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    Big Tech and the Fed

    Some tech companies’ earnings are flagging, in what could be a positive sign for the Federal Reserve.Still big.Noah Berger/Agence France-Presse — Getty ImagesWhat tech earnings say about the economy The long-booming bottom lines of major tech companies are all of a sudden smaller than expected. That might be a good thing. Big Tech sailed through the pandemic with its profits mostly intact. The fact that some firms’ results are now flagging could be a positive sign for the Federal Reserve, which is trying to engineer a slowdown as it fights the nation’s worst bout of inflation in four decades.The big question for investors, and perhaps the Fed, is whether the profits of Apple, Alphabet, Amazon and the other tech giants, along with corporate America in general, have fallen enough.Microsoft and Alphabet, Google’s parent company, kicked off what appears to be a disappointing round of quarterly reports for the U.S.’s largest tech companies yesterday. Meta will release its results this afternoon, with Apple and Amazon rounding out Big Tech’s earnings announcements tomorrow.Microsoft’s profits, while below expectations, were still up. Sales of its signature software products, like Office, rose 13 percent. Its cloud services were up 40 percent. And LinkedIn, the professional social network Microsoft bought in 2016, grew 26 percent from a year ago, continuing to benefit from the tightest job market in decades.Alphabet’s sales rose 13 percent. In another good sign for the economy, the jump was driven by better-than-expected sales in its core Google search engine business, while results were mixed elsewhere. A jump in expenses and an exit from its Russian-related businesses caused profits to slump 14 percent.The results were positive enough for investors. Alphabet’s shares rose nearly 5 percent on the earnings news to $110. Microsoft’s shares jumped $10, or nearly 4 percent, to $262. Executives at both companies said they saw evidence of a weaker economy. “We are not immune to what is happening in the macro broadly,” Satya Nadella, Microsoft’s chief executive, said on a call with analysts. Alphabet’s chief financial officer, Ruth Porat, told analysts that a pullback in spending by some advertisers reflected “uncertainty about a number of factors.”Few are betting that the earnings reports will change the Fed’s approach. Its policymakers are meeting this week, and they are widely expected to continue raising benchmark interest rates. While central bankers “will likely acknowledge a recent weakening in economic momentum, the Fed will likely feel the need to appear resolute in battling inflation until there are clear signs that it is abating,” wrote David Kelly, the chief global strategist of J.P. Morgan Asset Management, in a note to clients earlier this week.HERE’S WHAT’S HAPPENING Kraken, the crypto exchange, is under investigation for possible sanctions violations. The Treasury Department is looking into whether Kraken illegally allowed users in Iran and elsewhere to buy and sell digital tokens. Shares of Coinbase, a larger crypto exchange, plunged yesterday after reports that the S.E.C. was investigating whether it allowed trading in unregistered securities. Cathie Wood’s Ark funds reportedly dumped Coinbase shares yesterday for the first time this year.Antitrust legislation aimed at Big Tech may be off the table for now. Chuck Schumer, the Senate majority leader, told donors at a Capitol Hill fund-raiser yesterday that the American Innovation and Choice Online Act, which he had promised to bring to a vote this summer, lacks the support needed to get it to the Senate floor, Bloomberg reported. The bill’s bipartisan backers have been pressuring Schumer to act fast, before midterm elections that could change the balance of power in Congress.One America News, once a dependable Trump promoter, is struggling to survive. The network is being dropped by major carriers and faces a wave of defamation lawsuits for its outlandish stories about the 2020 election. OAN’s most recent blow is from Verizon, which will stop carrying the network on its Fios television service this week. It is now available to only a few thousand people who subscribe to regional cable providers.Teva Pharmaceuticals reaches a tentative $4.25 billion settlement over opioids. The proposed settlement, which is with some 2,500 local governments, states and tribes, would end thousands of lawsuits against one of the largest producers of the painkillers during the height of the opioid epidemic.Florida’s largest utility secretly funded a website that attacked its critics. Florida Power & Light bankrolled and controlled The Capitolist, a news site aimed at Florida lawmakers, through intermediaries from an Alabama consulting firm, an investigation by The Miami Herald found. The site claimed to be independent, but it advocated rate hikes and legislative favors in efforts that were directed by top executives at the utility.BlackRock downshifts on E.S.G. BlackRock, the world’s largest asset manager, slashed its support for shareholder proposals on environmental and social issues this year, backing only 24 percent of such resolutions in the proxy season that ended in June, down from 43 percent in the previous period. The firm, which has long led the conscious investing movement, said this year’s proposals were “less supportable” and cited new regulatory guidance that opened the door to a broader range of policy-related proposals.The firm has criticized overly “prescriptive” resolutions. In a May memo, BlackRock signaled that Russia’s war in Ukraine was straining global energy supplies and shifting its calculations. “Many climate-related shareholder proposals sought to dictate the pace of companies’ energy transition plans despite continued consumer demand,” wrote the firm’s global head of investment stewardship, Sandy Boss. She noted that shareholders generally supported fewer environmental and social proposals this year as well, voting for 27 percent of resolutions, down from 36 percent in the previous proxy period.Opposition to E.S.G. is mounting. The environmental, social and governance investment push has been labeled “woke capitalism” by critics and is under fire from executives like Tesla’s Elon Musk, major investors like Bill Ackman and Republican politicians. In a speech yesterday, former Vice President Mike Pence, a possible 2024 hopeful, said that big government and big business were together advancing a “pernicious woke agenda.”E.S.G. supporters say critics may have a point. Andrew Behar, C.E.O. of the shareholder advocacy group As You Sow, agrees that many supposed E.S.G. investments don’t reflect true sustainability — with ever more capital directed toward the idea and many funds failing to live up to their promises. Behar argued that more corporate disclosures — which anti-E.S.G. groups oppose — would help to ensure that green investing actually works. He argues that critics also ignore a key financial incentive driving investor interest: knowing and lowering the costs of environmental issues throughout company operations, including risks from changing weather and the transition to more sustainable models. “We don’t have an E.S.G. problem,” Behar told DealBook. “We have a naming problem.”“I quit Starbucks. I had to. I just didn’t feel like that was justifiable. It’s like a small car payment.” — Fontaine Weyman, a 43-year-old songwriter from Charleston, S.C., on changing her coffee habits. Many Americans are dealing with the fastest inflation of their adult lives across a broad range of goods and services.Instagram tries to explain itself Instagram responded yesterday to criticism from some of its most popular users, including Kylie Jenner, about new features that made it more like its top rival, TikTok, the fast-growing video app owned by the Chinese company ByteDance.Adam Mosseri, Instagram’s head, said that it was experimenting with several changes, and that he knew users were unhappy. “It’s not yet good,” he said of some of the tweaks in a video post. He stressed Instagram’s commitment to photos, the app’s original focus, but said, “I’m going to be honest, I do believe that more and more of Instagram is going to become video over time.”Reels, a short-video product, is one of the six main investment priorities at Meta, which owns Facebook and Instagram, according to an internal memo last month from Chris Cox, the company’s chief product officer. Cox said that users had doubled the amount of time they spent on Reels year over year, and that Meta would prioritize boosting ads in Reels “as quickly as possible.” Last week, Instagram announced that almost all videos in the app would be posted as Reels.The changes come as Meta heads into a new phase. Mark Zuckerberg, its founder and chief executive, has cut costs, reshuffled his leadership team and made clear that low-performing employees will be let go, writes The Times’s Mike Isaac. “Realistically, there are probably a bunch of people at the company who shouldn’t be here,” Zuckerberg said on a call late last month. In recent months, profit at Meta has fallen and revenue has slowed as the company has spent lavishly on augmented and virtual reality projects, and as the economic slowdown has hurt its advertising business.The high-profile complaints about Instagram’s revamp started in recent days, when Kylie Jenner, the beauty mogul with 361 million Instagram followers, shared an image on the site that read: “Make Instagram Instagram again. (stop trying to be tiktok i just want to see cute photos of my friends.) Sincerely, everyone.”“PRETTY PLEASE,” Kim Kardashian, Jenner’s half sister and the seventh-most-followed Instagram user, echoed in a later post. Yesterday, Chrissy Teigen, a model and author with 39 million followers, responded to Mosseri in a tweet, saying, “we don’t wanna make videos Adam lol.”Companies have reason to listen when social media stars speak up, writes The Times’s Kalley Huang. In 2018, after Snapchat overhauled its interface, Jenner tweeted: “sooo does anyone else not open Snapchat anymore? Or is it just me….” Within a week, Snap, the app’s parent company, had lost $1.3 billion in market value.THE SPEED READ DealsThe activist investor Elliott Management reportedly has a stake in Paypal and is pushing it to cut costs faster. (WSJ, Bloomberg)Twitter shareholders will be asked to vote on Elon Musk’s potential acquisition in September. (Bloomberg)PolicyThe Senate advanced an industrial policy bill that includes more than $52 billion in subsidies for chip makers building U.S. plants. (NYT)The short seller Carson Block is being sued over a $14 million award from the S.E.C. that raised questions about the agency’s whistle-blower program. (Bloomberg)After Apple launched a “buy now, pay later” service, the top U.S. consumer finance regulator warned Big Tech about undermining competition in the sector. (FT)A federal judge ruled that Uber doesn’t have to offer wheelchair-accessible cars in every city. (The Verge)Best of the restCredit Suisse, which reported larger second-quarter losses than expected, replaced its C.E.O. (FT)Customers are paying billions of dollars in fees for “free” checking. (Bloomberg)The default settings in Apple, Google, Amazon and Microsoft products that you should turn off right away. (NYT)This man sells mud to Major League Baseball. (NYT)“The Case of the $5,000 Springsteen Tickets” (NYT)R.I.P., Choco Taco. (NYT)We’d like your feedback! Please email thoughts and suggestions to dealbook@nytimes.com. More

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    How Conservatives and Progressives Reacted to Musk Buying Twitter

    When Elon Musk reached a deal to buy Twitter on Monday, he promised to return free speech and debate to the platform, saying it was “the bedrock of a functioning democracy.”Whether a less moderated social network will be a good or bad thing has become a top topic of debate on Twitter itself among influencers and politicians from across the political spectrum.On the right, the deal was widely celebrated. Mr. Musk’s ownership, many conservatives tweeted, presaged a new era of free speech — where topics that were previously moderated could now be aired openly.Several members of the far right started testing the limits of a less regulated platform, tweeting criticism of the transgender community, doubting the effectiveness of masks, or claiming that the 2020 election results were fraudulent — topics that had been moderated by labeling or removing the false information or suspending accounts that spread it.“Millions of Americans have been choking back their thoughts and opinions on this platform for YEARS out of fear of being suspended/canceled,” John Rich, a member of the country music duo Big and Rich, said in a tweet that received more than 50,000 likes. “I have a feeling the dam is about to break.”Michael Knowles, a conservative podcaster, repeated on Monday the false claim that “the 2020 presidential election was obviously rigged,” receiving more than 70,000 likes. Representative Andy Barr, a Republican from Kentucky, said that stories about “Hunter Biden’s laptop or evidence that COVID originated in the Wuhan lab” could no longer be censored.And Representative Marjorie Taylor Greene, a Republican of Georgia known for pushing conspiracy theories, asked that several banned accounts — including those of former President Donald J. Trump, the conspiracist podcaster Alex Jones and even her own personal account — be reactivated.“Something is deeply wrong in this country when one person can buy a social media company on a whim for $44 billion while others have to skip meals to keep their kids fed,” said Representative David Cicilline, a Rhode Island Democrat.Justin T. Gellerson for The New York TimesHer sentiment was echoed off the platform among members of the far-right who were banned from Twitter after violating its terms of service. Michael T. Flynn, the former national security adviser for Mr. Trump who is now aligned with the QAnon conspiracy theory, reposted a message on his Telegram account suggesting that Twitter could be used to recruit — or “wake up” — others to their cause.“This is mind blowing,” read the post, which was originally posted by a user, named BioClandestine, who was also banned from Twitter. “The impact of the Twitter buyout is going to be colossal as it pertains to waking normies. It’s already begun.”On the left, much of the conversation was focused on how the deal exemplified the outsize power of billionaires.“Something is deeply wrong in this country when one person can buy a social media company on a whim for $44 billion while others have to skip meals to keep their kids fed,” said Representative David Cicilline, a Rhode Island Democrat who is backing antitrust reforms to target the tech giants, in a tweet. Senator Elizabeth Warren of Massachusetts said Mr. Musk’s purchase was a sign the United States needed to institute a wealth tax.Senator Ron Wyden, an Oregon Democrat, said that “protection of Americans’ privacy must be a condition of any sale.” Former antitrust officials have said they think regulators will look closely at the deal but may struggle to find a cause to block it since Twitter does not compete with Mr. Musk’s other major holdings. More

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    The Business Rules the Trump Administration Is Racing to Finish

    #masthead-section-label, #masthead-bar-one { display: none }The Jobs CrisisCurrent Unemployment RateThe First Six MonthsPermanent LayoffsWhen a $600 Lifeline EndedAdvertisementContinue reading the main storySupported byContinue reading the main storyThe Business Rules the Trump Administration Is Racing to FinishFrom tariffs and trade to the status of Uber drivers, regulators are trying to install new rules or reduce regulations before President-elect Joe Biden takes over.President Trump is rushing to put into effect new economic regulations and executive orders before his term comes to a close.Credit…Erin Schaff/The New York TimesJan. 11, 2021, 3:00 a.m. ETIn the remaining days of his administration, President Trump is rushing to put into effect a raft of new regulations and executive orders that are intended to put his stamp on business, trade and the economy.Previous presidents in their final term have used the period between the election and the inauguration to take last-minute actions to extend and seal their agendas. Some of the changes are clearly aimed at making it harder, at least for a time, for the next administration to pursue its goals.Of course, President-elect Joseph R. Biden Jr. could issue new executive orders to overturn Mr. Trump’s. And Democrats in Congress, who will control the House and the Senate, could use the Congressional Review Act to quickly reverse regulatory actions from as far back as late August.Here are some of the things that Mr. Trump and his appointees have done or are trying to do before Mr. Biden’s inauguration on Jan. 20. — Peter EavisProhibiting Chinese apps and other products. Mr. Trump signed an executive order on Tuesday banning transactions with eight Chinese software applications, including Alipay. It was the latest escalation of the president’s economic war with China. Details and the start of the ban will fall to Mr. Biden, who could decide not to follow through on the idea. Separately, the Trump administration has also banned the import of some cotton from the Xinjiang region, where China has detained vast numbers of people who are members of ethnic minorities and forced them to work in fields and factories. In another move, the administration prohibited several Chinese companies, including the chip maker SMIC and the drone maker DJI, from buying American products. The administration is weighing further restrictions on China in its final days, including adding Alibaba and Tencent to a list of companies with ties to the Chinese military, a designation that would prevent Americans from investing in those businesses. — Ana SwansonDefining gig workers as contractors. The Labor Department on Wednesday released the final version of a rule that could classify millions of workers in industries like construction, cleaning and the gig economy as contractors rather than employees, another step toward endorsing the business practices of companies like Uber and Lyft. — Noam ScheiberTrimming social media’s legal shield. The Trump administration recently filed a petition asking the Federal Communications Commission to narrow its interpretation of a powerful legal shield for social media platforms like Facebook and YouTube. If the commission doesn’t act before Inauguration Day, the matter will land in the desk of whomever Mr. Biden picks to lead the agency. — David McCabeTaking the tech giants to court. The Federal Trade Commission filed an antitrust suit against Facebook in December, two months after the Justice Department sued Google. Mr. Biden’s appointees will have to decide how best to move forward with the cases. — David McCabeAdding new cryptocurrency disclosure requirements. The Treasury Department late last month proposed new reporting requirements that it said were intended to prevent money laundering for certain cryptocurrency transactions. It gave only 15 days — over the holidays — for public comment. Lawmakers and digital currency enthusiasts wrote to the Treasury secretary, Steven Mnuchin, to protest and won a short extension. But opponents of the proposed rule say the process and substance are flawed, arguing that the requirement would hinder innovation, and are likely to challenge it in court. — Ephrat LivniLimiting banks on social and environmental issues. The Office of the Comptroller of the Currency is rushing a proposed rule that would ban banks from not lending to certain kinds of businesses, like those in the fossil fuel industry, on environmental or social grounds. The regulator unveiled the proposal on Nov. 20 and limited the time it would accept comments to six weeks despite the interruptions of the holidays. — Emily FlitterOverhauling rules on banks and underserved communities. The Office of the Comptroller of the Currency is also proposing new guidelines on how banks can measure their activities to get credit for fulfilling their obligations under the Community Reinvestment Act, an anti-redlining law that forces them to do business in poor and minority communities. The agency rewrote some of the rules in May, but other regulators — the Federal Reserve and the Federal Deposit Insurance Corporation — did not sign on. — Emily FlitterInsuring “hot money” deposits. On Dec. 15, the F.D.I.C. expanded the eligibility of brokered deposits for insurance coverage. These deposits are infusions of cash into a bank in exchange for a high interest rate, but are known as “hot money” because the clients can move the deposits from bank to bank for higher returns. Critics say the change could put the insurance fund at risk. F.D.I.C. officials said the new rule was needed to “modernize” the brokered deposits system. — Emily FlitterNarrowing regulatory authority over airlines. The Department of Transportation in December authorized a rule, sought by airlines and travel agents, that limits the department’s authority over the industry by defining what constitutes an unfair and deceptive practice. Consumer groups widely opposed the rule. Airlines argued that the rule would limit regulatory overreach. And the department said the definitions it used were in line with its past practice. — Niraj ChokshiRolling back a light bulb rule. The Department of Energy has moved to block a rule that would phase out incandescent light bulbs, which people and businesses have increasingly been replacing with much more efficient LED and compact fluorescent bulbs. The energy secretary, Dan Brouillette, a former auto industry lobbyist, said in December that the Trump administration did not want to limit consumer choice. The rule had been slated to go into effect on Jan. 1 and was required by a law passed in 2007. — Ivan PennAdvertisementContinue reading the main story More

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    How Parler, a Chosen App of Trump Fans, Became a Test of Free Speech

    #masthead-section-label, #masthead-bar-one { display: none }The Presidential TransitionLatest UpdatesHouse Moves to Remove TrumpHow Impeachment Might WorkBiden Focuses on CrisesCabinet PicksAdvertisementContinue reading the main storySupported byContinue reading the main storyHow Parler, a Chosen App of Trump Fans, Became a Test of Free SpeechThe app has renewed a debate about who holds power over online speech after the tech giants yanked their support for it and left it fighting for survival. Parler was set to go dark on Monday.John Matze, chief executive of the alternative social networking app Parler, has said the app welcomes free speech. Credit…Fox News, via YouTubeJack Nicas and Jan. 10, 2021Updated 10:15 p.m. ETFrom the start, John Matze had positioned Parler as a “free speech” social network where people could mostly say whatever they wanted. It was a bet that had recently paid off big as millions of President Trump’s supporters, fed up with what they deemed censorship on Facebook and Twitter, flocked to Parler instead.On the app, which had become a top download on Apple’s App Store, discussions over politics had ramped up. But so had conspiracy theories that falsely said the election had been stolen from Mr. Trump, with users urging aggressive demonstrations last week when Congress met to certify the election of President-elect Joseph R. Biden Jr.Those calls for violence soon came back to haunt Mr. Matze, 27, a software engineer from Las Vegas and Parler’s chief executive. By Saturday night, Apple and Google had removed Parler from their app stores and Amazon said it would no longer host the site on its computing services, saying it had not sufficiently policed posts that incited violence and crime. As a result, Parler was set to disappear from the web on Monday.That set off a furious effort to keep Parler online. Mr. Matze said on Sunday that he was racing to save the data of Parler’s roughly 15 million users from Amazon’s computers. He was also calling company after company to find one willing to support Parler with hundreds of computer servers.“I believe Amazon, Google, Apple worked together to try and ensure they don’t have competition,” Mr. Matze said on Parler late Saturday. “They will NOT win! We are the worlds last hope for free speech and free information.” He said the app would probably shut down “for up to a week as we rebuild from scratch.”Credit…ScreenshotParler’s plight immediately drew condemnation from those on the right, who compared the big tech companies to authoritarian overlords. Representative Devin Nunes, a California Republican, told Fox News on Sunday that “Republicans have no way to communicate” and asked his followers to text him to stay in touch. Lou Dobbs, the right-wing commentator, wrote on Parler that the app had a strong antitrust case against the tech companies amid such “perilous times.”Parler has now become a test case in a renewed national debate over free speech on the internet and whether tech giants such as Facebook, Google, Apple and Amazon have too much power. That debate has intensified since Mr. Trump was barred from posting on Twitter and Facebook last week after a violent mob, urged on by the president and his social media posts, stormed the Capitol.For years, Facebook and Twitter had defended people’s ability to speak freely on their sites, while Amazon, Apple, Google and others had stayed mostly hands-off with apps like Parler. That allowed misinformation and falsehoods to flow across online networks.A screenshot of Mr. Matze’s Parler profile.Users can choose whom to follow on Parler.Credit…ScreenshotThe tech companies’ actions last week to limit such toxic content with Mr. Trump and Parler have been applauded by liberals and others. But the moves also focused attention on the power of these private enterprises to decide who stays online and who doesn’t. And the timing struck some as politically convenient, with Mr. Biden set to take office on Jan. 20 and Democrats gaining control of Congress.The tech companies’ newly proactive approach also provides grist for Mr. Trump in the waning days of his administration. Even as he faces another potential impeachment, Mr. Trump is expected to try stoking anger at Twitter, Facebook and others this week, potentially as a launchpad for competing with Silicon Valley head on when he leaves the White House. After he was barred from Twitter, Mr. Trump said in a statement that he would “look at the possibilities of building out our own platform in the near future.”Ben Wizner, a lawyer for the American Civil Liberties Union, said it was understandable that no company wanted to be associated with the “repellent speech” that encouraged the breaching of the Capitol. But he said Parler’s situation was troubling.That was because Apple’s and Google’s removal of Parler from their app stores and Amazon’s halting its web hosting went beyond what Twitter or Facebook do when they curtail a user’s account or their posts, he said. “I think we should recognize the importance of neutrality when we’re talking about the infrastructure of the internet,” he said.In earlier statements, Apple, Amazon and Google said that they had warned Parler about the violent posts on its site and that it had not done enough to consistently remove them. The companies said they required sites like Parler to systematically enforce their rules. They declined to comment further on Sunday.Tech companies pulling support for certain websites is not new. In 2018, Gab, another alternative to Facebook and Twitter that is popular among the far right, was forced offline after it lost support from other companies, including PayPal and GoDaddy, because it had hosted anti-Semitic posts by a man who shot and killed 11 people at a Pittsburgh synagogue. Gab later came back online with the help of a Seattle company, Epik, which hosts other far-right websites.Even if Parler goes dark, right-wing personalities like Mr. Nunes who have built followings on the app do not lack other communication channels. Many still have ample followings on Facebook, Twitter and YouTube, which welcome any user who doesn’t violate their rules, which prohibit threatening violence or posting hate speech.Parler was founded in 2018 by Mr. Matze and a fellow programmer, one of several social-media upstarts that aimed to capitalize on the growing anger of Mr. Trump’s supporters with Silicon Valley. But Parler had a significant advantage: money. Rebekah Mercer, one of Mr. Trump’s largest donors, helped bankroll the site. Other investors include Dan Bongino, a former Secret Service agent and Fox News pundit. It plans to eventually make money by selling ads.The app is essentially a Twitter clone. It enables people to broadcast messages — known as “parleys,” not “tweets” — to followers. Users can also comment on and “echo” — not “retweet” — other users’ posts. When signing up for a new account, people are asked to select their favorite color and are urged to choose from a list of conservative voices to follow, including Mr. Nunes, the Fox News host Sean Hannity and the actress Kirstie Alley.These “influencers” dominate the experience on the site. On Sunday, the Parler newsfeed was a stream of their angry “parleys,” railing at Big Tech and pleading with their followers to follow them elsewhere.“Please sign up for my daily newsletter today, before the tech totalitarians ban everything,” wrote Mr. Bongino, who also controls one of Facebook’s most popular pages.Messages on Parler from Mr. Matze.Parler’s list of top personalities.Parler grew slowly until early 2020, when Twitter began labeling Mr. Trump’s tweets as inaccurate and some of his supporters joined Parler in protest. After November’s election, Parler grew even more quickly as Facebook and Twitter clamped down on false claims that the vote had been rigged. So many users signed up that, at times, they overloaded the company’s systems and forced it to pause new registrations.In total, people downloaded Parler’s app more than 10 million times last year, with 80 percent in the United States, according to Sensor Tower, the app data firm.Last Wednesday, Mr. Trump encouraged his supporters to march to the Capitol to pressure lawmakers to overturn his election loss, leading to a rampage that left five people dead. The rally was planned on Facebook, Twitter and elsewhere. On Parler, people posted advice on which streets to take to avoid the police; some posted about carrying guns inside the Capitol.In an interview with The New York Times hours after the mob stormed the Capitol, Mr. Matze said, “I don’t feel responsible for any of this and neither should the platform, considering we’re a neutral town square that just adheres to the law.”But on Friday, Apple and Google told Parler that it needed to more consistently remove posts that encouraged violence. By Saturday, Apple and Google had removed Parler from their app stores, limiting its ability to reach new users on virtually all of the world’s smartphones.“There is no place on our platform for threats of violence and illegal activity,” Apple said in a statement. Google said, “We do require that apps implement robust moderation for egregious content.”Late Saturday, Amazon told Parler that it would need to find a new place to host its site. Amazon said it had sent Parler 98 examples of posts on its site that encouraged violence, but many remained online.“We cannot provide services to a customer that is unable to effectively identify and remove content that encourages or incites violence against others,” Amazon said.Amazon was scheduled to pull its support for Parler just before midnight Sunday on the West Coast. Amazon said it would preserve Parler’s data so it could move it to other computer servers.“It’s devastating,” Mr. Matze told Fox News on Sunday. “And it’s not just these three companies. Every vendor, from text message services to email providers to our lawyers, all ditched us, too, on the same day.” He said he was struggling to find another company to host Parler’s website.But Jeffrey Wernick, Parler’s chief operating officer, said in an interview that the app had heard from several companies that wanted to help. He declined to name them.“What Parler will look like a month from now, I can’t tell you,” he said. “But Parler will not be gone.”AdvertisementContinue reading the main story More

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    Who Is Jeffrey Rosen, Who Will Lead the Justice Dept. for Trump’s Endgame?

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    Electoral College Results

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