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.
Cannabis e-commerce platform Dutchie announced a $200 million Series C round of funding that the company said values it at $1.7 billion.
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Charles Stewart, CEO of Sotheby's, talked to Cheddar about plans to make its first-ever sale of a non-fungible token (NFT) in partnership with artist Pak.
The German automaker says it plans six big battery factories in Europe by 2030, starting with building out its existing ones in Salzgitter, German, and in Skelleftea, Sweden.
As a worldwide semiconductor shortage hammers American industries, trade groups are reaching out to the Biden administration with pleas to boost production in the U.S.
The street artist known as Alec Monopoly and Latin music star Ozuna are riding the wave of interest in non-fungible tokens (NFTs) to sell collaborative artwork featuring both of their brands.
Noah Davis, Christie's specialist in post-war and contemporary art, spoke to Cheddar about the stunning auction of a digital-only piece of art for $69.4 million by a relatively new artist called Beeple.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
You can’t separate classic New York City architecture from the fire escape. They’re all over.
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