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OpenAI CEO Sam Altman (L) speaks with Microsoft Chief Technology Officer and Executive VP of Artificial Intelligence Kevin Scott during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. The Federal Trade Commission and the Justice Department are set to open antitrust investigations into Microsoft , OpenAI and Nvidia , examining the powerful companies' influence on the artificial intelligence industry, a source familiar confirmed to CNBC. The FTC will take the lead on looking into Microsoft and OpenAI, while the DOJ will focus on Nvidia, and the investigations will focus on the companies' conduct, rather than mergers and acquisitions, according to the source. The news also follows the FTC's January decision to conduct an extensive study on AI industry heavyweights, including Amazon , Alphabet , Microsoft, Anthropic and OpenAI. Microsoft and OpenAI did not immediately respond to requests for comment.

Persons: Sam Altman, Kevin Scott, Anthropic, Claude chatbots, that's, Lina Khan, Khan, OpenAI, — CNBC's Eamon Javers Organizations: Microsoft Chief Technology, Artificial, Microsoft, Federal Trade Commission, Justice Department, Nvidia, CNBC, FTC, DOJ, New York Times, Google, Meta Locations: Redmond , Washington

☆ FTC prepares to sue largest U.S. alcohol distributor, alleging 'secret kickbacks'
▼ + stars: | 2024-06-05 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

Lina Khan, chair of the Federal Trade Commission, speaks during the 2024 CNBC CEO Council Summit in Washington, D.C. on June 4, 2024. The Federal Trade Commission is preparing an antitrust lawsuit against the largest U.S. alcohol distributor, Southern Glazer's Wine and Spirits, two sources familiar with the matter told CNBC. But one source said the commission is likely to allege that Southern Glazer's has been providing "secret kickbacks" to large retail customers and violating the 1936 Robinson-Patman Act. Florida-based Southern Glazer's Wine and Spirits distributes alcohol for over 7,000 brands in 44 states. Under the FTC's interpretation, the Robinson-Patman Act is not a wholesale ban on price discrimination and could allow volume discounts.

Persons: Lina Khan, Robinson Organizations: Federal Trade Commission, CNBC, Summit, Southern, Politico, Forbes Locations: Washington ,, Southern, Florida

☆ Bitcoin is on the verge of a bullish breakout again. What to watch on the charts
▼ + stars: | 2024-06-05 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

Despite the wild ride from a performance and volatility perspective, over the last six months, BTC has continued to do one thing very well – adhere to the technicals. It never violated the breakout zone from October'23 and hit the target by early March. Each prior falling wedge pattern breakout was accompanied by its RSI moving to overbought territory. Two Bullish Patterns on One Chart The second and third bullish formations appear on this chart. To reiterate, these targets are attained simply by adding the height of each pattern to the breakout points.

Persons: bitcoin, Let's, it's, Frank Cappelleri Organizations: SEC, BTC Locations: bottoming

☆ A Sequoia partner announced he's backing Donald Trump following his felony conviction, highlighting a political shift in Silicon Valley
▼ + stars: | 2024-05-31 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. While Silicon Valley has long been a liberal hub, Trump has been courting the big-pocketed tech executives and venture capitalists there. Others, like venture capitalist Marc Andreeson and Rabois, have not announced their support for Trump but have criticized Biden. The members of the monied West Coast class throwing their support behind Trump are mirroring some Wall Street counterparts. AdvertisementOf course, the growing number of influential Silicon Valley voices supporting Trump — Sacks and Palihapitiya have their popular podcast, Musk has his an entire social media platform — are not representative of many of the area's wealthy inhabitants.

Persons: —, Shaun Maguire, Donald Trump —, Maguire, Hilary Clinton, David Sacks, Elon Musk, Keith Rabois, Trump, Chamath, Sacks, week's Trump, Biden, Musk, Marc Andreeson, Steve Schwarzman, he'd, Bill Ackman, Trump — Sacks, Palihapitiya, Marissa Mayer, Vinod Khosla Organizations: Service, Trump, Business, Silicon Valley, Big Tech, Blackstone, Biden Locations: Sequoia

☆ China is developing systems to hunt US submarines from the air
▼ + stars: | 2024-05-29 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

China is developing new systems to hunt the US nuclear-powered submarines that could threaten a Chinese invasion of Taiwan, according to a new report. Also significant is that Chinese airborne sub hunters are tasked with protecting Chinese ballistic missile submarines as they sail to their patrol and launch locations. Current Chinese sonobuoys require "a complicated and labor-intensive series of manual button presses to configure sonobuoy parameters such as radio working frequency, working depth, working time, and pulse form to fit maritime conditions before deployment." "PLAN ASW units are training under more realistic conditions, and breaking down administrative barriers which prevented them from generating more training opportunities in different operational environments." AdvertisementFor example, since 2015, training materials have stressed the need for ASW aircraft and ships to work closely together, which is standard practice in the US and Western navies.

Persons: Eli Tirk, Daniel Salisbury, Tirk, Deanna C, Michael Peck Organizations: Service, Business, People's Liberation Army Navy, Taiwan, China Maritime Studies, Naval War, PLAN, US Navy, China Electronics Technology Group Corporation, Aviation Industry Corporation of China, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: China, Taiwan, Japan, Salisbury, America, Forbes

☆ Hess shareholders to vote on Chevron deal as dispute with Exxon over Guyana assets creates uncertainty
▼ + stars: | 2024-05-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Exxon filed for arbitration in March to defend the rights it claims under the joint operating agreement. Chevron and Hess have told investors that the pending deal would terminate if Exxon prevails in the dispute. Hess shareholders would bear the risk if the deal terminates because Chevron is not obligated to pay a termination fee, according to ISS. Exxon is seeking to confirm its rights under the joint operating agreement and find out the value placed on Hess' Guyana assets under the deal, Woods said. Chevron has repeatedly maintained that the Exxon's claims under the joint operating agreement do not apply to its acquisition of Hess.

Persons: Hess, Glass Lewis, Mike Wirth, Darren Woods, Woods, Wirth Organizations: Chevron, Exxon Mobil, Mobil, Exxon, China National Offshore Oil Corporation, Institutional, Services, Hess, ISS, CNBC, Federal Trade Commission Locations: York, Guyana, China

CNBC reached out to the SEC about the recent batch of Wells notices sent to crypto firms, and an agency spokesperson declined to comment. Exchanges, both centralized and decentralized, would be forced to choose between registering with the SEC, or delisting ether altogether. watch nowBoth Consensys and Uniswap suggest the SEC's broad approach to classifying securities may be outdated. "The SEC is arguing that the Uniswap protocol is an unregistered securities exchange, and that the Uniswap interface and wallet are both unregistered broker brokers," Ammori said. Uniswap argues in its response to the SEC that the majority of its trading volume is obvious nonsecurities, like ether, bitcoin and stablecoins.

Persons: Marvin Ammori, “ Ammori, Wells, Consensys, overreach, Joseph Lubin, Lubin, “, —, Christopher Gerold, Laura Brookover, Brookover, ethereum, Bill Hinman, Hinman, Patrick McHenry, Gary, Crypto, haven't, Uniswap, Ammori, there's, Alma Angotti, Guidehouse, Coinbase, We've, Christina Rea, We're, CNBC's Jordan Smith Organizations: Securities and Exchange Commission, Uniswap, SEC, Ethereum Foundation, CNBC, Security, New, New Jersey Bureau of Securities, Consensys, Securities, Exchange Commission's, of Corporation Finance, Rep, Robinhood Locations: U.S, Lubin, New Jersey, ethereum, R

A fast food stock and Nvidia were among the stocks being talked about by analysts on Wall Street. RBC assumed coverage of Jack in the Box with an outperform rating and a price target that implies more than 40% upside. Ransom's $10 price target implies about 37.6% potential upside for the stock, which has gained 8.5% this year. Mailk said he likes the buy-rated stock on "secular AI growth opportunities" and maintained his $1,030 price target. New Street Research maintained its buy rating and $1,100 price target ahead of the quarterly print.

Persons: Jack, Piper Sandler, GoodRx, Raymond James Raymond James, John Ransom, — Pia Singh, Tesla, Dell, Amit Daryanani, Daryanani, Wolfe, Chris Caso, Caso, INTC, Coupang, Jennifer Han, Han, that's, Nvidia's, Piper Sandler's Harsh Kumar, Kumar, Blackwell, Atif Malik, Mailk, Pierre Ferragu, Logan Reich, JACK YTD, Fred Imbert Organizations: CNBC, Nvidia, Wall, RBC, Citi, New, Research, Kroger, pharma, Dell, DELL, Wolfe Research, Intel, UBS, Blackwell, RBC Capital Markets Locations: Korea

☆ Don't call them DINKs. Many childfree adults are ALICEs, living paycheck to paycheck without government assistance
▼ + stars: | 2024-05-14 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

A growing number of child-free adults, however, are falling through the cracks of the US economy. Many low-income childfree adults fall into the ALICE category — people who are asset-limited, income-constrained, and employed. The majority of these adults don't receive any state or federal rental assistance. AdvertisementMany Social Security and Medicare programs also primarily offer assistance to older adults, excluding adults under 62. He suggested expanding the Earned Income Tax Credit to benefit more adults without children, along with removing the extra qualifications childfree adults must meet to access SNAP benefits.

Persons: —, childfree, Robert Greenstein, Greenstein Organizations: Service, Business, Brookings Institution, Brookings, The Hamilton, Security, SNAP, Social Security Locations: Brookings

☆ What we're looking for when Disney posts quarterly earnings on Tuesday morning
▼ + stars: | 2024-05-06 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Howard Schultz, Howard, Jim, Walt, Jim Cramer's Organizations: CNBC, Dow, Nasdaq, Federal, Starbucks, Management, Walt Disney, Deutsche Bank, Loop Capital, Disney

☆ It's not the FTC's place to rule on noncompetes, says U.S. Chamber of Commerce CEO
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's not the FTC's place to rule on noncompetes, says U.S. Chamber of Commerce CEOSuzanne Clark, US Chamber of Commerce CEO, joins 'Closing Bell Overtime' to talk the U.S. business climate, what the Fed is saying, the impact of inflation and more.

Persons: Suzanne Clark Organizations: Chamber of Commerce, of Commerce

☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ New FTC transcript reveals juicy details on how Jeff Bezos and other top Amazon execs used disappearing messages
▼ + stars: | 2024-05-03 | by ( Eugene Kim | ) www.businessinsider.com time to read: +11 min

In the past, he set Signal messages to automatically delete after one week. "I never would have used Signal under any circumstances with disappearing messages on or off to discuss any complicated business issues. Associated PressJEDI ContractThe FTC lawyer also showed Bezos a log of Signal messages that were used with the disappearing message feature activated. He said he "did not" know Signal messages were covered by those legal guidelines. The company was "unable to determine" why that's the case, but said it's possible Signal messages were deleted when they got new phones.

Persons: Jeff Bezos, Bezos, Mike Hopkins, —, Andy Jassy, Amazon's, Jassy, Donald Trump, there's, I'm, Jeff Blackburn, Hopkins, Blackburn, Blackburn wasn't, Blackburn's, Max Organizations: Federal Trade, Amazon, Business, FTC, Associated Press, Defense Department, Microsoft, Department of Defense, Blackburn, Bezos Locations: Bezos, Blackburn

☆ FTC accuses ex-Pioneer CEO of colluding with OPEC, blocks him from Exxon board seat
▼ + stars: | 2024-05-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The FTC filed a complaint alleging that Scott Sheffield attempted to collude with representatives of OPEC to reduce oil and gas output to increase prices at the pump and inflate Pioneer's profits. "The FTC has a responsibility to refer potentially criminal behavior and takes that obligation very seriously," spokesman Doug Farrar told CNBC. In response, Exxon agreed to keep Sheffield off its board, the oil major said in a statement Thursday. The FTC alleged that Sheffield repeatedly held private conversations with high-ranking OPEC representatives to assure them that Pioneer and its competitors in the Permian Basin were working to keep oil output artificially low. "Notwithstanding, Pioneer and Mr. Sheffield are not taking any steps to prevent the merger from closing," the company said in the statement.

Persons: Scott Sheffield, Doug Farrar, Exxon, Sheffield, Sheffield's, Lina Khan, — CNBC's Pippa Stevens, Mary Catherine Wellons, Lina Khan's Organizations: Federal Trade Commission, Natural Resources, OPEC, Exxon Mobil, Pioneer, FTC, Justice Department, Wall Street, CNBC, Exxon, Sheffield

☆ The $21 billion influencer industry has gone completely off the rails
▼ + stars: | 2024-05-01 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Influencer marketing is booming, and brands spend billions to promote products with a personal touch. But these days, the industry of influencer marketing is completely off the rails. Since 2016, the dollars driving the influencer marketing industry have ballooned from $1.6 billion a year to an estimated $21.1 billion in 2023, according to Influencer Marketing Hub. Marketers, brands, influencers, and platform companies all have opportunities to exploit one another to varying degrees of harm." It's not great for consumersDespite the money flying around, the FTC only provides basic guidelines about disclosure requirements for influencer marketing to protect consumers of their content.

Persons: —, Emily Hund, Hund, David Camp, Michael Jordan, George Foreman, Brooke Shields, Calvin Klein, isn't, It's, Kim Kardashian, influencer Chiara Ferragni, Lindsay Lohan, DJ Khaled, Naomi Campbell, Kardashian, Dylan Mulvaney, Bud Light, Ben Shapiro, Donald Trump Jr, Camp Organizations: Service, Business, Social Media, Harvard Business, CBS News, Nike, Salton, FTC, SEC, Consumer, NBC Locations: influencers, California

☆ Breaking down the impact of FTC's ban on non-compete agreements
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBreaking down the impact of FTC's ban on non-compete agreementsAlan Guarino, Korn vice chairman, joins 'Power Lunch' to discuss the FTC banning non-compete clauses and what it means for American workers.

Persons: Alan Guarino, Korn

☆ The FTC says Jeff Bezos and Amazon execs used Signal to talk business — and it wants to know more
▼ + stars: | 2024-04-26 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Amazon execs used messaging app Signal to discuss business matters, the Federal Trade Commission said. The agency wants to know if execs told Amazon staff to delete messages, and when to use Signal. AdvertisementAmazon's top executives used the encrypted messaging app Signal to discuss "sensitive business matters," the Federal Trade Commission said in a court filing on Thursday. The founder said, "Are you on signal messaging app? "Amazon also recognizes that sellers believe 'that it has become more difficult over time to be profitable on Amazon,'" the FTC filing stated.

Persons: execs, —, Jeff Bezos, Andy Jassy, David Zapolsky, Jeff Wilke, Dave Clark, Tim Doyle, Mike Hopkins, Carlo Bertucci, Amazon's, Zapolsky Organizations: Federal Trade Commission, Amazon, Service, FTC, Amazon MGM Studios

☆ Jason Furman on the case against student loan relief: We have an economy that hasn't landed softly
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJason Furman on the case against student loan relief: We have an economy that hasn't landed softlyJason Furman, Harvard’s Kennedy School of Government economics professor and former CEA chairman, joins 'Squawk Box' to discuss why he's against the Biden administration's student loan forgiveness proposal, why he believes the plan is poorly targeted and will make inflation worse, President Biden's budget proposal, FTC's ban on noncompete clauses, the Fed's interest rate outlook, and more.

Persons: Jason Furman, Biden's Organizations: Harvard’s Kennedy School of Government, Biden

☆ Google 'personifies' the culture shift happening across corporate America: The Verge's Alex Heath
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle 'personifies' the culture shift happening across corporate America: The Verge's Alex HeathAlex Heath, The Verge deputy editor, and Joanne Lipman, Yale University lecturer, join 'Squawk Box' to discuss the fallout from Google's firing of 50 employees after protests at company offices over a cloud computing deal with Israel, the broader shift in work culture across Big Tech and corporate America, FTC's ban on noncompete clauses, and more.

Persons: Alex Heath Alex Heath, Joanne Lipman Organizations: Google, Yale University, Big Tech Locations: America, Israel

☆ U.S. Chamber of Commerce, business groups sue FTC over ban on noncompete clauses
▼ + stars: | 2024-04-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

The U.S. Chamber of Commerce and several other business groups on Wednesday sued the Federal Trade Commission in Texas federal court over the commission's vote to ban noncompete clauses, which are used to block employees from leaving to work for competitors in the same industry. On Tuesday, the FTC voted to enact the ban on the basis that noncompete clauses stifle the efficiency of the labor market, hinder competition and can lead to higher prices for consumers. The business groups claimed that the FTC's ban, "breaks with centuries of state and federal law." In addition to the Chamber of Commerce, the Business Roundtable, Texas Association of Business and Longview Chamber of Commerce are all plaintiffs in the suit. The FTC suggested that instead of relying on noncompete clauses, companies should look to other safeguards of information, like nondisclosure agreements.

Persons: Lina Khan, Douglas Farrar Organizations: House Energy, Commerce, U.S . Chamber of Commerce, Wednesday, Federal Trade Commission, Federal, U.S . Chamber, Eastern District of Texas, Chamber of Commerce, Business Roundtable, Texas Association of Business, Longview Chamber, FTC, CNBC Locations: Texas, Eastern District

☆ The FTC is fighting for your right to job-hop
▼ + stars: | 2024-04-24 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe FTC wants to give Americans the freedom to job-hop without pesky noncompete contracts getting in the way. The Federal Trade Commission voted 3-2 on Tuesday to approve a nationwide ban on noncompete agreements, the agency announced in a press release. The move could help American workers make $300 billion more a year, the FTC has previously said. Companies can keep existing contracts for some senior executives, but that will only affect about 0.75% of workers, the FTC said.

Persons: —, pesky noncompete, Evan Starr, Lina M, Khan, Suzanne P, Clark Organizations: Service, Federal Trade Commission, FTC, Business, Employers, University of Maryland, New York Times, US, of Commerce, Commerce's, National Labor Relations Locations: California , Massachusetts, Illinois

☆ Amazon is not only customer-obsessed, but also competitor-obsessed: WSJ's Dana Mattioli
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon is not only customer-obsessed, but also competitor-obsessed: WSJ's Dana MattioliDana Mattioli, Wall Street Journal reporter and ‘The Everything War: Amazon’s Ruthless Quest to Own the World and Remake Corporate Power’ author, joins 'Squawk Box' to discuss Amazon's goal of total business dominance, the company's tactics against competitors, FTC's antitrust lawsuit against Amazon, and more.

Persons: WSJ's Dana Mattioli Dana Mattioli Organizations: Wall Street Journal, Amazon

☆ Republican House panel launches probe into Biden's FTC-DOJ task force on corporate pricing
▼ + stars: | 2024-04-16 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

"The timing of the Strike Force announcement, in an election year, raises the likelihood that political motivations rather than the interests of American consumers drove the action," House Oversight Committee Chair Rep. James Comer, R-Ky., said in the letter. The Strike Force is jointly led by the FTC and the Department of Justice, which have been at the front lines of the Biden administration's regulatory agenda over the past several years. Comer alleged in the letter that "this pattern" of blaming corporate-pricing practices for inflation "signals that the new FTC-DOJ Strike Force will be used as a political tool." But Biden's logic that companies are the ones responsible for high prices, not his economic agenda, could be taking hold with voters. A March survey found that respondents blamed recent price hikes on "large corporations taking advantage of inflation" more than Democratic policies.

Persons: Lina M, Khan, Bill Nelson, Joe Biden's, Lina Khan, Biden, James Comer, Jonathan Kanter, Comer, —, Biden's Organizations: Commerce, Science, NASA, Capitol, Republican, CNBC, Federal Trade, Strike Force, Force, U.S, FTC, Department of Justice, Biden, Kroger, Albertsons, DOJ Strike Force, Democratic Locations: Washington , U.S, Ky

☆ Meta considered paying users for data, lawsuit reveals. An economist said users should each get $5 a month for it.
▼ + stars: | 2024-04-09 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

AdvertisementMeta took issue with several parts of Economides' testimony, which remains under seal and had many specific references redacted from Meta's filing. In his testimony, Economides valued individual Facebook user data at least $5 a month per user, according to Meta's summation of it. In the present day, that would mean Meta paying out tens of billions each month for user data, as Zuckerberg said in fourth-quarter earnings that over 3.1 billion people use at least one Meta app each day. Meta disagreed and told the court that Economides' testimony was effectively "junk science" with "no real-world support" and should be thrown out. "No firm like Meta, in any market, has paid all its users as a competitive response—ever," lawyers for Meta wrote.

Persons: Meta, Mark Zuckerberg, Javier Olivan, Guy Rosen, Nicholas Economides, Economides, Zuckerberg, Kali Hays Organizations: Service, Facebook, Meta, Business, New York University, Google Locations: khays@businessinsider.com

☆ Jon Stewart says Apple asked him not to let FTC chair Lina Khan appear on his Apple podcast
▼ + stars: | 2024-04-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Jon Stewart says Apple once asked him not to have FTC Chair Lina Khan on an Apple podcast. He said he wanted to talk to Khan about AI on a podcast linked to "The Problem with Jon Stewart." AdvertisementJon Stewart says Apple once asked him not to have Federal Trade Commission Chair Lina Khan appear on a podcast linked to his Apple TV+ show. Stewart told Khan he had previously tried to have her appear on the podcast linked to "The Problem with Jon Stewart" to discuss AI, but Apple essentially blocked the move. FTC chair Lina Khan.

Persons: Jon Stewart, Apple, Lina Khan, —, Stewart, Khan, Graeme Jennings Organizations: Apple, Department of Justice, Service, Federal Trade, Amazon, CBS, DoJ, Business

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