Social media networks now face a fine of over $50 million in Germany if reported hate speech is not taken down within 24 hours, or seven days in complicated cases. Phillip Tracy, Tech Writer at The Daily Dot, joins Cheddar to discuss the new laws.
The Network Enforcement Act went into effect in October, but social media networks were given a grace period until January 1st. Facebook has reportedly already hired a team of people in Germany to deal with content deemed as hate speech. The law was met with much criticism over freedom of speech when first presented.
Tracy believes there will be a learning curve when it comes to what is considered hate speech. He doesn't think it's practical right now because of the sheer volume of content on social media platforms.
Avis stock surged more than 200 percent on October 2 after the company reported better-than-expected earnings. The move comes as Avis also looks to get involved in the EV industry and Elon Musk clouded the issue over Tesla's contract with Hertz. Joel Hawthorne, head trader and CEO of the Morning Snapshot, gave Cheddar his insight into what's happening for the rental car company on Wall Street.
John Freeman, VP of equity research at CFRA Research, joined Cheddar to break down factors weighing on video game publisher Activision Blizzard as it deals with the fallout from delayed releases and sexual harassment scandals. While not great for business, Freeman also questioned if the issues of the toxic corporate culture could have had an impact on title delays as well.
Steven Salz, Co-Founder & CEO of Rivalry, joins Cheddar News to break down how the metaverse plays into Internet culture, how augmenting human experiences impacts businesses, and how 5G technology plays into making it all possible.
Carlo and Baker discuss the election results across the country, including a Republican comeback in Virginia -- and possibly NJ -- plus the CDC gives the go-ahead for child vaccinations, Atlanta wins the World Series and more.
