A California jury has ruled in favor of Elon Musk, finding the Tesla CEO not liable for losses experienced by shareholders following his 2018 tweet about taking the electric car maker private. The jury found that Musk did not act with “actual malice” or with the intent to harm investors, resulting in him having to forfeit his position as Tesla’s executive chairman and pay millions of dollars in fines and legal fees. The verdict is a relief for Musk, who has been under intense scrutiny since the tweet was sent and could have had a major impact on the future of Tesla and his role as CEO.
Posts published in “Tech”
TikTok CEO Shou Zi Chew will appear before the House Energy and Commerce Committee in March to answer questions about the platform's consumer privacy and data security practices, its impact on young users, and its relationship with the Chinese Communist Party. The committee is concerned about the safety of Americans and their data, and is looking to hold Big Tech accountable. The hearing will be chaired by Washington Republican Rep. Cathy McMorris Rodgers, and will include testimony from Chew, as well as Senators Mark Warner and Marco Rubio.
Elon Musk, CEO of Twitter, visited Capitol Hill on Thursday to meet with House leaders from both parties and receive a law enforcement briefing. The meeting was likely related to the fairness of the platform and the ongoing debate over tech regulation. It is unclear what the outcome of the meeting was, but it is the latest in a series of high-profile visits to Capitol Hill by tech executives.
IBM and SAP are cutting thousands of jobs as they prepare for a possible economic slowdown. Dow, a chemical company, is also cutting thousands of jobs as part of a restructuring effort. The job losses are a sign of the uncertain times ahead, and it is unclear how they will affect the global economy.
Meta, the tech giant, announced Wednesday that former President Donald Trump will be reinstated on Facebook and Instagram "in the coming weeks" with new guardrails in place to deter repeat offenses. Nick Clegg, the company's president of global affairs, said the suspension was a product of "extreme and highly unusual circumstances" and that Trump now faces heightened penalties for repeat offenses. Meta has not yet provided any further details on the reinstated accounts or the new guardrails.
Meta, the parent company of Facebook and Instagram, has announced that former President Donald Trump's accounts will be reinstated in the coming weeks with "new guardrails in place to deter repeat offenses." These guardrails will include penalties for repeat offenses and content removal for policy violations. The decision to reinstate the accounts follows a period of intense debate over the power of social media companies to regulate public figures' speech.
The U.S. Department of Justice and eight states have filed a lawsuit against Google, alleging that the company's dominance in digital advertising harms competition and has caused publishers to charge subscription or other fees. The complaint claims that Google has used its power to "neutralize or eliminate" rivals and to force advertisers to use its products. This is the fifth federal antitrust suit against Google since 2020, with the company yet to comment on the latest lawsuit.
The U.S. Justice Department has filed its second antitrust lawsuit against Google in two years, accusing the tech giant of using its dominance in the online advertising market to stifle competition. The lawsuit, which is backed by 8 states, seeks to make Google divest parts of its business. It is the latest sign that the U.S. government is taking a hard stance against tech giants, and the first blockbuster antitrust case against a Big Tech company under the Biden administration.