UK plan to curb online harms may prove too broad

Significance The OSB will impose a duty of care on internet companies, particularly social media firms and search engines, to protect their users from a range of online harms, both legal and illegal. The communications regulator Ofcom will oversee and enforce compliance, and issue codes of practice that companies must follow. Impacts Due to their narrower focus, EU rules on tackling online harmful activity will likely be easier to enforce. Regulating illegal and harmful activity on encrypted services remains the hardest policy challenge. The sheer volume of online content means that reliance on (imperfect) automated filters is unavoidable. Western rules on harmful online content will be studied carefully in other countries grappling with similar problems such as India. Since OSB will primarily target US ‘big tech’, the issue will further strain US-UK relations.

Significance Proposed measures include a plan outlined by European Commission President Jean-Claude Juncker in September, wherein the EU would oblige technology firms to remove terrorist and extremist content within one hour of being notified by the authorities or face fines of up to 4% of their annual turnover. Impacts Social media firms will invest more in automated filters -- regardless of their drawbacks. Removing extremist online content may impair law enforcement work by limiting their access to relevant materials and networks. Terrorist and extremist outfits will adapt to evade filters.


2015 ◽  
Vol 11 (1) ◽  
pp. 26-38
Author(s):  
Susan White

Synopsis Groupon, an online coupon company, was one of many companies that considered an initial public offering (IPO) during what might be a second technology/internet/social media IPO boom in 2011. Some companies chose to postpone their IPOs, while others took advantage of the media attention focussed on technology companies, and in particular, social media firms. Should investors hop on the tech IPO bandwagon, or hold off to better evaluate the long-term prospects of tech companies, and in particular social media companies? Would the valuation of Groupon justify an investment in IPO shares? Research methodology The case was researched from secondary sources, using Groupon's IPO filing information, news articles about the IPO and industry research sources, such as IBIS World. Relevant courses and levels This case is appropriate for an advanced undergraduate or MBA corporate finance or investment elective. Most introductory finance classes do not have the time to cover later chapters in a finance textbook, where information about IPOs is generally found. It could also be used at the end of a core finance course, where the instructor wanted to introduce this topic through a case study of a hard-to-value internet-based company to illustrate the difficulties in setting IPO prices. The case could also be used in an equity analysis class, an entrepreneurial finance class or an investment class, to spur discussion about valuing an internet company and choosing appropriate investments for pension fund investing. This case could also be used in a strategy class, focussing on the five forces question, and eliminating the valuation question. Theoretical basis There is a great deal of literature about IPOs and their long-term performance. An excellent source is Jay R. Ritter's research, http://bear.warrington.ufl.edu/ritter, which has a longer time period and more data than could be contained in this case. IPO puzzles include persistent undervaluing of IPOs; in other words, the offer price is lower than, and sometimes substantially lower than, the first day close price. A second issue is the generally poorer long-run performance of companies after their IPO when compared to similar firms that did not do an IPO.


2018 ◽  
Vol 25 (2) ◽  
pp. 374-399 ◽  
Author(s):  
Amber A. Smith-Ditizio ◽  
Alan David Smith ◽  
Walter R. Kendall

Purpose The purpose of this paper is to provide useful insights underlying the popularity of search engine technologies within a social media-intensive environment. Design/methodology/approach The degree of social interaction for social media platforms that integrate search engine technologies as part of the homepage and related experience is very mixed on part of its users. Through Barnard’ theory of authority acceptance, social media and its popularity may be examined by the ability of its users to create effective messages that can be broadcasted to many, yet controlled by individual. The hypotheses tested the interaction of social media and search engine with gender and technological ease-of-use factors. Findings The statistical evidence suggested that significant technological and ease-of-use aspects of search engines are not meaningful, based on gender alone. Males may slightly be prone to take advantage of such technologies, but their search and use patterns are not much varied from their female counterparts. Social media, generally more fully captured authority in individual search patterns, and a number of interactions among gender status, search engine characteristics, and social media were found to be significant and profound. The testing of these hypotheses directly reflect the complexities of unique needs among users of search engines within a social media environment. Practical implications Search engine technologies with a social media context has allowed for the development of a modern, user-driven internet experience that has been powered by users’ imagination and is designed to at least partially satisfy users’ need for self-directed engagement. Organizations are well advised to provide a mindful, less controlled, and more interactive presence of potential users, especially through an increasingly mobile presence. Originality/value Individuals as well as organizations are rapidly discovering that it is becoming easier to share and distribute their content, especially for more creative and innovative content, among all of its users. As businesses continue to focus on the quality of one’s own content, individuals are increasingly taking advantage of some tools to exert more control over their experiences and what they are willing to share, resulting in more user-based partnerships will formulate. As the transition of traditional forms of marketing to newer forms of integrated marketing, the future for search engines as marketing tools by social media users appears to be very promising in adding contextual content within users’ homepage.


Subject Uganda's social media tax. Significance Uganda in July began implementing a set of new taxes on internet-based services. These include a daily fee for use of ‘over-the-top’ (OTT) social media platforms (such as WhatsApp, Twitter or Facebook), and a tax on mobile money transactions. However, the measures have been fiercely opposed by the public and have drawn widespread condemnation as an infringement on freedom of speech. Impacts Nigeria is also mulling a social media tax; all sides will use the Uganda situation in ways that support their own views in that debate. Zambia’s government may use a proposed set of tough cybercrime laws to stifle dissent ahead of President Edward Lungu’s re-election bid. Tanzania will resist calls to reform new regulations requiring bloggers to pay for licenses to post online content.


Subject Election meddling. Significance With elections due in the EU, Canada and Australia in 2019 and the United States next year, social media firms have made significant efforts to prevent further misuse of their platforms. These efforts are likely to be effective, and manipulation of the kind attempted between 2016 and 2018 will not re-occur. However, the nature of the adversary has changed. The platforms are at risk of preparing to re-fight yesterday’s battles. Impacts Containing the spread of harmful content via fringe platforms is a significant regulatory challenge. Governments may increase their reliance on offensive cybersecurity campaigns to contain foreign interference. Increased privacy on Facebook will make policing fake content harder as the platform will have restricted access to user content.


Significance The bill will move to the Senate, where Republicans fear it over-reaches into states’ powers to manage elections. The standoff takes place within the context of the aftermath of the 2016 presidential election, in which Russians interfered via informational techniques and social media. The bill is designed to prevent another such occurrence, but the ability for actors to manipulate election results is more far-reaching than the methods addressed in this bill. Impacts The bill would authorise federal money annually to improve and maintain states’ election systems. Social media firms will face more government and public pressure to prevent foreign election interference via their platforms. Social media firms will find it difficult to police their platforms without increasing editorial control.


Headline ASEAN/INDONESIA: Terrorism could hit social media


Significance Interim Prime Minister General Prayuth Chan-ocha's government has already retained power for twice the length of the usual time between a coup and return to elected government, compared to recent military regimes (1991-92 and 2006-07). If elections are held in late 2018 as currently planned, it will be three times that length. Impacts Foreign social media firms such as Facebook will likely slow plans to expand their Thai operations. Bangkok will do what it can to keep both Washington and Beijing on side. Restrictions on the activities of journalists and rights activists are tightening.


Subject Falsehoods on social media Significance Recent reports that Russia is continuing its attempts to meddle with the 2020 US presidential elections has once again spotlighted efforts by social media firms to tackle the circulation of falsehoods on their platforms. Impacts Major geopolitical events, such as US elections, remain the primary focus of large disinformation campaigns by state-linked adversaries. The use of images, videos and fringe platforms will make tackling disinformation harder. Small changes to how social platforms work will prove ineffective.


Significance Facebook has indefinitely suspended Trump from its main platform and Instagram, while Twitter has done so permanently for his role in instigating violence at US Capitol Hill on January 6. These developments spotlight the role of social media firms in spreading and tackling hate speech and disinformation, and their power unilaterally to shut down public speech. Impacts Democratic control of the White House and Congress offers social media companies a two-year window to ensure softer regulation. The EU will push its new digital markets legislation with vigour following the events at US Capitol Hill. Hard-right social media will find new firms willing to host their servers, partly because their user numbers run to millions not billions.


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