A leaked document acquired by the Wall Street Journal has revealed the defense Facebook has in case of a government-mandated breakup of its assets—including Whatsapp and Instagram.
The 14-page file reveals that the social media conglomerate would contest both acquisitions of Whatsapp and Instagram by the company passed FTC scrutiny and Facebook has since invested large sums of money into both platforms.
While reports have stated that the FTC is looking to launch an antitrust lawsuit against Facebook by the end of the year, nothing official has been announced as of yet. The House of Representatives Antitrust Subcommittees have been focused on the Menlo-Park based firm as well as Amazon, Apple, and Google, holding hearings in July with the CEOs of each company. The committees are expected to release their investigation findings into the businesses at the end of the month.
The document says that as Facebook poured money into boosting the growth of both Whatsapp and Instagram, they became integrated with Facebook’s core systems. If the government were to force divestiture of both platforms from Facebook, the company argues it would have to spend billions of dollars unwinding each system and in the process would weaken the security of each application. The file goes on to say that achieving true system independence at this point would be nearly impossible, with the paper concluding that “A ‘breakup’ of Facebook is thus a complete nonstarter.”
How well that argument would hold up is still in question. According to Tim Wu, a Columbia University law professor and tech policy expert, the idea that past government decisions regarding Facebook’s acquisitions should limit current action is “surprisingly weak.” As Wu points out, at the time the FTC wasn’t considering the purchases of Whatsapp and Instagram by Facebook to be based on limiting its competition, leaving the door open to examine those practices now. There is also no guarantee that the difficulty of breaking up the systems would factor into a court’s decision either.
Between the House investigations and the looming possibility of an FTC lawsuit, it’s unlikely that Facebook will come out of 2020 without some type of fight against the government. Although the company has declined to comment on the leaked document as of this writing, one can expect them to be preparing for the inevitable fight(s) ahead behind closed doors.
Missing office culture while working remotely? This tool tries to recreate it
(BUSINESS NEWS) This startup just released new software to help you reproduce the best parts of in-person office interactions while you work from home.
Are you over working from home? Feeling disconnected from your co-workers? Well look no further: The startup Loop Team just released a tool that reproduces the office culture experience virtually.
“We’ve looked at a lot of the interactions that happen when you’re physically in an office — the visual communication, the background conversations, the hallway chatter,” said Loop Team’s founder and CEO Raj Singh in an interview with TechCrunch. “[W]e built an experience that effectively is a virtual office. And so it tries to represent the best parts of what a physical office experience might be like, but in a virtual form.”
Singh’s company, founded pre-COVID, is posed as a solution to feeling “out of the loop” while working remotely. During the pandemic, where virtually all of us are working from home, this technology is needed more than ever.
How it works is by essentially recreating an office experience on a virtual platform. Somewhere between Zoom and Slack with some added features, Loop Team lets you know who’s free to chat, who’s in meetings, and allows you to have private discussions using audio, video, and screen share. It’s ideal for working on projects together.
Loop’s layout is unique in the sense that it is designed to show you conversations in a clear, direct way – exposing relevant items and hiding the rest. Also, employees who miss meetings have the ability to review what they missed, making it perfect for companies that hire across time zones.
The platform was made available December 1st free of charge, but Singh is hoping to introduce a paid version next year. Pricing will likely reflect team size and should remain free for teams of 10 or less.
I’m a big fan of software that allows you to feel closer and more connected to your co-workers. Do I think anything will ever compare to a true, in-person office experience? Definitely not. That being said, I value this kind of progress, especially since I don’t think office culture en mass will make a return any time soon, regardless of vaccinations.
MIT report reveals serious flaws in US unemployment system
(BUSINESS NEWS) In the wake of COVID-19, the US unemployment system is floundering to cover all who need the aid but it comes with serious flaws.
Last week alone, nearly 1 million Americans filed for unemployment benefits. Now that it’s urgently needed, this safety net is full of holes, leaving many Americans in freefall.
A newspaper from the Massachusetts Institute of Technology has highlighted several of the critical weaknesses in our country’s unemployment social safety net.
The report outlines how benefits fall short in three major ways: Duration, eligibility, and payment amounts.
The historical purpose of the benefits system was to replace half of lost wages for 6 months while they looked for another job. (The MIT paper even suggests that a more appropriate “replacement rate” would be higher than that.)
As of 2018, unemployment payments only cover Americans for one-third of their lost wages on average.
The income caps for these benefits have stayed fixed while wages have increased over time. That’s bad enough without considering that wages haven’t nearly kept up with worker productivity in the US, meaning those caps haven’t kept up with the real worth of those workers at all.
Compared to other developed nations, the US has lagged behind in public benefits since well before the pandemic.
In 2014, the Organization for Economic Co-operation and Development compared the duration of unemployment payments around the world. Out of 34 developed countries, the US ranked 33rd— offering less than every country on the list but Hungary.
To quote the research brief for the paper: “Even aside from changes driven by technology and trade, employers’ increasing reliance on contract workers and on-demand scheduling rather than on permanent employees who work predictable schedules has added to the precariousness of many workers’ jobs.”
And those economically vulnerable groups who need the support most are more likely to have jobs that aren’t covered under federal unemployment eligibility.
This includes gig workers (thanks to prop 22), part time workers, and the self employed: People often work these jobs due to constraints like parenthood or disability.
The CARES Act, which passed in April, temporarily allowed certain groups who would usually be ineligible, like the self employed (who are poised to grow in numbers as the job shortage persists) to collect unemployment benefits.
But CARES and HEROES are going to end in December, taking the extensions to unemployment, the eviction moratorium and the COVID sick leave requirements with them.
And instead of extending them, Congress may soon be looking to cannibalize those programs and their unused funds for another round of corporate stimulus spending.
But if the coronavirus relief acts are allowed to expire, nearly 14 million Americans will lose the aid that they provide.
Tis the season for employment scams – here’s what to look out for
(BUSINESS NEWS) Fueled even further by COVID unemployment numbers, seasonal employment scams are back on the menu. Here’s how you can avoid them.
With the sheer amount of desperation people are feeling these days, it’s only fitting that employment scams would see a resurgence this holiday season. Thanks to the Better Business Bureau, there are some clear warning signs that can help you spot and avoid seasonal scams this year.
The typical crux of any employment scam revolves around a prospective employee’s willingness to pay for something upfront, be it training or some other kind of quasi-justifiable item (e.g., a uniform). However, other iterations of the scam actually involve an “employer” overpaying for something at the onset—albeit with a fake check—and then asking the recipient to wire “back” the extra money.
Either way, these scams can leave you jobless and with less money than you initially had, so here are some things for which you should watch out.
Firstly, employers shouldn’t ever charge you before hiring you. Some industries do require employees to make small purchases on their own dime (i.e., the aforementioned uniform), but payroll will usually deduct the cost of these materials from the employee’s first paycheck—not require payment upfront.
As a general rule, it’s probably best to avoid companies that charge you at all. Aramark, for example, is known for requiring employees to buy company clothes—and they’re no peach to work with. But desperate times may warrant an exception in this regard.
It’s also to your benefit to avoid postings that boast an “interview-free” experience. Put simply, no one is hiring sans an interview unless it’s nepotism or a scam. If you aren’t related to the poster, that doesn’t leave much up for interpretation. Similarly, advertising a large sum of money for disproportionately low amounts of work is a pretty big warning sign–again, in this economy, people aren’t shelling out for packing or wrapping jobs.
Finally, watch out for jobs that ask for a work sample before hiring. While this is common for internships, most entry-level positions aren’t going to require you to complete a project for free before determining whether or not you’re good for the job. At best, this is a tactic to get free work from you; at worst, your application information can be stolen.
It’s sad to think that people would stoop to the level of scamming others amidst the dumpster fire of a year it’s been, but if you avoid these red flags, you should be able to keep yourself safe during this holiday season.
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