|Bid||50.60 x 3100|
|Ask||50.78 x 1300|
|Day's Range||48.94 - 50.50|
|52 Week Range||20.00 - 50.53|
|Beta (5Y Monthly)||0.81|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct. 29, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||38.49|
Sinan Aral, The Hype Machine author and MIT’s David Austin Professor of Management, Marketing, IT and Data Science joins Yahoo Finance's On the Move to discuss the election interference and why the Burisma-Biden email scandal and Russia-Iran election interference stories shouldn't surprise anyone.
(Bloomberg) -- The chief executive officers of Facebook Inc. and Twitter Inc. have agreed to testify on Nov. 17 before a Senate panel looking into restrictions their companies put an on article about the son of Democratic presidential nominee Joe Biden.The Judiciary Committee on Thursday authorized subpoenas for both Mark Zuckerberg of Facebook and Twitter’s chief, Jack Dorsey. The committee announced on Friday evening that they would appear voluntarily.Senate Republicans and the Trump administration have been heightening pressure on the companies and other technology giants over allegations that they are biased against conservatives. At the same time, there is a growing willingness by members of both parties to confront the powerful technology companies and bring them to heel.Dorsey and Zuckerberg, who have been called to Washington to explain their content policies, are also due to appear before the Senate Commerce Committee next Wednesday, along with Alphabet Inc. CEO Sundar Pichai. The questions will focus on their liability protections for user content under Section 230 of the Communications Decency Act.President Donald Trump and other conservatives claim the law enables the companies to silence their views and content.“I would say that big tech is not distinguishing itself,” Trump said at a campaign rally in Pensacola, Florida, on Friday night. “They don’t want to put something on, they don’t put it on. But you know what? Can I tell you what? People are wise to it.”Facebook confirmed that Zuckerberg would appear, but declined further comment. Twitter said that Dorsey would testify virtually and also declined to elaborate.Senate Republicans demanded to question the CEOs after their companies moved to limit the spread of a New York Post article on Biden’s son Hunter and what the Post said were his exchanges with a Ukrainian executive. The article said emails purportedly from Hunter Biden, and provided by allies of the president, show he introduced an executive at a Ukrainian energy company to his father when he was vice president.The paper claimed the communication contradicts Joe Biden’s assertion that he hadn’t spoken to his son about his business dealings. The emails didn’t say definitively whether Joe Biden actually met the executive. The Biden campaign said the former vice president’s schedules show that no such meeting took place.The details of the Post article haven’t been independently confirmed by Bloomberg News.The Judiciary hearing would mark the third congressional appearance in 2020 for Zuckerberg, after next week’s Commerce Committee testimony and a July hearing on antitrust before a House subcommittee.Zuckerberg and other technology executives face growing hostility not just on Capitol Hill, but in the Trump administration and among state attorneys general.Amid Republican complaints regarding the Post article, the Federal Communications Commission said last week that it would review the liability shield for Facebook and Twitter.And on Tuesday, the Justice Department, in the most significant antitrust case against an American company in two decades, sued Alphabet-owned Google, kicking off what promises to be a volley of legal actions against the search giant for allegedly abusing its market power.Google, which controls about 90% of the online search market in the U.S., is the “unchallenged gateway” to the internet and engaged in a variety of anticompetitive practices to maintain and extend its monopoly, the government said in a complaint filed Tuesday in Washington.Google called the government’s case “deeply flawed” and said it would actually hurt consumers because it would “artificially prop up” lower-quality search options and raise phone prices.(Updates with Trump comment, in paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Patreon Inc. is known as a place where podcasters and other internet creators go to make money through subscriptions. But on Thursday, it became the latest social media company to address the growing presence of the conspiracy group QAnon.The company announced in a blog post that they would be taking action against accounts who use their platform to actively spread QAnon’s beliefs. The post detailed how “QAnon-dedicated creators that are identified by our Policy and Trust & Safety teams will have their accounts removed from Patreon.”Patreon said accounts that analyzed the QAnon phenomenon wouldn’t be impacted by the ban. Creators who have spread some QAnon ideas but “are not dedicated to spreading QAnon content” would also be given the opportunity to bring their accounts into compliance, according to the company.A search of Patreon by Bloomberg showed that many of the larger QAnon accounts had been removed. One of the few that were still active linked directly to QMap.pub, the domain of a popular QAnon website that went offline last month after a now former Citigroup employee was identified as its developer. A second Patreon account found by Bloomberg featured multiple videos explicitly promoting QAnon.A Patreon spokesperson told Bloomberg that both pages were being reviewed by the company’s Trust & Safety team.QAnon is a pro-Trump conspiracy theory that first emerged in late 2017. Many of its followers believe that President Donald Trump is engaged a secret battle against a cabal of pedophiles that includes many members of the Democratic Party and several Hollywood celebrities. While it began in the U.S., versions of the conspiracy exist in many countries around the world.Patreon’s announcement follows other measures by social media companies to curb QAnon. Facebook Inc. said it would remove accounts associated with QAnon, and Google’s YouTube said it would ban videos promoting the group. In July, Twitter Inc. announced it was banning thousands of accounts associated with QAnon.The measures have had varying degrees of effect, with many users notably taking to Twitter following Patreon’s move to complain that they had been censored. YouTube’s more limited crackdown also allowed a number of videos associated with the conspiracy theory to remain on their platform. This isn’t the first time that Patreon has had to contend with far-right extremists using their platform. In 2018, the company banned the accounts of several far-right figures who had been raising money using the site to raise money.The presence of QAnon on Patreon was highlighted in report earlier this week from not-for-profit Media Matters for America.“For most QAnon influencers, the grift has become more about money than Q,” said Olivia Little, a Media Matters researcher and author of the report. “The conspiracy theory has been contorted in so many different directions that followers are able to cash in on anything Q-adjacent, from car decals to books.””Followers of QAnon have attempted to monetize the conspiracy theory on other sites too. Etsy Inc. recently removed QAnon-related merchandise from its online marketplace, and Spotify Technology SA took down several QAnon podcasts from its service.However, QAnon merchanside remains readily available on the internet. Third-party sellers continue to sell multiple products affiliated with the QAnon conspiracy via Amazon.com Inc.’s website. A rudimentary search of their website surfaced everything from books about QAnon to apparel bearing hashtags and phrases associated with the conspiracy theory.A similar range of products could also be found on EBay Inc.’s and Alibaba Group’s AliExpress marketplaces.An Amazon spokesman declined to comment about the presence of QAnon merchandise on the site.EBay and AliExpress didn’t respond to a request for comment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.