Why Are 21 Billionaires Moving Their Money ASAP?

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." Starting November 19 it could cut the entire tech marketing by HALF.

Spain's leader wants the EU to 'make social media great again.' Here's how

JOSEPH WILSON and JAMEY KEATEN
January 23, 2025

DAVOS, Switzerland (AP) -- Spanish Prime Minister Pedro Sánchez is launching a crusade against what he sees as the downsides of social media.

The Socialist leader wants the European Union, which already leads the world in internet regulation, to put additional checks on Elon Musk's X, trendsetting video app TikTok, and Meta's Facebook and Instagram for having, in his words, put participatory democracy and the mental health of users at risk.

"I believe social media are now a common resource for humanity, like the oceans, and they should be protected and managed accordingly," Sánchez said.

While attending the World Economic Forum in Davos, Switzerland, the prime minister on Wednesday laid out his vision for how the EU might "make social media great again." Here is what you need to know about his three-point plan:

Step 1: End user anonymity

Sánchez he would propose legislation aimed at ending anonymity for social media users when the EU's leaders meet in Brussels on March 20-21.

His idea is for each username to be a pseudonym that must be registered under a real identity with European authorities, using a "European digital identity wallet."

"This way citizens could use nicknames if they want, but in the case of a crime, public authorities would be able to connect those nicknames to real people and hold them responsible," he said.

Sánchez argued that "no one can send packages without showing an I.D. or buy a hunting weapon without giving their name, and yet we are allowing people to roam freely on social networks without linking their profiles to a real identity. This paves the way for misinformation, hate speech and cyber harassment because it is facilitating the use of bots and it is allowing people to act without being held accountable for their actions."

The proposal, however, clashes with longstanding demands of digital rights groups, which say that protection of online anonymity is important to protect freedom of speech and removing it could have a chilling effect. Such groups say anonymity is a cornerstone of online communications and a critical tool to challenge authority and express controversial opinions.

Step 2: More transparency for algorithms

Sánchez will urge European officials to apply the 27-nation bloc's Digital Services Act to "force open the black box of social media algorithms." The EU adopted the law in 2023 with the stated goal of keeping internet users safe online.

The Spanish leader says the EU also needs to reinforce the European Centre for Algorithm Transparency so it can "inspect the functioning of social networks without any limitations."

Tech companies might resist attempts by authorities to peek under their programming hoods, citing a desire to protect their intellectual property. But authorities on both sides of the Atlantic have made moves to investigate algorithms.

EU officials said last week that they ordered X to turn over more information as part of a Digital Services Act investigation into the social media platform, including on the algorithms used by its recommendationr system. Meanwhile, Missouri's attorney-general unveiled plans for new rules on algorithm transparency, including giving internet users a choice of the algorithms their social media platforms use.

Step 3: Hold tech CEOs responsible

The third plank of Sánchez's plan is for the EU to go right up to the top of the social media companies for any social ills produced by their platforms.

Sánchez said he recommends that "social media CEOs (be) held personally accountable for non-compliance with laws and norms in their platforms," describing such accountability as no different than what most business owners have for their products.

Britain has taken a similar step. Under online safety rules, senior managers at tech companies face criminal liability in certain situations, mainly for the relatively minor issue of failing to respond properly to information requests.

Why is Sánchez taking aim at social media?

Spain has joined governments around the world that are concerned with the impact of social media on children and teenagers. Spain has limited the use of mobile phones in schools, while Sánchez has decried what he calls an epidemic of online pornography that increasingly is reaching young children.

At Davos, the prime minister challenged the involvement of social media platform owners like Musk in politics. After helping to bankroll Donald Trump's candidacy to reclaim the U.S. presidency, the world's richest man has ventured into European politics.

Mark Zuckerberg, Meta's CEO and the founder of Facebook, also has sought Trump's approval. Meta has rolled back its content moderation, a move that critics say will let misinformation and online abuse spread unchecked.

"(The) owners of the big social media consoles, a small group of techno billionaires ... are no longer satisfied with holding nearly total economic power," Sánchez said. "Now they also want political power in a way that is undermining our democratic institutions."

Sanchez's office said Thursday that it did not have details to share beyond the ones he outlined a day earlier.

Argentine President Javier Milei, who also was attending the Davos meeting and on Thursday gave a speech railing against what he described as the evils of "woke" progressive policies, panned Sánchez's proposal.

"I am not surprised that a Socialist like Sánchez wants to silence those who think differently," Milei told reporters after his speech.

___

Wilson reported from Barcelona, Spain. AP Technology Writer Kelvin Chan contributed from London.

Continue Reading...

Popular

TSLA, PLTR, IREN And More: 5 Stocks That Dominated Investor Buzz This Week

Retail investors talked up five hot stocks this week (Nov. 3–7) on X and Reddit's r/WallStreetBets: TSLA, PLTR, MSTR, AMD, IREN.

Former Fed governor's stock trades violated the central bank's ethics rules

A former Federal Reserve governor who retired in August listed several stock trades in her financial disclosure documents for 2024 that violated the central bank's ethics rules.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Trump White House Clamps Down on Press Access

White House restricts reporter access to West Wing Room 140; NSC cites sensitive material, echoing Pentagon curbs, raising press concerns.

Tanka Bets Its Memory-Native AI Platform Can Redefine How Startups Collaborate and Scale

Tanka, a U.S.-based AI collaboration platform headquatered in Bay Area, is betting on its home market with a bold premise — that the future of enterprise software will depend not on bigger models or flashier chatbots, but on memory. 

Forget Amazon's 1997 IPO... This Could Be 287 Times Bigger - Ad

Since Amazon's IPO in 1997, it climbed enough to turn $100 into $250,000. Now, one man says Elon Musk could be gearing up to take his internet satellite giant public... in what Fortune magazine says will be the biggest IPO in history! James Altucher is sharing how ANYONE can get a pre-IPO stake... with as little as $100!

Donald Trump's Popularity Falls As Shutdown Drags On

President Donald Trump's approval rating has continued to drop, with the latest poll showing a significant decline, raising concerns for the Republican Party as the 2026 midterm elections approach.

Another Gold High? Here's the Move Wall Street Is Missing ... - Ad

Gold just surged past $4,200, up 45% in a year - but Sean Brodrick says $6,900 could be next. History shows when gold booms, one hidden play has delivered far bigger gains - 21x, 49x, even 1,386x. The same strategy once handed 26,000% profits. And Sean says it's back on the table now.

Boeing may face its first civil trial seeking damages for deadly Ethiopia crash

More than six years after a jetliner crashed in Ethiopia, the first civil trial stemming from the disaster that killed all 157 people on board appears poised to move forward.

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Britain's Treasury chief prepares the ground for a tax-hiking budget

LONDON (AP) — U.K. on Tuesday signaled she will raise taxes in her budget this month, arguing that the economy is sicker than the government knew when it took office last year.

Pfizer clinches deal for obesity drug developer Metsea after a bidding war with Novo Nordisk

NEW YORK (AP) — U.S. pharmaceutical giant Pfizer signed a deal to purchase development-stage obesity drugmaker Metsera Inc., winning a bidding war against Novo Nordisk, the Danish drugmaker behind weight-loss treatments Ozempic and Wegovy.

Jensen Huang's Secret Masterplan Revealed - Ad

NVIDIA's revolutionary new invention just solved the #1 chokepoint that's been strangling big AI companies. And Tech legend Jeff Brown - the Silicon Valley insider who called NVIDIA before it skyrocketed more than 30,000%... says a shocking announcement by NVIDIA CEO Jensen Huang could make a lot of early investors rich.

Rivian Automotive CEO Gets An Elon Musk-Style Pay Raise

Rivian CEO's new pay plan could be worth up to $4.6 billion over the next ten years.

Denny's to be acquired and taken private in a deal valued at $620 million

Denny's said Monday that it's being acquired by a group on investors in a deal that will take the breakfast chain private.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Bitcoin's Crash Below $100,000 Isn't The End: Wall Street Vet Says: 'We Have To Get Through This'

For the first time since July, Bitcoin (CRYPTO: BTC) fell below $100,000 on Tuesday as the crypto sell-off saw $1.7 billion in liquidations in 24 hours.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Cathie Wood Makes $13.4 Million Bet On This Social Network After Earnings Crash — But Dumps Robinhood And Reddit

Ark Invest made significant trades, focusing on Pinterest, Robinhood, and Reddit amid earnings reports. They have confidence in Pinterest's potential despite recent setbacks.

What to know about COP30, this year's UN climate talks

People from around the world are beginning to gather at the gateway of the Amazon in Belem, Brazil, for the 30th annual United Nations climate summit, the Conference of the Parties, known less formally as COP30.

The AI Arms Race Could Send This Obscure Firm Soaring - Ad

The AI arms race could be a massive boom to ONE company that's doing something truly unprecedented. Its new device could become the cornerstone of the next wave of the AI revolution... And early investors could make a substantial sum of money as this story hits the mainstream.

Pete Hegseth Says War Department Preparing For 'Action' In Nigeria

U.S. Defense Secretary Hegseth agrees with Trump's order to prepare for action in Nigeria to stop the killing of Christians by Islamist militants.

Nvidia CEO: E.I. Will Be as Common as Cars Today - Ad

E.I. isn't science fiction anymore. It's already here. And one little-known company is quietly supplying the systems behind it. This stock is still under Wall Street's radar... but not for long. You'll get the name, the ticker, and the full thesis inside.

Nation's largest fleet of police Cybertrucks to patrol Las Vegas

LAS VEGAS (AP) — The nation's largest police fleet of Tesla Cybertrucks is set to begin patrolling the streets of Las Vegas in November thanks to a donation from a U.S. tech billionaire, raising concerns about the blurring of lines between public and private interests.

Bill Ackman's Amazon Trade Reverses Course – Now Up $119 Million And Counting In Third Quarter

Amazon.com was one of the biggest bets by Bill Ackman in the second quarter. After Q3 earnings, the position is now up since the end of Q2.

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." Starting November 19 it could cut the entire tech marketing by HALF.

BellRing Brands: No Ringing The Bell On This One, Not Yet

Our analysis uncovers the real reason behind BellRing Brands' steep fall and why the stock may struggle for much longer.

Japanese game maker Nintendo reports zooming sales and profit on its hit Switch 2 machine

TOKYO (AP) — Japanese video-game maker Nintendo’s net profit jumped 85% in April-September from the year before, as its sales more than doubled following the launch of its hit Switch 2 console in June, the company said Tuesday.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Elon Musk Tells Joe Rogan: 'Trump Actually Is Not Perfect, but He's Not Evil'

In a Friday appearance on The Joe Rogan Podcast, Elon Musk defended President Donald Trump, stating that while Trump is "not perfect," he is also "not evil."

Preliminary findings show a fatigue crack caused a Keystone Pipeline oil spill in North Dakota

BISMARCK, N.D. (AP) — A fatigue crack in the led to an that released thousands of barrels of oil onto farmland, according to the pipeline operator.

Forget Amazon's 1997 IPO... This Could Be 287 Times Bigger - Ad

Since Amazon's IPO in 1997, it climbed enough to turn $100 into $250,000. Now, one man says Elon Musk could be gearing up to take his internet satellite giant public... in what Fortune magazine says will be the biggest IPO in history! James Altucher is sharing how ANYONE can get a pre-IPO stake... with as little as $100!

Shutdown stalemate set to drag into sixth week as Trump pushes Republicans to change Senate rules

WASHINGTON (AP) — Republicans and Democrats remained at a stalemate on the over the weekend as it headed into its sixth week, with for millions of Americans and President Donald Trump pushing GOP leaders to change Senate rules to end it.

Another Gold High? Here's the Move Wall Street Is Missing ... - Ad

Gold just surged past $4,200, up 45% in a year - but Sean Brodrick says $6,900 could be next. History shows when gold booms, one hidden play has delivered far bigger gains - 21x, 49x, even 1,386x. The same strategy once handed 26,000% profits. And Sean says it's back on the table now.

Why TAL Education, Shake Shack And DexCom Just Appeared On Value Investors' Radars

A trio of stocks made an impressive leap in their Benzinga Edge value scores this week, with one standout making a 138% jump.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service