By Levi Sumagaysay | [email protected] | Bay Area News Group PUBLISHED: June 7, 2018 at 7:03 am | UPDATED: June 7, 2018 at 7:05 am Facebook, Google and Tesla shareholders have something in common: They’re not happy with management. In the past week, the three companies’ investors shot down shareholder proposals seeking more accountability from the companies and their leaders. All three companies’ founders own considerable stakes in each of the companies they founded — or have outsize influence — so shareholder proposals are usually an exercise in futility. Facebook’s dual-class stock structure means CEO Mark Zuckerberg holds nearly 60 percent of voting rights to the world’s largest social network. Ditto Alphabet, where Google co-founders Larry Page and Sergey Brin hold 56 percent of voting power. At Tesla, CEO Elon Musk owns about 20 percent of the company but is its largest individual shareholder — and has an almost … [Read more...] about Frustrated with Facebook, Google, Tesla? So are their shareholders
By Julia Limitone Published June 07, 2018 Technology FOXBusiness Facebook Twitter Comments Print video Amazon, Facebook, Google are limiting the rate of innovation Elevation Partners Managing Director Roger McNamee on concerns over Amazon, Facebook and Google's business practices. Big tech is becoming a big problem, according Roger McNamee, an early investor in Facebook and mentor to CEO Mark Zuckerberg, who told FOX Business on Thursday regulation is merited for a healthy U.S. economy. Continue Reading Below This comes as the European Union is reportedly planning to impose an $11 billion penalty on Google over abuse of market dominance, the Financial Times said. But in McNamee’s opinion Amazon and Facebook should also face significant regulatory intervention. “It’s really important that we have some threat of regulation because the companies have done a terrible job at self-regulation,” he said to Maria … [Read more...] about Amazon, Facebook, Google stifling entrepreneurs, Zuckerberg’s mentor says
SAN FRANCISCO - The state of Washington said on Monday it had sued Facebook Inc and Alphabet Inc's Google for allegedly violating state campaign finance law by failing to maintain information about who buys election ads. The state's attorney general, Bob Ferguson, who posted copies of the lawsuits on his website, said he was seeking penalties against the companies and an injunction for failing to disclose ad spending in state elections since 2013. Facebook said it looked forward to resolving the lawsuit quickly after it recently introduced tools for people to see who is buying political ads on its social network. A representative for Google could not immediately be reached for comment. Like Facebook, Google has pledged to create an online archive of ads that run on its service. Facebook and Google have faced criticism from lawmakers, users and advocates for campaign finance regulation for their role in selling political ads after Russians allegedly used fake names to buy ads to sway … [Read more...] about Washington state sues Facebook, Google over election ad disclosure
By Tony Romm | Washington Post PUBLISHED: May 25, 2018 at 9:35 am | UPDATED: May 25, 2018 at 9:36 am By Quentin Ariès, Tony Romm and James McAuley | The Washington Post BRUSSELS – As Europe’s sweeping data protection law went into effect Friday, tech giants like Amazon, Facebook and Google found themselves under new legal siege from privacy groups who allege that the companies are mishandling consumers’ personal data. The early maneuvering reflects the extent to which privacy advocates say they plan to leverage the European Union’s General Data Protection Regulation, or GDPR, to force Silicon Valley to collect less data and be more transparent about how tech firms monetize it. GDPR is meant to give the European Union more teeth in enforcing individual privacy protection. Based on the notion of “privacy by default,” the law requires companies such as Facebook and Google to ensure that they collect and store personal data safely and securely. … [Read more...] about Facebook, Google already facing complaints over new Europe data law
By Brittany De Lea Published May 15, 2018 Business Leaders FOXBusiness Facebook Twitter Comments Print video Amazon, Berkshire Hathaway, JP Morgan could change health care system Fox News medical A-team Dr. Marc Siegel on Amazon, Berkshire Hathaway and JP Morgan’s push to partner on employee health care and the government regulations on the health care system. E-commerce giant Amazon was chosen by consumers as the most trustworthy technology company, a new study shows. Continue Reading Below From a group including Apple, Facebook, Google and Microsoft, data management firm Alpha found that the highest number of respondents, 29%, said Amazon was “extremely trustworthy.” Microsoft came in second, with 22% of consumers saying the company was extremely trustworthy. When the consumers were required to pick just one among the five tech companies that they found the most trustworthy, 36% of people picked Amazon. In the wake of … [Read more...] about Amazon, Facebook, Google: Which is the most-trusted?