• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
NewslettersData Sheet

Australia sparks outrage with particularly harsh social-media restrictions

By
David Meyer
David Meyer
Down Arrow Button Icon
By
David Meyer
David Meyer
Down Arrow Button Icon
December 2, 2024, 6:30 AM ET
Updated December 2, 2024, 6:30 AM ET
Matt Cardy—Getty Images
Add Fortune on Google for similar content.

Good morning. If you’re reading this from the U.K., then you’re more likely to be a Reddit user than an X user.

Recommended Video

That’s according to the British media regulator Ofcom, whose latest survey shows Reddit to be the country’s fastest-growing large social media platform, now used by most online adults in the U.K. X, meanwhile, has been shedding Brits for a couple years.

Other findings include ChatGPT being used by a third of U.K. internet users at least once during the last year…and a measly 18% of over-16s believing that generative AI’s output is reliable. —David Meyer

Want to send thoughts or suggestions to Data Sheet? Drop a line here.

Australian social media restrictions outrage

Photo by Matt Cardy/Getty Images
Matt Cardy—Getty Images

Australia’s lawmakers last week took the drastic step of banning (as of late next year) all social media use by under-16s, parental consent be damned.

The legislative process, which was reportedly the result of a politician’s wife reading Jonathan Haidt’s bestseller The Anxious Generation, took all of one week. Social media companies are unsurprisingly really unhappy with how this all went.

A Meta spokesperson pointed out that the Australian Parliament had admitted a lack of demonstratable, clear links between social media and negative impacts on kids’ mental health, adding: “This demonstrates the lack of evidence underpinning the legislation and suggests this was a predetermined process.”

TikTok and Snap are similarly irked, with one of their big concerns being the fact that nobody knows how this new law is supposed to be enforced when it comes into effect.

Even with milder laws allowing access with parental consent, experience has shown that enforcement is the big issue—it’s tricky to get a mechanism that works while still respecting privacy and other rights.

Musk targets OpenAI transformation

Elon Musk has asked a Californian district court to stop OpenAI doing a bunch of things he doesn’t like.

The tycoon, who co-founded OpenAI nine years ago before leaving after he lost a power struggle with CEO Sam Altman, claims the AI leader is discouraging investors from backing rivals such as his own xAI.

He also alleges that OpenAI “wrongfully obtained competitively sensitive information” through its Microsoft connections, and wants the court to stop OpenAI from doing business with companies in which the defendants have material financial interests.

Those defendants include Altman and president Greg Brockman, as well as Microsoft board member Reid Hoffman and Microsoft VP Dee Templeton, as well as Microsoft itself.

Crucially, Musk wants the court to stop OpenAI’s conversion from non-profit to for-profit.

The Tesla boss sued OpenAI and Altman earlier this year over their abandonment of the firm’s non-profit status, but withdrew the suit in June. Now it’s sort of back, in expanded form.

Canada goes for Google’s jugular

The Canadian antitrust authority has sued Google to “put a decisive end” to what it claims are the company's anticompetitive practices in online advertising—which still represents the majority of parent company Alphabet’s revenues.

“Through a series of calculated decisions, taken over the course of multiple years, Google has excluded competitors and entrenched itself at the center of online advertising,” the Competition Bureau said.

The watchdog wants Google to divest its AdX ad exchange and DFP ad server, plus a fine running as high as 3% of global revenues (so, just north of $9 billion, based on fiscal 2023.)

Google ad VP Dan Taylor responded by insisting that the complaint “ignores the intense competition where ad buyers and sellers have plenty of choice.” The company now has a month and a half to file its official response.

New AI models

Amazon has reportedly developed a new multimodal large language model, which is to say it can handle images and video as well as text.

According to The Information, the “Olympus” AI model will help Amazon avoid over-reliance on Anthropic, the OpenAI rival that it’s been heavily funding.

And with Amazon holding its annual re:Invent AWS conference over this week, Olympus could get its debut imminently.

Meanwhile, the Qwen AI team at China’s Alibaba has produced a new “reasoning” model that will compete against OpenAI’s o1 model.

The team claims that QwQ-32B-Preview outsmarts o1 on some benchmarks, though they also note certain bad habits, like the model suddenly switching languages for no reason. Being Chinese, it also avoids touchy political subjects like the Tiananmen Square massacre.

Meta’s cable plan

Meta wants to wrap the entire world in a new fiber-optic subsea cable, TechCrunch reports.

What’s particularly novel about this plan is that Meta would be the sole owner and sole user of the data pipeline.

The initial budget for the project, which the Facebook and Instagram proprietor will apparently announce next year, would reportedly be $2 billion, with $10 billion being the more likely cost once all is said and done.

Data Sheet’s South African author today is delighted to note that the project is apparently being led by Meta’s operation in that country—which would play host to two interconnection points, as would India.

The U.S. would get two on each coastline. Australia just gets one.

More data

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit. Strings were attached.

Italian watchdog warns publisher GEDI against sharing data with OpenAI. Privacy rules are the sticking point.

Amazon employees are ‘rage-applying’ as its return-to-office mandate looms—experts say that’s exactly what CEO Andy Jassy wants. Is it a sneaky layoff ploy?

Fully autonomous planes could be coming to a flight near you—and that’s not a good thing. Your captain is speaking.

TSMC founder Morris Chang offered top job to Jensen Huang, memoir shows. “I already have a job,” said Nvidia’s CEO.

This is the web version of Fortune Tech, a daily newsletter breaking down the biggest players and stories shaping the future. Sign up to get it delivered free to your inbox.
About the Author
By David Meyer
LinkedIn icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Newsletters

How Home Depot is rebuilding retailing with AI
NewslettersCIO Intelligence
How Home Depot is rebuilding retailing with AI
By John KellJune 24, 2026
15 hours ago
As America turns 250, women’s financial independence remains a work in progress
NewslettersMPW Daily
As America turns 250, women’s financial independence remains a work in progress
By Emma HinchliffeJune 24, 2026
17 hours ago
As mega-funds grab 72% of all capital raised, the gap between VC’s haves and have-nots keeps widening
NewslettersTerm Sheet
As mega-funds grab 72% of all capital raised, the gap between VC’s haves and have-nots keeps widening
By Allie GarfinkleJune 24, 2026
22 hours ago
Business is moving past the tech bro era and learning to value ‘real people, real places’
NewslettersCEO Daily
Business is moving past the tech bro era and learning to value ‘real people, real places’
By Diane BradyJune 24, 2026
23 hours ago
Tencent COO and interactive entertainment group president Ren Yuxin on July 9, 2020 in Shanghai, China. (Photo: Wu Jun/VCG/Getty Images)
NewslettersFortune Tech
Tencent winds down its Japanese game studio investments
By Andrew NuscaJune 24, 2026
23 hours ago
Google DeepMind CEO Demis Hassabis (left) stands on a spiral staircase next to Google DeepMind researcher John Jumper.
NewslettersEye on AI
Defections from Google DeepMind prompt questions about Alphabet’s efforts to stay at the forefront of AI
By Jeremy KahnJune 23, 2026
2 days ago

Most Popular

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
1 day ago
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
1 day ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
17 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
19 hours ago
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
Economy
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
By Tristan BoveJune 24, 2026
14 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.