A federal trial involving 29 US states against Meta opened on August 18, accusing the social media giant of addicting children and harming their mental health. Beyond courtroom arguments, the case reflects a global power struggle between political elites and tech giants over control, propaganda, and societal alienation.
Clashes between the US and EU are becoming the 'new normal' with competition over tech regulations at the core, a Chinese think tank analysis says, citing recent EU antitrust fines against Google.
Phantom and the Hyperliquid Policy Center are asking the CFTC to remove regulations they claim hinder fintech firms from partnering with registered derivatives markets. They propose a model where non-custodial wallets provide technical access to markets without triggering broker registration.
As Ireland prepares to lead EU tech policy, its close ties to US tech giants present a conflict of interest. Sixteen of the world's top 20 tech companies have hubs in Ireland, contributing significantly to its corporate tax revenue. Critics question Ireland's ability to act as an 'honest broker' due to its economic reliance on Big Tech.
G7 digital ministers struggled to reach consensus on regulating Big Tech and addressing the environmental impact of AI, with the US reportedly refusing to compromise. Meanwhile, tech firms are pitching AI to Pope Francis ahead of his first encyclical.
The UK government has announced a £1.1bn investment in AI hardware, aiming to foster domestic chip companies. Alongside this, new measures will compel big tech firms like Apple and Google to block child nudity online, with potential criminal liabilities for non-compliance. Future actions may include an under-16 ban on high-risk social media apps.
Palantir CEO Alex Karp cautioned tech leaders against celebrating AI-driven job cuts, warning it could fuel public backlash and calls for regulation. He noted Palantir uses AI for efficiency but plans to limit hiring rather than broad layoffs.
