DoJ to scrap the Paramount antitrust rule that prohibits movie studios from buying or strong-arming movie theaters

Through the 1940s and 1950s, the DoJ went to war on the "studio system" -- a system whereby studios locked up actors in exclusive contracts and then bought or strong-armed all the movie theaters in America so that they'd screen whatever the studios made, freezing out independent productions from movie companies that might offer their talent a better, less restrictive deal. Read the rest

What the FTC should do AFTER it fines Facebook $3-5B

Facebook is about to pay the largest privacy-related fine in US history: $3-5B (the company made $3.3B in Q1/2019).

The FTC's fines are a nice start, but fines are just part of the cost of doing business. To change Facebook's conduct, the FTC should impose structural changes on the company, and EFF's Bennett Cyphers has some suggestions: ban third-party tracking; prohibit the combining of data from Whatsapp, Instagram and Facebook; and ban the company from targeting ads with information from data brokers.

That's for starters.

Stop Third-Party Tracking

Facebook uses “Like” buttons, invisible Pixel conversion trackers, and ad code in mobile apps to track its users nearly any time they use the Internet—even when they’re off Facebook products. This program allows Facebook to build nauseatingly detailed profiles of users’—and non-users’—personal activity. Facebook’s unique ability to match third-party website activity to real-world identities also gives it a competitive advantage in both the social media and third-party ad markets. The FTC should order Facebook to stop linking data it collects outside of Facebook with user profiles inside the social network.

Don’t Merge WhatsApp, Instagram, and Facebook Data

Facebook has announced plans to build a unified chat platform so that users can send messages between WhatsApp, Messenger, and Instagram accounts seamlessly. Letting users of different services talk to each other is reasonable, and Facebook’s commitment to end-to-end encryption for the unified service is great (if it’s for real). But in order to link the services together, Facebook will likely need to merge account data from its disparate properties.

Read the rest

Wells Fargo's punishment for fake account scandal: no more growth until Fed is "satisfied"

The Federal Reserve has concluded its investigation into Wells Fargo's decades' long practice of pressuring employees to open fraudulent accounts in the names of its customers to inflate its quarterly figures and rack up service charges. Read the rest