Daily Archives: December 6, 2020

LONDON The EU's competition chief has suggested that tech giants will have to change how they promote themselves as the bloc prepares to revise its competition rulebook.

The European Union is due to announce an overhaul of digital regulation later this month, which could hurt the business models of Big Tech. The new rules will seek to have stronger oversight over illegal and harmful content, but also ensure that smaller firms can compete against major multinationals operating in Europe.

"With power, with strength comes responsibility and part of that is, for instance, that you don't promote yourself when your services (are) in competition with other services," Margrethe Vestager, the head of competition policy in the EU, told CNBC on Friday.

Often tech giants show their products at the top of online search engines, which increases the chances that customers will opt for their services. This is known as self-preferencing and was the reason why Spotify brought up a complaint against Apple in 2019.

The Swedish digital music service complained that Apple had abused its AppStore dominance to favor its own music service and thus distorting the level playing field. This is one of the issues that the European Commission, the executive arm of the EU, wants to address by upgrading its rulebook.

Speaking to CNBC, Vestager explained that "the point is not so much the size" of companies but to ensure fair competition in the EU's market.

"That is the point, that if you have grown into this size that you actually do exercise control on yourself and that you enable other people to do their business in a way that is fair and square," she said.

European policymakers have often asked for a revision of competition rules, arguing they were not designed for a digital economy.

In addition, Vestager has led many investigations against Big Tech since 2015, but there is some frustration among policymakers that they have not yielded practical changes.

For instance, in 2017, the European Commission fined Google 2.4 billion euros ($2.81 billion) for promoting its own shopping comparison service rather than allowing similar access to rival companies. Google made some changes in the wake of that case, but a study by Lademann & Associates showed in September that not much has changed. According to the study, less than 1% of traffic through Google Shopping was transferring users to rival shopping websites.

Vestager also told CNBC that sanctions against companies disrespecting market rules need to have a more "restorative" role going forward.

"The fine only has the role to punish past illegal behavior, the second part is of course that you stop what you're doing because it is illegal, and the third element is where we are pushing things because we see how business, they suffer from illegal behavior in the marketplace," she said.

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EU's Vestager hints Big Tech will have to end 'self-preferencing' under new competition rules - CNBC

InvestorPlace

Back in July, I recommended seven of the best stocks to buy for 2021 and beyond. As a group, theyve done very well over the past three months. For instance,Livongo Healthwas acquired by Teladoc Health (NYSE:TDOC) on Oct. 30 for $11.33 per share in cash and 0.592 times shares in Teladoc.But looking for a bit of a twist on my stock selection process, Ive decided that this list will be based on the first letter of all 12 months. That means my stock pick for January will have a corporate name beginning with J, then an F for February and so forth.All 12 will also have a market capitalization of $2 billion or more and positive free cash flow for the trailing 12 months. By this time next year, Im confident that my picks, on the whole, wont disappoint.InvestorPlace - Stock Market News, Stock Advice & Trading Tips7 Cheap Stocks Ready for Big Gains in 2021So, without further ado, here are my 12 best stocks for a brand new year:Johnson & Johnson (NYSE:JNJ)Fidelity National Information Services (NYSE:FIS)McDonalds (NYSE:MCD)Adobe (NASDAQ:ADBE)MercadoLibre (NASDAQ:MELI)Johnson Controls (NYSE:JCI)Jeld-Wen Holding (NYSE:JELD)Apple (NASDAQ:AAPL)SVB Financial (NASDAQ:SIVB)Otis Worldwide (NYSE:OTIS)NextEra Energy (NYSE:NEE)Dollar General (NYSE:DG)Stocks to Buy: Johnson & Johnson (JNJ)Source: Alexander Tolstykh / Shutterstock.comJohnson & Johnson represents the month of January on my list of best stocks to buy for 2021. Right now, its having a sideways kind of year in the markets. Its year-to-date (YTD) total return through Dec. 4 is just 2.6%.Based on a trailing 12-month free cash flow (FCF) of $18.3 billion and a current enterprise value (EV) of over $399 billion, JNJs FCF yield is a reasonable 4.7%. It might not be value territory I consider anything above 8% to be cheap but its pretty darn good.As InvestorPlace colleague Faisal Humayun recently stated, JNJ stock has an excellent product offering.From a business perspective, the company provides diversified exposure to the segments of consumer health, pharmaceuticals and medical devices. The companys pharmaceutical segment growth for Q3 2020 was impressive with most therapeutic areas delivering strong numbers.Not to mention, JNJ is still very much in the Covid-19 vaccine race. That suggests that 2021 could be a breakout year for this Dividend Aristocrat.Fidelity National Information Services (FIS)Source: Maryna Pleshkun/Shutterstock.comNext on my list of best stocks to buy is Fidelity National Information Services, representing the month of February. This payment processor is having an underwhelming year relative to the U.S. markets as a whole. Currently, FIS stock has a YTD total return of just over 7%, about half the markets rate of return in 2020.Based on a trailing 12-month free cash flow of $2.57 billion and an enterprise value of $109.75 billion, though, Fidelity Nationals FCF yield is very decent at 3.8%.You wont find a lot of commentary from InvestorPlace contributors on this stock, despite the fact it does have a part to play in the technology side of the financial services industry.However, on Nov. 19, the Florida-based company announced that it earned the top spot for the sixth consecutive year in a ranking of 100 leading providers of risk and compliance technology.Additionally, while Covid-19 has slowed the rate at which FIS can process transactions, it still has managed to generate organic revenue growth during its third quarter of 1% to about $3.2 billion. The company also increased adjusted net income by 18% to $887 million.7 Growth Stocks Flying Under the RadarSo, this is not a glamorous stock but its services are certainly in demand.McDonalds (MCD)Source: CHALERMPHON SRISANG / Shutterstock.comTo represent March for the coming year, Ive picked the golden arches of MCD stock. Like many of the names on this list, McDonalds has an okay year going, up 7.11% YTD today. Thats better than many of its restaurant peers, but its trailing the U.S. markets as a whole.Thanks to Covid-19 shutdowns, McDonalds trailing 12-month free cash flow isnt nearly as strong as it usually is, now at $4.25 billion. Currently, the industry leader has an FCF yield of 2.7% based on an enterprise value of about $205 billion.Despite operating in one of the hardest-hit industries, McDonalds has continued to look beyond the novel coronavirus, continually finding ways to transform its business without upsetting the core customer.For instance, the company recently gave Beyond Meat (NASDAQ:BYND) the cold shoulder by announcing it would be testing a line of meatless alternatives in 2021, including the McPlant burger. Interestingly despite developing the plant-based burger with Beyond Meats input the fast-food company decided to go its own way.The decision to go on its own was a result of two reasons. First, MCD didnt want to alienate its meat-loving customers. Secondly, its not a fan of letting licensees and other brands into its house. Beyond Meat would have surely taken some shine off of the Golden Arches.McDonalds has had a tough time, but it always bounces back. That makes it one of the best stocks to buy for the upcoming year.Adobe (ADBE)Source: r.classen / Shutterstock.comAdobe, the mastermind behind the PDF and so much more, is my pick for the month of April. Its having an excellent year in the markets right now, with a YTD total return of over 47%. Thats considerably better than both its software peers and the U.S. markets as a whole, making it one of the best stocks to buy right now.Adobes trailing 12-month free cash flow is $4.9 billion, while its enterprise value is nearly $232 billion for an FCF yield of 2.1%. Both its enterprise value and EV-EBITDA multiple have also risen dramatically in the past five years. In 2016, the company had an enterprise value of $48 billion and an EV-EBITDA of 26.1. Presently, the stock has an EV-EBITDA multiple of 48.3.7 Stocks to Sell for DecemberIn early February, I said ADBE stock was all but certain to hit $400 in 2020. It did and then some. Moving forward, I think its all but certain to hit $500 perhaps $600 in 2021.MercadoLibre (MELI)Source: rafapress / Shutterstock.comMercadoLibre is sometimes referred to as the Amazon (NASDAQ:AMZN) of Latin America, although it more closely resembles Alibaba (NYSE:BABA). For my list of best stocks to buy in 2021, it represents the month of May.Currently, MELI stock is having a fantastic year in the markets with a YTD total return of over 170%. Like Adobe, MercadoLibre is faring far better than both its internet retail peers and U.S. markets as a whole.This companys trailing 12-month free cash flow is $810 million, while its enterprise value is almost $76 billion for an FCF yield of 1.1%. While that might seem low, MercadoLibres free cash flow has never been higher. Likewise, its revenues are on fire and growing like weeds. True to the Amazon comparison, this name will also probably see exponential growth in its free cash flow over the next few years.Ive been a fan of the company since as far back as 2013, when it was trading around $120. At the time, I argued that it had a dominant position in Latin American e-commerce and its stock would benefit from that.As I write this, shares are priced around $1,555 and moving higher in 2021.Johnson Controls (JCI)Source: ShutterstockThere arent a lot of great companies with a J as the first letter in their name. There are even fewer with strong free cash flow. Nonetheless, Johnson Controls represents the month of June on my list of best stocks to buy.Interestingly, while its only generally matching the YTD performance of the U.S. markets as a whole, JCI stock is doing better in 2020 than it has in some time. Over the past five years, its delivered an annualized total return for shareholders of about 9.1%, well below the markets.However, up almost 14% over the past three months, the company appears to be gathering speed heading into 2021.In early November, Johnson Controls also announced its fourth-quarter results, which were excellent despite the challenging business environment. In fiscal 2020, it had sales of $22.3 billion and net income of $1.69 billion, flat to a year earlier.Thats not bad for a company that manufactures, installs and services products designed for offices, industrial properties and other types of commercial real estate all of which were hurt by the pandemic.Johnson Controls trailing 12-month free cash flow is nearly $1.8 billion, while its enterprise value is about $39 billion for an FCF yield of 5.3%.The 7 Best Cheap Stocks to Buy for DecemberI view JCI as a nice stock for risk-averse investors who also like a little dividend income its dividend yield is 2.27% at the moment.Jeld-Wen Holding (JELD)Source: IgorGolovniov / Shutterstock.comBy far the smallest of the 12 names on this list, JELD stock has a market cap of $2.42 billion. This maker of windows and doors represents the month of July on my best stocks to buy list.Back in late January of 2017, Jeld-Wen went public at $23 a share.Now, though if you bought shares in its IPO and are still holding youve made almost no money on your investment. Year-to-date, its got a total return of just 2.7%, well below the booming returns of its building products and equipment industry peer group. Those stocks have mostly benefited from Covid-19.The companys trailing 12-month free cash flow is $250 million, while its enterprise value is $3.8 billion for an FCF yield of 11.3%.However, on Nov. 3, the company reported third-quarter results that were better than analyst expectations. On the top-line, revenue was $1.11 billion, $2 million higher than the consensus estimate. On the bottom line, it had adjusted earnings per share of 52 cents, eight cents higher than analyst expectations. President and CEO Gary Michel said the following:Consumers focus on their homes, coupled with our strategy to deliver profitable market share with key customers, is driving increased demand for products in both residential new construction and repair and remodel channels.As the focus remains on homes in 2021, I expect Jeld-Wen to snap out of its funk and do well.Apple (AAPL)Source: WeDesing / Shutterstock.comFor August, the famous maker of the iPhone is the next pick of this list. However, if there were a month beginning with the letter B, Id recommend Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) because its a much better value play and happens to own almost 965 million shares of AAPL stock.Apples YTD total return is over 66%, which sounds rather ordinary, given its almost 30% annualized total return over the past 15 years. Id take it every day of the week.As for free cash flow and enterprise value, they are almost $73.4 billion and $2.1 trillion, respectively. Thats an FCF yield of 3.5%, an excellent valuation for one of the worlds largest public companies.Put simply, Apple has become so much more than a maker of smartphones.According to AppleInsider.com, Apples new M1-equipped Mac mini has jumped to the number one position in sales in the Japanese market for desktop computers after only two weeks of availability. Further, Apple now has a 27% market share in Japan, up from roughly 13% a year earlier.10 Best Stocks to Buy for Investors Under 30So, I dont think you can go wrong owning Apple over the long haul. Clearly, its one of the best stocks to buy for the coming year.SVB Financial (SIVB)Source: ShutterstockNext, representing the month of September is my favorite U.S. bank. SVB Financial is the holding company that operates Silicon Valley Bank, the Santa Clara-based financial institution that focuses on entrepreneurs and innovators.Right now, its having an awesome year compared to peers in regional banking. While SIVB stock is up nearly 43% YTD, most of its peers are down. Its also leaving the U.S. markets in the dust. That said, I wont bother noting the free cash flow for this name because its not meaningful for banking institutions. Instead, the balance sheet matters most.SIVB reported Q3 2020 results that included earnings per share of $8.47, almost double the $4.42 per share it earned the year prior. The president and CEO of SVB Financial, Greg Becker, noted:We had an exceptional quarter driven by outstanding balance sheet growth, higher core fee income, strong investment banking revenue, solid credit resulting in a reduction of reserves, and outsized equity gains related to client IPO activity [] These results reflect the resilience of our markets and our ability to execute effectively.SIVB was on my 2013 list of the five best stocks to buy for the next 20 years, right up there with Amazon. I think you owe it to yourself to check it out in 2021.Otis Worldwide (OTIS)Source: rafapress/shutterstock.comBack in early April, this elevator company spun off from United Technologies, which merged with Raytheon (NYSE:RTX) to become one of the worlds largest aerospace and defense companies.While it wont have a full 12-month track record until April, this representative for the month of October has risen 43.5% YTD, suggesting 2021 could deliver an excellent performance.In the trailing 12 months, Otis has a free cash flow of $1.47 billion andan enterprise value of about $33 billion. That makes for an FCF yield of 5.2%, so its reasonably priced.Whats more, the companys third-quarter results demonstrate that its holding its own during the pandemic. Top-line organic sales fell 1.2% in Q3 2020 to $3.3 billion while its operating profit grew 7% on an adjusted non-GAAP basis. Also, operating margins increased 120 basis points to 15.4%.In November, Toronto-based portfolio manager Christine Poole made OTIS stock one of her three top picks on BNN Bloombergs Market Call, suggesting that its 17% global elevator market share makes it an excellent long-term investment with an excellent balance between sales and service, at 57% and 43% respectively.7 Value Stocks That May Come Back into Style After the PandemicThat makes it worthy of this best stocks to buy list for 2021. Can you say recurring revenue?NextEra Energy (NEE)Source: madamF / Shutterstock.comRecently, I recommended this Florida-based utility company because of its renewable energy business, NextEra Energy Resources, which generates almost 40% of overall earnings. I maintain that NEE stock is one of the best stocks to buy for 2021, representing the month of November on this list.NEE stock is a thing of beauty if consistent returns are your thing. YTD, its up about 20%. Over the past three-, five- and 10-year periods, it has annualized total returns of 25.1%, 26.8% and 20.5%, respectively. Lets say its crushing its peers over any of those periods.NextEras free cash flow in the trailing 12-months is $2.1 billion, while its enterprise value is $190 billion, for an FCF yield of -3.2%. So, its certainly not cheap.But InvestorPlaces Mark Hake made an interesting observation on Nov. 25 when he suggested that NextEra would buy another utility with its strong share price. As Hake would agree, thats Capital Allocation 101.NextEra made overtures to Duke Energy (NYSE:DUK) and Evergy (NYSE:EVRG). Both rejected the offers. However, Im sure something will shake out soon enough. Like Hake said, a bid might come with more cash.What I do know for certain is that NextEra is one of North Americas best-run utilities.Dollar General (DG)Source: Jonathan Weiss / Shutterstock.comRepresenting the final month of the year is Dollar General, the dollar-store discount chain with 17,000 locations in 46 states. Its having another strong year, up almost 37% YTD. Combine that with a 10-year annualized total return of 20.8%, and youve got one heck of a long-term investment.As for trailing 12-month free cash flow, it has $3.1 billion, along with an enterprise value of nearly $64 billion. Right now, its FCF yield is 5.9%.On Nov. 14, the company announced the opening of its 17,000th store in Fountain, Colorado. As a nice gesture to the community, Dollar General donated $17,000 to one of the local schools. In the companys press release heralding the occasion, CEO Todd Vasos said:Since our founding more than 80 years ago, we have remained focused on helping customers save time and money.In my book, helping customers save time and money are the hallmarks of any successful business.Back in November, I also recommended Dollar General as one of three stocks of relative values compared to Nio (NYSE:NIO), the Chinese electric vehicle maker. And while I like Nio long-term, it isnt a name to buy for the short-term at current prices. DG stock is much more down-to-earth.8 Tech Stocks That Could Benefit from a Biden PresidencyAs long as working folk need to save money, Dollar Generals business remains a solid bet. In turn, that makes it one of the best stocks to buy going into the uncertainty of 2021.On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article.Will Ashworth has written about investments full-time since 2008. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.More From InvestorPlaceWhy Everyone Is Investing in 5G All WRONGTop Stock Picker Reveals His Next 1,000% WinnerRadical New Battery Could Dismantle Oil MarketsThe post The 12 Best Stocks to Buy for a Whole New Year of Returns in 2021 appeared first on InvestorPlace.

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Breaking up big tech not the right solution: Box CEO - Yahoo Tech

President Trump tweeted late Tuesday that he is considering vetoing the must-pass defense authorization bill unless Congress approves changes to the legal shield that protects tech companies from liability from third-party content. Erin Schaff/Pool/Getty Images hide caption

President Trump tweeted late Tuesday that he is considering vetoing the must-pass defense authorization bill unless Congress approves changes to the legal shield that protects tech companies from liability from third-party content.

Updated at 10:58 a.m. ET

President Trump is threatening to veto a critical defense spending bill unless Congress agrees to repeal a liability shield for social media companies.

The president tweeted late Tuesday that Section 230 of the 1996 Communications Decency Act is "a serious threat to our National Security & Election Integrity."

Section 230 provides legal protection for technology companies over content from third parties and users. Trump referred to the provision as a "liability shielding gift" to "Big Tech."

If he doesn't get his way, Trump is threatening to nix this year's National Defense Authorization Act a crucial piece of annual legislation that covers authorization for pay raises and other spending needs for the nation's military.

The veto threat is the latest move by the president in his war against social media giants such as Facebook and Twitter. He and other conservatives believe tech companies are biased against conservative political views censoring posts they don't like. However, the social media platforms say they are only trying to stop the spread of false claims and disinformation.

Trump previously threatened a veto of the NDAA in July because it included language renaming U.S. military installations honoring Confederate generals.

Lawmakers from both sides of the aisle, who have largely rejected a wholesale repeal of Section 230, have nonetheless proposed revisions, in part to modernize the policy, but no concrete legislative steps have been taken.

Lawmakers on the NDAA conference committee are set to meet Wednesday over the legislation.

This is the 60th year Congress has crafted an annual defense policy bill and it usually passes with overwhelming bipartisan, veto-proof majorities.

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Section 230: Trump Vows To Veto Defense Bill - NPR

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Google, Facebook and Microsoft have agreed to sign onto a French initiative that outlines principles for global tech companies to follow including agreeing to pay their fair share in local taxes while Amazon and Apple have not done so, highlighting Frances intent to move forward with establishing a taxation framework for these companies despite strong pushback from Washington.

French President Emmanuel Macron has pushed the so-called Tech for Good Call that has been signed ... [+] by multiple U.S. Tech giants.

The so-called Tech for Good Call has been pushed by French President Emmanuel Macron amid public anger about U.S. tech businesses flourishing despite the pandemic-driven downturn, Reuters reported.

According to the report, executives from 75 tech companies including Google CEO Sundar Pichai, Facebooks Mark Zuckerberg, and Microsoft President Brad Smith have agreed to sign the initiative.

Apart from agreeing to fair taxation, signatories of the initiative have also committed to preventing the dissemination of content featuring child sexual abuse, terrorism or extreme violence.

The report added that Apple is currently engaged in talks with French officials and it could still join the initiative, however, Amazon has declined to sign up; Forbes has reached out to the e-commerce giant for a comment.

Though not legally binding, the agreement on fairly paying local taxes represents a push back against the outgoing Trump administration, which has clashed with France and other European nations on the issue.

Some have questioned the effectiveness of such a non-binding agreement and have argued that the 2018 summit in Paris that led to this agreement was nothing more than a photo-op. Writing for TechCrunch Romain Dillet noted: The Tech for Good summit was created for photo opportunities. Tech CEOs want to be treated like heads of state, while Macron wants to position himself as a tech-savvy president. Its a win-win for them, and a waste of time for everyone else In 2018, hundreds of organizations signed the Paris Call. In 2019, the biggest social media companies signed the Christchurch Call. And now, we have the Tech for Good Call. Those calls cant replace proper regulation.

In June, France and other European countries vowed to press forward with plans to implement a unilateral digital tax after the U.S. pulled out of negotiations led by the Organisation for Economic Co-operation and Development (OECD) on an internationally agreed-upon tax. The U.S. refused to even agree upon an interim change to global taxation laws that would mostly impact U.S. tech companies, and the Trump administration threatened retaliatory action if the European countries pressed on unilaterally. The European Union and its member nations have long been arguing that companies like Apple, Amazon, Google and Facebook pay minimal taxes, despite generating large profits from the regions market.

In June, the French Finance Minister Bruno Le Maire told France Inter Radio that the U.S.s exit from the negotiations was a provocation as they were a few inches from an agreement on the digital giants. Le Maire then vowed that France will indeed have a taxation law in place of the digital giants in 2020.

While it is unclear what President-elect Joe Bidens stance on the international taxation talks will be, some believe that Bidens willingness to engage with multilateral institutions might help move things forward. Before the elections, Anna Diamantopoulou, one of the candidates to become the next OECD chief in 2021 told CNBC: We know that Biden is more conventional and more friendly to the international organizations generally. An Ernst & Young report from earlier this month noted that the OECDs taxation plan closely aligns with changes that Biden has proposed to the U.S.s existing global minimum tax rules. Thus, one might expect a Biden Administration to continue to be supportive of that part of the project, the report noted.

Amazon, Apple stay away from new French initiative to set principles for Big Tech (Reuters)

Dozens of tech companies sign Tech for Good Call following French initiative (TechCrunch)

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Amazon, Apple Refuse To Sign French Big Tech Initiative That Outlines Taxation Principles - Forbes

This is the final column in a four-part Heard on the Street series on how smart vehicles will affect the automotive, tech and insurance industries.

Big tech was going to revolutionize the car market. Then reality happened.

Just a few years ago, Silicon Valley seemed to have Detroit in its sights. Google had self-driving test cars roaming around, while Apple was building its own automated car from scratch. Chip giant Intel made its second largest acquisition ever with Mobileye for $15.3 billion in early 2017, while rival Nvidia was building powerful chips designed to become the central brains of autonomous vehicles. And Amazon.com wasnt even keeping its dreams on the ground. The e-commerce giant was testing air delivery drones in the U.K. by late 2016.

Most of those efforts havent died, but the hype has faded considerably. Apple seemed to make the biggest reversal, reportedly laying off more than 200 workers last year from its autonomous-car effort called Project Titan. Google is still at it, with its Waymo car venture now offering a highly limited taxi service in Phoenix. But Waymo remains buried in parent company Alphabet Inc.s other bets segment, where it doesnt appear to be generating much actual business. The companys most recent quarterly filing said Other Bets revenue is still derived primarily from its broadband service once known as Google Fiber and licensing from its Verily Life Sciences venture.

Intel, meanwhile, hasnt exactly revved up with Mobileye. Revenue for the unit, which makes computer-vision and driver-assistance technology, rose only 6% for the trailing 12-month period ended in September, lagging Intels overall revenue growth of 11% in that time. It also still makes up barely 1% of Intels overall business.

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Big Techs Auto Dreams Are Stuck in the Slow Lane - The Wall Street Journal

The collective has been burned before twice and badly. First, it was with Grubhub, which had been partnering with couriers across the country. McCleary said the food-app company in 2017 canceled all its courier contracts overnight, and took over those services. Postmates, another food-ordering app, similarly made off with local bike couriers clients, McCleary said.

The second they get successful enough to vertically integrate and do it all their own, theyre going to kick you out the door, he said.

McCleary said he's disappointed California voted for Proposition 22. Allowing these companies to keep denying their workers benefits, he said, gives the big app services an unfair advantage against businesses like his that are trying to offer employee status to workers, let alone a shared-ownership co-op model.

Although still small, the collective has grown markedly during the pandemic, as more people rely on delivery service for many of their needs. In addition to food delivery, customers can also hire the service for general courier tasks.

The collective also recently started working with the New Harmony Cafe in San Franciscos Mission District, which is participating in the SF New Deal program to provide food to quarantining seniors.

Ben Angel, the cafe's owner, said it felt right to work with a collective rather than a delivery app that uses gig workers.

Its a groundswell from the community instead, as opposed to, you know, a venture-funded, hyper-growth, Lets extract as much from the people and the companies that are our clients and customers, Angel said. I used to work in tech and there are some great tech companies out there, but there are a lot of places that put profit over everything else.

Gerry Valencia, one of CCC's couriers, started working for the collective right at the beginning of the pandemic, and he said he likes that he is delivering exclusively for local businesses.

Id rather know who Im working for and who Im delivering for, rather than today I am going to this random fast food spot that Im never going to see again and deliver to these people for a faceless app, he said.

Valencias parents are both immigrants. His father works as a gardener, his mom as a maid.

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Tired of Big Tech, Co-ops Appeal to Delivery Workers Burned by Gigs - KQED

President Donald Trump has threatened to veto a massive U.S. military spending bill unless it includes a repeal of legal protections for Big Tech social media giants.

Trump wants to get rid of Section 230 which protects Facebook, Twitter and Google from being sued for content posted on their powerful platforms.

The argument is that the social media giants are already acting like publishers by restricting, moderating and sometimes censoring content they do not like.

Most of the restricted content tends to come from conservative and controversial voices. Twitter and Facebook, for example, restricted sharing of the New York Posts coverage of Hunter Bidens foreign business deals while his father, Joe Biden, was vice president.

The Section 230 debate goes beyond the broad legal protections afforded social media and internet giants.

Facebook (which also owns Instagram), Twitter and Google (which also owns YouTube) already hold an incredible amount of power in the marketplace and more importantly the marketplace of free speech and ideas.

Section 230 adds to that power and influence social media companies and their billionaire CEOS have over free speech as well as commerce.

They have increasingly used that influence to promote certain politically progressive viewpoints and silence others, mostly conservatives.

Twitter and Facebook could be poised to ban Trump after projected President-elect Joe Biden is sworn in next month.

If they can do it to Trump, they will do it to small businesses and others who do not toe the line or retweet the wrong Breitbart story or politically incorrect Candace Owens post.

We know 2020 is rough but lets not turn it into 1984. We continue to see many parallels to George Orwells warnings..

We always believe more speech even the uncomfortable and dissenting speech is better than less. The media landscape continues to change and a healthy diversity of voices including ones we may vehemently disagree with are important for our democracy and freedom of expression.

Eliminating the sweeping legal protections will bring social media companies along with Apple more to the table. We also like to see more teeth put into legitimate antitrust cases involving the most powerful companies in the country and world. That extends to e-commerce and other technology giants.

Right now, they have all the cards it seems.

Right now, social media firms also have it both ways. They have been increasingly politically motivated in how they moderate and sometimes censor content, but they cling to legal protections that they operate simply as technology platforms.

Their relations with China are also troublesome. We are also concerned about how cozy a Biden-Harris administration will be with Silicon Valley. They certainly did not hurt his presidential campaign and a number of his top appointments so far have had some links to the technology titans.

President Trump is right, they should not have it both ways. We need to see new systems with more balance and a better focus on protecting free speech. Big Tech has gotten way too big.

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Trump is right on big tech, social media and Section 230 - The Star Democrat