Tech lobbying balloons in statehouses
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Image © AP Photo/Hans Pennink, File
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Tech lobbying in the states ballooned over the past decade as the center of gravity for regulating online platforms swung from Congress to state legislatures, a trend likely to continue as states move quickly to regulate artificial intelligence.
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Many states do not require full disclosure of lobbying expenditures. But in 19 that do, major tech companies and industry trade groups tripled their lobbying spending from at least $4.4 million in 2013 to $13.4 million in 2023, according to an analysis conducted for Pluribus News by OpenSecrets, which tracks money in U.S. politics.
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The tech lobbying growth coincides with technology and social media companies maturing, and with states becoming the epicenter of tech-related policy amid congressional inaction. In recent years, state lawmakers have taken the lead on data privacy, youth online safety, social media regulation and, most recently, AI oversight.
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Welcome to Tech Friday, a joint project of The Hill and Pluribus News covering tech policy across government.
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Image © Jakub Porzycki/NurPhoto via Getty Images
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DOJ, FTC eye anti-trust probes
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The Department of Justice and the Federal Trade Commission will open antitrust investigations into Microsoft, Nvidia and OpenAI over their role in the artificial intelligence industry. Federal officials have already sent the first subpoenas. Read more at The Hill.
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Yellen warns of AI risks to financial system
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Treasury Secretary Janet Yellen has warned that artificial intelligence (AI) could pose “significant risks” to the financial system. Yellen said the Treasury Department would launch a formal public request for information about the uses of AI in the financial services sector. Read more at The Hill.
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Warner warns of election threats
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Senate Intelligence Committee chairman Mark Warner (D-Va.) is warning the United States is more vulnerable to election interference than at this point four years ago. Warner raised concerns over artificial intelligence and more advanced disinformation tactics by Russia and China. Read more at The Hill.
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YouTube to restrict firearm content
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YouTube will begin restricting firearm content for younger users. The social media giant said it would restrict content showing the use of homemade and automatic firearms and how to remove safety devices. Read more at The Hill.
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Music and podcast streamer Spotify will raise monthly subscription prices to $11.99, up a dollar from the current rate. Spotify reaches an estimated 615 million users in 180 countries. Read more at The Hill.
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Magnificent Seven performance this week
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AAPL +1%, NVDA +4.8%, MSFT +2.1%, GOOG +2.6%, TSLA -0.1%, AMZN +4.2%, META +5.4%. NASDAQ-100 Tech Sector index: +1.1%. Nvidia has overtaken Apple as the world’s second-most valuable company.
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New York lawmakers are likely to approve a bill barring social media firms from showing “addictive feeds” to minors who maintain accounts on their platforms. Another bill prohibiting the collection or sale of a child’s online data without informed consent is also likely to pass. Read more at Pluribus News.
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Connecticut to try again on AI bill: Sen. James Maroney (D) says he will reintroduce legislation regulating artificial intelligence next year, after the bill died in the face of a veto threat last month. Maroney said the new version will refocus on algorithmic discrimination. Read more at Pluribus News.
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June 10: Apple’s Worldwide Developer Conference keynote address begins at 1 p.m. ET. Watch here.
June 13: The Senate Commerce, Science and Transportation Committee holds a hearing into the FAA’s oversight of aviation, following high-profile incidents at American airports.
June 13: The House Homeland Security Committee holds a hearing on Microsoft’s cybersecurity shortfalls and implications for national security.
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SpaceX’s Starship completed its first successful test flight without exploding on Thursday, a banner moment for Elon Musk’s company. The spacecraft splashed down in the Indian Ocean in a controlled manner. Read more at The Hill.
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Another reason to care for your iPhone: Hairline display cracks on iPhones and Apple Watches are no longer covered under Apple’s standard warranty policies. Hairline fractures will be classified as accidental damage, meaning users will have to pay for repair if there is no other damage. Read more at 9to5Mac.
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You’re all caught up! See you next week.
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