The European Union Tuesday unveiled sweeping new proposals to control tech industry giants as "gatekeepers" who could be fined up to 10% of their revenue for breaking EU rules on competition.
Why it matters: Tech industry insiders tell Axios they view the proposed European laws as more restrictive than anything the companies face in the U.S. — and also tougher than anything else Europe has previously proposed.
Nearly every major app geared towards content creators has seen significant percentage increases in downloads this year, according to data from Apptopia.
The state of play: Cameo expects to make $100 million from video transactions this year, a spokesperson tells Axios. Over 1 million Cameo videos have been sold-to-date, Tens of thousands of talent now use the app to sell videos.
Intel became the latest tech company to report diversity statistics Tuesday, sharing a mixed bag of annual numbers that included small gains in some areas, relatively flat numbers of Black employees and a decline in female representation in the U.S.
Why it matters: Intel, which was one of the first Big Tech companies to commit significant dollars to addressing racial and gender inequality, has nonetheless struggled, like its peers, to make continuous and significant progress toward a more diverse workforce.
Slack is earmarking $50 million from its balance sheet to launch a new venture capital fund aimed at broadening Slack-backed investments beyond its own platform.
Why it matters: This is Slack's first solo turn at the VC game after a $25 million fund in collaboration with several of its own investors. With the pandemic confining many workers away from in-person interactions, countless companies are having to navigate a new way to operate—and new workplace apps are in the spotlight like never before.
Blade, a short-distance aviation company best known for helicopter rides from airports to city centers, agreed to go public via a reverse merger with a special purpose acquisition company (SPAC) affiliated with KSL Capital Partners.
Why it matters: Blade wants to become the first publicly traded company to offer electric vehicles in the air.
The revelation that hackers tied to Russia managed to penetrate the Treasury, Commerce and Homeland Security departments — at least — will be giving U.S. officials nightmares for a long time.
The big picture: News of the Russia-linked hack, which Reuters broke Sunday, has shaken the government and larger cybersecurity world and led some policymakers to call for retaliation against Russia.
Uber, Lyft and other gig companies are rolling out guaranteed minimum earnings and injury protection, the first of the new worker benefits that they promised in connection with a ballot measure that ensures they don't have to make their drivers employees.
Why it matters: The companies presented these provisions of the ballot proposition — Prop 22, which California voters passed last month — as a compromise between treating drivers as independent contractors and treating them like employees.
The Federal Trade Commission will announce Monday that it's launching a new inquiry into the privacy and data collection practices of major tech firms including Amazon, TikTok owner ByteDance, Twitter, YouTube and Facebook as well as its subsidiary WhatsApp, Axios has learned.
The big picture: The move comes amid broader scrutiny for the industry and appears to be a wide-reaching inquiry into everything major tech companies know about their users and what they do with that data, as well as their broader business plans.
Apple on Monday debuted its new privacy "nutrition labels" to all product pages for apps listed in its App Store.
Why it matters: The labels are meant to serve as an easy-to-view summary of how apps collect user data for users to review before they install a new app. Some developers worry that the summaries are too broad and could spook users into thinking they collect more data than they do.
Oura's smart ring could help detect COVID-19 infections before noticeable symptoms show up — and earlier than other methods — thanks to its ability to continuously monitor body temperature, according to a University of California, San Francisco study.
Why it matters: Earlier detection, especially of those without symptoms, could spur people who may be infected to get tested and self-isolate, crucial steps in slowing the coronavirus' spread as the pandemic worsens in the U.S.
Gmail, Google Docs, YouTube and other Google-based services were reported to be down across multiple countries on Monday morning. Some services were reported to be back online beginning at 7:30 am ET.
The latest: Google said at about 7:50 am ET, "Gmail service has already been restored for some users, and we expect a resolution for all users in the near future. Please note this time frame is an estimate and may change."
Silicon Valley's powerhouses aren't putting out the "moving sale" signs, even as a handful of high-profile departures raises questions about the region's status.
The Cybersecurity and Infrastructure Security Agency (CISA) issued an "emergency directive" late Sunday requiring all federal civilian agencies to review their networks and immediately disconnect SolarWinds Orion software products, following a suspected Russian hack on the Treasury and Commerce Department.
Why it matters: It's only the fifth time since 2015 that the Department of Homeland Security has issued such a directive, per AP, underscoring the concerns officials have about an operation that one cybersecurity expert warned could turn out to be "one of the most impactful espionage campaigns on record."
New virtual and "augmented" reality technology is allowing users to experience 1960s civil rights marches, the agony of segregation for Black Americans, or life in a Japanese American internment camp.
Why it matters: For now, this is largely a tool for educators seeking new ways to teach young Americans about the legacy of slavery and racism. But there's growing commercial potential as more people become comfortable using technology to expand their horizons.
Reddit has acquired Dubsmash, the short-form video app akin to TikTok, the company said in a statement provided to Axios. Deal terms were not disclosed.
Why it matters: The deal marks the latest move by a tech platform to invest in a TikTok-like video feature. Snapchat last month launched its TikTok competitor, called Spotlight. Facebook launched its competitor, called Reels, in August.
