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.

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What's Next for Auto Industry After White House Semiconductor Shortage Meeting
The global semiconductor shortage is actively hurting numerous industries, with the auto industry itself on pace to lose $210 billion by the end of the year. Brad Wimmer, EVP at Auto Lenders, joined Cheddar to discuss a White House meeting surrounding chip shortages and how industries can find a way to move forward. He noted that the end of the shortage is unlikely if the U.S. continues to depend on outside manufacturers. "We need consistent momentum and clarity, and we do not have that right now," Wimmer said. "So, I think this is going to continue into 2023."
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