FTC cracks down on Meta/Facebook
FTC cracks down on Meta/Facebook
Electrify Expo launches 12 U.S. city tour
The forward-leaning morning newsletter for those
who love all things green
May 15, 2023
Topics: Electrify Expo, Tech, privacy, Meta, FTC protecting children from social media, Twitter, cannabis, banking, SAFE Act, Sanford Stein
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⚡Terrific opportnity Electrify Expo has announced its 2023 EV events. Since emerging in 2021, Electrify Expo has become the largest EV festival in North America. At least 100,000 people attended the Expo last year, held across five venues in the United States. This year's events will take place across seven venues: Long Beach Convention Center in California May 19-21, San Francisco at Alameda Point June 24-25, Washington DC at RFK Stadium July 22 and 23, New York City at Nassau Coliseum August 12-13, Seattle at Marymoor Park September 9-10, Miami at Miami-Dade Fairgrounds Oct. 14-15, and Austin, Texas, at Circuit of the Americas November 10-12.
There will be a display of the latest electric mobility products, from EVs to electric bicycles to e-scooters and more, along with music and food. Attendees will have the opportunity to test any product and interact with brands. Tickets are currently on sale! Are you ready?
💪FTC holding Meta accountable It is a painful thing if a technology company cares more about making money than the safety of their users. In the last couple of years, Meta, the tech company formerly known as Facebook, has persistenly done exactly that. It has jeopardized the privacy of its users across its social media platforms and has misled them for profit.
One of Meta's biggest privacy scandals with Cambridge Analytica resulted in the tech company paying a $5 billion settlement in 2020. Part of the settlement agreement was that Meta would rectify its privacy program. But after two years, the Director of the FTC’s Bureau of Consumer Protection, Sam Levine, said; “Facebook has repeatedly violated its privacy promises...The company’s recklessness has put young users at risk, and Facebook needs to answer for its failures.”
Meta still allows app developers to access private user information. In the report published May 3, FTC also accused Meta of violating the Children's Online Privacy Protection Rule (COPPA Rule). FTC said it would completely ban Meta from monetizing data from users below 18 years. FTC will also prohibit the social media company from launching new or modified products or services until it is sure that Meta's privacy program complies with the terms of the 2020 agreement. Meta will also need users' consent when using facial recognition technology. The Federal Trade Commission works to promote competition and protect and educate consumers.
🎭Multi-billion dollar boss Billionaire Elon Musk has had it rough since he bought Twitter and has been the CEO of the social media company. After the poll in December that he organized, concluded that 58% of accounts voted for him to step down as CEO, it was still doubtful he would "find anyone stupid enough" (his words not ours). Last week he finally did!
As surprising as the choice is, nobody else is more deserving of the position than Linda Yaccarino. She re-engineered the advertising business for the 21st century—the more reason why Musk is bringing her in to lead Twitter so that she can help revive the company's crumbling advertising business. Linda will assume her Twitter leadership role in about three weeks, while Musk will continue to lead design and technology at the social media company.
Did you know that in addition to financially benefitting by serving all us user to Twitter's paying advertisers, Twitter Inc is now X Corp and it aims to evolve into an everything app (aka super-app) called "X". Taken straight from the Chinese playbook of WeChat, which is massively popular in China. In this way, one technology business is literally in all of your shit. What happened to boundries?
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⚖️Years in the making Cannabis businesses in the United States have been have been forging an uphill battle. Federal prohibition has denied them access to banking services and federal funding, and social media has forced down their website, state regulations has prevented them from advertising, restricted their brick and mortar locations and overtax them—all this has limited their growth. Their hope was cut short again last year when a bill proposed to give them access to the banking sector failed to receive a hearing in the Senate, even after passing the House of Reps. Well, after seven failed attempts, their hope rises again.
The Secure and Fair Enforcement (SAFE) Banking Act bill is expected to go before the Senate Banking Committee soon. The bill will explicitly enable cannabis businesses to run financial transactions with banks, including obtaining loans, while preventing federal prosecutors from persecuting them or banks.
Legal cannabis expert, Sanford Stein reminds everyone that banking affects all of us as it impacts our economy and financial growth. "And, while Congress considers banking reform...let’s get them to pay attention to the credit needs of a $60 billion industry that can’t even get a loan due to the provenly stupid scheduling of cannabis as a Schedule 1 drug under the CSA... With cannabis legal in some fashion in nearly 40 states and growing list of countries, the economy of this industry benefits the general economy."
Stay Curious... Who are we?
Fun question of the day: Are you going to Electrify Expo?
Who are we?
Last fun question of the day: Do you know the flower in the first image frame?
5% of respondents said YES (Cactus)
Thanks again for being you. Until the next issue, be sure to add more green to your life!
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