Lots has happened this past week in the tech world! With Sam Altman returning to OpenAI following his dismissal, U.S. lawmakers pushing for the investigation of Elon Musk, Biden proposing a ban on cable and satellite service early termination fees, and more, there’s much to catch up on. So, let’s get started!
Sam Altman Returns to OpenAI Following Dismissal
Sam Altman returned to his position as CEO of OpenAI shortly after his removal. Altman expressed his anticipation of returning to OpenAI in a post on X on Nov. 22.
In a statement on Nov. 17, OpenAI stated Altman’s initial dismissal was due to a lack of honesty: “Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. The board no longer has confidence in his ability to continue leading OpenAI.”
US Lawmakers Push for Investigation of Elon Musk
Federal regulators are being urged by Representative Earl Blumenauer of Oregon, along with three other Democrats, to examine whether Elon Musk deceived tech investors about Neuralink, his brain-chip startup, by hiding the disturbing deaths of animals subjected to its implants.
Select members of the U.S. House of Representatives believe Musk made false statements in Sept. 2023 concerning 12 macaque monkeys involved in experiments at a California primate center from 2018 to 2020. The investigation would see whether Musk violated securities fraud rules by downplaying the fatal aspects of Neuralink’s tests.
Biden Proposes Ban on Cable and Satellite Service Early Termination Fees
On Nov. 21, the Federal Communications Commission (FCC) proposed a rule restricting early termination fees for cable and satellite service contracts. The rule would mandate cable operators and direct broadcast satellite (DBS) providers to eliminate the fees and offer customers a prorated credit or rebate for the remaining days within a billing cycle after cancellation. The proposed rule aligns with President Joe Biden’s broader effort to reduce surplus fees and promote competition in the U.S. economy.
Amazon Cuts Jobs in the Alexa Division
On Nov. 17, Amazon began layoffs within its Alexa tech division, affecting “several hundred” employees as part of a broader effort to streamline operations, which began in 2022. The move will help turn the focus toward generative AI. Daniel Rausch, Amazon’s VP of Alexa and Fire T.V., announced the decision in a memo.
Mastercard Makes Moves to Prevent Crypto Fraud
Mastercard is intensifying its efforts to combat cryptocurrency exchange fraud by partnering with the regulatory tech platform Feedzai. In an exclusive statement to CNBC, Mastercard revealed that Feedzai would directly integrate with its CipherTrace Armada platform. This platform monitors transactions from over 6,000 crypto exchanges, aiding in fraud detection and preventing money laundering.
