluation of the U.S. Department of Commerce’s decision on Huawei has indicated we may continue to offer Microsoft softw


Microsoft on Monday said it has resumed sales of Huawei laptops on its website after a weeks-long stoppage. As a result, we are resuming the sale of existing inventory of Huawei devices at Microsoft Store,” a Microsoft spokesperson told CNBC in an email. Additionally, Microsoft said it would keep delivering software update sto Huawei devices that people own today. Our initial evaluation of the U.S. Department of Commerce’s decision on Huawei has indicated we may continue to offer Microsoft softw
Microsoft resumes sales of Huawei laptops online Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: jordan novet
Keywords: news, cnbc, companies, microsoft, online, laptops, companies, huawei, revenue, windows, business, sales, devices, resumes, recent, told


Microsoft resumes sales of Huawei laptops online

Microsoft on Monday said it has resumed sales of Huawei laptops on its website after a weeks-long stoppage.

The action reflects the evolving dynamic for U.S. companies that have done business with Huawei, which has been caught in the middle of growing U.S.-China trade tension. The move is a sign of cooperation with a company that delivers Windows revenue, which is still core to Microsoft’s business despite its focus on cloud computing products.

Last month a government agency restricted how U.S. companies could sell products to Huawei, and shortly after that Microsoft’s supply of devices like the MateBook X Pro vanished. The agency then eased restrictions for 90 days, leading to changes in the way Google would work with Huawei during that period. Now Huawei Matebook laptops are available once again.

“We have been evaluating, and will continue to respond to, the many business, technical and regulatory complexities stemming from the recent addition of Huawei to the U.S. Department of Commerce’s Export Administration Regulations Entity List. As a result, we are resuming the sale of existing inventory of Huawei devices at Microsoft Store,” a Microsoft spokesperson told CNBC in an email.

Additionally, Microsoft said it would keep delivering software update sto Huawei devices that people own today.

“We remain committed to providing exceptional customer experiences. Our initial evaluation of the U.S. Department of Commerce’s decision on Huawei has indicated we may continue to offer Microsoft software updates to customers with Huawei devices,” Microsoft said.

The comments come after Huawei told CNBC that it could have its own operating system for laptops ready as soon as this fall.

Microsoft receives revenue when companies pay for Windows licenses for devices they produce. Revenue from such customers was up 9% year over year in the most recent quarter, during which Windows overall represented 16% of all revenue.

In recent weeks other U.S. companies have cut their revenue forecasts because they expect to sell less to Huawei.

WATCH: Huawei announces scrapping new laptop launch


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: jordan novet
Keywords: news, cnbc, companies, microsoft, online, laptops, companies, huawei, revenue, windows, business, sales, devices, resumes, recent, told


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Apple CEO Tim Cook: Technology companies need to take responsibility for chaos they create

Apple CEO Tim Cook warned that Silicon Valley companies needed to take responsibility for the “chaos” they create in a speech Sunday at Stanford University. Although Cook did not mention companies by name, his commencement speech in Silicon Valley’s backyard mentioned data breaches, privacy violations, and even made reference to Theranos, a disgraced startup. “Lately it seems this industry is becoming better known for a less noble innovation – the belief you can claim credit without accepting re


Apple CEO Tim Cook warned that Silicon Valley companies needed to take responsibility for the “chaos” they create in a speech Sunday at Stanford University. Although Cook did not mention companies by name, his commencement speech in Silicon Valley’s backyard mentioned data breaches, privacy violations, and even made reference to Theranos, a disgraced startup. “Lately it seems this industry is becoming better known for a less noble innovation – the belief you can claim credit without accepting re
Apple CEO Tim Cook: Technology companies need to take responsibility for chaos they create Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-16  Authors: kif leswing
Keywords: news, cnbc, companies, need, apple, create, responsibility, chaos, silicon, tim, cook, data, privacy, valley, ceo, stanford, companies, lose, speech, technology


Apple CEO Tim Cook: Technology companies need to take responsibility for chaos they create

Apple CEO Tim Cook warned that Silicon Valley companies needed to take responsibility for the “chaos” they create in a speech Sunday at Stanford University.

Although Cook did not mention companies by name, his commencement speech in Silicon Valley’s backyard mentioned data breaches, privacy violations, and even made reference to Theranos, a disgraced startup.

“Lately it seems this industry is becoming better known for a less noble innovation – the belief you can claim credit without accepting responsibility,” Cook said. “We see it every day now with every data breach, every privacy violation, every blind eye turned to hate speech, fake news poisoning out national conversation, the false miracles in exchange for a single drop of your blood.”

He continued: “It feels a bit crazy that anyone should have to say this, but if you built a chaos factory, you can’t dodge responsibility for the chaos.”

It’s the latest in a series of speeches from Cook in which he has has discussed his views on data security while criticizing Google, Facebook, and other technology companies for their approach to user data and privacy, usually without naming those companies. Apple advertises privacy as a key iPhone feature and recently released a privacy-focused sign-on feature that competes with Google and Facebook.

Cook told the new Stanford graduates that digital surveillance threatened innovation and would have “stopped Silicon Valley before it got started.”

“If we accept as normal and unavoidable that everything in our lives can be aggregated, sold and even leaked in the event of a hack, then we lose so much more than data. We lose the freedom to be human,” Cook said in the commencement speech.

The rest of the speech touched on themes including how to leave a legacy and advice to the students on how to follow their own paths.

In January, Cook called for a Federal Trade Commission “clearinghouse” that would enable people to track and delete the personal data held by companies.

Watch the full speech:


Company: cnbc, Activity: cnbc, Date: 2019-06-16  Authors: kif leswing
Keywords: news, cnbc, companies, need, apple, create, responsibility, chaos, silicon, tim, cook, data, privacy, valley, ceo, stanford, companies, lose, speech, technology


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Here’s how big tech companies like Google and Facebook set salaries for software engineers

Software engineers straight out of college often make six-figure salaries, not counting equity compensation. Robyn Beck | AFP | Getty ImagesThe crowdsourced data on levels.fyi shows that software engineers get paid extremely well at companies like Google, Facebook, Amazon, Apple, and Microsoft. The downside to the leveling system is that there can be an up-or-out culture based on the levels, Musa said. Facebook and Google tend to lead the market for software engineers, and their salary hikes set


Software engineers straight out of college often make six-figure salaries, not counting equity compensation. Robyn Beck | AFP | Getty ImagesThe crowdsourced data on levels.fyi shows that software engineers get paid extremely well at companies like Google, Facebook, Amazon, Apple, and Microsoft. The downside to the leveling system is that there can be an up-or-out culture based on the levels, Musa said. Facebook and Google tend to lead the market for software engineers, and their salary hikes set
Here’s how big tech companies like Google and Facebook set salaries for software engineers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: kif leswing
Keywords: news, cnbc, companies, tech, salaries, big, google, musa, mohiuddin, level, heres, levels, compensation, facebook, software, set, companies, engineers


Here's how big tech companies like Google and Facebook set salaries for software engineers

Spencer Platt | Getty Images

When recent college graduates and friends Zuhayeer Musa and Zaheer Mohiuddin started to break into the software industry, everything they found on the internet about engineering jobs seemed to be missing the actual information they needed: How much do these jobs pay? Software engineers straight out of college often make six-figure salaries, not counting equity compensation. Depending on seniority, some coders make millions of dollars per year. But where on that spectrum any given engineer lands often depends on a single number — what’s often called a “level.” At Google, for example, entry-level engineers start at Level 3. Apple has five levels for engineers, from ICT2 up to ICT6. Microsoft’s system starts at 59 for a software development engineer and goes up to 80 for a “technical fellow,” or one of the leaders of their given field. The higher your level is, the higher your compensation — and Musa and Mohiuddin realized that their peers had a lot of questions about how the levels worked. If a Level 4 at Google gets a new job at Facebook, what level should they be? If someone gets promoted to ICT3 at Apple, how much should they make? “In this new age where churn rates are very high, people are hopping around much more than they used to be,” Musa said. “It’s useful to know about levels if you’re going to Facebook to Microsoft to Amazon to Google, you want to know where you’re coming in and what your level is.” So the two friends made a website to crowdsource Silicon Valley salary data from workers at big tech companies, and it took off. “It’s personal for me. I was going through a job transition myself, I had only 2 years experience but had gotten promoted,” Mohiuddin said, adding that he’s seen friends get screwed over when changing companies. “We both decided why not build a simple, visual tool, showing levels across the different companies?” Musa added.

Salaries start over $150,000

street sign reading ‘Hacker Way’ is seen in the parking lot of the Facebook headquarters in Menlo Park, California. Robyn Beck | AFP | Getty Images

The crowdsourced data on levels.fyi shows that software engineers get paid extremely well at companies like Google, Facebook, Amazon, Apple, and Microsoft. Levels.fyi estimates that a Level 3 at Google, or an entry-level engineer who likely just graduated from college, should make $189,000 in total compensation, or about $124,000 in salary and $43,000 in stock compensation. At Facebook, an E3 — an entry-level “software engineer 3” — should make $166,000 per year total, according to the levels.fyi estimate. Compensation goes up as level goes up and can even accelerate in an exponential fashion, the website’s founders said. For example, at Google a Level 7, which is considered the top level for the vast majority of engineers, can make $608,000, according to levels.fyi. “It differs from company to company, but a bunch of companies have converged on almost the same system where there will be about six levels,” said Osman Ahmed Osman, a former Quora hiring manager who is now writing a book on technical recruiting. Each level has a slightly different job title at each company, but they closely correlate. “Google and Facebook are examples of companies where things are pretty similar,” he continued. The companies do have slightly different nomenclature. Apple’s levels, for example, are called ICT, for “individual contributor tech.” Salesforce’s levels are called MTS, for member of technical staff. The data on Levels.fyi is crowdsourced, which raises several risks that the data may be unreliable, including a self-selecting population — after all, the people most likely to submit their compensation details are those that make a lot of money. But the founders of levels.fyi stand behind what they’ve collected and how they remove outliers and other unreliable data points, and say it matches up closely with the kind of compensation datasets that firms like Radford or Connery Consulting sell — and they claim that that recruiters and HR people tell them they rely on it. They also point out that the website enables people to drill down into each given estimate to see specific data points, including the submitter’s speciality and location.

A powerful negotiation tool

Engineers who have achieved a level at a big company wonder what level they might be at a smaller firm — and whether that comes with a pay bump. “Most companies will have compensation bands that basically specify that if you’re level three then your salary range has this low end and this is the high end,” Osman said. But companies aren’t always transparent about what the range is for any given position, which makes negotiating for more money even harder, which is why Musa and Mohiuddin decided to crowdsource that information. “You’re probably making six figures if you’re a software engineer,” Musa said. “But there are senior engineers making crazy amounts in the millions. It’s eye opening, and that’s why we built this.” “Something that we’ve found that people value on the site is that we tie compensation to a specific level. Glassdoor or other pay sites don’t make the connection between level and pay,” he continued. “A lot of people who see our site can’t believe the numbers initially. I thought that too,” Mohiuddin said. “It’s pretty wild. Some folks with a few years experience are making a couple hundred of thousands of dollars.” The downside to the leveling system is that there can be an up-or-out culture based on the levels, Musa said. Another downside is that that the laddering system could exacerbate the diversity issues big tech companies face. “If you’re a candidate it’s really hard for you to navigate, and of course that has implications on fairness and diversity,” Osman said. “If you’re letting people earn more just because they can negotiate their way to the higher end of the band, you end up with white men who are overpaid and other people who are not encouraged to negotiate who tend to be underpaid.” The leveling system may also drive upward pressure on salaries throughout Silicon Valley, which is great for technical employees in high demand, but contributes to a high cost of living that can make it hard for people in less remunerative industries to live in the area. “As a general trend, I think what happens is every time Google and Facebook realize they’re losing too many mid-level career folk, they bump the compensation level up,” said Harj Taggar, the founder of Triplebyte, a software company that places engineers at tech companies like Apple. “The Uber or Slacks are going to need to increase their base salary, and when the Uber and Slacks start pushing their salary up, then the Series B and Series C startups need to push their salaries up,” Taggar continued. Facebook and Google tend to lead the market for software engineers, and their salary hikes set the pace for Silicon Valley, he continued. “The rising compensation of Bay Area software engineers, the source of that is Google and Facebook,” Taggar said.

If there’s a weak spot in the levels.fyi data, it’s at the very highest levels, where an individual engineer can earn millions of dollars. “When you start getting into 4 or 5 years in, the people who are more naturally skilled have the opportunity to show just how much more productive they are,” Taggar said, and that’s when compensation can balloon. Turns out, there just aren’t many people at the highest levels. For example, while most Google engineers realistically see Level 7 as the cap for most careers, some particularly distinguished software developers can go higher. Jeff Dean and Sanjay Ghemawat, who are among the most skilled coders in the entire world in Google’s system, have achieved Level 11, according to a December 2018 profile in The New Yorker. “It’s kind of pyramid shaped that the higher you get up that ladder, the fewer people there are at that level,” Osman said. “The majority of engineers fall between L3 and L5 if we’re using the generic levels. At most companies, staff level is somewhat of a career level, and you can be at that level at the rest of your life,” Mohiuddin said.

Not invented here

Zuhayeer Musa and Zaheer Mohiuddin, levels.fyi founders. Zuhayeer Musa and Zaheer Mohiuddin


Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: kif leswing
Keywords: news, cnbc, companies, tech, salaries, big, google, musa, mohiuddin, level, heres, levels, compensation, facebook, software, set, companies, engineers


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