![]() Musk has said he wants the financial features to launch by the end of 2024. But the idea, however grand, has been met with skepticism. It’ll be on our platform… like you won’t need a bank account.” Musk’s vision of turning the microblogging service into a bank replacement is consistent with his idea of X as an “everything app,” similar to China’s WeChat. Regardless, the platform’s current owner, Elon Musk, wants the app to become the center of people’s financial lives.Īccording to The Verge, Musk told a recent staff meeting that he wants X to handle payments, adding: “When I say payments, I actually mean someone’s entire financial life.” Musk further clarified, sounding increasingly ominous: “If it involves money. And X (formerly Twitter) is no exception. On the other hand, social networks have proven not to be as trustworthy, just by the way they handle (or rather mishandle) our personal data. Would you trust a social network with your finances? If you ask us, the answer is a resounding “no.” First of all, banks may not be without their shortcomings, but they have perfected the craft of safeguarding our money over the years through trial and error. Musk wants you to ditch your bank in favor of X For one thing, Signal president Meredith Whittaker has already stated that Signal would rather leave the country than be “forced to build a backdoor.” Specifically, whether service providers will back down or buckle up under the threat of fines of up to 10 percent of their annual global turnover. In any case, now that the ‘Online Safety Bill’ has become law, it will be interesting to see how the situation unfolds. As for us, we are not at all sure that the UK will keep its promise. ![]() However, this does not mean that the British government won’t enforce the so-called “spy clause” in the future. Later (we wrote about it here), the UK regulator said that it won’t use the law to force service providers to scan messages because there was no safe and secure way to do so at the moment. They threatened to leave the country if this part of the law is not removed. Earlier this year, heads of the most popular end-to-end encrypted messengers, including WhatsApp, Viber, and Signal, argued that this clause effectively means that they will have to scan private chats, and this is impossible to implement without undermining end-to-end encryption (E2EE). One of the law’s stated goals is to stop the spread of child sexual abuse material (SCAM) both when it communicated “publicly or privately,” the latter meaning in private messages. The so-called ‘Online Safety Bill’ received royal assent on Thursday, and will now be enacted in several stages. UK’s ‘anti-encryption’ bill becomes lawĪ controversial piece of legislation, which can potentially undermine online privacy and security, has become law in the UK. Moreover, Google’s desire to exploit the EU regulation to make the browser market even more centralized is worrying, as it could undermine user choice, privacy, and security. These deals behind the scenes lead to centralization and stifle innovation and diversity in the tech industry. The report reveals that While Apple and Google compete fiercely in many domains, they also cooperate to maintain their dominance and influence. Google believes that once it happens, a number of European iPhone users with Chrome would triple, according to the internal documents cited by the Times. The laws should force Apple to open its closed ecosystem to other companies, including Google. Google is also planning to use the new anti-competition laws in the EU to its advantage. ![]() After Apple’s built-in Spotlight search feature started to perform exceptionally well, Google concocted a plan to introduce a similar feature in Chrome. According to the report, Google also actively worked to nip Apple’s aspirations to build its own search engine that could compete with Google Search. To put this into perspective, in 2022 Apple generated “just” around $4.7 billion with its own global advertising business. The Times reported, citing people with the knowledge of the deal, that Google paid Apple a whopping $18 billion in 2021. The only question was: how much? And now The New York Times has it answered. ![]() It has never been much of a secret that Google pays Apple huge sums of money to be the default search engine in Safari across all Apple’s devices. Google paid Apple $18 bn to remain iPhone’s default search engineĪpple and Google are bitter rivals, competing at many battlegrounds, ranging from mobile operating systems and app stores to advertising. In this edition of AdGuard’s Digest: report reveals how much Google pays Apple, a controversial ‘anti-encryption’ bill becomes law, X wants to be your bank, YouTube faces a surprise challenge, OpenAI is preoccupied with doomsday thoughts.
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