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.
Under the agreement, Softbank will inject The We Company with $5 billion of new financing. Embattled founder and ex-CEO Adam Neumann reportedly will step down from the board with a buyout of up to $1.7 billion.
These are the headlines you Need 2 Know for Wednesday, October 23, 2019.
Despite the earnings wins and stock prices that have skyrocketed 154 percent year-to-date, Snap's fourth-quarter guidance came in a little lighter than analysts expected.
The surprise announcement, which sent shares up nearly 40 percent in early trading hours, comes months after Biogen discontinued research on the drug.
Robinhood got a head start six years ago with its fresh, easy-to-use trading platform and a mission to democratize the financial system by not charging commission fees. But now, with the major brokerages dropping their own commission fees to zero, it’s a new era for rising competitors.
David Marcus, the head of Facebook’s Calibra, reportedly told banking seminar attendees that the project is open to having a series of stablecoins pegged to specific government-backed currencies.
CEO Christophe Georges of British luxury automaker Bentley Motors said the company's first, fully electric vehicle will be in showrooms by 2025, with plug-in hybrid models arriving in 2023.
These are the headlines you Need 2 Know for Friday, October 18, 2019.
The announcement of what Ford is calling the "largest vehicle charging network in North America" comes almost a year before the company's planned release of its first all-electric vehicle
Speaking at Georgetown University, Zuckerberg said he recognized that the U.S. and nations worldwide are facing concerning social tensions but warned against the impulse to restrict free speech online.
