Man Who Called Nvidia at $1.10 Says Buy This Now...

In 2004, a man predicted Nvidia's rise. Now, he says a new company, which IPO'd in 2023, could soar like Nvidia. It signed a major deal with Apple for its AI tech in iPhones and iMacs. Could it be the next trillion-dollar company? See why he believes it's among "The Next Magnificent Seven."

Australian PM Slams Meta As Arrogant And Irresponsible, Urges Payment To News Outlets: 'They Should Fulfill The Commitments That They Had Previously Given'

Ananya Gairola
June 29, 2024

Australian Prime Minister Anthony Albanese criticized Meta Platforms Inc. (NASDAQ:META) for its arrogant and irresponsible behavior. The PM has urged the social media giant to continue paying local media organizations for their content.

What Happened: Speaking at a media conference in Melbourne on Saturday, Albanese highlighted the social responsibility of tech giants to keep news on their platforms. He also called on Meta to honor its previous commitments to pay Australian news organizations for their content, reported Bloomberg.

“They have a responsibility to keep news on their platforms,” Albanese said, adding, “The arrogance that's been shown by these international social media companies is not aligned with the social responsibility that they have.”

“They should fulfill the commitments that they had previously given," Albanese stated.

Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.

Why It Matters: The Australian PM’s comments come amid an ongoing dispute between Australia and Meta over paying news outlets for their content. The government is pushing for Meta to continue paying local media organizations under the news media bargaining code, which was introduced in 2021.

Mia Garlick, Meta’s regional policy director, previously stated that the company is considering all options, including banning news on its platforms if the government enforces the news media bargaining code. Under this code, Meta could face fines of up to 10% of its Australian revenue if it fails to engage in payment discussions with news organizations,

In March, Meta announced that it would stop compensating news publishers for their content on Facebook in Australia, France, and Germany.

Check out more of Benzinga's Consumer Tech coverage by following this link.

Read Next: A Day After Shutting Down Tesla Phone Rumors, Elon Musk Says It Is ‘Not Out Of The Question’

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo via Shutterstock.

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