Twitter disclosed Tuesday that it "unintentionally" used some email addresses and phone numbers for advertising even though the information was provided for account security.
Why it matters: It's the latest example of a tech company misusing user data.
Sony said Tuesday that its next game console, the PlayStation 5, will arrive by next year's holiday shopping season. It also announced the PS5's controllers will feature advanced haptics with variable tension, so shooting a bow and arrow feels more realistic, for example.
Why it matters: Though eagerly awaited by hard core gamers, the new PlayStation will face competition not just from Microsoft's next Xbox, but also from streaming services like Google's Stadia.
SoftBank Vision Fund isn't just the largest private equity fund ever raised, at $100 billion. It's also one of the most complicated.
How it works: All outside limited partners are promised a 7% annual coupon on their invested capital, which through June had come out to $1.6 billion. And some of that $1.6 billion has come from those same limited partners, in a bizarre bit of capital carousel. The result, from a practical perspective, is that SVF might not really invest $100 billion into outside tech companies.
A chorus of civil rights and privacy groups is calling on U.S. cities to end partnerships with Amazon's Ring camera unit, saying the deals raise a range of privacy, discrimination and other concerns.
Why it matters: Per the Washington Post, more than 400 agencies have deals with the Amazon subsidiary.
TCG, a venture affiliate of The Chernin Group that invests in media, entertainment, and tech businesses, has doubled down on its investment in MeatEater, the hunting brand that hit mainstream via its hit show on Netflix beginning in 2015.
Why it matters: Outdoor entertainment is a growing media category that TCG thinks is underserved, and can be monetized well through selling branded merchandise. "There's several billion dollars a year spent just from Americans in pursuit of their outdoor activities on commerce," says Mike Kerns, President of Digital at The Chernin Group.
iTunes is off to the big app farm in the sky, with the latest Mac update officially shuttering the program, AP reports.
The big picture: iTunes revolutionized the way users consume music, promoting the sales of songs at often 99¢ a piece and allowing individuals to easily organize playlists on their media devices. But as music subscription services like Spotify and Apple Music crept in, iTunes began to lose its following.
New York Attorney General Letitia James, a Democrat, heads to Washington Monday to discuss the state-level antitrust investigation of Facebook she's leading with top Justice Department officials, according to a person familiar with her plans.
Why it matters: The meeting could be a precursorto the DOJ joining the Facebook investigation, which is led by New York and includes 7 other state attorneys general, plus D.C.
The big picture: James has been at the forefront of lawsuits challenging the Trump administration over immigration, environmental rollbacks and other policies, and she is also at odds with the Justice Department over the T-Mobile-Sprint merger. If she and Trump's DOJ can find common cause investigating Big Tech's power, that would be one more sign of the issue's bipartisan appeal.
Details: James is expected to meet with Attorney General William Barr, Deputy Attorney General Jeffrey Rosen and Associate Attorney General for antitrust Makan Delrahim, the person familiar with the plans said. A bipartisan group of state attorneys general is also expected to join the meeting, the person said.
Iowa Attorney General Tom Miller and Nebraska Attorney General Doug Peterson were part of the group of state officials in Washington for the meeting, according to their offices.
States investigating Google for anticompetitive practices — including Texas and New York — sent representatives to meet with top DOJ officials in July to discuss tech antitrust issues.
The Justice Department and FTC split jurisdiction over major tech companies for competition concerns earlier this year, with the FTC taking up an antitrust investigation into Facebook. But, as Bloomberg reported, Barr prodded his agency to begin its own Facebook inquiry, prompting concerns from both FTC chairman Joe Simons and Republican Sen. Mike Lee about overlapping investigations.
The state attorneys general also discussed the Facebook investigation at the FTC today, according to a spokesperson for the New York AG’s office.
The states met with FTC chairman Joe Simons, some of the commissioners, and staff from the Bureau of Competition, an FTC spokesperson said.
What they're saying: “We have grave concerns over potential anticompetitive practices by large tech companies," James said in a statement. "We are concerned that Facebook’s actions may have put consumer data at risk of data breaches, reduced the quality of consumers’ choices, and increased the price of advertising, so we will continue to work in a bipartisan manner to protect consumers and protect competition.”
A Justice Department spokesperson declined comment.
The bottom line: Pressure on Facebook and other tech companies is building from state capitals to Washington, where lawmakers and regulators are conducting their own investigations into the power of tech.
A move by the states and DOJ to join forces would mirror the antitrust investigation of Microsoft in the '90s, in which the Justice Department and several state attorneys general together sued the company.
Editor's note: This story has been updated with comment from James and details about the state attorneys general meeting with the FTC.
The employment outlook for African Americans will "worsen dramatically" as automation upends the workforce, according to a new report from McKinsey & Co.
Why it matters: By 2030, African American workers stand to lose hundreds of thousands of jobs as a result of increased automation, widening the racial wealth gap and weighing down overall U.S. growth.
