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.
Amid a spate of Big Tech earnings reports on the horizon, social media giant Twitter accepted Elon Musk’s $44 billion offer to buy the platform. Musk has already signaled his intention to take the company private, and Angelo Zino, a senior equity analyst for CFRA, joined Cheddar News to talk about tech-related business news and what taking Twitter private could mean for the company. "His kind of vision is clearly on softening his stance on content moderation. You're going to see him do it, and we'll kind of see what else he has in store in terms of the pipeline of enhancing the product out there," Zino said about Musk's plans. "But there's a lot more he can do as a private company than he can do as a public company."
UPSIDE foods, a company that makes cultivated meat products, recently raised $400 million in a Series C round.
UPSIDE says it's developing a way to grow real meat, poultry, and seafood, without the need to raise animals for human consumption. It's a process that gets the attention of some big-name backers, including Bill Gates and Richard Branson. Dr. Uma Valeti, Founder and CEO of UPSIDE Foods, joins Cheddar News' Closing Bell to discuss.
Emmanuel Macron staves off the far right challenger Marine Le Pen in France, conservative lawmakers find themselves embroiled in varying controversies, and pickleball is hotter than ever in the U.S.
Catching you up on what you need to know on April 25, 2022, with Secretary of State Blinken and Defense Secretary Austin visiting Ukraine, Emmanuel Macron is reelected as president of France, Twitter is talking to Elon Musk about his purchase bid, and more.
