Industry News, Technology
A lot has happened in the tech world in April, we've covered a few of the top news stories for you in our latest news roundup such as; Netflix stock crashes, Elon Musk is buying Twitter, new EU law set to fine big tech firms to crack down on hate speech and you can now legally watch TV whilst behind the wheel of a self-driving car.
Netflix stock crashes
Netflix stock dropped 35%, wiping $50bn off its market cap and making it the worst-performing stock in the S&P 500 in 2022. The cause? Netflix lost 200k customers in this quarter and an estimated about 100m users are sharing passwords. The additional competition from other newer streaming services such as Disney+, HBO Max, and Amazon Prime hasn't helped either.
Read more here (CNBC)
Elon Musk strikes deal to buy Twitter for $44bn
The Twitter board has agreed to a $44bn (£34.5bn) takeover offer from Elon Musk. Musk, who made the shock bid less than two weeks ago, said Twitter had "tremendous potential" that he would unlock. He also called for a series of changes from relaxing its content restrictions to eradicating fake accounts. The firm initially rebuffed Mr Musk's bid, but it will now ask shareholders to vote to approve the deal.
Read more here (BBC Tech News)
New EU power to fine big tech billions in crackdown on hate speech, disinformation and harmful content
The European Union could fine big tech companies billions of pounds as part of a new landmark deal to tackle hate speech, disinformation, and other harmful online content. The new Digital Services Act will force companies including Facebook, Google, and Amazon to police themselves harder and make it easier for users to flag problems. EU officials finally clinched a deal that will impact all 27 member states.
Read more here (Sky News)
Watching TV whilst in self-driving car, allowed in new UK law.
Drivers in the UK will effectively be allowed to watch TV while behind the wheel of a self-driving car, under new rules announced by the country’s Department for Transport. Although drivers are currently restricted from viewing “non-driving related content” on a “television-receiving apparatus,” this rule would be waived under specific circumstances once the proposals come into force.
Read more here (The Verge)
Why investors are snapping up virtual land in a metaverse ghost town
Decentraland was first developed in 2017 by a group of young Argentine software engineers who envisioned a user-governed virtual world where people could develop experiences on plots of pixelated land, from art shows to poker games, through customized avatars. Through the Ethereum blockchain, they could buy and sell land using a special token called Mana. Decentraland was created to be a digital utopia but floods of money from investors are undermining that vision.
Read more here (Rest Of World)