California lawmakers this week reached a deal with Google to provide millions of dollars in public and private funding. Statewide newsroomsThis means that a bill that would have required tech giants to pay news publishers for publishing their articles has now died.
However, the deal was quickly criticised by some. Democrats and media unions The $100 million Google has pledged over five years is equivalent to the amount of revenue the search giant will generate in 2015. Approximately 30 minutesGoogle has agreed to shell out a significant amount of money, about $70 million a year, to bolster Canadian newsrooms.
California’s legislative session is set to end next week, but the fight is likely to return to Sacramento in the future. The state, home to the world’s largest tech companies, remains Discussing balance The gap between promoting innovation and developing regulations.
The crypto industry is investing heavily in politics
Cryptocurrency supporters Over $119 million The largest corporate donors to this year’s federal elections accounted for roughly half of all corporate money given to candidates and political action committees — the only other company to have donated more to political campaigns over the past few election cycles is the fossil fuel industry. Read moreThe Hill.
President Trump Launches Crypto Project
Former President Trump said:The rebels,” but offered few details. Trump’s sons Eric and Donald Jr. are both big crypto fans, and the former president headlined a Bitcoin conference in Nashville last month. Read more hereThe Hill.
Chinese companies use Amazon to get chips
Chinese government agencies use cloud services to access advanced U.S. chips and artificial intelligence that they would not otherwise be able to access. Do not violate US restrictions on exports of advanced chips to China. Read moreReuters.
This Week in Business
Chick-fil-A turns its attention to streaming services
The nationwide chicken chain Chick-fil-A is working with producers to Family-friendly programming It’s for a streaming service due to launch later this year. Non-entertainment companies like Lyft and Airbnb are also producing their own shows. Read more hereThe Hill.
Condé Nast signs deal with OpenAI
The media conglomerate that owns Vanity Fair, The New Yorker and WIRED Multi-year agreement with OpenAI The deal will allow the artificial intelligence giant to use its content. CEO Roger Lynch said the deal will help make up for lost revenue.The Hill.
Reddit’s ad revenue tops $1 billion
Reddit Advertising revenue: $1.1 billion This year, the tech company crossed the ten-figure mark for the first time. Reddit sells ads based on user interests, not on user data. Read moreBloomberg.
Ten state attorneys general Joins 29 other states The Department of Justice filed an antitrust lawsuit against Ticketmaster and its parent company, Live Nation. The lawsuit accuses the companies of stifling competition in the live events business. Read moreThe Hill.
California’s age verification bill dies
Laws requiring adult sites Check the user’s age The bill died in the California Senate Appropriations Committee. A bipartisan bill passed the Assembly unanimously earlier this year. Read more hereCalm Matters.
Our Radar
August 26:ofExplore VMwareThe conference kicks off in Las Vegas.
August 28: NVIDIA, Crowdstrike and Salesforce We will report our second quarter results.
Do this…
New research from Northwestern University finds that a weak electrical current can help Protecting the coastline from erosionResearchers have found that weak currents can transform ocean sand into a solid, immobile structure, which could be a strategy to protect coastal areas.Physics.org.
Don’t do that…
The telecommunications company that used AI to make automated calls imitating President Biden’s voice Pay a $1 million fineThe Federal Communications Commission announced this week that it would levy a $6 million fine against the Democratic strategist behind the robocalls. See below for details.The Hill.
