Tag: google

  • Big Tech Antitrust Lawyers Raise Harris Fundraising: ‘Trying to Storm the Castle’

    Big Tech Antitrust Lawyers Raise Harris Fundraising: ‘Trying to Storm the Castle’

    High-powered lawyers representing Big Tech clients have co-hosted a series of fundraisers for Kamala Harris’ campaign as the 2024 presidential election approaches — and antitrust watchdogs are crying foul.

    Last Thursday, a group of “antitrust lawyers and economists for Harris” held a virtual fundraiser featuring former US Assistant Attorney General Vanita Gupta. Ticket prices ranged up to $6,600, according to a copy of an invitation obtained by The Post.

    Notable co-hosts included Daniel Bitton, a partner at San Francisco-based law firm Axinn, which is defending Google in the Biden-Harris DOJ lawsuit targeting its alleged monopoly over digital advertising.

    Other co-chairs included Renata Hesse, who once played down concerns about Google’s monopoly on Internet search; Edith Ramirez, a Democratic former FTC chair who once defended Google-owned YouTube in a children’s privacy lawsuit; and Ethan Glass, who has repped clients like JetBlue against US antitrust complaints.

    Kamala Harris’s campaign surrogates have signaled that she will take a more business-friendly stance. ZUMAPRESS.com

    “This is a group of ‘Big Law’ lawyers who have represented monopolists against the FTC and the DOJ, and they are brazenly trying to storm the citadel after being shut out during the Biden years,” said a Democrat who focuses on antitrust issues. Post office.

    The Post reached out to the campaign of Harris, Bitton, Hesse, Ramirez and Glass for comment, but did not hear back.

    Earlier this month, The Post reported on conflict-of-interest concerns that arose after several key members of Google’s legal team co-hosted an Oct. 18 fundraiser for Harris in Washington, D.C. — with tickets costing up to $50,000. dollars.

    Karen Dunn, a lead litigator at the white-shoe law firm Paul Weiss who infamously led the preparation of Harris’ last debate against Trump on the same day she gave Google’s opening defense in the digital advertising trial, was listed as co-chair.

    Daniel Bitton is part of the team defending Google in the DOJ’s antitrust case targeting its digital advertising business. Axinn

    Dunn’s colleagues Jeannie Rhee and Bill Isaacson also attended the event, which featured appearances by former U.S. Attorney General Eric Holder, Uber general counsel and Harris’ brother-in-law Tony West and former U.S. Attorney Acting General, Sally Yates.

    Just one day later, longtime Amazon general counsel David Zapolsky co-hosted a fundraiser with top Harris campaign surrogate and California Gov. Gavin Newsom, according to a copy of the invitation obtained by The Post.

    In California, Newsom recently vetoed an AI security bill that had been heavily lobbied by tech venture firm Andreessen Horowitz and trade groups representing Google and Meta. After initially opposing the bill, Amazon-backed artificial intelligence firm Anthropic expressed lukewarm support for the bill after securing amendments.

    Edith Ramirez is listed as co-chairing a fundraiser for the Harris campaign last Thursday. Getty Images

    The offensive is taking place as Big Tech firms face an unprecedented wave of antitrust litigation.

    Apple and Google are in the midst of landmark Justice Department antitrust cases, while Amazon and Facebook are currently being sued by the Federal Trade Commission. AI leaders such as chip supplier Nvidia and OpenAI also have the attention of regulators.

    “It should be deeply troubling to anyone, Republican or Democrat, who cares about reining in Big Tech monopolies that (the Harris campaign) continues to hold fundraisers with lawyers for Google and other big tech companies,” the executive said. of public affairs Garrett Ventry.

    Top regulators appointed by the Biden-Harris administration, including FTC Chairman Lina Khan and SEC Chairman Gary Gensler, have faced backlash from Silicon Valley bigwigs for leading a crackdown on prominent firms active in the sectors. of artificial intelligence and cryptocurrencies.

    Renata Hesse once downplayed concerns about Google’s monopoly on Internet search. Sullivan & Cromwell LLP

    In July, billionaire Reid Hoffman sparked outrage among progressives when he accused Khan of waging “war on American business” and openly called on Harris to fire him if elected. Other Democratic attorneys, including Mark Cuban, have called for Gensler to be forced out.

    The backlash has contributed to a surprising shift in Silicon Valley support for Trump — most notably in the form of Elon Musk, who recently declared himself a “dark MAGA” and contributed millions to his campaign.

    Harris’ campaign has made clear efforts to secure Silicon Valley, a longtime source of support and large donations for Democrats.

    Harris’ top replacements such as Cuban and West have stated publicly and behind closed doors that she would take a more friendly stance toward corporate interests if elected.

    Karen Dunn (center) and other Google lawyers organized a fundraiser for Kamala Harris earlier this month. Reuters

    Cuban, asked by The Post if he had any idea how a Harris administration would handle Big Tech’s antitrust issues, replied, “I don’t.”

    Last week, the Washington Post reported that West and former Treasury official Brian Nelson have told groups of tech executives that they are in “listening mode” during private outreach meetings on Harris’ behalf.

    Andreesen Horowitz co-founder Ben Horowitz, who previously expressed support for Trump, reversed course last month by pledging a “significant” donation to Harris. Horowitz said he “had several conversations with Vice President Harris and her team about their potential technology policies, and I’m encouraged by my confidence in her.”

    Kamala Harris has yet to take a firm stance on how she will approach Big Tech’s antitrust issues. Getty Images

    In September, Harris released an economic policy outline that provided arguably the most substantive picture of the policies she would pursue in office.

    The 82-page document said a Harris administration would “encourage innovative technologies like artificial intelligence and digital assets while protecting our consumers and investors” — but referred to the word “antitrust only once.”

    Some antitrust watchdogs previously warned that corporate-friendly advisers in Harris’ orbit could lobby behind the scenes for leniency toward Google — potentially in the form of a “slap on the wrist” rather than a full divestment sought by the feds.

    In August, the DOJ won a landmark victory after Judge Amit Mehta ruled that Google was a “monopolist” with an illegal stranglehold on the Internet search market. He is expected to decide on remedies by next summer – and the feds have floated a forced sale of Google’s Android software or the Chrome browser as possible fixes.

    Meanwhile, closing arguments in the DOJ’s digital advertising antitrust case are expected to conclude in November. Google chief Sundar Pichai has admitted that he expects the company to be involved in antitrust litigation and appeals for “many years”.

    #Big #Tech #Antitrust #Lawyers #Raise #Harris #Fundraising #Storm #Castle
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  • Google parent Alphabet posts 15% rise in revenue as CEO says AI investments ‘pay off’

    Google parent Alphabet posts 15% rise in revenue as CEO says AI investments ‘pay off’

    Google parent Alphabet topped third-quarter earnings and revenue on Tuesday, helped by a 35% AI-driven increase in its cloud business, as well as a rise in its digital advertising revenue.

    Alphabet shares, which closed up 1.8% on Tuesday, rose 4.4% in after-hours trading. Shares are up nearly 22% this year, in line with the broader market.

    CEO Sundar Pichai said AI investments were “paying off” through usage and sales in its Search and Cloud businesses.

    CEO Sundar Pichai said investments in AI were “paying off.” AFP via Getty Images

    Perceived as slow to catch up with Big Tech rival Microsoft in the AI ​​race, Google has improved its Gemini AI chatbot and made more improvements to its AI search offering. The company is continuing to spend heavily on AI.

    Its new chief financial officer, Anat Ashkenazi, making her first call with analysts, said Alphabet’s capital spending in 2025 would be higher than this year.

    In the third quarter, Alphabet’s equity rose 62% to $13 billion. The fourth quarter is expected to be similar, she said.

    Revenue from Google’s cloud platform rose to $11.35 billion, beating analysts’ estimate of $10.86 billion.

    It was the fastest pace of growth in eight quarters, thanks to enterprises doubling their cloud spending, which is key to powering artificial intelligence technologies.

    “I think it was an impressive quarter because the fact that Google Cloud was able to more than offset the decline in Search speaks to both the growing importance of cloud revenue and the fact that the company continues to diversify its revenue base, ” said Bob O’Donnell. president of TECHnalysis Research.

    Revenue rose 15% to $88.27 billion, beating analysts’ estimates. AP

    Google has rolled out AI Summaries ads, which use generative AI to aggregate content from a variety of sources and display concise results for search queries.

    Analysts said users find the company’s new AI tools more effective than before — a significant improvement from earlier this year when the feature drew heavy criticism for showing incorrect answers, including a pizza recipe that listed glue as an ingredient.

    According to LSEG, Alphabet beat earnings expectations with earnings of $2.12 per share, compared to an average market estimate of $1.85.

    In the third quarter, Alphabet’s capital spending rose 62% to $13 billion. The fourth quarter is expected to be similar. Getty Images

    Digital ad sales — the largest share of Alphabet’s total revenue — rose to $65.85 billion from $59.65 billion. That includes YouTube ad sales that rose 12% to $8.92 billion but slowed from the second quarter.

    Google’s dominant position in the digital ad market has helped attract marketing dollars, even as TikTok and Amazon make inroads with marketers. Quarterly results also got a boost from increased political spending ahead of the presidential election and the 2024 Paris Olympics that ended in August.

    Social media company Snap, which also depends on advertising, posted good news for shareholders, topping Wall Street’s targets for quarterly revenue and user growth, sending shares up 6% in after-hours trading. of work.

    Alphabet’s total revenue rose 15% to $88.27 billion in the July-September period, while analysts on average were expecting $86.30 billion, according to LSEG data.

    #Google #parent #Alphabet #posts #rise #revenue #CEO #investments #pay
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  • Google accused of imposing ‘illegal order’ blocking workers from discussing antitrust cases

    Google accused of imposing ‘illegal order’ blocking workers from discussing antitrust cases

    A union representing Google employees is demanding that the tech giant lift what it called an “illegal gag order” barring them from discussing landmark antitrust cases that could upend the company’s business.

    On August 5, US District Judge Amit Mehta ruled that Google is a “monopolist” with an illegal stranglehold on the Internet search market.

    That same day, Google’s president of global affairs, Kent Walker, instructed employees not to comment on the case inside or outside the workplace.

    Google’s president of global affairs, Kent Walker, told employees not to comment on the case. Getty Images

    The Alphabet Workers Union alleges Walker violated a federal labor law with “overly board directive” in an effort to “increase workers’ say” in antitrust battles, according to a copy of the Aug. 15 filing obtained by The Post.

    “Our employer continues to demonstrate a blatant disregard for federal labor law and our right to discuss working conditions with co-workers – up to and including proposed settlements of federal antitrust actions that could affect many of our jobs in Google,” said Parul Koul, one. Google software engineer and president of the Alphabet Workers Union.

    Mehta is expected to decide on legal remedies to address Google’s search monopoly by next summer.

    The Justice Department recently indicated it could seek a breakup of Google through a forced divestment of parts of its business, such as its Chrome web browser.

    Google disputed the union’s complaint.

    “We respect the rights of Google employees to speak out about their terms and conditions of employment,” Google spokesman Peter Schottenfels said in a statement. “As is standard practice, we are simply asking that employees not speak about ongoing litigation on behalf of Google without prior approval.”

    The Verge was the first to report on the complaint.

    Google is accused of stifling workers’ discussion of pending antitrust cases against the company. Christopher Sadowski

    The labor complaint is the latest sign of discord between Google and its workforce. In April, the tech giant fired dozens of employees who were involved in anti-Israel protests at its offices.

    A separate DOJ antitrust case targeting Google’s alleged monopoly over digital ad technology is also underway. Closing arguments in that case are scheduled to begin next month.

    Google CEO Sundar Pichai has acknowledged that the company will likely be tied up in court for many years as it fights the cases.

    Google CEO Sundar Pichai has said the company will be tied up in court for many years. AP

    In a lengthy statement, the Alphabet Workers Union said it is “important that workers are engaged and that our views and interests are taken into account during the decision-making process around antitrust remedies.”

    “That hasn’t happened yet,” the union added.

    Google has vowed to appeal the judge’s decision and has waived the legal remedies proposed by the DOJ – calling it a “radical” framework that would go “far beyond the specific legal issues in this case”.

    #Google #accused #imposing #illegal #order #blocking #workers #discussing #antitrust #cases
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  • The former CEO of Google says the US military should ditch tanks in favor of these weapons

    The former CEO of Google says the US military should ditch tanks in favor of these weapons

    Eric Schmidt, the billionaire investor and former CEO of Google, said it’s time for the US military to ditch tanks, artillery and mortars in favor of aerial drones like the ones he’s building to help Ukraine.

    “I read somewhere that the US had thousands and thousands of tanks stored somewhere,” he told the Future Investment Initiative in Saudi Arabia on Wednesday.

    “Give them to me. Buy a drone instead.”

    Former Google CEO Eric Schmidt thinks the US military should ditch drones in favor of tanks. Reuters

    Schmidt’s comments were reported by Bloomberg News.

    Schmidt was ranked by the Bloomberg Billionaires Index as the 51st richest person in the world with an estimated fortune of $33.3 billion as of Wednesday.

    The former Google boss said the Russia-Ukraine war has shown how “a $5,000 drone can destroy a $5 million tank.”

    Earlier this year, Forbes reported that Schmidt is the founder of White Stork, a military startup that is building a “kamikaze drone” that is designed to roam the battlefield before being sent to destroy its target.

    “White stork” is also a reference to a species of bird commonly found in Ukraine, where Schmidt has taken an important role in helping the country’s defense efforts to repel Russian invasion.

    According to Forbes, the company has developed a mass-produced drone that uses artificial intelligence to zero in on a target even in environments where communications are disrupted by GPS jamming.

    In July of last year, Schmidt wrote an op-ed for the Wall Street Journal declaring drones to be “the future of warfare.

    Schmidt is the founder of a military startup that is developing “kamikaze drones” to help Ukraine repel the Russian invasion. AP
    Schmidt said the US military should hand over its tanks. The image above shows a Ukrainian tank during a training exercise on October 27. AFP via Getty Images

    According to Schmidt, Ukrainian forces have “succeeded” because of their drone deployment – this despite the fact that Russia has a 3-to-1 advantage in soldiers as well as air superiority.

    While Ukraine has suffered heavy losses, it has “constantly renewed the enemy”.

    Schmidt served as Google’s CEO from 2001 to 2011, a time of rapid growth for the California-based technology company.

    He later became executive chairman of Google, and in 2015, of its new parent company, Alphabet, before stepping down as chairman in 2018.

    #CEO #Google #military #ditch #tanks #favor #weapons
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