A different section for me – this is just headlines I want you aware of… and know I am dismissing them for now.
During the Senate hearing on online child safety, senators aggressively questioned tech executives, particularly from Meta and TikTok. Mark Zuckerberg directly addressed victims’ families. Key takeaways include the senators’ aggressive questioning, Zuckerberg’s apology to the families, Meta and TikTok facing the most scrutiny, two CEOs supporting the Kids Online Safety Act, concerns about TikTok’s ties to China, and the lack of meaningful legislation despite years of debate.
A judge in Delaware has canceled a $55.8 billion pay deal awarded to Elon Musk by Tesla in 2018. The lawsuit was filed by a shareholder who argued that it was an overpayment. The judge found that Tesla directors did not fully inform shareholders and ruled that the deal should be canceled. The pay deal was the biggest ever in US corporate history and helped make Musk the wealthiest person in the world.
SolarWinds accuses the SEC of seeking to “revictimise the victim” after the agency sued the company over the 2020 cyberattack. SolarWinds argues that the fraud charges are unfounded and unprecedented and that the case should be dismissed. The SEC alleges that SolarWinds misled investors about its security practices. The company’s attorneys argue that the SEC’s claims fail and that management did not make materially misleading statements.
Why do we care?
I don’t think we do. The SolarWinds story (and disclosure, I’m a stockholder), is just an update, and while I think the buzz around regulation of tech companies is real, I’m not sure either of these developments have significant impact for the IT and managed services space. I might be wrong, so I’m hedging my bets here.