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Tim Cook takes a swipe at Big Tech rivals and their 'lack of responsibility'

Tim Cook takes a swipe at Big Tech rivals and their 'lack of responsibility'

Key Points CEO Tim Cook took shots at other Big Tech companies for not taking as much responsibility as Apple on issues such as misinformation and data privacy in an interview on released Wednesday morning. Cook's comments, which did not mention rivals by name, came as ramps up its criticism of Apple's policies."Some people see Silicon Valley as monolithic. And so in particular, the larger companies they sort of put in one bucket, if you will," said Cook on the podcast. "Some of the big issues that are surrounding tech today are the lack of responsibility taken on a platform about what...

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Michelle Gao
Dec 9
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Discovery to launch streaming service in January starting at $4.99 per month, Verizon customers get year free

Discovery to launch streaming service in January starting at $4.99 per month, Verizon customers get year free

Key Points is the latest media company to jump into the ever more crowded streaming wars.It will launch its streaming service Discovery+ on Jan. 4, 2021. The service will include a $4.99 per month ad-supported tier and a $6.99 per month ad-free tier.The lower $4.99 tier costs the same as NBCUniversal-owned Peacock's premium tier with ads. The ad-free $6.99 tier is on par with what Disney+ costs. Both offerings are much less expensive than WarnerMedia's HBO Max, which costs $14.99 a month, and , which in Oct.Discovery is also partnering with , which will give 55 million customers up to 12...

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Michelle Gao
Dec 2
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Uber and Lyft rise as investors expect California voters to pass Prop 22

Uber and Lyft rise as investors expect California voters to pass Prop 22

Key Points and shares rose 4.2% and 7.3%, respectively, as investors expect California voters on Tuesday to pass Proposition 22, which would allow the ride-sharing companies to maintain their current business model.If it passes, Proposition 22 would exempt ride-sharing and delivery companies from a new California law that forces such gig economy companies to reclassify their workers as employees rather than contractors, and offer benefits such as sick leave and unemployment protection. A successful Proposition 22 could also California has brought against Uber and Lyft for allegedly...

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Michelle Gao
Nov 2
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Apple now has $191.83 billion in cash on hand — down nearly 7% from a year ago

Apple now has $191.83 billion in cash on hand — down nearly 7% from a year ago

Key PointsApple beats top and bottom line but iPhone revenues miss estimates now has $191.83 billion cash on hand, according to the report  Thursday. That's down from the company's fiscal third quarter of 2020, when it reported . It's also down from Apple's fiscal fourth-quarter 2019 earnings, however, when it reported .Apple regularly has one of the largest cash piles among U.S. companies and hit a , although it has fallen below that number. and had $121.08 billion and $71.77 billion, respectively, at the end of the second quarter, according to FactSet. had $137.98 billion at the end of...

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Michelle Gao
Oct 29
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Bill Gates: 'I was naive at Microsoft,' didn't realize success would bring antitrust scrutiny

Bill Gates: 'I was naive at Microsoft,' didn't realize success would bring antitrust scrutiny

Key PointsBill Gates on regulating Big Tech: 'We're in uncharted territory' co-founder and former CEO Bill Gates told CNBC Wednesday morning he had been naive about the government scrutiny that comes with getting large when he was running Microsoft and said the chance of Big Tech antitrust regulation is "pretty high.""Whenever you get to be a super-valuable company, affecting the way people communicate and even political discourse being mediated through your system and higher percentage of commerce — through your system — you're going to expect a lot of government attention," Gates said in...

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Michelle Gao
Oct 14
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Barry Diller on TikTok deal: 'The whole thing is a crock'

Barry Diller on TikTok deal: 'The whole thing is a crock'

Keep Me Logged InKey Points'The whole thing is a crock'—Billionaire Barry Diller on TikTok-Oracle dealMedia mogul Barry Diller told CNBC on Tuesday the deal in which  and would take minority stakes in TikTok "is a crock.", chairman of  and , made his comments in a "" interview days after President Donald Trump agreed to approve the deal with the Chinese-based owner of the viral video-sharing app."It started obviously simply — to say we want to protect the security of Americans from anything that could happen to them by using TikTok," said Diller. "It has now morphed into a ludicrous...

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Michelle Gao
Sep 22
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Netflix makes $100 million commitment to support Black communities in the U.S.

Netflix makes $100 million commitment to support Black communities in the U.S.

Keep Me Logged InKey Points announced Tuesday it will start putting 2% of its cash holdings into financial institutions and organizations to "directly support Black communities in the U.S."The video streaming giant said in a blog post that its initial commitment will be as much as $100 million.In the first step in allocating that money, $25 million will be moved to a new fund called the Black Economic Development Initiative, investing in "Black financial institutions serving low and moderate-income communities and Black community development corporations in the U.S.," the company said.It...

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Michelle Gao
June 30, 2020
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