Additional funding for antitrust enforcers to police Big Tech and copyright measures opposed by some in the tech industry are both included in Congress' big spending package unveiled Monday.
Why it matters: Both the Justice Department and the Federal Trade Commission have been asking Congress for more money to conduct investigations and bring cases against phenomenally wealthy tech companies.
The Trump administration is concerned Chinese investments in the Israeli tech industry could harm Israeli and U.S. national security, assistant secretary of state for Near East Affairs David Schenker said Monday at a conference organized by the SIGNAL think tank, which focuses on Israeli-Chinese academic cooperation.
Why it matters: The Trump administration has previously raised concerns in private about Chinese involvement in Israel’s booming tech sector. This is likely the first time the administration has done so in public.
A large collection of nonprofits is sending an open letter today calling on the incoming Biden-Harris administration to do a better job of both educating the public on misinformation and taking stronger action to protect the health care system, voting process and other critical institutions.
Why it matters: Misinformation amplified on social media has worn down the factual foundations of democracy and led to an upsurge in conspiracy theories on everything from the 2020 election results to how COVID-19 spreads.
Lockheed Martin (NYSE: LMT) agreed to buy Aerojet Rocketdyne (NYSE: AJRD) for $4.4 billion in cash (including assumed debt).
Why it matters: This reflects how legacy defense companies are racing to keep up with Elon Musk and Jeff Bezos in space, a dynamic that also helped drive Raytheon's merger effort with United Technologies Corp. Plus, this is the exact type of company that will be seeking Space Force bids, maybe getting cool branding logos on the Guardian outfits.
President Trump's reluctance to name and shame Russia for the SolarWinds cyberattack will hamper companies and government agencies as they begin the long and daunting job of assessing and repairing the hack's damage.
Why it matters: Experts say Russia's fingerprints are all over the attack, but the president's dissent will hobble any U.S. response — at least until Jan. 20.
The coronavirus relief package deal that Congressional leaders reached Sunday includes $7 billion in funding for broadband internet access.
Why it matters: The move to remote learning and work has made broadband access essential for many families during the pandemic, at a moment when some can't afford it.
SoftBank on Monday will file to raise between $500 million and $600 million via an IPO of its first SPAC, Axios has learned from multiple sources.
Look ahead: The investment giant is said to be prepping at least two additional SPACs, which are blank check vehicles that raise money to buy a company and take it public via a reverse merger.
Instacart has asked public health authorities to include its workers as part of the essential workers who'll get COVID-19 vaccines, according to letters it provided to Axios. Uber, Lyft and DoorDash have made similar requests in recent days.
Why it matters: These workers are disproportionately bearing more exposure and risk than many of their customers, who have the luxury of staying home and having their groceries and food delivered.