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Bulletins

The Supreme Court has reduced the FTC's powers in a unanimous ruling

The court ruled that Section 13(b) of the Federal Trade Commission Act gives the FTC the power to create injunctive relief, not monetary relief.

The U.S. Supreme Court

The Supreme Court slashed FTC powers in a unanimous decision today.

Photo: Angel Xavier Viera-Vargas

The Supreme Court ruled in a 9-0 decision that the FTC does not have the power to demand fines or other forms of monetary restitution from companies that engage in deceptive practices under a certain section of the Federal Trade Commission Act.


The court ruled that Section 13(b) of the Federal Trade Commission Act gives the FTC the power to create injunctive relief, not monetary relief. The FTC had fined AMG Capital Management more than a billion dollars in restitution for deceptive practices around payday loans, and AMG sued the FTC in objection to the fine.

"Taken as a whole, the provision focuses upon relief that is prospective, not retrospective," Justice Stephen Breyer wrote. The FTC still has the power to issue monetary fines under other provisions of the act, according to Breyer's opinion.

People

To combat disinformation, centralize moderation

There's more to content moderation than deplatforming.

In addition to interplatform collaboration, big tech companies would also benefit from greater collaborations with academic researchers, government agencies or other private entities, the authors argue.

Image: Twitter

Yonatan Lupu is an associate professor of political science and international affairs at George Washington University. Nicolás Velasquez Hernandez is a lecturer at the Elliott School of International Affairs and a postdoctoral researcher at GW's Institute for Data, Democracy and Politics.

Florida Gov. Ron DeSantis' signing of a bill that penalizes social media companies for deplatforming politicians was yet another salvo in an escalating struggle over the growth and spread of digital disinformation, malicious content and extremist ideology. While Big Tech, world leaders and policymakers — along with many of us in the research community — all recognize the importance of mitigating online and offline harm, agreement on how best to do that is few and far between.

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As President of Alibaba Group, I am often asked, "What is Alibaba doing in the U.S.?"

In fact, most people are not aware we have a business in the U.S. because we are not a U.S. consumer-facing service that people use every day – nor do we want to be. Our consumers – nearly 900 million of them – are located in China.

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J. Michael Evans
Michael Evans leads and executes Alibaba Group's international strategy for globalizing the company and expanding its businesses outside of China.
Protocol | Fintech

Marqeta turns to a fintech outsider

Randy Kern, a Salesforce and Microsoft veteran, is taking a plunge into the payments world.

Randy Kern is joining Marqeta after decades at Microsoft and Salesforce.

Photo: Marqeta

Marqeta has just named a new chief technology officer. And it's an eyebrow-raising choice for a critical post as the payments powerhouse faces new challenges as a public company.

Randy Kern, who joined Marqeta last month, is a tech veteran with decades of engineering and leadership experience, mainly in enterprise software. He worked on Microsoft's Azure and Bing technologies, and then went on to Salesforce where he last served as chief customer technology officer.

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Benjamin Pimentel

Benjamin Pimentel ( @benpimentel) covers fintech from San Francisco. He has reported on many of the biggest tech stories over the past 20 years for the San Francisco Chronicle, Dow Jones MarketWatch and Business Insider, from the dot-com crash, the rise of cloud computing, social networking and AI to the impact of the Great Recession and the COVID crisis on Silicon Valley and beyond. He can be reached at bpimentel@protocol.com or via Signal at (510)731-8429.

Protocol | Policy

What can’t Jonathan Kanter do?

Biden's nominee to lead the DOJ's antitrust section may face calls to remove himself from issues as weighty as cracking down on Google and Apple.

DOJ antitrust nominee Jonathan Kanter's work as a corporate lawyer may require him to recuse himself from certain cases.

Photo: New America/Flickr

Jonathan Kanter, President Joe Biden's nominee to run the Justice Department's antitrust division, has been a favorite of progressives, competitors to Big Tech companies and even some Republicans due to his longtime criticism of companies like Google.

But his prior work as a corporate lawyer going after tech giants may require him to recuse himself from some of the DOJ's marquee investigations and cases, including those involving Google and Apple.

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Ben Brody

Ben Brody (@ BenBrodyDC) is a senior reporter at Protocol focusing on how Congress, courts and agencies affect the online world we live in. He formerly covered tech policy and lobbying (including antitrust, Section 230 and privacy) at Bloomberg News, where he previously reported on the influence industry, government ethics and the 2016 presidential election. Before that, Ben covered business news at CNNMoney and AdAge, and all manner of stories in and around New York. He still loves appearing on the New York news radio he grew up with.

Protocol | Enterprise

Couchbase plots escape from middle of database pack with $200M IPO

The company has to prove it can beat larger rivals like MongoDB, as well as fast-growing competitors like Redis Labs, not to mention the big cloud companies.

Couchbase celebrates its initial public offering on the Nasdaq market.

Photo: Nasdaq

At first glance, Couchbase appears to be stuck in the middle of the cloud database market, flanked by competitors with more traction and buzz. But fresh off a $200 million IPO Thursday, CEO Matt Cain relished the opportunity ahead to prove why his company can beat out rivals the market considers more valuable.

The NoSQL database provider's public offering helped propel Couchbase to a $1.2 billion valuation. But unlike one of the last big data-related IPOs, market leader Snowflake's historic debut on the public markets last December, Couchbase has some work to do to differentiate itself.

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Joe Williams

Joe Williams is a senior reporter at Protocol covering enterprise software, including industry giants like Salesforce, Microsoft, IBM and Oracle. He previously covered emerging technology for Business Insider. Joe can be reached at JWilliams@Protocol.com. To share information confidentially, he can also be contacted on a non-work device via Signal (+1-309-265-6120) or JPW53189@protonmail.com.

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