Login announced today that it now expects wittiness for the second quarter ending June 30 will fall short of previous expectations. "We had hoped to have more clever introductions, but found our sense of humor was offset by difficult market conditions," Axios' Ina Fried said in a statement.
Illustration: Sarah Grillo/Axios
The privacy bill signed into law in California on Thursday won’t settle the global fight over privacy, but it does usher in a new phase that could lead to a new national model for regulating data online, Axios' David McCabe reports.
What's happening: The bill was drafted and passed quickly, with even the bill's authors saying there may be additional changes and clarifications before it goes into effect. “If possible, we could find some fixes this year,” said Ed Chau, member of the California Assembly. “That’s my hope, but no promises.”
As it stands now, the law lets users:
What’s not settled:
1. Whether this bill sets a standard, as some privacy advocates hope since California's size can make it a trendsetter when it comes to policy.
2. Whether Silicon Valley can change it before 2020. Multiple tech industry sources said that companies will push for alterations to the bill.
3. Whether this spurs any action in Washington. The Trump administration is exploring ways to create a less restrictive counterweight to Europe’s GDPR privacy rules, in consultation with business groups. California is on the White House’s mind.
The big picture: Policymakers around the globe — in Washington, Brussels and now Sacramento — are all articulating different visions of how consumer data should be handled online. There may only be one internet, but there are many jurisdictions, and tech's colossal companies must deal with all of them.
Another way of gauging the law is to look at who is lauding it and who is condemning it.
"We are thrilled that it passed today. This is an important first step towards creating comprehensive privacy legislation covering all Americans, and we look forward to working with lawmakers, advocates and industry to make that happen."
"Today was a huge win and gives consumer privacy advocates a blueprint for success. We look forward to working together with lawmakers across the nation to ensure robust data privacy protections for all Americans."
"It is critical that the business community, consumer groups, and the legislature work together over the next 18 months to improve this law."
"While today’s law marks some improvements to an overly vague and broad ballot measure, it came together under extreme time pressure, and imposes sweeping novel obligations on thousands of large and small businesses around the world, across every industry. We appreciate that California legislators recognize these issues and we look forward to improvements to address the many unintended consequences of the law."
“Concern for privacy is at an all-time high in the aftermath of the Cambridge Analytica scandal, and yet California has enacted a law that utterly fails to provide the privacy protections the public has demanded and deserves. Nobody should be fooled to think AB 375 properly protects Californians’ privacy."
Illustration: Rebecca Zisser/Axios
When Facebook bought Instagram for $1 billion back in 2012, its goal was to ensure that it was the social network of choice for another generation.
Now, as my colleague Sara Fischer reports, that bet is starting to pay off. Instagram is surging as growth at the core network is tapering off. Bloomberg Intelligence recently valued Instagram at $100 billion, making the once-hefty price tag seem like a steal.
Go deeper: Read Sara's full story.
Niantic, the creator of Pokémon Go, Ingress and a forthcoming Harry Potter title, on Thursday detailed its plans to open its augmented reality game engine to others. It also announced it has bought Matrix Mill, a London-based startup.
Seeing is believing: The best way to appreciate where the company is headed on AR is to check out the three demo videos it released Thursday. Especially cool is the first one, which shows Pokémon characters peeking out from real world objects.
As you know, five people were killed yesterday in the newsroom of the Capital Gazette in Annapolis, Maryland.
And you can learn more about each of those who died here.