Joe Biden

Big Tech, Retail Targets of Biden Executive Order

Big Tech, Retail Targets of Biden Executive Order

A big crackdown may be headed for Big Tech, thanks to an executive order signed by President Joe Biden on Friday.
The EO’s scope looks expansive, codifying or recommending as many as 72 actions across 10 agencies targeting big business in agriculture, banking, transportation, healthcare and other sectors, including technology.
The move signals tougher scrutiny over Big Tech, in an effort to thwart practices that the White House and numerous legislators believe hamper competition and consolidate market power.
“Capitalism without competition isn’t capitalism,” said Biden at a signing event on Friday. “It’s exploitation.”
Notably, the mandate cements the powers of the Federal Trade Commission to more deeply probe mergers and acquisitions by large internet platforms — which could muck up the works for Silicon Valley giants such as Facebook, Google, Amazon and Apple, which are prone to buying up emerging competitors.

A White House factsheet on the matter laid out the context: “For decades, corporate consolidation has been accelerating,” it said. “In over 75 percent of U.S. industries, a smaller number of large companies now control more of the business than they did 20 years ago.”
On the labor front, the sheet cites research singling out “industry consolidation” for “decreasing advertised wages by as much as 17 percent. Tens of millions of Americans — including those working in construction and retail — are required to sign non-compete agreements as a condition of getting a job, which makes it harder for them to switch to better-paying options.”

President Biden also aims to limit the use of non-compete agreements as a hiring requirement, a practice that’s standard among tech companies and other sectors. He believes NDAs make it tougher for people to change jobs, curbing their wage potential.
That’s just for starters. The administration also pressed the FTC to set out rules governing data surveillance and collection and, according to the order, institute “right to repair” protections for third-party fixit shops, which are often tightly restricted by the likes of Apple and Microsoft. The administration took the opportunity to address the Federal Communications Commission as well, urging it to restore net neutrality regulations dismantled during the Trump administration. Under net neutrality, internet service providers would be required to treat all data equally.
Other measures encompass a broad array of consumer issues — from permitting over-the-counter sales of hearing aids and reducing the price of prescription drugs to paving the way for more transparent baggage fees.
The totality of the mandates and guidance plants a stake in the ground for the current administration, though it’s not clear how much of the executive order will stand. Objectors in and out of tech are likely already weighing their options to push back against at least some measures. But either way, the order is sweeping in its scope.

VP Kamala Harris’ Choice of Christopher John Rogers Garners Most Media Impact Value

VP Kamala Harris’ Choice of Christopher John Rogers Garners Most Media Impact Value

Vice President Kamala Harris’ outfit for the inauguration ceremony — a Christopher John Rogers purple coat and dress — garnered $8.2 million in Media Impact Value in the first 24 hours, according to a study by Launchmetrics.
Harris’ outfit generated $7 million in online impact and $1.2 million in social media. (Online would be considered websites, media sites and blogs, while social media would include social networks such as  Facebook, Instagram and Twitter.)
Harris, who became the first female and first Black and South Asian vice president in U.S. history, chose the look by the 2020 CFDA American Emerging Designer of the Year, and accessorized it with pearls by Puerto Rican designer Wilfredo Rosado.

Harris’ Sergio Hudson black tuxedo overcoat and dress, which she wore Wednesday night to the inaugural concert, garnered  $7.2 million in in Media Impact Value, consisting of $6.5 million online and $714,000 in social media.
Meanwhile, First Lady Jill Biden’s Markarian custom-made wool tweed coat and dress in ocean blue, garnered $5.8 million in Media Impact Value, which consisted of $4.8 million online and $1 million in social media, according to Launchmetrics. The Markarian outfit was designed by Alexandra O’Neill, a New York-based designer. She accessorized the look with Jimmy Choo nude pumps.

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President Joe Biden’s navy blue Ralph Lauren Purple Label suit, which he wore to the swearing-in ceremony Wednesday, generated $5 million overall in Media Impact Value, which consisted of $4.8 million online and $284,000 in social media.
When Harris wore a Pyer Moss camel coat Tuesday evening to the COVID-19 memorial service, it generated $3.9 million in Media Impact Value, consisting of $2.3 million online and $1.6 million in social media, according to Launchmetrics.
On Tuesday night, Jill Biden’s magenta coat and dress by Jonathan Cohen, a Mexican American designer, which she wore for the COVID-19 memorial service, garnered $2.4 million in Media Impact Value, consisting of $2.1 million online and $226,000 in social media.
Alison Bringé, chief marketing officer of Launchmetrics, believes the clothing choices will especially help propel these emerging designers.
“Christopher John Rogers garnered the most Media Impact Value from the inauguration ceremony not only because all eyes were on Madame Harris as she made history, but in large part due to the greater significance of having chosen a young, Black, gay designer to embody this landmark moment. The brand choice from both Jill Biden and Kamala Harris was a clear demonstration of the fresh perspective they wish to bring in the years to come as they make an America for everyone.
“The opportunity gave a platform to voices who don’t share the same spotlight as other internationally recognized names, propelling them to the center stage overnight,” added Bringé. “To put it in perspective, when Christopher John Rogers showed his spring collection at New York Fashion Week, the brand generated just over $1 million, while yesterday’s events accumulated upward of 8 times that — in less than 24 hours. Pyer Moss also saw a greater Media Impact Value  than compared to the  brands’ [spring 2020] NYFW event. It certainly will help their brand performance in the long term as I think that people will be paying more attention to future collections from here on out.”

The Launchmetrics data was as of 5 p.m. CET and analyzes online and social media between Jan. 19 and 21.

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