The indictment of 13 Russians for interfering with the Presidential election has intensified the pressure put on Facebook, which uncovered about three-thousand Russian-linked ads on its platforms before and after November 2016. Cheddar Senior Reporter, Alex Heath, breaks down the the latest developments.
Facebook's Vice President for ads, Rob Goldman, tweeted about Russia's disinformation effort. President Trump then cited him. Facebook did not intend for Goldman’s tweets to be quoted by Trump. They thought the tweets would only be seen by a contextually-aware audience of techies and media types who follow Goldman.
Heath believes that the tweeting from Goldman and other execs is part of a carefully orchestrated PR campaign by Facebook to make itself appear more transparent and relate-able through engaged spokespeople on Twitter.
The messaging tool was down for the better part of Wednesday, affecting workplaces across the country. For its size and how crucial it has become for businesses, an hours-long outage is "really troubling," says Brett Molina, digital editor at USA TODAY.
The ride-sharing company got a new $600 million worth of funding, led by investment firm Fidelity. That raises its valuation to $15.1 billion from about $7.5 billion a year ago. But even with the fresh money, Andrew Hawkins, senior transportation reporter for the Verge, said the company could still IPO before Uber.
The White House announced plans to ease restrictions on Chinese investment in U.S. technology companies on Wednesday. The Trump administration won't block companies with 25 percent or more of Chinese ownership from buying into the U.S. tech sector. Markets rebounded on the news.
The results are in from Tuesday's primary elections. Zach Montellaro, campaign reporter at Politico, joins Cheddar to weigh in on the shocking political upset in New York's 14th district. Political newcomer Alexandria Ocasio-Cortez defeated Rep. Joe Crowley, the fourth most powerful Democrat in the House.
Plus, Conagra Brands is buying Pinnacle Foods in a cash-and-stock deal worth $10.9 billion. The deal will create the second largest frozen food company in the U.S., just behind Nestle. Conagra owns Healthy Choice and Pinnacle owns Birds Eye.
Divi Project allows users to send cryptocurrencies to each other with the same ease as PayPal, but without the high transaction fees, since the company doesn't need an intermediary, says Co-Founder Nick Saponado.
The web hosting company's CEO spends a big chunk of time thinking about data rights and privacy, but Scott Wagner says his firm has an advantage over other internet companies because it doesn't rely on selling that info. "GoDaddy's business has always been about protecting information," Wagner said.
Match, which acquired a 51 percent stake in the dating app last week, will help the company scale both domestically and around the world, said Hinge CEO Justin McLeod. Match's portfolio also includes Tinder and OkCupid.
Instagram is now estimated at over $100 billion in value. Venmo rolls out an actual plastic debit card with Mastercard. The FDA approves its first marijuana-derived medication. The newest member of the Bush family is Sully the service dog. The yellow lab has been assigned to President George H.W. Bush, who is 94, and recovering from recent hospitalizations.
Amazon is partnering with American Express to launch a credit card designed for small businesses. But don't expect the financial industry to be the next area the tech giant jumps into, said Autonomous Research partner Lex Sokolin told Cheddar.
Though FAANG stocks hit an all-time high last week, their gains could be undermined by the Trump administration's trade stand-off with China that could soon widen into the technology sector, says Jason Ware, chief investment officer at Albion Financial Group.
Trade tensions are heating up again as reports emerge that President Trump is planning to block Chinese investments in U.S. tech companies. Plus, Harley-Davidson announced it will move some of its U.S. production to facilities in Europe in an effort to avoid retaliatory tariffs from the EU.
Celebrity chef Sheldon Simeon joins Cheddar to talk about the opening of his second restaurant in Hawaii this summer. Simeon, a native-born Hawaiian, also weighs in on the devastating volcanic eruptions across Hawaii and urges people to travel to the islands.
