AM Prep-Cyber Corner
IN THE NEWS: ONLINE PRIVACY LAW UNDER CONSIDERATION
WASHINGTON (AP) — Is there any way to keep the companies we interact with online from making money off the data they collect from us? It’s something under consideration by lawmakers in the nation’s capital. Under consideration is a national law that could let people see or prohibit the use of their data. And under the proposed law, companies would need permission to release such information. The upshot of it is that big tech companies would lose some of the revenue they get by making personal data available to advertisers. Behind the drive for a law is the rising concern over the compromise of private data held by Facebook, Google and other tech giants that earn riches by collecting and sharing — for a price — our data.
IN THE NEWS: E.U. PROPOSING ONLINE LIMITS
LONDON (AP) — Major tech companies like Facebook and Google are coming under fire in Europe. And in this case, the issue is how to curb unsavory material like terrorist propaganda and child porn. Britain has called for a watchdog to keep tabs on social media companies — one that would have the power to levy fines and even ban companies that run afoul of laws. Meantime, a parliamentary committee for the European Union has approved a bill that would force internet companies to remove terror-related material within an hour — or face fines that could reach into the billions. Opponents warn that the British and EU measures could stifle innovation and strengthen the dominance of current tech giants because smaller companies would lack the money to comply.
ON THE WEB: PINTEREST IPO
CYBERSPACE (AP) — How much interest is there in investing in Pinterest? We’ll find out soon, when the company rolls out its initial public offering. So far, it appears the digital scrapbooking site is setting its sights modestly. Pinterest says it hopes to raise as much as $1.5 billion with its IPO. The company says it will put up 75 million shares of stock at a price pegged between $15 and $17. Tech companies have taken as a lesson the debut of Lyft last month. After a big debut, stock in the ride-hailing firm slumped for two days. And to this day, Lyft’s per-share price remains below its IPO price.
Pinterest site: http://www.pinterest.com
by Oscar Wells Gabriel II
Follow Oscar Wells Gabriel II on Twitter at https://twitter.com/OWGabriel2