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2019年2月4日 星期一

On The Money: Taxing the rich becomes hot debate for 2020 hopefuls | Graham predicts GOP 'war' over border wall | Schumer, Sanders propose bill to limit stock buybacks

 
 
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Happy Monday and welcome back to On The Money. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.

See something I missed? Let me know at slane@thehill.com or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: slane@thehill.com, vneedham@thehill.com, njagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane, @VickofTheHill, @NJagoda and @NivElis.

 

THE BIG DEAL--Taxing the rich becomes hot topic of debate for 2020 hopefuls: A debate over how hard to tax the rich is taking center stage in the early days of the 2020 presidential race.

Likely candidates who are more to the left are leaning heavily on messaging that says wealthy Americans need to be taxed significantly more, and they're backing that up with proposals to make their mark on the issue.

Meanwhile, billionaires who are considering entering the race are pushing back on some of the latest calls to boost taxes on the wealthiest U.S. residents. The Hill's Naomi Jagoda breaks it down here.
 

The proposals:

  • Sen. Elizabeth Warren (D-Mass.), who has announced an exploratory committee for president, rolled out a proposal for an annual wealth tax on households with a net worth above $50 million. Her plan would focus on accumulated wealth, not opposed to income.
  • Sen. Bernie Sanders (I-Vt.), a likely Democratic candidate, introduced legislation on Thursday that would significantly expand the estate tax. His plan would tax the value of estates that exceed $1 billion at a rate of 77 percent, up from 65 percent in his earlier plan.
  • She's too young to run for president, but freshman Rep. Alexandria Ocasio-Cortez (D-N.Y.) sparked a national debate by floating a 70-percent marginal tax rate for individuals with annual income over $10 million.

 

The politics: 

Public opinion polls have found that Democrats, as well as a significant number of independents and Republicans, think the wealthy aren't paying enough in taxes. That's why some Democrats argue that presidential candidates will be rewarded in both the primary and general election if they push for raising taxes on the rich.

"This is one of the few issues that can energize the base and persuade the swings," said Democratic pollster Celinda Lake.

 

The backlash:

But not everyone is a fan of the new proposals. Some of those plans have received public pushback from billionaires who are signaling they might enter the presidential race.

  • Former New York City Mayor Michael Bloomberg, who may run as a Democrat, criticized Warren's proposal, questioning its constitutionality and saying the U.S. "shouldn't be embarrassed" by its capitalist system.
  • And former Starbucks CEO Howard Schultz, who has said he's seriously considering running for president as an independent, called Warren's proposal "ridiculous" in a recent National Public Radio interview. He also told CNBC that Ocasio-Cortez's 70 percent tax rate proposal was a reason why he won't be running for president as a Democrat.

 

 
 

THE HILL EVENT: Join The Hill Events for Boundless: Building a 5G World on Wednesday, Feb. 6th featuring Reps. Yvette Clarke (D-N.Y.) and John Curtis (R-Utah). Editor-in-Chief Bob Cusack and Hill.TV's Jamal Simmons will sit down with our guests for a series of conversations on the impact of 5G on all aspects of society. RSVP here.

 
 

ON TAP TOMORROW

  • The U.S. Chamber of Commerce holds a conference on infrastructure investment, 8 a.m. to 2:30 p.m.

 

LEADING THE DAY

Graham: There could be GOP 'war' over border wall: Sen. Lindsey Graham (R-S.C.) warned on Monday that there could be a "war" among Republicans if President Trump declared a national emergency to build the U.S.-Mexico border wall. 

Graham, speaking in South Carolina, acknowledged that the idea divides Republicans, who he argued should unite behind the president if he ends up circumventing Congress to build the wall.

"It seems to me that he's gonna have to go it alone, but there could be a war within the Republican Party over the wall," Graham said.

"To any Republican who denies the president the ability to act as commander in chief, you're going to create a real problem within the party," Graham said. The Hill's Jordain Carney tells us why.

 

The details

  • Congress has until Feb. 15 to reach a deal on a U.S.-Mexico border wall and prevent a second partial shutdown, which would cover roughly a quarter of the government. 
  • Trump has repeatedly doubted the conference committee's ability to get an agreement with Democrats. Graham echoed him on Monday, saying he was not "very optimistic" about the chances of getting a deal. 
  • The president has panned the talks as a "waste of time" and repeatedly hinted that he could declare an emergency to construct the border wall if Congress misses next week's deadline.

 

Schumer, Sanders to introduce bill limiting stock buybacks, pushing for $15 minimum wage: Sens. Charles Schumer (D-N.Y.) and Bernie Sanders (I-Vt.) are planning to introduce a bill that would prevent corporations from buying back its own stock and push for employees to be paid at least $15 an hour.

In an op-ed written by the two senators published in The New York Times Sunday, the pair argues that "corporate boardrooms have become obsessed with maximizing only shareholder earnings to the detriment of workers."

In an attempt to combat the issue, the two senators will introduce legislation that imposes "preconditions," including the $15 minimum wage, on a company's ability to buy its own shares.

"Our legislation would set minimum requirements for corporate investment in workers and the long-term strength of the company as a precondition for a corporation entering into a share buyback plan. The goal is to curtail the overreliance on buybacks while also incentivizing the productive investment of corporate capital," they wrote. The Hill's Owen Daugherty tells us more.

 

GOOD TO KNOW 

  • Deutsche Bank declined to give President Trump a loan in 2016 after the then-candidate requested funds for his Trump Turnberry golf property in Scotland, The New York Times reported Saturday.
  • Sen. Bernie Sanders (I-Vt.) says Walmart's new paid sick leave policy is not "enough," as he keeps pressure on the retailer over its employment practices.
  • The Chinese government has proposed a massive expansion of access to financial markets for foreign investors, according to Bloomberg News.
  • Senate Democrats introduced legislation on Monday to prevent President Trump from using military and disaster relief funds to construct the U.S.-Mexico border wall should he declare a national emergency.

 

ODDS AND ENDS

  • Mignon Clyburn, a former Democratic commissioner on the Federal Communications Commission (FCC), is advising T-Mobile and Sprint on their proposed $26 billion merger as the two companies seek regulatory approval from her former agency.
  • Op-Ed: Wisconsin State Sen. Patty Schachtner says her state "deserves better than Foxconn's constant waffling."
 
 
 
 
 
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Overnight Energy: Trump taps ex-oil lobbyist Bernhardt to lead Interior | Bernhardt slams Obama officials for agency's ethics issues | Head of major green group steps down

 
 
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TRUMP TAPS BERNHARDT TO BE INTERIOR SECRETARY: President Trump is picking David Bernhardt, a former energy lobbyist, to be the Interior Department's next secretary.

"I am pleased to announce that David Bernhardt, Acting Secretary of the Interior, will be nominated as Secretary of the Interior," Trump tweeted Monday. "David has done a fantastic job from the day he arrived, and we look forward to having his nomination officially confirmed!"

Bernhardt, whose past clients include oil companies and others with business before the Interior Department, will lead an agency that oversees about 500 million acres as well as the energy production on that land.

He became the agency's deputy secretary in 2017 and has led the department on an interim basis since former Secretary Ryan Zinke resigned amid ethics scandals in January. In the weeks since Zinke's departure, Bernhardt has risen to the top of the list as the most likely candidate Trump would choose for the post.

Trump will have to send Bernhardt's nomination to the Senate, where a majority of senators will have to approved him.

"It's a humbling privilege to be nominated to lead a department whose mission I love, to accomplish the balanced, common sense vision of our President," Bernhardt said in a statement Monday.

The department has 70,000 employees in various agencies overseeing federal land, offshore drilling, endangered species and American Indian affairs, among other duties.

As deputy secretary, Bernhardt, a Colorado native, worked hand in hand with Zinke on his oil and gas leasing agenda and took the lead on many others, including the administration's push to drill in Alaska's Arctic National Wildlife Refuge and the rollback of a number of Endangered Species Act regulations.

Green groups criticize pick: Environmental groups immediately denounced Bernhardt's nomination Monday.

"The ethical questions surrounding David Bernhardt and his commitment to pandering to oil, coal, and gas executives make former Interior Secretary Ryan Zinke look like a tree-hugging environmentalist in comparison. And Ryan Zinke was a disaster," Vicky Wyatt, lead climate campaigner for Greenpeace USA, said in a statement.

"We already let Bernhardt do enough damage to our federal lands and waters as deputy secretary --  we have to stop him before he destroys some of this country's best ideas including the Endangered Species Act."

Industry praises pick: The industries Interior regulates have largely been supportive of Bernhardt.

"Bernhardt possesses an impressive depth of experience at the Department and knowledge of Interior issues. His selection as secretary will assure that important energy and conservation policies will not miss a beat in the transition," said Randall Luthi, president of the National Ocean Industries Association, which represents offshore oil and wind companies.

"Bernhardt understands that conservation and enhancement of natural resources can and does occur in conjunction with development of natural resources for energy -- both on and offshore."

What's next: At some point soon, Trump will have to formally send Bernhardt's nomination and accompanying paperwork to the Senate, where the Energy and Natural Resources Committee will hold a hearing and an initial vote.

That panel's leaders, Sens. Lisa Murkowski (R-Alaska) and Joe Manchin (D-W.Va.), both voted to confirm him to the deputy secretary position in 2017. Only three other Democrats -- Sens. Michael Bennet (Colo.), Heidi Heitkamp (N.D.) and Joe Donnelly (Ind.) -- voted for him, and Heitkamp and Donnelly lost reelection last year.

Republicans hold 53 of the Senate's 100 seats, so Bernhardt's confirmation is likely to go through.

More on Trump's Interior pick here.

 

Happy Monday! Welcome to Overnight Energy, The Hill's roundup of the latest energy and environment news.

Please send tips and comments to Timothy Cama, tcama@thehill.com, and Miranda Green, mgreen@thehill.com. Follow us on Twitter: @Timothy_Cama, @mirandacgreen, @thehill.

CLICK HERE to subscribe to our newsletter.

 

BERNHARDT SLAMS OBAMA ADMINISTRATION ON ETHICS: Days before Trump's announcement, Bernhardt blamed the agency's ethical pitfalls on a "mess" inherited by the Obama administration, according to an internal letter obtained by The Hill.

In an internal letter sent to Interior staff Friday, David Bernhardt blamed Obama's former National Park Service director and others for "an avalanche of ethical misconduct" and vowed to turn the agency around by strengthening its ethics program.

Bernhardt does not reference Zinke in the memo.

"Sadly, our organization's ethics challenges were part of a mess that we inherited. The last decade of the Inspector General's reports read like an avalanche of ethical misconduct. No bureau is exempt from criticism," Bernhardt wrote in his letter.

"I personally devoted a tremendous amount of effort to transforming and enhancing the ethics infrastructure throughout our organization," Bernhardt wrote of his time as deputy secretary at Interior.

"It has been badly neglected for far too long."

In the staff memo Bernhardt singles out Jon Jarvis, President Obama's NPS director, who was found to have violated ethics rules according to the Interior's Office of Inspector General in 2016.

Jarvis wrote a book about the national parks and promised to donate any proceeds to the National Park Foundation -- the official non-profit fundraising arm of NPS. However, he failed to seek ethics advice on the matter before promising the donations. He later acknowledged he should have.

"When leaders are not seeking ethics counsel, why should anyone else?" Bernhardt wrote.

Read more on Bernhardt's letter here.

 

GREEN GROUP LEADER STEPPING DOWN: The head of one of the nation's largest environmental groups is resigning after four years at its helm.

The Natural Resources Defense Council said Monday that Rhea Suh, its president since 2015, will leave at the end of June. The group will start looking for a replacement soon.

"It has been an honor to lead NRDC over the past four incredible years," Suh said in a statement.

"Working with colleagues who are dedicated to the organization's mission and to protecting our planet has been deeply inspiring. NRDC's staff, members, online activists, and partners are all focused on the mission of safeguarding the earth so that our children inherit a planet that sustains them in the future."

Alan Horn, chairman of the group's board of trustees, said she's been a very valuable asset.

"Rhea's strategic vision and savvy has been an enormous asset not only to NRDC, but to the global environmental movement," he said. "Under her leadership, NRDC has made its voice heard during critical moments in our country's fight to protect the world's natural resources, public health, and the environment."

Read more.

 

ON TAP TUESDAY:

The Senate Environment and Public Works Committee will meet to vote on Andrew Wheeler's nomination to lead the Environmental Protection Agency, among other matters.

NASEO will kick off its annual Energy Policy Outlook Conference. Speakers will include Rep. Scott Peters (D-Calif.) and Dan Simmons, assistant secretary for energy efficiency and renewable energy.

 

OUTSIDE THE BELTWAY:

Tesla Inc. is buying Maxwell Technologies, a battery technology company, for $218 million, Reuters reports.

More than a third of the Himalayan ice cap is on track to melt by 2100 due to climate change, the Guardian reports.

Oil prices briefly hit their highest level of the year Monday before settling lower, MarketWatch reports.

 

FROM THE HILL'S OPINION SECTION: Dr. Georges Benjamin, executive director of American Public Health Association, labels EPA nominee Andrew Wheeler a public health risk:

 

IN CASE YOU MISSED IT:

Check out stories from Monday and the weekend ...

- New Interior chief nominee calls agency's 'ethics challenges' an 'inherited' mess

- Head of major environmental lobby steps down

- Trump picks ex-oil lobbyist David Bernhardt for Interior secretary

- Oregon bottle recycling rate hits record-high

- Kids in climate lawsuit haven't shown government is responsible, Trump admin says

- NYC lawmaker cites animal cruelty in proposal to ban sale of foie gras

- National Parks struggle with up to $11 million in revenue loss from shutdown

 
 
 
 
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Hillicon Valley: Dems pounce on Trump fight with intel leaders | FBI taps new counterintelligence chief | T-Mobile, Sprint tap former FCC Dem commish to sell merger | Dem bill would crack down on robocalls | Family sues over Uber self-driving fatality

 
 
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Welcome to Hillicon Valley, The Hill's newsletter detailing all you need to know about the tech and cyber news from Capitol Hill to Silicon Valley. If you don't already, be sure to sign up for our newsletter with this LINK.

Welcome! Follow the cyber team, Olivia Beavers (@olivia_beavers) and Jacqueline Thomsen (@jacq_thomsen), and the tech team, Harper Neidig (@hneidig) and Emily Birnbaum (@birnbaum_e).

 

"TRUST US": Democrats are seizing on President Trump's latest feud with his intelligence chiefs to cast themselves as the party that is taking national security more seriously.

Trump called his intelligence leaders "passive and naive" on Friday after reading media reports about their testimony before the Senate Intelligence Committee.

CIA Director Gina Haspel and Director of National Intelligence Dan Coats contradicted or at least differed with Trump on a number of issues, including over the threat from the Islamic State in Iraq and Syria (ISIS), Iran's nuclear activities and Russia. Trump later made up with the officials, who he said told him they had been misquoted by the media.

The episode, which wasn't the first time Trump has clashed with intelligence officials, buttressed Democratic arguments that they should be a check on Trump's use of foreign policy now that they have the majority in the House.

"What I worry about is if the president is going to so obviously and plainly and publicly disavow his own intelligence agencies, then if there is a real crisis who is going to believe the president?" said Rep. Adam Schiff (D-Calif.), chairman of the House Intelligence Committee.

After Trump's comments, Democrats are talking about funding areas of security that they think should be priorities -- and that match up with the remarks from the intelligence officials, including doubts about North Korea's willingness to give up its nuclear arsenal while warning of the continued threat from ISIS.

Not mentioned? The crisis at the border, which Trump has repeatedly painted as a huge national security crisis.

"We can fund where the threats really are, not where he tells us the threats are," Rep. Eric Swalwell (D-Calif.), a member of the House Intelligence Committee, told The Hill.

Read more here.

 
 

THE HILL EVENT: Join The Hill Events for Boundless: Building a 5G World on Wednesday, Feb. 6th featuring Reps. Yvette Clarke (D-N.Y.) and John Curtis (R-Utah). Editor-in-Chief Bob Cusack and Hill.TV's Jamal Simmons will sit down with our guests for a series of conversations on the impact of 5G on all aspects of society. RSVP here.

 
 

FBI SCOOP: John Brown, a special agent in charge of the FBI's San Diego Field Office, has been tapped for the organization's top counterintelligence position.

Brown will replace Bill Priestap, who served as assistant director of the FBI's counterintelligence division, sources familiar with the matter told The Hill.

An FBI official confirmed to The Hill that Brown has been appointed to serve as the assistant director, noting that the bureau has not publicly announced it.

Priestap, who has 20 years of service to the FBI, was the last top official to have a role overseeing investigations into both Hillary Clinton and the Trump campaign.

Brown, an army veteran who joined the FBI as a special agent in 1999, has focused on counterintelligence, counterterrorism and cyber crime cases throughout his career, according to his FBI biography page.

More on Brown here.

 

T-MOBILE-SPRINT ADDS TO MERGER FIREPOWER: Mignon Clyburn, a former Democratic commissioner on the Federal Communications Commission (FCC), is advising T-Mobile and Sprint on their proposed $26 billion merger as the two companies seek regulatory approval from her former agency.

In a phone interview with The Hill, Clyburn said she sees the work as a continuation of her efforts in government to expand internet access to hard-to-reach and overlooked communities.

"I'm advising T-Mobile-Sprint as it seeks to accelerate the creation of an inclusive, nationwide 5G network on how to best to build a bridge across the digital divide that currently exists in our country," she said. "Affordable broadband access for me is a critical priority, particularly for those Americans who are underserved or who currently have no viable options at this time."

Politico first reported the news on Monday.

Many Democrats have come out against the merger, which would reduce the number of major nationwide wireless carriers from four to three. Executives from both companies plan to testify next week before a joint hearing of the House Judiciary and Energy and Commerce committees after Democratic lawmakers had increasingly voiced concern about how the consolidation would affect consumers.

More here.

 

SELF-DRIVING LAWSUIT: The family of a woman who died last year after being hit by a self-driving Uber car has sued the city of Tempe, Ariz., where the woman, Elaine Herzberg, was killed.

The $10 million claim against Tempe accuses the city of creating a dangerous situation by having a median where pedestrians are not supposed to cross, according to USA Today. Herzberg was walking across the street at that spot when she was struck by the Uber vehicle.

The accident was the first incident in the U.S. of a self-driving car hitting a pedestrian and causing a death, according to USA Today.

It was later revealed that the driver in the Uber was watching the show "The Voice" on Hulu at the time of the incident. The vehicle had been placed in self-driving mode.

Following the accident, Uber suspended all of its self-driving car testing on public roads. The company later returned the self-driving cars to the road for testing in Pittsburgh.

More on the lawsuit here.

 

SEASICK: The Russian Navy reportedly has a new weapon that can disrupt the eyesight of targets as well as make them hallucinate and vomit.

Russian state news agency RIA Novosti reported that a Russian military contractor has installed the weapon on two Russian warships.

The weapon fires a beam similar to a strobe light that affects the target's eyesight, making it more difficult for them to aim at night. During testing, volunteers reportedly used rifles and guns to shoot targets that were protected by the weapon. The volunteers reported having trouble aiming because they couldn't see.

Additionally, about half of the volunteers said they felt dizzy, nauseous and disoriented. About 20 percent of the volunteers reported experiencing hallucinations.

The weapon, called the Filin, has reportedly been installed on the Admiral Gorshkov and Admiral Kasatonov, two Russian warships. The weapon is expected to be installed on more ships that are currently being built.

The weapon was developed by Ruselectornics, a Russian state-owned developer of electronics and other technologies.

Read more here

 

#NIELSENWATCH: Homeland Security Secretary Kirstjen Nielsen will testify before a congressional committee early next month.

Rep. Mike Rogers (R-Ala.), the ranking member of the House Homeland Security Committee, said in a statement that Nielsen will appear before the committee on March 6.

The announcement comes after the committee's chairman, Rep. Bennie Thompson (D-Miss.), was highly critical of Nielsen for not agreeing to testify before the committee earlier and floated the idea of issuing a subpoena for her appearance.

"The administration's plans about the future of border security are vitally important and the American public deserves to hear about these plans from Secretary Nielsen herself," Rogers said in a statement Monday.

"Chairman Thompson's decision to cooperate with Secretary Nielsen to find a time for her to testify was the right one and is consistent with the committee's constitutional mandate to conduct oversight over [the Department of Homeland Security]," he continued.

Thompson later confirmed the secretary's appearance in a statement to The Hill, saying that the committee is "giving the secretary ample time to prepare for this appearance." 

Read more here.

 

ROPING IN ROBOCALLS: Rep. Frank Pallone Jr. (D-N.J.) on Monday reintroduced a bill cracking down on "abusive" robocall practices, reviving the efforts from the last Congress to protect Americans from an increasing deluge of automated calls.

Pallone, the chairman of the House Energy and Commerce Committee, is reviving the Stopping Bad Robocalls Act, which would give the Federal Communications Commission (FCC) increased authority to combat robocalls. Pallone in a statement pointed to reports that 26.3 billion robocalls were placed in the U.S. in 2018, a 46 percent increase from the year before.

"Americans are fed up with robocalls," Pallone said in the statement. "It is incredibly annoying to repeatedly get unwanted calls from people you don't know and don't want to talk to. Despite previous efforts like the Do Not Call Registry, robocalls are still on the rise."

The bill would allow consumers to opt out of robocalls at any point, ban more kinds of robocalls, require all calls to have caller ID information before they can be put through and lengthen the statute of limitations from one to four years when it comes to punishing those who violate robocall prohibitions.

Sens. John Thune (R-S.D.) and Ed Markey (D-Mass.) at the end of 2018 introduced the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act, which would levy a hefty fine on illegal robocalls and try to prevent them from reaching consumers in the first place. The TRACED Act was referred to the Senate Commerce Committee in January.

"The robocalls problem is out of control and, without action from Congress, will only get worse," Margot Saunders, senior counsel at the National Consumer Law Center, said in a statement shared by Pallone's office.

Read more on the proposed crackdown here.

 

FCC SHOWDOWN: House Democrats are asking the Federal Communications Commission (FCC) for documentation about its operations as they prepare to challenge the agency with their newfound oversight powers.

Rep. Frank Pallone Jr. (D-N.J.), the chairman of the House Energy and Commerce Committee, and Rep. Mike Doyle (D-Pa.), who leads the panel's subcommittee on technology, sent a letter on Monday to FCC Chairman Ajit Pai with extensive requests for documents about the agency's efforts during the Trump administration.

Frustrated by House Republicans' unwillingness to challenge the FCC over the past two years, Pallone and Doyle have vowed to hold the agency accountable and confront its leadership over issues like its repeal of the popular 2015 net neutrality rules.

"Under your leadership, the FCC has failed repeatedly to act in the public interest and placed the interest of corporations over consumers," the two Democrats wrote in their letter to Pai.

Read more here.

 

SENSITIVITY SCREENS: Instagram this week will launch "sensitivity screens" to blur out images of self-harm posted to the platform, a move that comes a month after a British family claimed their daughter killed herself after viewing images of self-harm on Instagram and Pinterest.

The father of Molly Russell, a 14-year-old British girl who killed herself in January, told multiple media outlets including The Sun that he blamed Instagram in part for her death. He told The Sun that her social media platforms were full of graphic images of cutting and self-harm.

Instagram's head of product Adam Mosseri in an op-ed for The Telegraph wrote that Russell's death spurred the company last week to launch an internal review of its ability to protect young people from harmful images.

"We are not yet where we need to be on the issues of suicide and self-harm," Mosseri wrote, following sharp criticism in the U.K., including by the British health secretary, over Russell's death. 

Some critics have pointed out that Instagram's algorithms guide users through related images and accounts – so if users "like" or interact with one post displaying suicidal or violent content, Instagram will guide them to others.

Mosseri said this is one of the challenges a team of "engineers and trained content reviewers" are working to address.

"We have engineers and trained content reviewers working around the clock to make it harder for people to find self-harm images," Mosseri wrote. "We have put in place measures to stop recommending related images, hashtags, accounts, and typeahead suggestions."

He then pointed to the "sensitivity screens" as an example of Instagram's efforts to weed out triggering content. The "sensitivity screens" will block posts reviewed by Instagram that contain cutting self-harm imagery.

Instagram did not respond to The Hill's request for more information on how the self-harm images will be flagged as requiring a "sensitivity screen."

More here.

 

SLACK GOING PUBLIC: Messaging company Slack Technologies Inc. announced Monday that it has confidentially filed documents with the Securities and Exchange Commission (SEC) to go public.

The workplace communication giant, founded in 2013, was valued at $7 billion last year and now has more than 10 million daily active users.

PitchBook estimates that the company has raised roughly $1.2 billion in capital, and Reuters reported Monday that Slack is aiming for a valuation in excess of $10 billion in the listing.

Airbnb, Lyft and Uber are also expected to go public this year.

It is unclear if Slack's application will be approved by the SEC before Feb. 15, when current funding for the agency is slated to expire.

Read more here.

 

A LIGHTER CLICK: One of our favorite Instant Pot recipes.

 

NOTABLE LINKS FROM AROUND THE WEB:

How Silicon Valley puts the 'con' in consent. (The New York Times)

Verizon Super Bowl ad honors first responders after wildfire throttling scandal. (The Verge) 

Crypto exchange says it can't repay $190 million to clients after founder dies with only password. (Gizmodo)

Huawei sting offers rare glimpse of the U.S. targeting a Chinese giant. (Bloomberg)

 
 
 
 
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