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.
These are the headlines you Need 2 Know for Wednesday, June 19, 2019.
Facebook announced a new financial system that will be based on a digital token called Libra managed by an independent non-profit consortium, which is currently comprised of companies like Uber, Spotify, Visa, and MasterCard.
These are the headlines you Need 2 Know for Tuesday, June 18, 2019.
Sotheby's, one of the world's oldest auction houses, is being acquired by Patrick Drahi, the founder and controlling shareholder of European telecom giant Altice, in a $3.7 billion deal, the company announced Monday.
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.
A Toronto-based investment fund manager called 3iQ is working to overturn the rejection of its proposed Bitcoin Fund by the Ontario Securities Commission, saying that it is withholding opportunities from Canadian investors and holding back advancements in fintech. FredPye, President and CEO of 3iQ joined Cheddar to discuss the battle.
During its Elevate conference this week Uber sought to sell its vision for aerial logistics. Cheddar's Hope King was there.
These are the headlines you Need 2 Know for Thursday, June 13, 2019.
As scrutiny into the practices of large tech firms increases, the House Judiciary Antitrust Subcommittee on Tuesday held a hearing on the impact platforms like Google and Facebook have on the media.
These are the headlines you Need 2 Know for Wednesday, June 12, 2019.
