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Jon Keegan

Zuckerberg: Meta was pressured to censor COVID-19 misinformation

Regrets, Mark Zuckerberg has a few.

In a letter to Rep. Jim Jordan, the Republican Chairman of the House Judiciary Committee, Zuckerberg said that Meta was repeatedly pressured by the Biden administration to “censor certain COVID-19 content, including humor and satire,” and that even though his company was free to decide how to handle the requests, he thought the government pressure was wrong, and that he regrets not speaking up about it at the time.

“I feel strongly that we should not compromise our content standards due to pressure from any Administration in either direction - and we’re ready to push back if something like this happens again,” wrote Zuckerberg.

The company has become more cautious about content moderation policies that can be seen as partisan, which is what prompted Jim Jordan’s investigation. It is rare to see Zuckerberg openly criticizing the lame duck Biden administration, but as we race toward an extremely tight election, the company may be making a political calculation.

Zuckerberg also noted that the Chan Zuckerberg Initiative will not be spending $400 million to facilitate local elections like it did in 2020, to avoid the appearance of being partisan.

Zuckerberg wrote, “My goal is to be neutral and not play a role one way or another - or to even appear to be playing a role.”

“I feel strongly that we should not compromise our content standards due to pressure from any Administration in either direction - and we’re ready to push back if something like this happens again,” wrote Zuckerberg.

The company has become more cautious about content moderation policies that can be seen as partisan, which is what prompted Jim Jordan’s investigation. It is rare to see Zuckerberg openly criticizing the lame duck Biden administration, but as we race toward an extremely tight election, the company may be making a political calculation.

Zuckerberg also noted that the Chan Zuckerberg Initiative will not be spending $400 million to facilitate local elections like it did in 2020, to avoid the appearance of being partisan.

Zuckerberg wrote, “My goal is to be neutral and not play a role one way or another - or to even appear to be playing a role.”

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OK, so when was the longest shutdown in US history?

The US government officially shut down at 12:01 a.m. on Wednesday after senators failed to agree on a last-minute funding bill. Though initially shrugging off the threat of a shutdown during yesterday’s session, stocks were mildly in the red on Wednesday as investors reacted to what is now the 11th shutdown in the government’s history.

Until this latest shutdown, there had been 20 government funding gaps experienced since 1976 — though not all ended in a full shutdown, with full closure averted in half of those cases.

Indeed, prior to the 1980s, funding gaps didn’t typically have major effects on government operations, with agencies continuing to operate on the basis that the funding would come eventually. However, a more stringent interpretation of the rules led to a stricter appropriations process from the early 1980s onward, with many subsequent funding gaps resulting in a shutdown of affected agencies (unless the gaps were quickly fixed or occurred over a weekend).

Obviously, the duration of the latest shutdown is still unclear, but it will continue until Congress passes a funding bill — most likely via a “continuing resolution,” which has ended every shutdown since 1990. Data analyzed by USAFacts suggest that it might not be a one- or two-day affair, as funding gaps have lengthened in recent years.

Government shutdown patterns
Sherwood News

Indeed, the last shutdown, which began in December 2018, ended up becoming the longest in history, at a whopping 34 days. By the time the government reopened in January 2019, about $3 billion (in 2019 dollars) had been wiped from the GDP in Q4, per data from the Congressional Budget Office, with approximately $18 billion in “federal discretionary spending” delayed over the roughly five-week stretch.

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GM climbs following upgrade, report that Trump administration seeks stake in its lithium mine partner

Shares of General Motors rose more than 2% in premarket trading Wednesday following an upgrade of the stock by UBS from neutral to buy. The firm also hiked its price target for GM by 45% to $81.

Also likely elevating GM was a Reuters report that the Trump administration is exploring taking a 10% stake in Lithium Americas, the automaker’s partner in a yet to open Thacker Pass lithium mine. Shares of Lithium Americas surged 68% in the premarket.

GM, which invested $625 million into the lithium mine last year, holds a 38% stake in the joint venture. The mine is expected to become the Western Hemispheres primary lithium source in 2028, when it’s slated to open, producing enough of the metal to make 800,000 electric vehicle batteries.

Prior to its plans for Lithium Americas, the Trump administration last month said it would take a 10% stake in Intel. In July, it announced a 15% stake in rare earths miner MP Materials.

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