As Uber eyes going public next year, CEO Dara Khosrowshahi tried to dispel at TechCrunch's Disrupt conference the notion that his company's unprofitability and continued losses would be a problem.
"I think that investors are not as short term as people make them out to be... The market is willing to pay for growth."
Why it matters: A growing number of tech companies have eschewed going public (or for as long as possible) to avoid quarterly scrutiny by investors, pressure to generate profits and meet quarterly expectations.
Heavyweight advances in artificial intelligence have typically come from two sources: academia and the tech industry. But beneath a mostly friendly surface is a steaming rift, with companies accused of holding up the field's advancement.
Why it matters: At a time of a fierce U.S.-Chinese rivalry for AI supremacy, academic critics accuse Big Tech of luring away university talent with high-dollar contracts, then focusing research not on big scientific questions, but on what bolsters their bottom line.
Twitter announced Thursday that it has permanently banned conspiracy theorist Alex Jones and Infowars from its platform, citing abusive behavior.
This comes weeks after Jones was banned or suspended by other major tech companies — like Facebook, Apple, and YouTube. Twitter initially hesitated to suspend or ban Jones, arguing that he hadn’t violated the company's policies, prompting fierce backlash from users. The company eventually suspended him for seven days.
A top business lobby released a set of guidelines that it said could inform the development of new federal privacy rules.
Why it matters: The proposal from the U.S. Chamber of Commerce mark its full entry into the debate over privacy and reflect ideas that are palatable to the business community.
The European Commission has concluded that Apple's purchase of Shazam, a listening app that identifies song titles, would not threaten competition in Europe.
The big picture: The antitrust probe was launched in April to determine whether Apple could use data gathered by Shazam against competitors of its Apple Music streaming service. The extra scrutiny demonstrates how Europe has started to view data as a key asset when it comes to approving deals.
Facebook plans to build a $1 billion, renewable energy-powered data center in Singapore as soon as 2022, reports the WSJ.
Why it matters: This will be Facebook's first data center in Asia, which hosts 40% of the tech giant's 2.23 billion monthly active users. The decision comes as other countries like China and India demand user data be stored domestically. Per the WSJ, Facebook cited Singapore's impressive infrastructure, skilled workforce and business-friendly government as the main factors in its decision.
Attorney General Jeff Sessions will meet with state attorneys general this month "to discuss a growing concern that these companies may be hurting competition and intentionally stifling the free exchange of ideas on their platforms," Axios' David McCabe reports.
Why it matters: The unexpected Justice Department statement raises the prospect of antitrust action against the companies.
Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey stayed out of trouble on Capitol Hill on Wednesday, with fewer-than-expected heated exchanges with lawmakers over content bias and election interference issues.
Yes, but: Between the two hearings, the Justice Department dropped a surprise announcement: Attorney General Jeff Sessions will meet with state attorneys general this month "to discuss a growing concern that these companies may be hurting competition and intentionally stifling the free exchange of ideas on their platforms."
Just four out of 10 Americans trust tech companies to prevent foreign interference in the 2018 midterm elections — a significant loss of confidence from both parties since a February survey, according to a new Axios/SurveyMonkey poll.
Between the lines: Democrats have lost more trust than Republicans. That's notable since Democrats have generally been bigger defenders of the platforms, which have been sharply criticized for exhibiting anti-conservative bias in moderating content. At a Wednesday hearing, Senate Intelligence Committee members from both parties pressed Facebook and Twitter executives to do more to prevent problems in November.
