#1 | Facebook investors want Zuckerberg out
Facebook is caught in a number of scandals and investigations related to its handling of user data while the Federal Trade Commission is also planning a record-breaking fine against the social media giant. Frustrated by these events, the company’s investors, gathered at a recent annual shareholder meeting, overwhelmingly supported the proposal to limit Mark Zuckerberg’s executive powers and reform Facebook’s corporate structure. But the proposal never had a chance in the first place as Zuckerberg, who controls the majority of voting shares, ensured it doesn’t pass. Nonetheless, shareholders voiced their concerns and showed that they don’t consider the current CEO as a solution to Facebook’s mounting problems.
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#2 | 5G airwave rights auction ends without much bidding
The Federal Communications Commission said that the latest auction of airwave rights suitable for 5G connectivity brought in only $2.7 billion, a small amount compared to money raised by the sales of 3G and 4G airwaves. AT&T and T-Mobile were the top bidders for rights in the 24 GHz and 28 GHz bands with each spending almost $1 billion. Verizon, United States Cellular, and wireless broadband startup Starry also took part in the event. These results prompted analysts to speculate that carriers don’t consider millimeter wave spectrum as critical for 5G service. In fact, companies might be saving money to bid on mid-wave spectrum bands in the 3 GHz to 4 GHz range that balance the need for higher capacity and the longer distance over which the signals can travel.
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#3 | The House Judiciary Committee launches antitrust investigation into Big Tech
The House Judiciary Committee is launching an antitrust probe of the tech industry. It will investigate major companies including Amazon, Apple, Facebook, and Google that, as committee chairman Jerrold Nadler puts it, “have come to capture control over key arteries of online commerce, content, and communications.” Congress lacks the power to break up businesses or levy fines, though, but it can shape the public debate by questioning senior tech executives, compiling reports, and adopting new legislation to address the matter. Meanwhile, the Justice Department and the Federal Trade Commission are also taking the first steps towards a potential probe into Google while increasing the oversight of other three tech giants. Read more here: https://cnn.it/2WLGxsr https://cnn.it/2WLGxsr
#4 |Can food delivery bots ever turn a profit?
Four-wheeled delivery robots, dubbed Kiwibots, have become a common sight at UC Berkeley’s campus. And although they’re touted as autonomous machines, media reports that they’re actually operated by remote workers in Colombia paid just $2 an hour. These employees use GPS and cameras to navigate robots and send instructions, which means that the company doesn’t need to equip robots with pricey lidar sensors. Also, humans have to pick up food and bring it to campus where Kiwibots transports it only 200 meters further. Due to that, many analysts remain unconvinced that delivery robots will ever become profitable and adopted on a massive scale.
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#5 | Amazon interested in buying Boost from Sprint and T-Mobile
Amazon is interested in buying Boost Mobile, a prepaid cellphone wireless service, in a deal that would go through if the merger of T-Mobile and Sprint gets regulatory approval. Retail giant would also be interested in any wireless spectrum that would be divested as part of the merger. Boost has around eight million customers and is valued around $4.5 billion if the sale includes wireless spectrum. And although it’s unclear why Amazon wants to enter the wireless industry, analysts speculate that the company might plan to create “5G services that includes both a 5G wireless network and the necessary cloud computing.” Read more here: http://bit.ly/2Io0MDg https://reut.rs/2Ijli7O