馃捀 Google Founders Offload $1 Billion in Stocks

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Welcome to Roy Overload, the business, tech and finance newsletter. This is what's making news today. Google founders just offloaded one billion dollars in stock. Malaysia and strucks finance is shut down its operations, twitter is holding a competition for hackers and researchers and Amazon was fined eight hundred and eighty seven million dollars. Let's jump right into it. So first story. Google founders are offloading a billion dollars in stock. Larry Page and Sergey Brin the founders of Google and the majority shareholders. They've offloaded more than one billion dollars in stock since May of this year. The News has created quite a sturt in the market, as this duo has not sold their shares since two thousand and seventeen, despite having stepped down from their executive positions in two thousand and nineteen. According to the reports compiled by the SEC, page and brand have sold alphabet Class A and Class C shares valued at more than one billion dollars, while Sergey Brin has sold more than six hundred and ten million dollars worth of shares. Pages offloaded stocks valued at over four hundred and sixty two million. Page and...

...brand found a Google together in one thousand nine hundred and ninety eight. Since then they have remained board members of the company, holding a majority steak, controlling fifty one percent of a special class of alphabets voting shares. Since the time when this duo step down, the share price of Alphabet Google's parent company has almost tripled. Second story in Malaysia, by Finance is being instructed to shut down operations completely. So, accusing finance of continuing its operations in the country illegally, Malaysia has served a public recommend a reprimand against finance, one of the largest crypto exchanges in the world. According to the observations made by the Securities Commission of Malaysia, finance has been operating in the country ignoring the previous warning issued by the authorities. Media reports show that finance did not have required permission to operate in Malaysia even in July of two thousand and twenty. So, according to the instructions issued by the Country Security Commission, a Securities Commission, finance has fourteen days to disable its website and mobile APPs in the...

...country and discontinue any media campaign or marketing promoting its services. In Malaysia. Other than Malaysia, countries like Italy, Germany, Poland, Japan, Thailand, Singapore and the United States have also issued warnings about binance. Responding to such warnings issued against the globally, the exchange is declared to take the steps required by the various securities commissions and regulatory bodies to neutralize and rectify the situation. Chang pen zoo, the CEO of finance, is also promised to work with regulators amid plans for even further worldwide expansion. Twitter are third story the day goes to twitter and social media. They're holding a competition for hackers and researchers. So twitter is going to hold a hackathon to identify biases in its image crop algorithm. So where does it choose to crop the image? The winning team will get cash prizes. After twitter gives a competing teams access to its image cropping algorithm codes, they will have to identify ways in which the...

...algorithm could prove harmful and only show potentially a portion of an image. Next, they would have to submit their findings as it as a description and an a company an accompanying the data set that can demonstrate the issues by running through the algorithm to prove out that their fix actually improves the experience. Looking at these findings, twitter will assign points. How many points a team could score would depend upon the kinds of harms they have found and the potential impact that it could have on users opting to crop images. Twitter has announced three thousand five hundred dollars as a cash reward for the winning team and separate thousand dollar prizes for findings that are innovative and most generalizable, with twitter's Normal Bug bounty program fetching a reward of roughly two thousand nine hundred forty dollars on average. The amounts for this special competition have appeared to be less than the standards that are usually expected from twitter. And last story of the day. Amazon was fined eight hundred and eighty seven million dollars. So the National Commission for data protection in Luxembourg has find Amazon seven hundred forty six million euros, or that's...

...roughly eight hundred and eighty seven million dollars USD. It came under the category of a GDPR fine over the way Amazon on uses customer data for its targeted advertising efforts. The penalty came as a result of a French privacy right groups complaints against Amazon. The group was called La Quadratur Dennette. The group claims to be representative of the interests of thousands of Europeans who do not want their personal data to be used by big tech companies to manipulate their behavior for political or commercial purposes. Amazon has termed the decision baseless by disclosing the ruling in its latest SEC filing. It is also declared to defend itself vigorously in this matter. Quote Unquote, other stories that I found around the web stopping the derivatives. So, in a major move, the globally renowned crypto change binance, making a second appearances today, rather, has declared to suspend its drivatives trading across European regions, which will start from countries like Germany, Italy and...

...the Netherlands. Elon Musk is siding with that big games. So in the legal battle between epic games and Apple, Elon Musk decided to have an opinion and was tweeted. He tweeted out saying APP store fees are a de facto global tax on the Internet. And lastly, what's your Wi fi strength? So Air BMB is going to start putting on rental listings a section that will show the properties Wi fi, speed and quality before it's even booked. That's it for today. If you found any value in this, share it with your friends, family, Piers Co workers. I'd be a very grateful. They can go subscribe at Newsletter Roy Overload Doc.

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