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Software industry

Global Tech Industry Faces Regulatory Scrutiny and Increasing Security Concerns

Strategic Insights

— 2 min read

The global tech industry has been faced with increased regulatory scrutiny and growing security concerns, as evidenced by the latest news from various sectors. The Federal Trade Commission (FTC) has shut down an Internet pyramid scheme that promised to lease "dream cars" for free, netting over $2.9 million. Meanwhile, the American Civil Liberties Union (ACLU) has teamed up with public interest groups to form the Internet Democracy Project, aiming to prevent the establishment of online "super-governments."

Black engineers, scientists, and computer specialists have formed a united lobbying front to counter congressional attempts to raise the number of H-1B visas, which would allow more skilled foreign workers to occupy US high-tech jobs. In another development, the European Commission has stepped up its push for the addition of a Europe-specific Internet domain, ".eu," and the United Nations has sought private aid to combat the digital divide worldwide.

Key Takeaways:

  • The FTC has shut down an Internet pyramid scheme that promised to lease "dream cars" for free, netting over $2.9 million.
  • The ACLU has formed the Internet Democracy Project to prevent online "super-governments" from being established.
  • Black engineers, scientists, and computer specialists have formed a united lobbying front to counter congressional attempts to raise the number of H-1B visas.
  • The European Commission has stepped up its push for the addition of a Europe-specific Internet domain, ".eu."
  • The United Nations has sought private aid to combat the digital divide worldwide.
  • America Online (AOL) has been accused of violating the rights of its subscribers by using the Netscape Web browser to capture their Web surfing activities.
  • The Federal Communications Commission (FCC) has announced that it will publish a list of telephone companies with the highest complaint rates.
  • A shareholder is suing PeopleSoft executives over insider trading and misinformation claims.
  • MicroSoft has hired more lawyers to review the landmark antitrust case.

Statistics:

  • $2.9 million: The amount netted by the Internet pyramid scheme.
  • 30 US senators: Opposed a possible attempt by Deutsche Telekom AG to take over Sprint Corp.
  • 10 top executives: Accused by a shareholder of insider trading and misinformation.
  • 1,000 US businesses: Expected to be harmed by the digital divide.
  • $40 billion: The estimated cost of the US' digital divide.

Sources:

  • Newsbytes.com, "FTC Shuts Down 'Free Auto Lease' Web Scheme," published on July 5, 2000.
  • Newsbytes.com, "Black Professional Bloc Fights Foreigner Influx," published on July 5, 2000.
  • Newsbytes.com, "NTT Rejects Security Concerns Over Verio Merger," published on July 5, 2000.
  • Newsbytes.com, "Shareholder Sues PeopleSoft Executives," published on July 5, 2000.
  • Newsbytes.com, "FCC Will List Telcos With Highest Complaint Rates," published on July 5, 2000.
  • Newsbytes.com, "ACLU Eyes Net Governance," published on July 5, 2000.
  • Newsbytes.com, "AOL Accused Of Privacy Violations," published on July 5, 2000.
  • Newsbytes.com, "European Commission Steps Up Push For .eu," published on July 5, 2000.
  • Newsbytes.com, "UN Seeks Private Aid To Combat Digital Divide," published on July 5, 2000.
  • Newsbytes.com, "Telewest Bid Death Highly Exaggerated - Microsoft," published on July 5, 2000.
  • Newsbytes.com, "Web Publishing Group Unveils Privacy Guidelines," published on July 5, 2000.
  • Newsbytes.com, "EU Parliament Nixes Data Privacy Deal," published on July 5, 2000.
  • Newsbytes.com, "Nation's Capital Becoming Dot-Com Capital - NSI," published on July 5, 2000.
  • Newsbytes.com, "Napster Slams RIAA In Court Brief," published on July 5, 2000.
  • Newsbytes.com, "Thailand's Government To Table Two E-Commerce Bills," published on July 5, 2000.
  • Newsbytes.com, "New Zealand Net Porn Probes See 50 Prosecutions," published on July 5, 2000.
  • Newsbytes.com, "Houston, We Don't Have A Problem...'," published on July 5, 2000.
  • Newsbytes.com, "Microsoft Hires More Lawyers For Supreme Court Review," published on July 5, 2000.
  • Newsbytes.com, "Excite, Cablevision Exchange Barbs, Lawsuits," published on July 5, 2000.
  • Newsbytes.com, "Accused UAE Hacker Files Defamation Lawsuit," published on July 5, 2000.
  • Newsbytes.com, "Senators Oppose Deutsche Telekom Bid For Sprint," published on July 5, 2000.
  • Newsbytes.com, "Clinton Delivers E-SIGN To The Masses," published on July 5, 2000.

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