"Oh f---, how did we miss this?" Facebook CEO Mark Zuckerberg asked, looking around at the somber faces of his top executives, the N.Y. Times' Sheera Frenkel and Cecilia Kang write in their book, "An Ugly Truth: Inside Facebook’s Battle for Domination," out Tuesday.
In an excerpt provided first to Axios, the authors write that the executives met Dec. 9, 2016, for a briefing on what Facebook's security team knew about Russian meddling on the platform during the election won by Donald Trump.
Reddit traders drove AMC's stock to meteoric heights. Now they're one reason why the theater chain tabled its latest plan to cash in on that hype.
What's new: AMC said Tuesday it's putting off a vote that could have let the company sell up to 25 million more shares next year.
Amazon wants Federal Trade Commission chair Lina Khan recused from any antitrust investigation targeting the company, arguing her past statements about the e-commerce giant create the appearance that she has prejudged the company.
Why it matters: Amazon's purchase of MGM will reportedly be reviewed by the FTC.
TikTok on Wednesday said it removed more than 7 million accounts "from the full TikTok experience” during the first quarter of 2021 for potentially belonging to people under the age of 13.
Why it matters: The disclosure marks the first time the tech giant has revealed the number of accounts it has had to address for possibly belonging to kids and pre-teens.
Facebook, Google and Apple take note: Microsoft is spending a fortune to bulk up its legal staff in anticipation of years of new tech regulations around the globe. And Microsoft isn't even the company in most regulators' crosshairs.
Driving the news: As first reported by Axios, Microsoft plans to increase the size of its corporate and legal affairs team by 20%.
Microsoft plans to increase its legal and corporate affairs unit by 20 percent in the coming fiscal year as it prepares for what it sees as a years-long wave of tech regulation across the globe, Microsoft president Brad Smith told Axios.
The big picture: Smith individually, and Microsoft as a company, have plenty of experience with tech regulation — most notably, from a decade-long fight with regulators on both sides of the Atlantic over antitrust issues beginning in the late '90s.
Google is making it easier for those who are hungry to find a local food bank by offering a new locator tool within Google Maps.
Why it matters: The 2021 reality is there are plenty of people in the U.S. who have plenty of access to the internet, but not enough access to food.
In the latest in a series of app store fee cuts, Google has a new program that will halve commissions for some large developers who agree to support Android on non-phone devices, such as cars, TVs and tablets.
Why it matters: Although a 30% cut to Apple or Google remains the baseline for both of their mobile app stores, there are a growing number of exceptions amid pressure from both competitors and regulators.
All of the world's trillion-dollar companies (with the exception of Saudi Aramco) are reportedly having what Protocol's Issie Lapowsky characterizes as "heart palpitations" over the appointment of Lina Khan as FTC chair. But don't expect anything drastic to happen soon.
Why it matters: Khan is the most fearsome foe that Big Tech could have imagined in America's top antitrust role — and her fans in Congress are making waves as well. But you'd never guess that from the giants' share prices, which have been hitting new all-time highs since the announcement.
Microsoft on Thursday offered a first look at Windows 11, coming this holiday season. The new version changes both the look of the operating system as well as its underlying business model, as well as supporting Android apps for the first time.
Why it matters: Windows has been steadily losing market share on the desktop, which has itself lost prominence to smartphones.