Meta Faces Potential Multi-Million Dollar Fine for Ignoring Content Agreement in Australia

Meta and various tech firms that decline to enter into content agreements with Australian news organizations could face hefty multimillion-dollar penalties, as Labor’s proposed media bargaining initiative aims to link fines to the local revenues of major platforms.

New regulations will apply to large social media and search platforms generating at least $250 million in Australian revenue, regardless of whether they distribute news content, as per recent disclosures from Assistant Treasurer Daniel Mulino.

Labor has shown a slow response in formulating a news bargaining incentive plan due to apprehensions about potential backlash from US President Donald Trump regarding his approach to US-based platforms.


Initially announced in December 2024, the implementation date remains uncertain, pending a month-long public consultation by the government.

These new regulations are intended to compel payments from platforms which have chosen to withdraw from the news media bargaining framework established during Prime Minister Morrison’s administration, a structure that has enabled publishers like Guardian Australia to secure around 30 agreements valued at an estimated $200 million to $250 million annually.

The decline in advertising revenue has significantly affected major media operators like News Corp and Nine and Seven West Media, leading to layoffs and cost reductions, while digital giants such as Google and Facebook’s parent companies continue to enjoy substantial profits.

Meta, which owns platforms like Facebook and Instagram, has declined to enter into new contracts under the existing terms, whereas Google has willingly renewed some contracts with publishers, albeit at lower payment rates.

Tech firms can bypass existing arrangements by entirely removing news content from their platforms, a move made by Meta in Canada in 2023.

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Labor’s new incentive initiative aims to assist news publishers in obtaining funding even from platforms that have opted out of the news bargaining system and to support smaller publishers that depend heavily on digital platforms for content distribution.

A new discussion paper outlines that if a tech platform refuses to engage in a content agreement, it will be required to pay either a portion of the gross revenue produced in Australia or just the revenue stemming from digital advertising. This penalty would be enforced at the group level and would not extend to smaller subsidiary brands owned by larger corporations.

The Treasury has indicated support for a $250 million annual income threshold for this new framework and suggested that the government use the total group income generated in Australia as the primary benchmark for payments.

Preliminary analyses estimate the worth of existing agreements with publishers is approximately equivalent to 1.5% of the revenue generated by relevant platforms in Australia. The new fines could reach 2.25% of revenue to facilitate trading under existing laws. According to the proposed structure of the new incentives, a portion of eligible expenses might be utilized to decrease penalty amounts.

Companies will need to self-evaluate their liabilities under these regulations, but the legislation will depend on a broad definition of social media and search.

Despite not having a registered business account in Australia, Facebook’s Australian subsidiary announced in April that it generated $1.46 billion in revenue for the year ending December 31, an increase from $1.34 billion the previous year, despite declining advertising markets.

President Trump has previously threatened to impose significant trade tariffs on countries perceived to treat American firms unfairly. His former confidant and billionaire advisor, Elon Musk, is the owner of Platform X.

Nonetheless, Labor is proceeding with the introduction of new penalties following Anthony Albanese’s productive meeting at the White House last month.

Former chairman of the competition watchdog, Rod Sims, has expressed support for Labor’s proposed penalty system, stating that Google and Facebook are profiting from content created by Australian news organizations and that failing to bolster journalism would enable lower-quality sources to flourish.

Sims had previously estimated that commercial contracts established under these terms amounted to $1 billion over a four-year period.

The government will continue consultations regarding the incentive plan until December 19, after which it will finalize its strategy in 2026.




Source: www.theguardian.com

Are video games the most expensive form of entertainment ever, with multi-billion dollar budgets?

HHow much does it cost to make a video game? The development costs for blockbuster games are closely guarded trade secrets, but they’re rising year by year in preparation for Hollywood-style mega-spending.

Due to industry leaks, exposure How major video game budgets are ballooning to $100 million, $200 million, and even more. The cost of Call of Duty, one of the best-selling franchises, has ballooned to $700m (£573m), but it’s just a number It was recently revealed When reporters took a closer look at court filings.

But there’s one game whose budget is no secret at all. Vast multiplayer space simulator Star Citizen releases funding on the website And they are updated in real time. Currently, that amount is $777,145,107 (this number will be outdated as soon as this article is published). It will quickly surpass $800 million, and will probably break through the roof within a year or so, becoming the world’s first billion-dollar video game.

Unless we lose another big game – and then Some of the things in productionThe cost is likely not disclosed, but if it were, it would be the most expensive piece of entertainment ever produced. Star Wars: The Force Awakens, most expensive movie ever madecosts about half that.

Star Citizen’s numbers are public because the PC game is being funded by players themselves, not investors.

“The heart of Star Citizen is fandom,” says Rhys Elliott, a gaming industry analyst at London-based market research firm MIDiA Research. “This is more of a movement than a game. There’s a mutual commitment between developers and players to create something cool and innovative that hasn’t been seen before.”

British-American video game developer Chris Roberts – famous figure in the 1990s wing commander spacecraft Fighting Series – Started as Star Citizen Crowdfunding project In 2012, it promised to create a digital universe so large, yet so detailed, that players would “forget it’s a game.”

He raised his first $2 million on Kickstarter and has since grown that amount, driven by fans willing to invest in plans so ambitious that profitable, deadline-focused publishers wouldn’t consider the risks. continues to grow.

Years later, early versions of the game were available for fans to test, but they were almost always unplayable, constantly freezing or crashing. It’s only recently that Star Citizen has started to look and feel like a real video game.

YouTube is full of videos of players cruising around the Star Citizen world. Their spaceship flies seamlessly from a space station, descending through the planet’s atmosphere and landing in a sci-fi style city, before heading on foot into caverns deep underground. Warp holes have been added to the game, allowing players to jump between two solar systems.

“Space games are so easy to get excited about,” says Oliver Hull, who runs events focused on the games. YouTube channel The number of subscribers is 1.56 million. “It’s a very beautiful game. Visually, I think people look at it and think, ‘Oh, what’s this all about?'”

Hal, 32, used to play a lot of other games like Grand Theft Auto, but now he mainly plays Star Citizen, where he has to mine asteroids and attack space pirates. Most of the videos are posted of them running around looking for things to do. In Hal’s videos, you can often see him getting frustrated when things don’t go his way. But that’s part of the interest, he says.

“Frankly, this game is still in development,” he says. “When something doesn’t work as intended, it doesn’t bother me too much because it’s like a work in progress. If anything, I think it’s very interesting from a game development perspective.”

What drives fans of Star Citizen is the rough edges of the game, the promise of what the future holds, and seeing the game slowly move in that direction. “I can’t think of many games like Star Citizen,” says Hull. “It’s not finished yet, but I think it’s very appealing, the fact that there’s nothing else that can match it.”

It may not be over yet, but people have continued to pay for Star Citizen. Starter ships cost $45, and the game currently includes over 80 flyable ships. The most expensive ones currently available cost over £500.

Pre-release versions allow development team Cloud Imperium Games (CIG) to test how the game works with live players during development. But it also gives funders a tangible glimpse into the long and complex process of game development, rather than waiting years for a full release.

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As time goes on, it becomes increasingly important to satisfy the community. Many fans are currently donating large sums of money, including through a controversial money-making scheme in which CIG pre-sells future spaceships online. Some so-called “superbackers” Spent well over $10,000.

Elliott, the industry analyst, said fans are “putting so much money into it, and they’re really emotionally invested.”

The Star Citizen website displays ships for sale. Photo: Roberts Space Industries

The development team is also feeling pressure from the community. Allegations in industry media CIG management was criticized for imposing long working hours. a A 2016 survey by gaming website Kotaku It quoted a former employee who described “crisis” practices in which development teams were asked to work overtime before major milestones, such as gaming tournaments. Roberts told Kotaku at the time that he didn’t want “crunch as a culture.”

CIG describes Star Citizen as “the largest open development game in existence,” but its ambitions have meant the game has been in development for more than a decade, with frustrating delays. In a 2012 interview with Roberts, the Guardian reported that the game was planned to be released two years later, in 2014. Questions are regularly asked on fan forums about whether the game will be released properly.

But late last year, signs of hope began to appear. For the first time, C.I.G. Revealed what the final launch version will look likeprovides a clear vision of what is and is not included, even if no date is specified.

But what they offered was a 2026 release date for Squadrons 42, a standalone single-player game. It’s a story-driven tale set within the broader Star Citizen universe, starring a Hollywood voice cast including Mark Hamill, Gillian Anderson, and Robinson. Andy Serkis.

We can certainly expect more delays, but the end may finally be in sight.

A game made traditionally through an established publisher with investors expecting a return couldn’t survive 13 years of development without a finished product. Star Citizen was able to buck the trend of other industries in the grip of rising costs and regular layoffs. Its main backers are players rather than investors, and their motivations are different.

“I think Star Citizen’s funders saw this as a direct way to fight back against corporatization and support a passion project of the highest order,” Elliott says. “Success isn’t about maximizing value and return on investment through spreadsheets alone, it’s about putting fans at the center.”

Source: www.theguardian.com

Apple withdraws plans for multi-billion dollar electric car production

Apple has decided to cancel its plans to develop electric cars, as reported by multiple outlets. The project, known as Project Titan, was a secret endeavor that has utilized significant resources over the past decade. During an internal team meeting on Tuesday, company executives unexpectedly announced layoffs and mentioned that many employees would be reassigned to work on generative artificial intelligence, according to reports.


Apple had invested billions of dollars in developing an electric semi-autonomous car under Project Titan, and the decision to scrap the program represents a significant shift from its previous strategy.

Apple’s CEO Tim Cook had hinted at the company’s car plans in an interview, but did not fully commit to delivering the product as anticipated.

Although Apple never officially confirmed plans for a car, the project sparked speculation in the auto and tech industries. The company even hired executives from major car manufacturers like Lamborghini and Tesla, and acquired a self-driving car startup called Drive.ai in 2019.

Apple did not provide any official statement regarding the termination of the program, leaving many employees who had worked on the project surprised and potentially facing job cuts.

The company’s electric vehicle plans have undergone several changes since their initiation in 2014, facing numerous setbacks in attempts to bring the product to market.

In response to Apple’s decision, Tesla CEO Elon Musk posted a salute and cigarette emoji.

Apple is now focusing more on generative AI projects, reallocating researchers and engineers from the automotive field to special projects within the company.

During a quarterly financial results announcement, Cook hinted at Apple’s increased emphasis on artificial intelligence and the introduction of generative AI capabilities for consumers by the year’s end.

Source: www.theguardian.com

Sheryl Sandberg: From Tech Executive to 2 Billion Dollar Woman

MArc Zuckerberg hired Sheryl Sandberg as Facebook’s chief operating officer in 2008 as the social network grew rapidly and sought to attract investment. Zuckerberg was just 23 when he founded Facebook in his Harvard dorm room, but Sandberg, 38, was considered the “adult in the room.”

The former head of sales at Google and chief of staff at the U.S. Treasury has become one of the most influential people in global technology and one of the few women at the top of the industry. She also made a lot of money – which she is now worth after selling most of her stake in Meta, her Facebook parent company that also owns Instagram and her WhatsApp.
Nearly $2bn (£1.6bn).

Mr. Sandberg, now 54, stepped down from his role a year and a half ago, and announced Wednesday night that he would also step away from Meta’s board. “We feel now is the right time to exit,” she wrote in a Facebook post, noting that Mehta is “well positioned for the future.”

“Sheryl, thank you for your extraordinary contributions to our company and our community over the years,” said Zuckerberg, the world’s sixth-richest man with an estimated personal fortune of $133 billion. “Your dedication and guidance have contributed to our success, and I appreciate your unwavering dedication to me and Meta over the years.”

Mr. Sandberg was one of six executive officers.
Name as it appears in the prospectus When Facebook filed for an initial public offering in 2012. With her resignation, Zuckerberg is the only one left among the six. She was considered so important to the company’s success that she was named, along with the founder, as one of the key people who posed a potential risk to investors’ funds in the event of their departure.

Source: www.theguardian.com

It is crucial to regulate artificial intelligence within the multi-trillion dollar API economy

Application programming interface (APIs) power the modern Internet, including most websites, mobile apps, and IoT devices we use. And thanks to the Internet’s ubiquity in nearly every corner of the planet, APIs have allowed people to connect to almost any functionality they desire. This phenomenon is often referred to as “.API economy“teeth, Market value to reach $14.2 trillion by 2027.

The increasing relevance of APIs in our daily lives has attracted the attention of several authorities who are introducing major regulations. The first level is defined by organizations such as IEEE and W3C and is intended to establish standards for the technical capabilities and limitations that define technology across the Internet.

Security and data privacy aspects are covered by internationally recognized requirements such as ISO27001, GDPR, etc. Their main goal is to provide a domain framework backed by an API.

But now, with the advent of AI, regulations are becoming even more complex.

How AI integration is changing the API landscape

Different types of AI have been around for a while, but it is generative AI (and LLM) that has completely changed the risk landscape.

Many AI companies are leveraging the benefits of API technology to bring their products into every home and workplace. The most notable example here is OpenAI’s early public release of its API. This combination would not have been possible just 20 years ago. At that time, neither API nor AI had reached the level of maturity that we started observing in 2022.

When writing code or collaborating with AI, Rapidly becoming the standard in software development, especially in the complex process of creating and deploying APIs. Tools like GitHub Copilot and ChatGPT can write code that integrates with any API, and will soon define specific methods and patterns that most software engineers use to create APIs. In some cases, even if you don’t fully understand it.

We’ll also discuss how companies like Superface and Blobr are innovating in the API integration space, using AI to enable you to connect to the APIs you need in a way that would interact with a chatbot.

One type of AI that has been around for a while is generative AI (and large-scale language models). [LLMs]) completely changed the risk landscape. GenAI has the ability to create things in infinite ways, and this creativity will either be controlled by humans or, in the case of artificial general intelligence (AGI), will exceed current control capabilities.

Source: techcrunch.com