CBDCs may disrupt financial systems: Fitch Ratings
Steve Kaaru, 22 May 2021
One of the world’s largest credit rating agencies believes that central bank digital currencies (CBDCs) could disrupt the current financial systems. In its latest report, Fitch Ratings looked into how CBDCs could impact the global financial system, including giving governments a new way to track financial data and new financial policy options.
Several central banks around the world are looking at CBDCs. Some like the Bahamas have already launched their sovereign digital currencies while others like China are in advanced development stages. Yet, others like the U.S. and the U.K. are still exploring the feasibility of a CBDC and what effect it would have on the financial system. Continue reading “Article: CBDCs may disrupt financial systems: Fitch Ratings”
California readies to prevent blackouts, but threats remain
ADAM BEAM, 19 May 2021
California’s top energy regulators on Tuesday said the state is better prepared to avoid last summer’s rotating blackouts, but they cautioned the power grid of the nation’s most populous state is still vulnerable to extreme heat waves that could force more outages later this year.
State officials say they have acquired an additional 3,500 megawatts of capacity ahead of a likely scorching summer that threatens to increase demand beyond what the grid can handle. That includes an additional 2,000 megawatts of batteries designed to store energy generated from renewable sources — like solar — that stop working when it gets dark.
In general, one megawatt of energy is enough to power hundreds of homes, depending on how it is generated. Continue reading “Article: California readies to prevent blackouts, but threats remain”
Reddit grows up on its way to an IPO
Nicolás Rivero, 17 April 2021
Reddit has traditionally taken a laissez-faire approach to policing content on its platform. The company hosts a loose federation of old-school internet forums, known as subreddits, which are each overseen by a team of volunteer moderators. Reddit sets certain baseline rules banning things like child porn, drug sales, and (as of 2015) harassment. But the rest is up to the users in each subreddit, who set their own community-specific norms and empower unpaid moderators to enforce them.
This is a starkly different moderation approach from Facebook and Twitter, which each set clear, granular, top-down rules in their terms of service and employ armies of contract workers and far-reaching algorithms to weed out noxious content. Reddit’s decentralized policy has become a liability in recent years, and may become even more of a drag as the company eyes an IPO. (Reddit recently hired Drew Vollero, who helped Snapchat go public in 2017, as its first-ever CFO to help prepare for the company’s debut on the stock market.) Continue reading “Article: Reddit grows up on its way to an IPO”
Jack Ma’s Double-Whammy Marks End of China Tech’s Golden Age
Bloomberg, 14 April 2021
(Bloomberg) — The full implications of Beijing’s rapid-fire moves against Jack Ma’s internet empire in recent days won’t be apparent for weeks, but one lesson is already clear: The glory days for China’s technology giants are over.
The country’s government imprinted its authority indelibly on the country’s technology industry in the span of a few days. In landmark announcements, it slapped a record $2.8 billion fine on Alibaba Group Holding Ltd. for abusing its market dominance, then ordered an overhaul of Ant Group Co. On Tuesday, regulators summoned 34 of the country’s largest companies from Tencent Holdings Ltd. to TikTok owner ByteDance Ltd., warning them “the red line of laws cannot be touched.” Continue reading “Article: Jack Ma’s Double-Whammy Marks End of China Tech’s Golden Age”
Could The U.K. Secretly Strip Encryption From WhatsApp?
Barry Collins, 11 April 2021
The U.K. government could secretly force Facebook to strip end-to-end encryption from apps such as WhatsApp, a civil liberties organization has claimed.
The U.K. government has waged a long campaign against end-to-end encryption in consumer apps because it makes interception of communications more difficult. End-to-end encryption thus facilitates crimes such as child abuse, politicians such as the U.K.’s Home Secretary, Priti Patel, have argued. Continue reading “Article: Could The U.K. Secretly Strip Encryption From WhatsApp?”
The Next ‘Gamestop’: How China or Russia Could Attack Our Financial System
Robert Carlson, Gray Gaertner, 16 March 2021
Last week, the dramatic rise and fall in the price of Gamestop demonstrated how vulnerable the stock market is to social media speculation. U.S. regulators should now turn their attention to a greater risk—that in the near future, China, Russia, or another adversary could coordinate an unwitting mob to harm the American financial system.
The potential for financial warfare follows from a playbook that China, and especially Russia, have drawn from repeatedly to meddle in U.S. domestic politics. First, foreign state agents have used social media to spread disinformation or stoke existing grievances. Second, they have counted on naive users to share the original posts, allowing the content to reach a larger audience. Finally, they fan the flames to provoke action.
In 2016 and 2020, Russian propaganda decreased U.S. voters’ trust in their candidates and the political system. During last year’s protests over race and policing, foreign bots amplified instances of both racial discrimination and violent protests, further polarizing American society. Following Joe Biden’s electoral victory in November, Russian agents embraced false allegations of fraud, providing the rationale for an armed mob to assault the Capitol Building. China spends at least $10 billion per year on its own influence operations through the United Front Work Department, which promotes pro-Beijing narratives overseas.
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Texas AG Probing Tech Giants Over Parler Ban
Jack Queen, 11 January 2021
Texas Attorney General Ken Paxton on Wednesday demanded tech giants including Google, Amazon and Apple hand over details about their content moderation policies after conservative social media site Parler was effectively booted from the web following last week’s deadly Capitol riot.
Paxton, a Republican who is leading a separate antitrust blitz against tech titans, also demanded information from Facebook and Twitter, saying the “seemingly coordinated deplatforming” of President Donald Trump and others raises First Amendment and competition concerns. Continue reading “Article: Texas AG Probing Tech Giants Over Parler Ban”
FB when it went public was a great deal all was great then as time went on the stock went lower and lower to around $18 down from $40+ The negative stories started on how the company had no idea how to make money. The real reason was the lockup period was ending for long term investors you knwo the people who invested early . So Wall St has this trick where they drive stock lower and when they sell ITS always at the lowest point so WALL ST can cover their shorts and then go LONG for the ride back up. AS soon as they sold at the lows around $18. The view on the street changed and all the stories were positive and the stock went to $200 . That’s another way naked shorting and short work together to pick your pocket Here is the data
Now if you follow most IPO the same pattern happens all the time The Naked short and the reports hit the street telling everyone insiders who invested
years ago are allowed to sell for the first time
This small online retail stock will plunge if Facebook takes its data ‘punch bowl’ away, says short-seller Andrew Left
Thomas Franck, 26 March 2018
Citron Research’s Andrew Left, who’s gained notoriety for successful bets against companies such as Valeant Pharmaceuticals, on Monday posted a new bearish report on Shopify. Shares of Shopify fell more than 3 percent after Left disparaged the relationship between Shopify and Facebook as an “unholy alliance,” based on the exchange of personal information collected by Facebook and sold to Shopify “entrepreneurs.”
Founded in 2004, Shopify’s software helps merchants run their businesses across a variety of platforms, including web, social media storefronts, and brick-and-mortar pop-up shops. It assists merchants in managing products, processing orders and analyzing customer trends.
Continue reading “Article: This small online retail stock will plunge if Facebook takes its data ‘punch bowl’ away, says short-seller Andrew Left”