Latest News
Facebook To Be Fined A Fortune Over Cambridge Analytica Scandal!
Published
6 years agoon
By
AlveerIn 2017, the UK Information Commissioner’s Office (ICO) launched an inquiry into voters’ data being obtained and used by political campaigns. This was following the Observer’s early investigative reports, into Cambridge Analytica, the political research firm. Facebook and Cambridge Analytica have been under scrutiny, for harvesting the data of millions of Facebook users around the globe, with the total number of people affected now at 87 million. The social media giant Facebook will be fined $ 664,000 for failing to protect users’ information by the UK’s privacy watchdog. While a fine of $ 664,000 is the biggest possible punishment available to the ICO, it is the same amount of money Facebook makes in just a few minutes. At the time of the infraction, the law on processing data was set out under the Data Protection Act of 1998, which imposed a maximum penalty of £ 500,00. However, Under the new Data Protection Act 2018, companies can be fined up to 4 % of global turnover, a substantially more serious penalty. In Facebook’s case, a fine could be as high as $ 1.9 bn, based on its revenue.
Elizabeth Denham, the Information Commissioner said she would penalize the social network platform as her office investigates how the data of millions of users was improperly accessed. Earlier, the CEO of Facebook Mark Zuckerberg was questioned by the U.S., and the EU lawmakers over how Cambridge Analytica accessed the personal data of such a huge number of Facebook users. During the EU referendum, Facebook was found to be at fault for failing to be clear about how the information had been harvested by others. According to reports, Denham said Facebook has failed to provide the kinds of protections they’re required to do under data protection laws.
However, the penalty could change as the agency would discuss the matter further with Facebook. Generally, the ICO does not reveal its initial investigations but this time, it shared the details of the amount of the penalty because of the hyped public interest toward the scandal. Also, the agency would next give an update in October, this year.
Erin Egan, Facebook’s Chief Privacy Officer, acknowledged in a statement Facebook should have done more to investigate claims about Cambridge Analytica and take action in 2015. Apart from this, the UK privacy watchdogs said the fallout from Facebook’s Cambridge Analytica scandal is only the beginning. The UK’s early efforts could inform ongoing investigations elsewhere in Europe as well as the United States, where a probe by the Federal Trade Commission could result in a penalty well into the hundreds of billions of dollars. The FBI and the Securities and Exchange Commission are also looking into Facebook’s ties to Cambridge Analytica.
You may like
Latest News
X Introduces Radar: A Game-Changing Real-Time Search Tool for Premium+ Subscribers!
Published
27 mins agoon
October 23, 2024X, formerly known as Twitter, has rolled out a new feature called Radar, available exclusively to its Premium+ subscribers. Designed to enhance real-time engagement, Radar aims to revolutionize how users track live content by offering powerful, real-time search capabilities. This feature is poised to transform how people stay updated on trending topics, breaking news, and live events.
What Is X’s New Tool, Radar?
Radar is a cutting-edge tool that provides Premium+ users with instant access to up-to-the-second updates on everything from viral moments to major events. Unlike conventional search functions that rely on historical data or general algorithms, Radar focuses on delivering real-time results. Whether it’s the latest political developments, sports updates, or breaking news, users can access fresh content as it happens.
Evolution of the Tool
Originally known as “Insights” and initially offered to Verified Organizations for monitoring trends, the tool has been rebranded and expanded to Premium+ subscribers. Radar is particularly useful for those who need immediate access to the latest information—journalists, content creators, marketers, or even casual users eager to stay ahead of social conversations will find it invaluable.
How Radar Works
Leveraging X’s massive and constantly updating data stream, Radar surfaces relevant content based on live events. By entering keywords or hashtags, users can access the latest posts related to their query, with results filtered by both time and relevance. This functionality allows Premium+ subscribers to follow discussions in real time, offering a more dynamic and immersive experience compared to what regular users receive.
Example Use Cases
For example, during a high-stakes sports match or an election night, Radar provides continuously updated posts, images, and videos, ensuring that users don’t miss out on key moments. This constant refresh of information gives Premium+ subscribers a competitive edge in staying informed.
A Premium Feature for Premium Users
By limiting Radar to Premium+ subscribers, X is positioning the tool as a high-value feature for its top-tier members. This move aligns with the platform’s strategy of offering exclusive tools to its paying user base. Alongside Radar, Premium+ members already enjoy perks such as an ad-free experience, longer post visibility, and the ability to edit posts.
Subscription Details
The Premium+ subscription is priced at $16 per month or $168 per year when purchased via the web. It also includes a verified checkmark. The introduction of Radar could attract more users to upgrade their subscriptions as the demand for real-time information continues to grow in today’s fast-paced digital landscape.
Competitive Landscape
As X continues to evolve its platform and introduce new features, Radar represents a significant step in the company’s effort to monetize its offerings more effectively. By catering to the needs of users who rely on immediate access to information, X is solidifying its position as a go-to platform for real-time updates.
Market Context
The launch of Radar comes at a time when competition in the social media space is intensifying with platforms like Bluesky and Threads emerging as alternatives. By providing enhanced functionalities like Radar, X aims to retain existing users while attracting new ones who seek timely insights into current events.
Conclusion
With the introduction of Radar, X is not only enhancing user experience but also reinforcing its commitment to providing valuable tools that meet the demands of modern digital communication. The focus on real-time engagement positions X favorably in an increasingly competitive market where timely information is paramount.
As this feature rolls out and evolves further, it will be interesting to see how it impacts user engagement on the platform and whether it successfully converts more users into paying subscribers.
Latest News
Zomato CEO Deepinder Goyal Launches New Health Tech Venture ‘Continue’ for Wellness Tracking!
Published
1 day agoon
October 22, 2024Deepinder Goyal, co-founder and CEO of Zomato, has entered the health tech space with a new venture called Continue, focusing on wellness tracking and mental health. According to a report by Moneycontrol, the startup, still in stealth mode, aims to become “The Ultimate Health Tracker,” though detailed information is yet to be disclosed.
Background of Continue
Continue was incorporated in April 2023 under the name Upslope Advisors Pvt Ltd. Filings with the Ministry of Corporate Affairs list Goyal as the Director, with two Zomato employees—Akriti Mehta and Simrandeep Singh—serving as Additional Directors. This new venture reflects Goyal’s deepening interest in promoting longevity and human wellness, particularly through mental health solutions.
Vision and Features
While the platform’s exact features remain under wraps, it is expected to offer tools for:
- Nutrition Tracking: Helping users monitor their dietary habits and nutritional intake.
- Sleep Monitoring: Providing insights into sleep patterns and quality.
- Preventive Healthcare: Encouraging proactive health measures to prevent illness.
There are indications that Continue may evolve into a comprehensive wellness platform addressing both mental and physical health needs.
Goyal’s Previous Involvement in Health Tech
Goyal’s interest in health tech is not new. He has previously invested in Ultrahuman, a wearable tech startup that enables users to monitor key health metrics such as sleep and heart rate. His personal fitness journey aligns with his growing involvement in wellness—Goyal has publicly shared that he lost 15 kilograms over the past four years by prioritizing his health alongside professional commitments.
Investment Background
Goyal first invested in Ultrahuman in 2021, increasing his stake over time. He is recognized as one of the most prominent angel investors in the company, holding more than 8% of its shares. Ultrahuman offers products like the Ultrahuman Ring, which tracks various health metrics, reinforcing Goyal’s commitment to integrating technology with personal wellness.
Clarification on Zomato’s Focus
Despite Goyal’s focus on Continue, Zomato clarified that this new venture is his personal project and unrelated to the company’s core operations. Zomato will remain focused on its four key business segments:
- Food Delivery
- Blinkit (grocery delivery)
- Hyperpure (restaurant supplies)
- Events Management
This distinction emphasizes that while Goyal is exploring new opportunities in health tech, Zomato’s primary business activities will not be affected.
Potential Impact of Continue
With Continue, Goyal is poised to make a significant mark in the health tech space, building on his expertise and passion for wellness. The venture could play a crucial role in addressing growing concerns about mental health and overall well-being, especially as more individuals seek holistic solutions for their health needs.
Market Context
The launch of Continue comes at a time when there is increasing consumer interest in health tracking technologies. According to recent reports, India’s digital healthcare industry is expected to grow tenfold from $2.7 billion in 2022 to $37 billion by 2030. This growth indicates a robust market opportunity for ventures like Continue that aim to integrate wellness into everyday life.
Conclusion
Deepinder Goyal’s launch of Continue signifies an exciting development in the intersection of technology and health. As he leverages his experience from Zomato and his personal journey toward better health, Continue has the potential to become a vital player in the wellness sector.
By focusing on innovative solutions for nutrition, sleep, and preventive care, Goyal aims to contribute significantly to improving individual well-being while fostering a culture of health consciousness among users. As details about Continue emerge, it will be interesting to see how this venture shapes the future of health tech in India.
Latest News
Eutelsat Launches First Satellites with SpaceX Following Merger with OneWeb!
Published
1 day agoon
October 22, 2024Satellite operator Eutelsat successfully launched 20 satellites for its communications network on Sunday, October 20, marking the company’s first deployment since its merger with Britain’s OneWeb in September 2023. The launch utilized a SpaceX Falcon 9 rocket, which lifted off from California’s Vandenberg Space Force Base at 5:13 GMT.
Background of the Merger
As the world’s third-largest satellite operator by revenue, Paris-based Eutelsat now oversees more than 600 low-earth orbit (LEO) satellites, supporting a wide range of broadcasters, telecom providers, and radio stations. The merger with OneWeb was completed after gaining approval from Eutelsat’s shareholders in September 2023, creating a powerful entity capable of offering integrated geostationary (GEO) and LEO satellite services.
Statements from Leadership
“This is the first OneWeb satellite launch since our merger, and we plan to launch more over the next few years,” said Eva Berneke, CEO of Eutelsat. “We aim to integrate further into the telecom ecosystem. While satellites represent a smaller niche, they play a vital role in the broader connectivity landscape where telcos dominate.”
Strategic Market Expansion and India Focus
With a $4 billion order backlog, Eutelsat is positioning itself to capitalize on emerging markets like India and Saudi Arabia. India’s satellite services market is projected to grow at an annual rate of 36%, reaching $1.9 billion by 2030. However, regulatory delays have hindered international players, including Eutelsat and Elon Musk’s Starlink, from entering the Indian market.
“We have orders awaiting clearance in India,” Berneke noted. “Once the market opens, we’ll begin construction immediately.”
Potential Challenges
The regulatory landscape in India poses challenges for foreign companies looking to establish a foothold. The Indian government has strict guidelines regarding satellite operations, which can delay entry for companies like Eutelsat.
In-Flight Connectivity Plans
Eutelsat is also exploring new partnerships with aviation companies to offer in-flight connectivity, including onboard internet services. The company anticipates that these initiatives, along with market expansions, will contribute to revenue growth starting next year.
Importance of In-Flight Connectivity
The demand for reliable in-flight internet services has surged as airlines and passengers increasingly expect connectivity during flights. By tapping into this market, Eutelsat aims to diversify its revenue streams and enhance its service offerings.
Conclusion
This successful satellite launch represents a significant milestone for Eutelsat as it strengthens its position in the rapidly evolving global satellite communications market. The merger with OneWeb not only enhances Eutelsat’s capabilities but also positions it strategically to meet growing demands for connectivity across various sectors.
As Eutelsat navigates regulatory challenges and expands its service offerings, it will be crucial for the company to leverage its combined resources effectively. The focus on emerging markets and new technologies could pave the way for substantial growth in the coming years, making Eutelsat a key player in the future of satellite communications.
Recent Posts
- X Introduces Radar: A Game-Changing Real-Time Search Tool for Premium+ Subscribers!
- Zomato CEO Deepinder Goyal Launches New Health Tech Venture ‘Continue’ for Wellness Tracking!
- Eutelsat Launches First Satellites with SpaceX Following Merger with OneWeb!
- GalaxEye to Launch ‘Drishti’ Satellite via SpaceX, Aiming to Revolutionize Earth Observation!
- Upgrad Raises $60 Million from Temasek at a $2.25 Billion Valuation!
- Federal Judge Grants Google Temporary Pause on Play Store Overhaul Order!
- Qualcomm Cancels Snapdragon Dev Kit, Refunds Orders!
- Elon Musk’s xAI Seeks AI Tutors with Competitive Pay of Up to Rs 5,000 per Hour!
- Meta Unveils AI Model for Evaluating Other AI Models’ Performance!
- Elon Musk’s X Redefines Account Blocking: What It Means for Users!
- “Elon Musk Praised Ratan Tata’s Ambitious Nano Project” what do you think?
- Kunal Kamra Challenges Ola Electric’s Transparency, Sparks Clash with CEO Bhavish Aggarwal!
- Google Flights Introduces ‘Cheapest’ Tab to Help Travellers Find the Lowest Airfares!
- Bain & Company Expands Partnership with OpenAI to Drive AI Adoption Across Industries!
- Disney-Reliance Joint Venture to Exclusively Stream Live Sports on Disney+ Hotstar!
- Employees Who Can’t Work Five Days In-Office Should Consider Quitting, Says Amazon AWS CEO!
- Elon Musk vs. Reliance Jio vs. Airtel: The Satellite Internet Debate in India!
- IndiGo and Spotify Team Up to Launch “6E Shuffle” with Customized Travel Playlists and Free Spotify Premium!
- Byju Raveendran Plans New EdTech Venture Amid Byju’s Turmoil!
- Netflix Surpasses Earnings Expectations with 5.1 Million New Subscribers!