Good morning, CIOs. We hope that everyone had a great Labor Day weekend and is rested and ready for a bruising battle over the future of business and technology. Here’s a look at how historic policy debates are taking shape:
Lawmakers set to start tech industry hearings. Already accused of neglecting to patrol spurious political content during the 2016 election, the tech industry faces continuing allegations of taking too little responsibility for content published on their platforms in general, the Journal's John McKinnon and Dustin Volz report. On Wednesday, Facebook Inc. COO Sheryl Sandberg, Twitter Inc. CEO Jack Dorsey and a representative of Alphabet Inc.'s Google are scheduled to appear before the Senate Intelligence Committee to discuss efforts to stamp out foreign election interference. Another hearing, scheduled for early October by a Senate Judiciary subcommittee, will focus on antitrust concerns.
Toxicity bubbles up in Facebook's private pages. "When it comes to public-facing pages, Ms. Sandberg will have plenty of company actions to cite," says the New York Times. But some experts fear the effort has pushed toxic content to the social network's private channels.
Inside Twitter’s long, slow struggle to police bad actors. When Twitter Chief Executive Jack Dorsey testifies before Congress this week, he’ll likely be asked about an issue that has been hovering over the company: Just who decides whether a user gets kicked off the site? To some Twitter users—and even some employees—it is a mystery, says the WSJ's Georgia Wells and Kirsten Grind.
LATEST FROM CIO JOURNAL
Silicon Valley myths aside, time is on the side of aging entrepreneurs. Founders in their early 20s have the lowest likelihood of achieve a successful exit, and a founder at age 50 is almost twice as likely to achieve a successful exit than one at age 30, CIO Journal Columnist Irving Wladawsky-Berger writes, citing recent economic research.
More cities brace for ‘inevitable’ cyberattack. A majority of the 25 most-populous U.S. cities now have cyber insurance or are looking into buying it, according to a Wall Street Journal survey. A ransomware attack on Atlanta earlier this year—one of the biggest reported breaches of a city’s network—served as a warning to officials everywhere of the constant barrage from hackers.
Self-driving tech threatens nearly 300,000 trucking jobs. New reasearch finds that autonomous driving technology could replace some 294,000 long-distance truck drivers over the next 25 years, the WSJ's Jennifer Smith reports. The jobs facing the greatest risk are those where drivers move cargo over hundreds of miles but perform few specialized non-driving tasks, such as unloading freight, coupling trailers or inspection and maintenance.
When machines (and humans) decide to sell at once. As algorithmic traders grow in influence, automatic sell orders may be behind some dramatic market swings. But those events can be difficult to pinpoint as the use of stop losses by algorithmic traders has evolved to be more fluid, says the WSJ's Stephanie Yang. One thing is clear: Funds that chase trends and use automated strategies have grown and can more easily program sell stops in the futures market, thanks to increasing automation.
Chinese e-commerce billionaire arrested in U.S. JD.com Inc. Chief Executive Liu Qiangdong denies any wrongdoing in connection with his arrest on suspicion of sexual misconduct in Minneapolis, and it’s likely no charges will be filed, his attorneys said Monday. The Journal reports that Mr. Liu, 45, was taken into custody by Minneapolis police on Friday and released the next day.
China lures chip talent from Taiwan. This year alone more than 300 senior engineers have left Taiwanese firms for China's nascent chip industry, Reuters reports. In 2017, China imported $260 billion worth of semiconductors, more than its imports of crude oil, Reuters says.
Microwave weapons are prime suspect in U.S. embassy illnesses.Since late 2016, more than three dozen American diplomats and family members in Cuba and China have been afflicted with a mysterious sickness marked by nausea, headaches and hearing loss. The New York Times reports that some doctors and scientists now believe the U.S. diplomats may have been the target of microwave weapon attacks.
Apple discloses self-driving crash. According to a California Department of Motor Vehicles filing, Apple Inc.’s car was traveling at less than 1 mile-per-hour as it prepared to merge onto a Bay Area freeway when it was rear-ended. No injuries were reported, but it was the first such incident involving Apple's self-driving effort, Bloomberg reports.
EVERYTHING ELSE YOU NEED TO KNOW
With Brett Kavanaugh’s confirmation hearings set to start, both sides are focusing on how readily a Supreme Court with him as a member would overturn precedents. (WSJ)
U.S. stocks are at record highs after an August rally, prompting some investors to brace for a reckoning heading into what historically has been a weak stretch. (WSJ)
Nike Inc. will feature Colin Kaepernick, the National Football League quarterback who led player protests during the national anthem, in a new advertising campaign. (WSJ)
Japan’s most powerful typhoon in 25 years drove a ship into a bridge connecting Kansai International Airport to the mainland, causing severe damage, and flooded a runway and the basement of one terminal. (WSJ)