jefframnani + regulation   49

Google Exposed Data of Half a Million Users Until March but Didn’t Disclose It Because They Feared ‘Regulatory Interest’ — Pixel Envy
Companies are many things. Brave isn’t one of them. This also explains why Google’s CEO didn’t testify before congress with the rest of the oligarchs during the Cambridge Analytica scandal.

Google exposed the private data of hundreds of thousands of users of the Google+ social network and then opted not to disclose the issue this past spring, in part because of fears that doing so would draw regulatory scrutiny and cause reputational damage, according to people briefed on the incident and documents reviewed by The Wall Street Journal.
google  business  privacy  regulation  monopoly 
october 2018 by jefframnani
The Policymakers Saved the Financial System. And America Never Forgave Them. - The New York Times
A retrospective of the Financial Crisis of 2008 ten years later.

The response to the crisis was in many ways the high-water mark for a mold of centrist, technocratic policymaking that seeks to tweak and nudge existing institutions toward better outcomes. It also undermined any widespread popular support for that mode of governing for the foreseeable future.

It turns out, when you throw trillions of dollars at rescuing a system that most people don’t like very much in the first place, the result isn’t relief.

It’s anger.
FinancialCrisis2008  finance  regulation  history 
september 2018 by jefframnani
Single-family homes cover almost half of Los Angeles - Curbed LA

In 1946, when Los Angeles updated its zoning code (creating the system still in use today), the city’s single-family zones were more fully defined—with nearly three pages of restrictions and regulations. Separate classifications were also created for duplexes and “suburban zones,” with similar parking and yard-size requirements.

These zoning rules helped to create the neatly arranged residential communities Angelenos today know and love, but they also severely limited available space for new development. That’s become a pressing concern as LA deals with a severe shortage of affordable housing.

“We’re clinging to this model—the old version of the American Dream,” housing advocate Mark Vallianatos tells Curbed. “It doesn’t make sense to reserve large portions of any city for only one home with a yard and just one family.”
LosAngeles  history  housing  regulation 
september 2018 by jefframnani
How Uber is making traffic even worse
Why did cities restrict taxis through use of medallions again? We get to learn all the same lessons all over again. Because disruption.
uber  lyft  transportation  regulation  traffic 
september 2018 by jefframnani
Amazon’s Antitrust Antagonist Has a Breakthrough Idea - The New York Times
It’s about time we revisited our narrow view of antitrust.

“Ideas and assumptions that it was heretical to question are now openly being contested,” she said. “We’re finally beginning to examine how antitrust laws, which were rooted in deep suspicion of concentrated private power, now often promote it.”

Unchecked business consolidation and market monopoly cause economic dysfunction that people are beginning to feel.

“The whole country has been struggling to understand why the economy is not operating in the right way,” Mr. Cicilline said. “Wages have remained stagnant. Workers have less and less power. All we’re trying to do is create a level playing field, and that’s harder when you have megacompanies that make it virtually impossible for small competitors.” He added, “We’re at the very beginning of solutions to this.”
amazon  business  monopoly  legal  regulation  antitrust 
september 2018 by jefframnani
Net neutrality is dead — what now?

As of June 11th, the legal protections against content discrimination on the internet are gone. As far as the FCC is concerned, net neutrality is dead.
internet  regulation  policy 
june 2018 by jefframnani
Better practices for audits
By Paul Hammant. On achieving continuous delivery in a regulated environment.
ContinuousDelivery  auditing  compliance  regulation  build  ReleaseManagement 
june 2018 by jefframnani
Paul Ford: Facebook Is Why We Need a Digital Protection Agency - Bloomberg

Facebook’s recent debacle is illustrative. It turns out that the company let a researcher spider through its social network to gather information on 50 million people. Then the Steve Bannon-affiliated, Robert Mercer-backed U.K. data analysis firm Cambridge Analytica used that data to target likely Trump voters. Facebook responded that, no, this was not a “breach.”

OK, sure, let’s not call it a breach. It’s how things were designed to work. That’s the problem.

The word “leak” is right. Our sense of control over our own destinies is being challenged by these leaks. Giant internet platforms are poisoning the commons. They’ve automated it. Take a non-Facebook case: YouTube. It has users who love conspiracy videos, and YouTube takes that love as a sign that more and more people would love those videos, too. Love all around! In February an ex-employee tweeted: “The algorithm I worked on at Google recommended [InfoWars personality and lunatic conspiracy-theory purveyor] Alex Jones’ videos more than 15,000,000,000 times, to some of the most vulnerable people in the nation.”

Given that the federal government is currently one angry man with nuclear weapons and a Twitter account, and that it’s futile to expect reform or self-regulation from internet giants, I’d like to propose something that will seem impossible but I would argue isn’t: Let’s make a digital Environmental Protection Agency. Call it the Digital Protection Agency. Its job would be to clean up toxic data spills, educate the public, and calibrate and levy fines.
facebook  privacy  ethics  politics  policy  regulation  google  data 
march 2018 by jefframnani
How Apple is paving the way to a ‘cloud dictatorship’ in China | Hong Kong Free Press HKFP

The US-based global tech giant Apple Inc. is set to hand over the operation of its iCloud data center in mainland China to a local corporation called Guizhou-Cloud Big Data (GCBD) by February 28, 2018. When this transition happens, the local company will become responsible for handling the legal and financial relationship between Apple and China’s iCloud users. After the transition takes place, the role of Apple will restricted to an investment of US one billion dollars, for the construction of a data center in Guiyang, and for providing technical support to the center, in the interest of preserving data security.

Apple says the handover is due to new regulations that cloud servers must be operated by local corporation. But this is unconvincing. China’s Cybersecurity Law, which was implemented on June 1 2017, does demand that user information and data collected in mainland China be stored within the border. But it does not require that the data center be operated by a local corporation.
apple  china  cloud  government  policy  regulation  privacy 
february 2018 by jefframnani
Michael Tsai - Blog - Apple Widens Ban on Templated Apps

What’s unfortunate about the expanded policy enforcement is that these app makers specifically target the small business market. They build apps for businesses that don’t have the internal resources to build their own apps or can’t afford to hire a custom shop to design a new iOS app from scratch.
apple  ios  mobile  monopoly  regulation  business  policy 
december 2017 by jefframnani
Pro-Neutrality, Anti-Title II – Stratechery by Ben Thompson
The sky might not fall down if ISP’s go back to being regulated under Title I. He prefers a light touch when it comes to regulation. His main point is that ISP’s weren’t guilty of discrimination (much) in the prior regime, and there were methods in place to keep them in check like public pressure.

I agree with his point that we have bigger problems like lack of competition for ISP’s and the big industrial players like Netflix, Facebook, and Google.

I’d also note that companies like Google and Netflix already have massive advantages along these lines: Netflix places its content on servers within ISPs, and Google has an entire worldwide private network to ensure its results are milliseconds faster than they might be otherwise. The startups that challenge them will do so by being different, which means keeping open the number of possible ways to differentiate is a good thing.

What is worth far more attention is the state of competition in broadband generally: ISPs have lobbied for limits on public broadband in 25 states, and many local governments make it prohibitively expensive for new ISPs to challenge incumbents (and Title II requirements don’t help either).

And, I’d add, if neutrality and foreclosed competition are the issue net neutrality proponents say they are, then Google and Facebook are even bigger concerns than ISPs: both are super-aggregators with unprecedented power and the deepest moats ever seen in technology, and an increasing willingness to not be neutral.
internet  legal  regulation  isp  business  monopoly  telecom 
november 2017 by jefframnani
We Can’t Trust Facebook to Regulate Itself

At a company that was deeply concerned about protecting its users, this situation would have been met with a robust effort to cut off developers who were making questionable use of data. But when I was at Facebook, the typical reaction I recall looked like this: try to put any negative press coverage to bed as quickly as possible, with no sincere efforts to put safeguards in place or to identify and stop abusive developers. When I proposed a deeper audit of developers’ use of Facebook’s data, one executive asked me, “Do you really want to see what you’ll find?”
facebook  privacy  regulation 
november 2017 by jefframnani
Twitter finds hundreds of accounts tied to Russian operatives - The Washington Post

The Washington Post reported this week that some of the 3,000 Facebook ads bought by Russian operatives promoted African American rights groups, including Black Lives Matter. Those ads were targeted at users in specific locations such as Ferguson, Mo., and Baltimore, two cities that have faced violent protests over police shootings of black men. Ads aimed at voters in other regions, meanwhile, suggested that the same groups posed a rising political threat.

Other ads featured Muslims supporting Democrat Hillary Clinton for president and were targeted at Facebook users who might fear Muslims.

Facebook, Google and Twitter are being summoned to a public hearing before the Senate Intelligence Committee on Nov. 1.

Alexander B. Howard, deputy director of the Sunlight Foundation, said there is plenty of evidence that Russian intelligence operatives have been on Twitter for years and have used the platform to amplify messages.

“We need to think very carefully about what role we want these companies to have in our debate — and since these platforms largely regulate themselves, what kind of accountability we want them to have,” Howard said.

Silicon Valley has long enjoyed a hands-off approach from regulators and has become a major lobbying force in Washington to keep things that way. But that attitude appears to be shifting quickly.
twitter  facebook  google  advertising  monopoly  russia  government  regulation  policy  legal 
september 2017 by jefframnani
On the Equifax Data Breach - Schneier on Security
Data breaches are an economic externality. Only government regulation can correct this market imbalance of harm and unaccountability.

This market failure isn't unique to data security. There is little improvement in safety and security in any industry until government steps in. Think of food, pharmaceuticals, cars, airplanes, restaurants, workplace conditions, and flame-retardant pajamas.

Market failures like this can only be solved through government intervention. By regulating the security practices of companies that store our data, and fining companies that fail to comply, governments can raise the cost of insecurity high enough that security becomes a cheaper alternative. They can do the same thing by giving individuals affected by these breaches the ability to sue successfully, citing the exposure of personal data itself as a harm.
equifax  security  capitalism  economics  government  regulation 
september 2017 by jefframnani
Ends, Means, and Antitrust – Stratechery by Ben Thompson
On what constitutes a competing product?

This is the aspect of the European Commission’s decision that I have the biggest problem with. I agree that Google has a monopoly in search, but as the Commission itself notes that is not a crime; the reality of this ruling, though, is that making any money off that monopoly apparently is. And, by extension, those that blindly support this decision are agreeing that products that succeed by being better for users ought not be able to make money.

Europe looks to have gotten the decision right, but the execution of the remedy wrong. Figuring out the best way to preserve competition while not hurting consumers will the the biggest challenge going forward.

In short, I agree with the ends as far as the European Commission’s ruling is concerned: Google is a monopoly, and they act badly. In this case, though, I simply can not tolerate the means: I can not see any compelling case in which consumer welfare is better served by offering answers they didn’t actually ask for, and attacking an ad unit feels a lot more like an attempt to hurt a company as opposed to helping competition.
google  monopoly  antitrust  europe  regulation 
june 2017 by jefframnani
The SEC changes rules governing accredited investors and let's retail investors invest in private companies.

Say hello to your next investment bubble. The financiers always target the retail investors. See stocks, and housing bubble for examples. Now you can fleece a retail investor without going public. Blech.

"When Title III goes into effect in 90 days, everyday citizens will legally have the right to invest in any private startup. This may not seem revolutionary given the amount of crowdfunding websites currently available, but —under the new law— millions of non-accredited investors will be allowed to enter the new capital market online, effectively shifting the venture capital landscape."

"We’ve seen with Reg A+ is that equity crowdfunding is really an exercise in compelling storytelling and effective digital marketing” said Marble, CEO of CrowdfundX. “We expect that the companies who succeed in raising capital under Title III will be the ones who not only have great products or services, but are able to execute a thoughtful, multi-channel marketing plan.”
finance  investing  technology  startups  regulation 
november 2015 by jefframnani
FanDuel, DraftKings 'Insider Trading' Allegations: An Explainer - ABC News
Like any stock market, participants want assurances that insiders aren't trading against them.
regulation  policy  business  sports  markets 
october 2015 by jefframnani
Europe's carmakers caught up in VW storm
Yet another instance of "trust, but verify". In this case the verification was circumvented by fraudulent software.
automobile  regulation  fraud  environment 
september 2015 by jefframnani
The Big Lie
Nice bullet point list of how the financial crisis happened
banking  regulation  FinancialCrisis2008 
november 2011 by jefframnani
SEC Pays $755,000 To Settle With Fired Staffer by Wall Street & Technology
The U.S. Securities and Exchange Commission Tuesday agreed to pay $755,000 to a former staff attorney who was fired while he was probing possible insider trading at a prominent hedge fund.

Talk about regulatory capture.
finance  government  regulation  sec  FinancialCrisis2008 
july 2010 by jefframnani
The Carbon Disclosure Project
The Carbon Disclosure Project is an independent not-for-profit organization holding the largest database of primary corporate climate change information in the world.
energy  climatechange  business  regulation 
april 2010 by jefframnani
How to reduce risk on Wall Street? Make the banks pay.
Matthew Richardson and Nouriel Roubini lay out a policy suggestion about how to manage systemic risk.
banking  regulation  policy  financialcrisis2008 
april 2010 by jefframnani
Op-Ed Columnist - Bank Failures - Why Georgia? -
The case of Georgia shows that bad behavior by many small banks can do as much damage as misbehavior by a few financial giants.
banking  finance  regulation  financialcrisis2008  PaulKrugman  nytimes 
april 2010 by jefframnani
Op-Ed Contributor - How to Reform Our Financial System -
Paul Volcker writes an OpEd for the NYT about proposed financial regulation reform.
PaulVolker  government  policy  regulation  FinancialCrisis2008 
february 2010 by jefframnani
At Failed Banks, Post-Mortems Disclose Excessive, Yet Obvious, Risk -
How will future regulations be effective when previous regulators knew there's a problem, had the tools to address the issues they found, and yet did nothing to prevent it?
economics  regulation  FinancialCrisis2008  banking 
december 2009 by jefframnani
Financial Crisis Inquiry Commission set to Meet
Constructive suggestions for where and how the Financial Crisis Inquiry Committee should start its investigation.
finance  banking  regulation  FinancialCrisis2008  government  policy 
december 2009 by jefframnani
Calculated Risk: Volcker on Financial Reform
Excerpts from Paul Volcker's testimony for the House Financial Services committee where he provided his thoughts on financial services regulatory reform.
finance  economics  government  policy  regulation  volker  FinancialCrisis2008 
september 2009 by jefframnani
How Firms Wooed a U.S. Agency With Billions to Invest -
A good example of what economists call, "Regulatory Capture," occurring at the PBGC. Also a good example of why making and enforcing procurement policies are hard.
government  finance  regulation  RegulatoryCapture 
july 2009 by jefframnani
How Not to Regulate - Floyd Norris Blog -
Commentary on the complicity of the S.E.C. regarding the financial crisis.
finance  FinancialCrisis2008  government  regulation 
april 2009 by jefframnani
The Minsky Moment: Comment: The New Yorker
Remembering Hyman P. Minsky who had contrarian views of Wall St.'s version of modern finance and regulation 25 years ago.
finance  Economics  government  banking  regulation  minsky 
november 2008 by jefframnani Brooksley Born `Vindicated' as Swap Rules Take Shape
The acting chairman of the Commodity Futures Trading Commission is among U.S. officials now seeking regulation of private derivative contracts, echoing an unheeded warning a decade ago by a predecessor, Brooksley Born.
finance  government  regulation  FinancialCrisis2008  cftc 
november 2008 by jefframnani
The Big Picture | Fannie Mae and the Financial Crisis
Good summary of the housing crisis as it relates to Fannie Mae and Freddie Mac.
FinancialCrisis2008  economics  RealEstate  regulation  finance  housing  fanniemae 
october 2008 by jefframnani
FINRA - Home Page
The Financial Industry Regulatory Authority (FINRA), is the largest non-governmental regulator for all securities firms doing business in the United States.
finance  investing  stocks  bonds  research  education  Economics  regulation  banking 
september 2008 by jefframnani

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