![]() CEO Tony Xu told employees that he hired too aggressively in recent months, mistakenly anticipating that a pandemic-driven spike in demand would continue into 2022. DoorDash announced plans to lay off 1,250 corporate employees, or about 6% of its workforce, as part of a rightsizing effort underway at the delivery company, CNN reported. Roth said he believed his position was no longer needed because Musk dismissed rules designed to keep the platform safe for users. Yoel Roth, who led Twitter’s trust and safety team for about two years, said new owner Elon Musk ignored his unit’s guidance about the since-reversed rollout of an updated verification system, which triggered numerous fake accounts impersonating major brands. Twitter’s former head of trust and safety said Tuesday that his resignation earlier this month followed a breakdown in corporate governance at the social media outfit, the Wall Street Journal reported. Want to send thoughts or suggestions to Data Sheet ? Drop me a line here.Ī breakdown in trust. ![]() ![]() officials employed some discipline in their blitz on Big Tech. CMA approval of Microsoft’s $68.7 billion purchase of video game developer Activision Blizzard is hardly a slam dunk, either.Īt least for this week, though, U.K. scrutiny for their massively profitable mobile operating system duopoly, or Amazon, which stands accused of bullying third-party merchants in its e-commerce platform. In addition, leniency shown to low-margin music streamers likely won’t spill over to Apple and Google, currently under U.K. As part of the updated language proposed by Donelan, tech companies would still need to give users options for avoiding harmful online content and work to shield children from such content. ![]() The two decisions likely don’t signal a sea change within the U.K.’s hall of regulatory power.īritish policymakers are still pursuing aggressive new rules for policing online content, some of which go well beyond those established by U.S. “Consequently, it is unlikely that a competition intervention would improve outcomes overall, and release more money in the system to pay creators more.” “We have found that it is unlikely that the outcomes that concern many stakeholders are primarily driven by competition,” CMA officials wrote. To top it off, regulators said they have “not found evidence of substantial and sustained excess profits” by major record labels. officials found average royalty rates for artists and songwriters have increased over the past decade. In reaching their verdict, CMA officials noted that consumers have access to vast libraries of music and pay less for streaming than they did in the late 2000s. (The study excluded views of music videos through YouTube.) regulators concluded after a nearly yearlong market study that the industry remains sufficiently competitive-even though Spotify, Amazon, and Apple account for roughly 90% of the monthly active users on streaming platforms in the U.K. officials have conducted investigations into several high-profile mergers, including the proposed Microsoft–Activision Blizzard acquisition and Nvidia’s since-abandoned plan to purchase Arm started probes of potential market dominance by Apple, Amazon, and Google ordered the unraveling of Meta’s acquisition of Giphy, despite minimal pushback from other foreign regulatory bodies and introduced long-awaited online safety legislation aimed at increasing content moderation by tech platforms. officials, who have moved aggressively in recent years to curtail the growing might of American tech giants. The pair of proclamations mark rare moments of restraint by U.K. The second statement arrived a few hours later from the U.K.’s top antitrust regulatory body, the Competition and Markets Authority, or CMA, which found no need for major government intervention in the highly concentrated music streaming industry. The first announcement came courtesy of the U.K.’s new digital secretary, Michelle Donelan, who said she had removed language forcing large tech companies to moderate “legal but harmful” content from a sweeping online safety bill under consideration. But two pronouncements Tuesday show the Brits have their limits, delivering a dash of hope to tech giants fearful of dramatic overseas intervention.
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