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Hyperscalers Face Increased Capex Scrutiny Post-Alphabet Report
Facebook CEO Mark Zuckerberg met with Microsoft CEO Satya Nadella at the “Tech for Good” Summit in Paris on May 23, 2018. The event, held at the Elysee Palace, also saw attendance from other guests. Historically, Alphabet has been a dominant player on Wall Street among hyperscalers.
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EU: Meta’s Instagram, Facebook Designs Breach Laws, Deemed ‘Addictive’
The EU has preliminarily found Meta’s Facebook and Instagram in violation of digital laws due to addictive design features like infinite scroll and autoplay, potentially harming user well-being. The Commission cited insufficient risk mitigation, particularly for minors. Meta disputes the findings, highlighting its “Teen Accounts” and safety measures, while facing potential fines up to 6% of global turnover. This follows previous EU and US regulatory actions targeting social media’s impact on youth.
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Meta Fined $375M for Violating New Mexico Child Exploitation Laws
A New Mexico jury found Meta, parent company of Facebook and Instagram, liable for nearly $400 million in civil damages. The state accused Meta of failing to protect minors from online predators and violating consumer protection laws. The verdict followed evidence suggesting Meta knew its products harmed children and prioritized profits over safety. Meta plans to appeal, while the case moves to a phase addressing public nuisance and potential product design changes.
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Meta Removes Facebook Page Allegedly Targeting ICE Agents
Following DOJ engagement, Meta removed a Facebook group allegedly used to target ICE agents. Attorney General Bondi stated the DOJ will engage tech companies to eliminate platforms inciting violence against law enforcement. Meta cited “Coordinating Harm” policies. Apple and Google also removed related apps, sparking debate over free speech vs. public safety. ICEBlock’s creator criticized the removal as a constitutional rights suppression. The situation highlights the challenges tech platforms face balancing content moderation and civil liberties.