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☆ Illinois passes a law that requires parents to compensate child influencers
▼ + stars: | 2023-08-16 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

A family businessThis picture shows Illinois Senator Dave Koehler with teenager Shreya Nallamothu, who helped inspire new legislation protecting child influencers. Although children are predominantly featured in these monetized videos, parents have had no legal obligation to give them any portion of the earnings. “But we know with the explosion of social media that parents are using it to monetize kids being on videos. That California law required parents to set aside a portion of 15% of child earnings in a blocked trust account that the child actor could access after the age of 18. “Even though Illinois is the first state to pass such a law, this legislation is a long time coming,” Maddox said.

Persons: “, ”, influencers, ” Nallamothu, Dave Koehler, Pritzker, ” Koehler, Shreya Nallamothu, Jackie Coogan’s Law, Charlie Chaplin, swindled, Jessica Maddox —, —, ” Maddox, Maddox, ” Chris McCarty —, Washington State —, ” McCarty, “ I’m, it’s Organizations: CNN, Illinois Gov, Child Labor, The University of Alabama Locations: Normal , Illinois, Illinois, California, Washington, Washington State

☆ OpenAI says AI tools can be effective in content moderation
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 15 (Reuters) - ChatGPT creator OpenAI made a strong case for the use of AI in content moderation, saying it can unlock efficiencies at social media firms by speeding up the time it takes to handle some of the grueling tasks. OpenAI, which is backed by Microsoft, said its latest GPT-4 AI model can reduce the process of content moderation to a few hours from months and ensure more consistent labeling. "The process (of content moderation) is inherently slow and can lead to mental stress on human moderators," OpenAI said. "With this system, the process of developing and customizing content policies is trimmed down from months to hours." Separately, OpenAI CEO Sam Altman said on Tuesday that the startup does not train its AI models on user-generated data.

Persons: Dado Ruvic, OpenAI, Sam Altman, Jaspreet Singh, Anil D'Silva Organizations: REUTERS, Microsoft, Google, Facebook, Thomson Locations: Bengaluru

☆ CFPB to crack down on data brokers, Chopra says at White House event
▼ + stars: | 2023-08-15 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — The White House on Tuesday held a roundtable examining potential harmful data broker practices as part of an overall strategy to protect Americans' privacy. The CFPB's new rule proposals will build upon the FCRA to hold data brokers that sell highly sensitive information more accountable. One proposal, said Chopra, will define a data broker dealing in certain types of consumer data as a consumer reporting agency and the brokers' sale of data as a consumer report. Another will clarify whether credit header data, the portion of a credit report that contains identifying information, can be considered a covered consumer report. "We applaud the steps the Consumer Protection Financial Bureau is taking to stop data brokers from unlawfully collecting and selling millions of Americans' sensitive data," she said.

Persons: WASHINGTON, Chopra, There's, Arati Prabhakar, Lael Brainard, Lina Khan, Brian Boynton, Khan, Brainard Organizations: Consumer, Fair, White, Office of Science, Technology, National Economic Council, Federal Trade, Justice Department's Civil, FTC, Protection

☆ A 30-something who used a side hustle to pay off $100,000 of debt explains what we get wrong about passive income
▼ + stars: | 2023-08-15 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com time to read: +4 min

A passive income stream can be a great way to generate extra money to pay down debt or save. Melissa Jean-Baptiste learned first-hand that passive income is not that "passive," especially in the beginning. Jean-Baptiste learned for herself that "creating a stream of passive income is hardly ever simple or passive." Although passive income is often not 100% passive, at least at first, the value of a side hustle or an additional income stream is undeniable. Jean-Baptiste writes, "the passive income I generated was critical in my debt-payoff journey because I could pay more towards my debt and it gave me more options."

Persons: Melissa Jean, Baptiste, Jean Organizations: Service Locations: Wall, Silicon

☆ Chinese tech giant Huawei reports tepid consumer revenue growth for the first half of 2023
▼ + stars: | 2023-08-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Chinese tech giant Huawei on Friday reported 2.2% year-on-year growth in its consumer business revenue for the first half of the year. At 103.5 billion yuan ($14.27 billion) in first six months of 2023, Huawei's consumer revenue was less than half what the segment had generated during the same period in 2019 and 2020. watch nowCloud services brought in revenue of 24.1 billion yuan, while intelligent automotive solutions — whose products include tech for new energy vehicles — saw revenue of 1 billion yuan in the first six months of 2023. Those sales are generally counted as part of the consumer business. Looking for smartphone growthOverall revenue growth in the first half of 2023 comes off a low base.

Persons: Kevin Frayer, Donald Trump Organizations: Getty, Huawei, CNBC Locations: Dongguan, Shenzhen, China, BEIJING, U.S

☆ How to Save for a House
▼ + stars: | 2023-08-09 | by ( Michele Lerner | ) www.wsj.com time to read: +10 min

By Michele LernerThe need to save looms large in the home buying process. 5 strategies to save for a houseZillow estimates that it would currently take the typical household saving 5% of their income close to nine years to save a 10% down payment on a typical house. For example, if you’re aiming for $50,000 down on a $500,000 home in three years, you’ll need to save nearly $1,400 a month. That means the fastest way to save is often to cut costs on the place you live. However, he says you should at least save the minimum to earn any 401(k) matching contributions your employer offers and have a plan to increase your contributions after you buy a house.

Persons: Michele Lerner, you’re, ”, Isabel Barrow, Barrow, Cash, Tom Mathews, Matt Steenson, ” Barrow, Mathews, —, you’ve, “, ” Steenson, Steenson Organizations: National Association of Realtors, NAR, Edelman, News Corp, The, Street, PNC Bank, Federal Deposit Insurance Corp Locations: Alexandria, Va, Atlanta, Pittsburgh

☆ Want to work in tech? Don't work in tech.
▼ + stars: | 2023-08-08 | by ( Tien Tzuo | ) www.businessinsider.com time to read: +8 min

I advise young engineers today to work for Fortune 500 companies, not Big Tech. Today, however, he's working on a project for a different kind of tech company: John Deere. There is no magic at Big Tech companies, there's only money. And Fortune 500 companies simply don't have the luxury of buying talent just to park it. Today, all companies are tech companies, and they all want to see more recurring revenue in their business models, which means they need smart, restless engineers.

Persons: moonshots, Jon Weisz, John Deere, Weisz, Peter Thiel, that's, Philips, Ford, Tien Tzuo, Tzuo Organizations: Fortune, Big Tech, Corporations, Oracle, Apple, Nike, Honeywell, Volvo, Boeing, Whirlpool, Technologists, Facebook, Consumer, SEI, Microsoft, EV, Cornell, Stanford Locations: Columbia, Baltimore, Hulu, Atlanta, Salesforce

☆ Palantir's A.I. ambitions divide analysts. A bull and bear make their cases
▼ + stars: | 2023-08-08 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Alex Karp, chief executive officer of Palantir Technologies Inc., speaks during the 2023 CERAWeek by S&P Global conference in Houston, Texas, US, on Tuesday, March 7, 2023. Palantir Technologies raised its annual revenue target on Monday as it sees an opportunity to commercialize AI, but not all analysts are convinced. On Monday, CEO Alex Karp said Palantir's aim is to make money from AI, instead of merely producing tools that write computer-generated poetry. "We will figure out how to monetize it," Karp said, referring to Palantir's artificial intelligence platform, or AIP. Dan Ives, managing director at Wedbush Securities, is bullish on Palantir's AI ambitions.

Persons: Alex Karp, Karp, Dan Ives, That's, Ives, Palantir Organizations: Palantir Technologies Inc, P Global, Palantir Technologies, AIP, Wedbush Securities, U.S . Special Operations Command Locations: Houston , Texas, CNBC's

☆ Meta's Threads will soon have search and web functions, Zuckerberg says
▼ + stars: | 2023-08-04 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

Meta's Twitter-like Threads app will soon get a search function and be available to access via the web. In a Threads post on Friday, Meta CEO Mark Zuckerberg said the new features will be "coming in the next few weeks." "A good week for Threads," Zuckerberg wrote. Last week, Zuckerberg said on Meta's earnings call that he's "quite optimistic" about the future of Threads and that it was built by a small team. "Lots of work ahead but excited about the team's pace of shipping," Zuckerberg wrote on Friday.

Persons: Mark Zuckerberg, Zuckerberg, Elon Musk Organizations: Twitter, CNBC, Meta

Discord has laid off 4% of its staff, a spokesperson confirmed to Insider. The August layoffs impacted Discord's marketing team heavily, a source familiar with the matter said. The company is undergoing a reorganization of "some business units." Discord laid off around 4% its staff on Thursday, a company spokesperson confirmed to Insider. Several employees who identified as Discord staffers working on graphic design and entertainment partnerships posted about the layoffs on LinkedIn and Twitter.

Organizations: The New York Times

☆ Amazon CEO Jassy's cost cuts deliver investors biggest profit beat since 2020
▼ + stars: | 2023-08-03 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon delighted investors on Thursday, posting earnings of 65 cents a share, blowing past estimates of 35 cents a share. In Jassy's prepared remarks at the start of Thursday's earnings call, cost cuts were one of his central themes. The broad-based changes under Jassy have left the company less dependent on its cloud business, Amazon Web Services, for profits. In the second quarter, Amazon was able to expand its overall margin while AWS's profit margin declined to 24.2% from 29% a year earlier. But at only 12% year-over-year growth, the cloud business is seeing its slowest expansion since Amazon began breaking out its revenue in 2015.

Persons: Andy Jassy, Jeff Bezos, he's, Bezos, Jassy, Jassy's, Amazon Organizations: New York Times, Amazon, North America, Amazon Web, AWS Locations: New York City, riskier, North, America

☆ Troubled health name bounces after strong quarter and guidance. Here's our view on the stock
▼ + stars: | 2023-08-03 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Another possible catalyst is the monetization of BHC's Bausch + Lomb (BLCO) stake. Bausch + Lomb update On the earnings release, management highlighted a change in thinking about how to handle their stake in Bausch + Lomb. We'll be on the lookout for more information on the Bausch + Lomb situation in the coming days. Guidance BHC management raised their full-year revenue guidance for 2023 while reaffirming their adjusted EBITDA outlook. Excluding Bausch + Lomb, the team now expects full-year revenue to be in the range of $4.5 billion to $4.65 billion.

Persons: it's, Refinitiv, BHC's Bausch, Bausch, We'll, Generics, Jim Cramer's, Jim Cramer, Jim, Rafael Henrique Organizations: Health, Bausch Health, Management, Bausch Health Companies, BHC's, Dentistry, CNBC Locations: BHC, Bausch, East, Africa, Canada, Asia, China

☆ Republicans are still content with Twitter, despite months of tumult under Elon Musk and a bizarre 'X' rebrand
▼ + stars: | 2023-08-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Republicans are still sticking with Twitter, despite the platform's challenges and the "X" rebrand. "He's got a vision that some share, and some don't," Rep. Nancy Mace of South Carolina said of Musk. But even Mace and Vance don't seem to know what to make of the "X" re-brand. "Seems fine, Twitter seemed fine, don't really care." "I didn't really like Twitter before, I don't really like Twitter now," said Rep. Dan Crenshaw of Texas, who described himself as "exhausted" with the platform.

Persons: Sen, JD Vance, Nancy Mace, Elon, Instagram's, —, Musk's, Ohio, Vance, that's, Hunter, He's, Mace, I've, Vance don't, Chip Roy, Roy, Mitt Romney, doesn't, Romney, Pierre Delecto, coy, Dan Crenshaw, Crenshaw, Tom Tiffany, Tiffany, they've Organizations: Twitter, Service, Capitol, Musk's, Caucus, Democratic, Facebook Locations: Wall, Silicon, South Carolina, Texas, Utah, Dan Crenshaw of Texas, Wisconsin

☆ Meta's stock just wrapped up its ninth straight monthly gain as Wall Street cheers cost cuts
▼ + stars: | 2023-07-31 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +5 min

In this article META Follow your favorite stocks CREATE FREE ACCOUNTMark Zuckerberg, CEO, Meta Platforms, in July 2021. Kevin Dietsch | Getty Images News | Getty ImagesA year ago, Meta's stock was in the midst of a nosedive as Wall Street grew concerned that threats to the business were increasingly existential. Despite slipping on Monday, Meta's stock climbed 11% in July, wrapping up its ninth straight month of gains, by far the longest such stretch since Facebook's IPO in 2012. watch nowMeta has been the second-best performing stock in the S&P 500 this year, behind only Nvidia . Then came the cost cuts and Zuckerberg's promise early this year that 2023 would be the "year of efficiency."

Persons: Mark Zuckerberg, Kevin Dietsch, Mark Zuckerberg's, Zuckerberg, Frances Haugen, Haugen's Organizations: Meta, Getty, Facebook, Nvidia, Apple, Nurphoto Locations: Ukraine, Russia, China

We are buying 225 shares of GE Healthcare (GEHC), at roughly $76.84 each, and 45 shares of Microsoft (MSFT), at roughly $334.26 apiece. The first position we are adding to is GE Healthcare Technologies . GE Healthcare fared much better than Dutch peer Phillips, which last week said its orders fell 8% in the second quarter. The difference in the two order rates suggests GE Healthcare is gaining market share. The medical-technology firm is seeing good momentum in its business, partly because many health-care providers are investing to improve patient care and productivity.

Persons: Jim Cramer's, Johnson, Phillips, what's, We've, we've, Jim Cramer, Jim, Spencer Platt Organizations: GE Healthcare, Microsoft, GEHC, Johnson, GE Healthcare Technologies, GE, Electric, CNBC, Traders, New York Stock Exchange, Getty Locations: –, New York City

☆ Morgan Stanley upgrades Adobe, cites A.I. acceleration
▼ + stars: | 2023-07-31 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Morgan Stanley thinks Adobe can benefit from artificial intelligence-powered products even more. The bank upgraded Adobe to overweight from equal weight on Monday and hiked its price target to $660 per share from $510. Morgan Stanley's new forecast now implies nearly 25% upside. "Importantly, GenAI products like Firefly coupled with enhancements to flagship applications renew our confidence in a robust product innovation engine at Adobe," Weiss said. Weiss also pointed to the popular Adobe Creative Cloud, which could push the company's earnings-per-share compounded annual growth rate to toward 17% from 2022 to 2025.

Persons: Morgan Stanley, Adobe, Morgan Stanley's, Keith Weiss, Weiss, — CNBC's Michael Bloom Organizations: Adobe

☆ Palantir stock up 10% as company rides A.I. craze
▼ + stars: | 2023-07-31 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Palantir, a data analytics company best known for its work with the U.S. government's defense and intelligence agencies, offers a number of AI-powered services for organizations across public and private sectors. Shares of Palantir popped 10% Monday as the company continues to capitalize on investors' hopes for its artificial intelligence software ahead of its earnings report next week. In an interview with CNBC's "The Exchange" Friday, Dan Ives, managing director of equity research at Wedbush Securities, described Palantir as "the [Lionel] Messi of AI," referencing the pro soccer player. Ives said there is a "golden path" for the company to monetize, adding in a note that Palantir has built "an AI fortress that is unmatched." "This is an arms race of a different kind, and it has begun," Karp wrote.

Persons: Alex Karp, CNBC's, Dan Ives, Lionel, Messi, Ives, Palantir, Karp, William Blair, SPACs Organizations: Palantir Technologies Inc, P Global, U.S, Wedbush Securities, New York Times, Palantir Locations: Houston , Texas, A.I, U.S

☆ Elon Musk reactivates Kanye West’s Twitter account following X rebrand
▼ + stars: | 2023-07-30 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

CNN —X, formerly known as Twitter, has reinstated Kanye West’s account on the social media platform. West will not be able to monetize his account, and no ads will appear next to his posts, the company told the Wall Street Journal on Saturday. The musician’s account was suspended in December for violating the platform’s rules on inciting violence. It’s not clear whether West submitted an appeal, or if something else prompted his account’s reactivation. CNN has reached out to Twitter and a representative for West but has not received a response.

Persons: Kanye, West –, Ye, West, David, Elon Musk, ”, Musk, It’s Organizations: CNN, Wall, Adidas, Twitter, West

☆ Elon Musk just reinstated Kanye West's Twitter, or X, account 8 months after ban for offensive tweets
▼ + stars: | 2023-07-30 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +2 min

Kanye West, legally known as Ye, has been reinstated on Twitter, or X as it is now known. West, known as Ye, was banned for a second time in December after a string of antisemitic remarks. Ye won't be able to monetize his account and ads won't be placed alongside his posts, reported the WSJ. According to the Wall Street Journal, Ye won't be able to monetize his account and advertisements will not be placed alongside his posts. Ye previously had his account restricted in October 2022 after making comments about Jewish people which breached the platform's guidelines.

Persons: Kanye, Ye, David . Ye, Alex Jones, Adolf Hitler, Elon Musk, X Organizations: Twitter, Service, Wall Street, Adidas Locations: West, Wall, Silicon

☆ Musk's X social media platform reinstates Kanye West's account
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +2 min

July 29 (Reuters) - Social media platform X reinstated account of Ye, the artist formerly known as Kanye West, on Saturday, after it was suspended nearly eight months ago because the rapper had violated the platform's rules prohibiting incitement to violence. Ye's account now shows his last post from Dec. 1, a day prior to when his account was suspended on platform X, the new name owner Elon Musk has given Twitter. Ye won't be eligible to monetize his account on X, and advertisements won't appear next to his posts, the Wall Street Journal reported on Saturday, citing the social media platform. The social media platform did not immediately respond to Reuters' request for comment. After Ye went on a string of antisemitic rants in interviews and on social media he lost his partnership with Adidas (ADSGn.DE) and Gap (GPS.N) for Yeezy products.

Persons: Ye, Elon Musk, David . X, Musk, Donald Trump's, Trump, Baranjot Kaur, Alistair Bell Organizations: Wall Street, Reuters, Twitter, Adidas, Thomson Locations: Bengaluru

☆ Two Big Tech names and a luxury retailer made headlines. Here's our take on each
▼ + stars: | 2023-07-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Club holdings Meta Platforms (META), Microsoft (MSFT) and Estee Lauder (EL) all made headlines Thursday surrounding solid quarterly earnings, regulatory challenges and analyst downgrades. The Club remains highly bullish on these two Big Tech names, while continuing to muddle through with our embattled China-exposed cosmetics-retail play. Here's the latest developments at Meta, Microsoft and Estee Lauder — along with our take on the news. META YTD mountain Meta Platforms Inc. (META) year-to-date performance. Shares of Estee Lauder closed down 2.6% Thursday, at roughly $173 apiece.

Persons: Estee Lauder, downgrades, Estee Lauder —, Mark Zuckerberg, It's, Jeff Marks, Lauder, Jefferies, it's, Jim Cramer's, Jim Cramer, Jim, Rafael Henrique Organizations: Meta, Microsoft, Big Tech, Inc, Union, EU, Wall, CNBC, Getty Locations: China, Asia

July 27 (Reuters) - Reels, Meta Platforms' (META.O) answer to viral short-form video app TikTok, elicited eyerolls when it launched in 2020 and was regarded as yet another example of Meta copying a popular rival. The number of Reels video plays on Facebook and Instagram now top 200 billion per day, up from 140 billion last fall. One reason for Reels' growth is that Meta's ad platform makes it seamless for advertisers to place their promotions on the feature, said Debra Aho Williamson, a principal analyst at Insider Intelligence. More than three-quarters of Meta's advertisers are placing ads on Reels, said Susan Li, Meta's chief financial officer. TikTok and its famous content recommendation algorithm remains the leader when it comes to time spent on social media apps.

Persons: Meta, Justin Osofsky, Instagram, TikTok, Osofsky, Mark Zuckerberg, Debra Aho Williamson, Susan Li, Zuckerberg, Meta's, Li, Sheila Dang, Katie Paul, Peter Henderson, Jamie Freed Organizations: Facebook, Meta, Intelligence, Insider Intelligence, Thomson Locations: Austin, New York

☆ Meta's stellar quarter shows Zuckerberg can both monetize and cut costs
▼ + stars: | 2023-07-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

But the company delivered on those lofty expectations with a quarter that was the best among the group so far. Taken together, the company has been able to significantly accelerate revenue growth. Coupled with rebounding operating margins, the stock is now more deserving of a so-called growth stock multiple instead of the "value" label investors had attached to the firm last year. But for now, Zuckerberg has a pass because, to his credit, Meta's cost structure has been reduced significantly this year. After buying back $9.22 billion worth of stock in the first quarter, Meta only repurchased $793 million in the second quarter.

Persons: Meta, Mark Zuckerberg's, Zuckerberg, Susan Li, It's, Elon, Jim Cramer's, Jim Cramer, Jim, Stefani Reynolds Organizations: Revenue, Meta, Facebook, Microsoft, Labs, Reality Labs, Twitter, repurchases, CNBC, AFP, Getty Locations: U.S, Canada, Washington ,

☆ US oil M&A jumps as private equity unloads shale assets
▼ + stars: | 2023-07-25 | by ( Gary Mcwilliams | ) www.reuters.com time to read: +2 min

HOUSTON, July 25 (Reuters) - U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals. The surge was due in part to energy focused private equity firms EnCap Investments and NGP Energy Capital selling off a combined six portfolio companies. In total, $14 billion in private equity-owned assets have changed hands this year, Enverus said. Private equity firms have moved away from oil deals, with only 10 new exploration and production firm investments this year compared to 100 per year last decade, Enverus said. Most M&A was in the top U.S. shale field as companies looked to add oil acreage, Enverus' Dittmar said.

Persons: Enverus, Andrew Dittmar, Jon Platt, Baker Botts, Dittmar, Gary McWilliams, Nick Zieminski Organizations: EnCap Investments, NGP Energy Capital, Civitas Resources, PDC Energy, Thomson Locations: U.S, Dittmar . U.S

Insider spoke with influencer marketing experts and creators about sponsored content on Threads. Within two days of Threads' launch on July 5 , certain brands and influencers started posting paid, sponsored content. She's since posted more sponsored content to Threads. Hulu worked with creator Adam Rose on a sponsored Threads post. Some creators, like travel creator Jessica Ufuoma, are turning down sponsored content requests from brands for this reason.

Persons: influencers, Adam Rose, Kristen Bousquet, I've, Bousquet, Hulu, Krishna Subramanian, Amber Venz, Alessandro Bogliari, Ayomi Samaraweera, Meta, Rose, Brittany Mehciz, Hulu's, Thomas Walters, Ajai Guyot, Guyot, it's, Elon Musk, Ryan Detert, Matt Navarra, who's, what's, Elon, Navarra, Meta's, Instagram, Sooraj Saxena, he's, Sydney Bradley, Taryn Hicks, Jessica Ufuoma, collabs Organizations: She's, Brands, Meta, Creators, Hulu, Dollar, Amazon, Twitter, Sydney Locations: Europe

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