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Biden’s tech agenda gets a reality check as Elon Musk buys Twitter

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Biden’s tech agenda gets a reality check as Elon Musk buys Twitter


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The Biden administration arrived in Washington with an formidable agenda for taming Massive Tech, which it portrayed as concentrating an excessive amount of energy within the fingers of some billionaires — the moguls of a brand new, digital Gilded Age.

Elon Musk’s $44 billion deal to purchase Twitter has put that critique into sharp aid, underscoring how badly Biden’s tech agenda has stalled within the 15 months since taking the White Home.

The world’s richest particular person has purchased considered one of its most influential social media platforms — and Washington’s fingers are largely tied.

Musk, infamous for flouting regulators and working afoul of the Securities and Alternate Fee, will wield huge discretion over thorny choices about what content material stays on and off the social community, and the way the corporate handles the info privateness of its thousands and thousands of customers. By taking the corporate personal, Musk will probably be topic to even much less scrutiny than highly effective executives of different publicly traded firms, akin to Meta CEO Mark Zuckerberg.

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Biden’s insurance policies on expertise

Lawmakers now discover themselves stymied, after failing for years to implement guardrails on social media firms which may pressure higher accountability of Musk. The deal doesn’t current apparent antitrust conflicts, exposing the boundaries of Congress’s latest give attention to regulating the most important tech platforms.

“We’ve been asleep on the wheel,” stated Rep. Ro Khanna, a Democrat who represents Silicon Valley and has advocated higher regulation of the tech business. “It’s unsettling {that a} change in possession can create that sort of change in public discourse.”

Activists, teachers and lawmakers who as soon as pinned their hopes on a extra assertive federal authorities now are more and more wanting overseas — primarily to Europe — within the hopes that international regulators might need the clout to curb Silicon Valley’s worst abuses. European policymakers appeared desperate to take up that mantle, responding with a warning for Musk.

“Be it automobiles or social media, any firm working in Europe must adjust to our guidelines — no matter their shareholding,” tweeted Thierry Breton, the European commissioner for the inner market. “Mr. Musk is aware of this effectively. He’s conversant in European guidelines on automotive, and can shortly adapt to the Digital Companies Act.”

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Europe to slap new rules on Massive Tech, beating U.S. to the punch

The rhetoric throughout the Atlantic stood in distinction to the White Home, the place press secretary Jen Psaki declined to touch upon the deal. She stated that President Biden has “lengthy been involved concerning the energy of huge social media platforms.”

Musk has sought to painting himself as a “free speech” absolutist, saying in a Tuesday tweet that he’s in opposition to “censorship that goes far past the legislation.”

“If individuals need much less free speech, they’ll ask authorities to go legal guidelines to that impact,” he wrote.

However regardless of the vast majority of Individuals supporting higher regulation of tech firms, Washington has not handed complete laws on the tech business in a long time.

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The Biden administration and Democrats promised an unprecedented regulatory assault on Silicon Valley once they regained energy in Washington in 2021. Motivated by the function they stated Fb, Twitter and different social networks performed in spreading falsehoods throughout the 2020 election and inflaming extremism, they proposed adjustments to an Web legal responsibility legislation often known as Part 230, privateness protections and new competitors guidelines. Biden named distinguished tech business critics to key antitrust enforcement roles. Following revelations from Fb whistleblower Frances Haugen later final yr, they expanded their imaginative and prescient — promising kids’s security laws and higher transparency across the black field algorithms that energy main tech platforms.

But because the midterm elections strategy, many Democrats are fearful their social gathering will lose management of the Home and probably the Senate — closing their window to go important tech laws.

The social gathering’s ambitions have collided with the realities of governing in a deeply polarized Washington. Lawmakers in america are extra constrained than their European friends in regulating social media, due to First Modification protections that restrict authorities regulation of speech. Tech regulation has additionally taken a again seat to urgent coverage dilemmas because the pandemic stretched into its third yr, inflation rose and warfare broke out in Europe. And with a fragile majority damaged solely by Vice President Harris’s tiebreaking vote within the Senate, Democrats have struggled to realize even fundamental tech coverage targets — akin to breaking the 2-to-2 impasse on the Federal Commerce Fee, the regulatory company tasked with overseeing competitors and privateness points in Silicon Valley.

“I haven’t seen a lot of something from the Biden administration,” stated Katie Harbath, a former Fb public coverage director and CEO of consultancy Anchor Change. “Europe’s consuming america’ lunch on this.”

Democrats transfer a step nearer to breaking deadlocks at FTC and FCC

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The laws that has essentially the most momentum within the Senate are payments that might regulate app shops and stop massive tech platforms from boosting their very own services and products over these of their rivals. However neither would apply to Twitter, which has a considerably smaller footprint than Fb, Apple, Google or Amazon. (Amazon founder Jeff Bezos owns The Washington Submit.)

“They’ve achieved nothing to this point besides speak about it,” stated William E. Kovacic, a former Republican chair of the FTC. “In the event that they need to effectuate fundamental change, they’ve to vary the legislation.”

Musk will probably be required to report his buy of Twitter to the FTC and the Justice Division, which may decelerate the deal by requesting detailed details about the transaction, Kovacic stated. However Kovacic stated he didn’t see a aggressive hyperlink to Musk’s different companies, making it unlikely the companies would block it.

Tech regulation is at instances introduced as a bipartisan coverage difficulty, with Republicans and Democrats alike bashing the business. However regardless of a flurry of payments and dozens of hearings, the events are basically at odds over how they imagine social networks needs to be regulated, with Democrats pushing firms to deal with misinformation, whereas Republicans critique these limits.

This split-screen actuality was on show within the fallout of the Musk deal. The identical Republicans who had as soon as criticized former Twitter CEO Jack Dorsey for wielding an excessive amount of energy over Twitter celebrated Musk taking the corporate into personal fingers, suggesting that it was a victory for “free speech.” In the meantime, Democrats criticized the deal as an indication that billionaires have an excessive amount of affect over the economic system, calling for higher tech regulation and wealth taxes.

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“Republicans are claiming Musk as their digital Paul Revere, that he’s going to avoid wasting them and provides them a voice once more, and the Democrats are expressing issues about that,” stated Jeffrey Chester, the manager director of the digital rights advocacy group Middle for Digital Democracy. “It mirrored all of the deep divisions that our nation is enmeshed in.”

Within the absence of laws, lawmakers have largely used congressional hearings and their media megaphones to maintain strain on tech moguls, hauling in Zuckerberg, Dorsey, Bezos and Alphabet CEO Sundar Pichai. Khanna stated Congress ought to have a listening to with Musk to press him on his plans for Twitter, particularly how the corporate’s company governance can be structured.

Massive Tech CEOs face lawmakers in Home listening to on social media’s function in extremism, misinformation

Coverage specialists largely anticipate such a listening to with Musk, who is thought for his brusque criticism of lawmakers, would devolve right into a media frenzy. Musk has bashed Sen. Elizabeth Warren (D-Mass.) as “Sen. Karen” throughout a Twitter feud about tax coverage, and vulgarly prompt that the profile image of Sen. Ron Wyden (D-Ore.) appears like he simply had an orgasm.

“I’m certain it’ll make nice TV, however not good, substantive dialog,” stated Evelyn Douek, a senior analysis fellow on the Knight First Modification Institute at Columbia College.

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Musk appeared to acknowledge the chance that he can be known as to Capitol Hill, tweeting a smiling emoji in response to Field chief government Aaron Levie, who tweeted that Musk would “prefer to be the one human that may be known as to congress for as much as 63 completely different matters.”

The problem of regulating Silicon Valley is compounded as a result of essentially the most controversial developments round social media — such because the Musk deal or social networks kicking off Donald Trump — get the lion’s share of public consideration. However areas the place there’s extra consensus, akin to passing privateness laws or transparency necessities for tech platforms, don’t get as a lot traction.

“We get distracted by these shiny, fantastical, movie-like storylines, whereas the elemental, boring systemic points that want fixing simply chug alongside,” Douek stated. “It could be nice if we may decide up among the low-hanging fruit.”

Tech firms spent nearly $70 million lobbying Washington in 2021 as Congress sought to rein of their energy

Some coverage specialists say the challenges in regulating social media firms are indicative of the broader ineptitude in Washington, the place Biden’s efforts to go a signature social spending initiative have been stalled for greater than a yr.

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“We’re paralyzed in lots of, some ways proper now,” stated Ethan Zuckerman, an affiliate professor of public coverage, data and communication at College of Massachusetts Amherst.





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Crypto Giants Want to Buy Washington. They're Bankrolling Trump to Make It Happen

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Crypto Giants Want to Buy Washington. They're Bankrolling Trump to Make It Happen


Just before the three-day Bitcoin 2024 conference got underway in Nashville this week, Tyler Winklevoss, the bitcoin billionaire who founded the cryptocurrency exchange Gemini with his twin brother Cameron, had harsh words for presumptive Democratic presidential nominee Kamala Harris. He was incensed that after years of tension between the Biden administration and the crypto industry — many in the space have complained of a regulatory crackdown — the vice president had declined an invitation to the annual bitcoin extravaganza.

“She can’t even take the first step and show up to start mending fences,” Winklevoss tweeted on Wednesday. He added, ominously: “Our industry won’t forget this. We will show no mercy in November.” Earlier that day, Bitcoin Magazine CEO David Bailey, the organizer of the event, claimed in a tweet that a Democratic donor had told him Harris privately says that “Bitcoin is money for criminals.” (While the sum of money collected annually through crypto-based crime is in the billions, this represents a relatively small percentage of transactions.) Meanwhile, feverish rumors that an increasingly crypto-friendly Donald Trump might use his keynote speech at the conference to announce plans for adopting Bitcoin as a U.S. strategic reserve asset caused the price to surge. It had also soared after he survived an assassination attempt earlier this month, temporarily boosting confidence in his election bid.

But Harris had every reason to feel unwelcome at a bitcoin convention. Chief among them is that tech oligarchs and the crypto crowd have already thrown their lot in with Trump as they seek a freer hand in the economy of digital assets. Trump, meanwhile, has aggressively courted the movers and shakers of crypto finance, trying to sell himself as “the crypto president” who can reverse Joe Biden’s attempts to rein in the sector — this despite commenting himself in 2021 that bitcoin “seems like a scam.” In Saturday’s speech, Trump said that if he wins, “the United States will be the crypto capital of the planet and the bitcoin superpower of the world,” adding: “If crypto is going to define the future, I want to be mined, minted, and made in the USA. It’s not going to be made anywhere else. And if bitcoin is going to the moon, as we say … I want America to be the nation that leads the way, and that’s what’s going to happen. So you’re going to be very happy with me.”

Trump outlined several steps he would take to aid the crypto industry. “The day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over,” he said. Trump pledged, to great applause, that he would immediately fire Securities and Exchange Commission chair Gary Gensler, and replace him with an industry-friendly regulator. He said he would create a presidential crypto advisory council to create a new regulatory framework that would “benefit” the industry. And he warned the audience that if Democrats win in November, “every one of you will be gone. They will be vicious. They will be ruthless. They will do things that you wouldn’t believe.”

The remarks should fuel even more donations from crypto bulls already betting on Trump. Bitcoin Magazine‘s Bailey, for his part, committed to a goal of raising $15 million for Trump’s campaign during the Nashville event. Last month, the Winklevoss brothers — whose Gemini this year settled a lawsuit from the state of New York over a frozen crypto lending program, returning $2.2 billion to customers and paying a $37 million fine — pledged $1 million in bitcoin each to Trump’s campaign. The amounts exceeded the $844,600 maximum that the Trump 47 Committee, the joint fundraising group to which they donated, can legally accept from an individual, and the Winklevosses had the difference refunded. (Among other spending on GOP campaigns, the committee funnels money toward covering Trump’s legal bills.) They also each chipped in $250,000 for America PAC, the super PAC through which Elon Musk and allies are backing Trump.

Other America PAC donors include Shaun Maguire of VC firm Sequoia Capital, who has expressed interest in “legitimizing” crypto and announced a $300,000 Trump donation with a statement that argued “Democrats have been trying to regulate technology — especially open source AI and crypto in ways that incentivize the best builders to build outside of America.” He has poured half a million dollars into the super PAC. Ken Howery, a co-founder along with Peter Thiel of VC firm Founders Fund, which is heavily invested in crypto and blockchain technologies, has given $1 million. Another million came from Antonio Gracias, the former director of Tesla thought to have helped engineer the automaker’s purchase of $1.5 billion in bitcoin in 2021. His firm, Valor Equity Partners, invests millions in crypto businesses. Joe Lonsdale, co-founder of the software company Palantir and managing partner of the firm 8VC, gave $1 million to America PAC as well. Earlier this year, he mused on how artificial intelligence and crypto technologies could benefit one another.

And while he hasn’t donated to the PAC, Silicon Valley venture capitalist and close Musk associate David Sacks has given thousands directly to the Trump campaign. Two months ago, Sacks said he preferred Trump’s sudden crypto cheerleading to the Biden administration’s scrutiny. “It might have been pandering,” Sacks said at a business summit in May. “But at least he’s saying the right thing and Biden is not saying the right thing. At least if he’s pandering, there’s a higher chance that maybe he’ll do the right thing.” (Last year, on the tech and investment podcast All-In, Sacks floated the unsubstantiated claim that SEC chair Gensler, along with Sen. Elizabeth Warren, had forged an “alliance,” with Warren promising “she will make him Treasury Secretary if he basically destroys crypto in the U.S.”)

It’s not just about Trump, either. The super PAC Fairshake, bankrolled by crypto firms including Coinbase, Jump Crypto and Ripple, has become a major force in the financing of congressional races, backing candidates deemed allies of the industry and helping to unseat opponents including progressive Reps. Jamaal Bowman and Katie Porter with critical ads. It has received tens of millions from the Winklevosses and venture capitalists Marc Andreessen and Ben Horowitz of the firm Andreessen Horowitz, which invests in crypto companies. (Andreessen and Horowitz recently pledged to donate to Trump; Horowitz says the Biden administration “basically subverted the rule of law to attack the crypto industry.”) As of the end of June, Fairshake had close to $120 million in cash on hand, while two other crypto super PACs, Protect Progress and Defend American Jobs, have more than $5 million and nearly $2 million, respectively. The former has spent on media attacking Democrats pushing for consumer protections in crypto; the latter has doled out more than $15 million on endorsements for Republicans in the 2024 election cycle.

But while Trump had planned to ride this wave of cash by going after Biden for his record on cryptocurrency, it may be hard to use the same line against Harris, seen by some as potentially amenable to these businesses due to her background in tech-saturated San Francisco politics. And if a few major investors were stung to be snubbed by Harris this weekend, it’s still unclear what position she’ll take on the issue. On Friday, the Financial Times reported that Harris advisers have reached out to people close to crypto firms to try to “reset” relations with the industry.

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Even before Biden exited the race, the administration had made efforts to alleviate the bad blood between the White House and crypto evangelists, and the House passed a pro-crypto bill in May with support from 71 Democrats. Although Biden was not in favor of it, he did not say he would veto the legislation.

All the same, it would be ridiculous for crypto’s elite to try to disentangle their fortunes from Trump’s at this point, regardless of the direction Harris takes. They’ve made their pick and infused his campaign with considerable wealth, hoping for a president who takes a hands-off approach to their tokens and trading platforms. Now they just have to hope it’s enough to send Trump’s stock to the moon.





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Years after his dad drowned, this Commanders starter is teaching kids to swim

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Years after his dad drowned, this Commanders starter is teaching kids to swim


Cornelius Lucas III remembers everything about the day his father drowned on a family camping trip outside their home in New Orleans.

“We had a little campfire going. … I was running around. I was in and out the water, but I didn’t really go deep. My dad had went in the water deep a couple times, and I feel like this was his second or third time, maybe third or fourth time going back in the water.

“He literally asked me, ‘You want to come with me?’ I was like, ‘Nah, I’m just gonna stick back here and throw the football around.’ And I just remember seeing him walk out — as a kid, everything seemed bigger — but maybe like 40, 50 yards deep into the water. And then he — I saw his hands waving at me, and he just dipped underwater.”

People rushed out to help, but when they got there, they couldn’t find his father. He had been dragged under by a rip tide.

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“Forty-five minutes later, he floated back,” Lucas said.

“At the age of seven, I was out of having a dad, out of having my best bud, my best friend, my greatest — my best teacher, you know what I’m saying? Like, the guy that was put in this world to give me all the game that I’ve been searching for since then.”

Twenty-six years later, Lucas is a man, 6-foot-8, 327 pounds, a professional hitter with a goofball grin and the self-confidence he lacked growing up without his dad. Lucas believes his unlikely journey has led him to this moment with the Washington Commanders, where, entering the 11th season of his improbable NFL career, the longtime backup is competing for the huge role of starting left tackle and blindside protector for new franchise quarterback Jayden Daniels.

Lucas, 33, feels he’s doing well early in the competition with rookie Brandon Coleman, and unlike his first shot at being a full-time starter (his second season, with Detroit), he feels ready.

Many players who go undrafted out of college, as Lucas did out of Kansas State in 2014, get chewed up by the NFL. Their moment is darkened by the ever-present possibility of getting fired, and they’re often forced out of the league against their will, broken or brokenhearted. In his fifth year, Lucas was overwhelmed by repeated rejection and tried to quit by ignoring calls from his agent.

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It was in those difficult moments Lucas felt his father’s absence most.

“Outside of my coaches and my teammates to push me and tell me I could do this, I haven’t had someone I could call on and just tell them how I’m feeling, what’s going on,” he said.

“It’s really been a me situation. Like, me figuring it out. Me going home and sitting in silence for two hours because I got beat in practice, and I’m thinking about why I got beat and how I can’t get beat no more because I’m on the edge of getting cut, and you know — I’m saying it’s been stressful. ”

As he honed his skills, Lucas has grown mentally tough, observing people around him, looking for “life tidbits” and refining who he wants to be.

In 2018, everything came together. Lucas caught a break, played well in one game for his hometown New Orleans Saints and parlayed it into a job with Chicago, where he shined. In 2020, he signed a two-year deal with the Commanders, and in 2022, he signed another. Last summer, he felt like he finally “filled myself up enough to pour into others.”

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And he had an idea how: Swim camp. Every summer, NFL players host youth football camps across the country, and while he saw the value in them, he wanted to do something more personal. He attended pool parties growing up, even after his father’s death, but he still had never gone in a pool deeper than his height.

So he partnered with Son of a Saint, a nonprofit organization for fatherless boys in New Orleans, and figured he could show boys like him how to be a man and teach them a potentially lifesaving skill.

“I live in New Orleans, Louisiana,” Lucas said. “We are currently seven feet under sea level. In New Orleans, we get flooding. Hurricane Katrina, it was flooding for 45 days.”

This year, at his second camp, the only boy scared of the water was too big for anyone but Lucas to hold while learning to doggy paddle. Lucas encouraged him to go into the pool, urging him to fight their fear together.

“Trust me,” Lucas said. “I won’t let you drown.”

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Weeks later, Lucas left New Orleans for training camp extra motivated. His girlfriend — with whom he bonded, in part, over missing a parent — is pregnant with their first child, a son, due in early November. Sometimes, when Lucas notices her belly growing, it makes him want to go outside in the sun and practice.

“When he gets here, I just want him to see his daddy doing the right thing.”

Lucas wants to teach his son all the lessons he had to gather from others, such as how to mow the lawn or drive on the highway. He’s picking up even more from Instagram and TikTok. He hopes to one day teach his son to play tackle.

And he wants to throw his son in the water. He wants him to flail on his own at first, to fight to float, because he believes struggling will help his son get comfortable. Even if he doesn’t like to swim, Lucas’s top priority is for his son to never feel how he sometimes felt around water.

“He’s not gonna have a fear of it,” he said.

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Advice | Carolyn Hax: Fiancé secretly tracks ‘gold digger’s’ contribution to shared home

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Advice | Carolyn Hax: Fiancé secretly tracks ‘gold digger’s’ contribution to shared home


Adapted from an online discussion.

Dear Carolyn: My fiancé and I bought a house late last year, with help from his parents. Though we both make good salaries, he comes from a rich family, and I was raised by a single mom. His parents insisted on giving us the money for our down payment and closing costs, and my mom gave us a dishwasher, which was very generous of all of them and also appreciated.

We have been working like mad on fixing the house up to get it ready for our wedding. Neither of us is very experienced with DIY, so it’s been a difficult, stressful process and caused some tension between us. We were discussing what kind of flooring to get for the front hall, and I wanted the more expensive but easier-to-work-with stuff. We got into a fight that escalated to the point of him accusing me of being a gold digger who was after his money. I was in shock and asked him why he would think that, and he said, “Because you told me about how you grew up poor,” and he’s had the thought in the back of his head since we bought the house. He told me he has a spreadsheet where he keeps track of how much he’s spent on me versus how much I’ve spent on him and he has spent thousands more on me, not even counting the money his parents gave us.

I told him that didn’t sound right since we split all costs 50/50, and he admitted it included my engagement ring. It is a family heirloom his great-aunt gave him, but he was counting the value of it.

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Later he apologized, but I’m still hurt and angry. I feel paranoid that maybe his family said something. I’m really sad that all this time I’ve been loving him and thinking he was wonderful, and he’s been thinking this way about me and even documenting it so he could throw it in my face.

He’s said the spreadsheet is just an “anxiety thing” and he loves me and wants us to work on fixing things. I think I do, too, but then I think of what he said and I get overwhelmed. How can I get over this?

“Gold Digger”: Whoo. I don’t know. I don’t know that I could.

He not only has kept the thought in the back of his mind for months? years? that you have poor values and ulterior motives and can’t be trusted, but kept records in the event he needs to prove it.

I wish I had a more hopeful answer for you. But he either lashed out impulsively and didn’t mean it, or accidentally told the truth — those are the only two choices — and the first is a stretch when there’s a spreadsheet as evidence of the second.

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Plus, the first is so vicious in its own right.

He says he loves you, okay. But trusts? Respects? Believes in?

Does he feel lucky every day to be the person you chose?

Best case, “just an ‘anxiety thing,’” still casts you as a threat to be controlled. So the “work on fixing things” doesn’t sound like DIY, but instead couples counseling at the least.

The family paranoia, by the way, is wasted stress — each of you stands on your own authority in choosing your partner, 100 percent, or you’re not ready to be anyone’s partner. If he’s that susceptible to their influence, then the problem is still between the two of you, so that’s where your attention belongs.

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