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| Here are today's top stories: - Google will delete accounts that have been inactive for at least two years.
- Banks were fined $549M for using WhatsApp and other messaging apps, evading regulators.
- A judge has ruled against Google in a $5B lawsuit targeting Incognito mode.
- Chip designer Arm is attracting major investors ahead of its IPO.
Beth
p/beth-duckett | |
| 1 | | Google is moving forward with a plan to delete accounts that are inactive for two years or longer. Google says it will start deleting unused accounts in Gmail, YouTube, and other services in December. More: - The goal is to enhance security as older accounts are more susceptible to security risks like phishing and hacking.
- Certain exceptions apply, such as accounts with YouTube channels, gift card balances, digital purchases, and active published apps.
- The company plans to send multiple warnings to users and do the account purges in phases. It will prioritize accounts that were created but never used.
- The policy only applies to personal accounts and not businesses or schools.
- To keep the account active, users need to log in or use any Google service at least once every two years.
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| 2 | | U.S. regulators imposed $549M in civil penalties on Wall Street firms for widespread record-keeping failures related to employees' use of messaging apps like WhatsApp. Eleven firms, including Wells Fargo and BNP Paribas, agreed to pay $289M to the SEC to resolve the allegations. The Commodity Futures Trading Commission fined four banks an additional $260M. More: - The firms have acknowledged that their employees frequently used messaging apps like WhatsApp, iMessage, and Signal on their personal devices for business communications, according to the SEC.
- Most of these "off-channel" communications were not properly maintained, violating federal securities laws and compromising regulators' oversight of financial markets.
- Wells Fargo, the biggest offender, received a $200M fine. BNP Paribas and Societe Generale, both French banks, were fined $110M each, and the Bank of Montreal faces a $60M fine.
- Wall Street regulators have now collected over $2B in settlements related to record-keeping violations.
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| 3 | | A California judge rejected Google's request to dismiss a proposed $5B class-action lawsuit, bringing the case closer to settlement or a trial. The lawsuit alleges that Google tracked Chrome users' online activity even while they were in Incognito mode. More: - The plaintiffs claim that Google deceived customers when its cookies, analytics, and app tools continued tracking browsing activity even when they used Incognito mode or "private" mode in other browsers.
- On Monday, U.S. District Judge Yvonne Gonzalez Rogers ruled that users didn't consent to Google's data collection as the company failed to explicitly inform them.
- The judge also noted that plaintiffs have evidence showing Google stores regular and private browsing data together and uses them for personalized ads, potentially identifying users.
- Google disputes the claims, stating that users have the choice to browse the internet without their activity being saved, though websites could still collect information during a session.
Zoom out: - The lawsuit potentially covers millions of users since June 2016, seeking $5,000 in damages per user for alleged violations of wiretapping and California privacy laws, totaling at least $5B.
- The case may proceed to trial, or Google could choose to settle.
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| 4 | | Arm, the SoftBank-owned chip design company, is attracting major investors ahead of its expected IPO in September. Apple, Samsung, Nvidia, and Intel are among the companies planning to purchase small stakes in Arm, according to Nikkei Asia. More: - Arm is aiming for an IPO at a valuation of $60B to $70B after its acquisition by Nvidia fell through due to regulatory concerns.
- The planned U.S. listing could raise between $8B and $10B.
- Apple, Samsung, Nvidia, and Intel plan to invest in Arm when it goes public, with Arm intending to sell stakes of "a few percent each" to the companies to help stabilize its share price.
- Earlier reports claimed Arm was in talks with at least 10 companies, including Microsoft, Alphabet, and Apple to participate in the IPO.
- The British firm licenses chip designs to tech giants like Apple and Samsung, enabling them to manufacture customized semiconductors.
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| 5 | Apple Music subscribers now have access to a personalized radio station that offers algorithmic music suggestions based on users' recent listening habits. Although not formally announced, Discovery Station is now accessible on Apple Music's desktop, mobile, and web apps for most users. More: - The radio station plays songs similar to the ones in a user's personal library that they have listened to and liked before but chooses new songs.
- The feature, now available worldwide, can be found in the "Listen Now" section under Top Picks in the Apple Music app.
- A direct link to Discovery Station can be found here.
Zoom out: - The move could help Apple Music further compete with Spotify's Discover Weekly playlist, known for providing personalized weekly song recommendations.
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| 6 | The Center for Countering Digital Hate (CCDH) published a report exposing a trend of AI tools, such as ChatGPT and Bard, providing harmful advice and content related to eating disorders. Psychologists are warning that AI-generated content poses a particular danger to individuals with eating disorders, potentially exacerbating their mental health struggles. More: - During the study, popular AI tools like ChatGPT, Bard, My AI, DreamStudio, Dall-E, and Midjourney were put to the test using 20 prompts associated with eating disorders, including "thinspo" diets.
- The AI tools sometimes suggested harmful behaviors, such as concealing food and planning low-calorie diets.
- Overall, the study demonstrated that the AI tools produced harmful text and images in 41% of cases.
- The bots were more likely to generate harmful advice after the use of "jailbreaks" to bypass safety restrictions.
Zoom out: - The CCDH has pointed out that tech companies are not doing enough to prevent AI tools from disseminating harmful content.
- It urged them to design safer products and test them "rigorously" before launching them to the public.
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- A supermajority of Marvel's on-set visual effects workers has petitioned for a union election with the National Labor Relations Board.
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Term of the Day Product-led growth (PLG): Product-led growth (PLG) is a marketing and sales strategy that focuses on using the product itself as the primary driver of growth. Question of the Week Do you think the 9-to-5 workday still relevant in today's modern workplace? Join the conversation |
INSIDE TECH LEADERBOARD (7 DAYS) |
 | AI and technology writer | | Beth is the curator and writer of the AI and Tech newsletters at Inside. With a career in journalism and editing that began in 2007, she has written for publications including USA Today, The Arizona Republic, Arizona Business Gazette, and more. You can reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by NO ACCOUNT ASSOCIATED WITH THE EDITOR | |
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