While Fighting Workers, Railroads Made Over $10 Billion in Stock Buybacks

“Our research shows just how far railroad executives will go to funnel record profits to their shareholders—even if that means stagnant wages, inhumane attendance policies, and throwing our supply chain into further turmoil,” said one Groundwork Collaborative analyst.

While Fighting Workers, Railroads Made Over $10 Billion in Stock Buybacks

H/T: Unorthodox Truth

Techbro Influencer Scott Galloway Heads To The Fainting Couch Over TikTok

Techbro Influencer Scott Galloway Heads To The Fainting Couch Over TikTok

This week, Galloway spent his time pushing the hot DC claim du jour: that TikTok is a profound menace to the planet and should be banned. He made the point at the Vox Code conference, then hopped over to Bill Maher’s HBO show to make a similar pronouncement:

Actual evidence of TikTok being uniquely dangerous (especially any indication China has used or could use TikTok to bedazzle U.S. children) has been sorely lacking, but that doesn’t stop folks from heading to the fainting couches. This face fanning has been especially popular among a certain set of xenophobic DC politicians, and companies that don’t want to have to directly compete with China.

The problem: the U.S. is a corrupt, xenophobic, superficial dumpster fire, so most of the “solutions” to this potential problem have been stupid and performative.

Here’s the thing: you could ban TikTok immediately, and China could hoover up location, browsing, and behavior data from an ocean of completely unaccountable and hugely shady data brokers and middlemen. And they can do that because U.S. privacy and security standards are hot garbage. And in some instances, they’re hot garbage because of the same people now complaining about TikTok.

Both Carr and Cruz have extensive histories of undermining regulatory oversight and privacy rules at absolutely every opportunity, yet both are lauded by Galloway in a blog post for being heroic leaders in the “ban TikTok” crusades. Galloway’s a top pundit, yet somehow can’t see that Carr and Cruz are engaged in a zero-calorie xenophobic theatrics, and couldn’t care less about actual consumer privacy.

For literally thirty straight years, at absolutely every single turn, we prioritized making money over transparency or consumer privacy. As a result, consumer privacy protections are garbage, regulators are toothless, governments exploit the attention economy to avoid having to get warrants, and any idiot with a nickel can easily build gigantic, hugely detailed profiles about your everyday life without your consent.

“Banning TikTok” does nothing meaningful if you’re genuinely interested in meaningful surveillance and privacy reform. There will always be another TikTok. There’s an ocean of companies engaging in the same or worse behavior as TikTok because we’ve sanctioned this kind of guardrail-optional hyper-collection and monetization of consumer behavioral data at every step of the way.

Many of the folks beating the “ban TikTok” drum may be well intentioned but just don’t really understand how broken the consumer privacy landscape is. They may not understand that this is a problem that’s exponentially more complicated than just what we do with a single app. Freaking out exclusively about a single app tells me you either don’t really understand the data-hoovering monster we’ve built, or don’t really care if anybody other than China exploits it (waves tiny American flag patriotically).

Many of the other folks calling for a TikTok ban aren’t operating in good faith. Facebook/Meta, for example, spends a lot of time spreading scary stories about TikTok in the press and DC because they want to crush a competitive threat they’ve been incapable of out-innovating. Similar, Politico’s owner is on the Netflix board and simply wants to curtail what he sees as a threat to market and advertising mindshare.

Then there’s just a ton of Silicon Valley folks who believe they inherently own and deserve the advertising market share TikTok occupies. And then of course there’s just a whole bunch of rank bigots who are mad because darker skinned human beings built a popular app, and try to hide this bigotry behind patriotic, pseudo national security concerns.

All of this converges to create a stupid, soupy mess that’s devoid of any actual fixes to any actual problems. Hyper surveillance and propaganda are very real problems that require a dizzying array of complicated fixes, including media and privacy policy reform, antitrust reform, tougher consumer protection standards, education reform, and a meaningful privacy law for the internet era.

Previously:

The NATO to TikTok Pipeline: Why is TikTok Employing So Many National Security Agents?

The White House is briefing TikTok stars about the war in Ukraine

UK uses TikTok influencers to urge teens to get jab after Pfizer-linked vaccine committee chair admits policy lacks evidence + White House enlists army of social media influencers to promote COVID-19 vaccines

Bill Gates Failed Effort to Feed Africa:Was he even trying to help in the first place?

Healthcare administration students in the United States have no choice but to learn about private vs public interests, and the power that private interests have in crafting the Nation’s healthcare policy. Essentials of Health Policy and Law is a fairly standard healthcare administration textbook that budding health policy experts are given to study in American universities. The text uses health policy decisions made in recent years by the Bill and Melinda Gates Foundation as an example of the way private interests control public health policy. According to the book, the Bill and Melinda Gates foundation “provides grants to develop crops that are high in essential vitamins and minerals to improve the nutrition of people in developing countries” (Wilensky, 2023). A very uncritical examination of the way investors like Gates use their wealth to make important decisions that affect millions.

Bill Gates Failed Effort to Feed Africa:Was he even trying to help in the first place?

Resources:

Gates-funded ‘green revolution’ in Africa has failed, critics say

Bill Gates: ‘We’re in a Worse Place Than I Expected’

Irish Potato Famine: How Belief In Overpopulation Leads To Human Evil

Serve the people: The eradication of extreme poverty in China.

US, Allies Agree To Implement Russian Oil Price Cap Plan

US, Allies Agree To Implement Russian Oil Price Cap Plan

If Russia responds to the attempted price cap by cutting oil production [they already have], experts have warned prices could skyrocket. In the worst-case scenario, analysts at JPMorgan Chase said oil could shoot up to a “stratospheric” $380 per barrel. Oil prices are currently hovering around $100 per barrel.

How do higher oil prices prevent a worldwide recession?! Did the Biden Administration even think this through?! 🤯

Real Estate CEO: Recession Could Be “Good” if “Unemployment … Puts Employers Back in the Driver Seat”

The CEO and president of Douglas Emmett Inc., a real estate corporation worth over $3 billion and based in Santa Monica, California, said on an August 2 corporate earnings call that a recession could be “good” for the commercial real estate business “if it comes with a level of unemployment that puts employers back in the driver seat and allows them to get all their employees back into the office.” The executive, Jordan Kaplan, then repeated that “the thought would be that unemployment would be up. And therefore, employers would be in the driver seat to bring people back in the office, which is where they want them.”

Real Estate CEO: Recession Could Be “Good” if “Unemployment … Puts Employers Back in the Driver Seat”

Manchin’s Climate Reversal Comes With Major Caveat: Expanding Oil and Gas

Conservative coal baron Sen. Joe Manchin (D-West Virginia) announced on Wednesday that he has come to an agreement with Democratic leaders for a reconciliation bill with key climate, prescription drug price and tax reforms — with a major caveat to expand oil and gas exploration.

Manchin’s Climate Reversal Comes With Major Caveat: Expanding Oil and Gas

Related:

Senate Dems reach draft deal to extend ACA premiums, lower drug costs

Also included in the Inflation Reduction Act — a bid to lower drug prices. Medicare will be allowed to negotiate the prices of some 10 pharmaceutical drugs in 2026, 15 more drugs in 2027 and 2028 and 20 more in 2029. In addition to price negotiation, the bill also imposes penalizing rebates on pharmaceutical manufacturers who hike drug costs above the rate of inflation starting next year.

Doumbouya orders Foreign Mining companies to process bauxite in Guinea, sets May as deadline

Doumbouya orders Foreign Mining companies to process bauxite in Guinea, sets May as deadline

“Despite the mining boom in the bauxite sector, we have to admit that the expected revenues are below expectations, and you and we cannot continue this game of fools that perpetuates great inequality in our relations” Doumbouya said.

The issue of countries earning less from their resources cuts across Africa. In some cases, the nation earns less than 40% of its own resources whilst the multinationals walk away with the big cuts. Do you think all other African countries should emulate this approach?