Showing posts with label ENCRYPTION. Show all posts
Showing posts with label ENCRYPTION. Show all posts

Monday, 30 April 2018

By leaving Facebook to play Frisbee, WhatsApp co-founder to lose $1 billion

Twin Design / Shutterstock.com

Jan Koum’s exit from Facebook Inc. could prove costly. A speedy departure may prevent him from collecting as much as $1 billion in stock awards.

The chief executive officer of messaging unit WhatsApp confirmed in a Facebook post-Monday afternoon that he was leaving the company. The announcement comes before the final three vesting dates of restricted stock unit awards tied to Facebook’s $22 billion purchase of WhatsApp in 2014.

Koum, 42, got about 24.9 million restricted shares as part of the deal. The stock vests in increments until late 2018, with 1.9 million shares due to vest in mid-May and mid-August, plus a final tranche of 2.1 million set to be issued in November.

The awards are contingent on him still being employed through those dates. He would forfeit 5.8 million shares, worth $997.5 million as of Monday’s close, if he left before May 15, unless his exit is categorized as an involuntary termination or a good-reason resignation, regulatory filings show.

Facebook trying to weaken WhatsApp privacy? Co-founder Jan Koum quits

WhatsApp

The co-founder of WhatsApp, a messaging service owned by Facebook Inc with more than 1 billion daily users, said on Monday he was leaving the company, in a loss of one of the strongest advocates for privacy inside Facebook.

Jan Koum's plan to exit comes after clashing with the parent company over WhatApp's strategy and Facebook's attempts to use its personal data and weaken its encryption, the Washington Post earlier reported, citing people familiar with the internal discussions.

"It's been almost a decade since Brian and I started WhatsApp, and it's been an amazing journey with some of the best people," Koum, WhatsApp's chief executive, said in a post on his Facebook page referring to co-founder Brian Acton.

"But it is time for me to move on." He did not give a date for his departure and could not immediately be reached for comment.

Acton left the messaging service company in September to start a foundation, after spending eight years with WhatsApp.

Thursday, 15 June 2017

China censors entertainment news outlets, cites 'socialist values'

China, flag,

Major social media platform operators including Weibo, WeChat, Youku, Baidu and Netease shut down a large number of social media entertainment news outlets after a June 7 meeting with Beijing's Office of Cyberspace Affairs.

The crackdown has been justified under China's newly implemented Cybersecurity Law, which emphasises ideological control as a core component of maintaining state security.

More than 60 outlets have been shuttered in less than a week, some of which are commercial news outlets funded by private capital investments, while others are entertainment sections of newspapers such as “Entertainment weekly of Southern Metropolis”. Other examples include “Care about gossip association”, which has a market value of up to RMB 100 million (approximately US $15 million) and “Movie Lambaste” with a market value of up to RMB 300 millions (approximately US $40 million dollars).

According to a report from state-run Xinhua news, Beijing's Office of Cyberspace Affairs cited China's Cybersecurity Law, enacted on June 1 2017, as impetus for the crackdown. They implored content platform operators to enforce the law:

Individuals and organisations cannot infringe on other people’s reputation, privacy, intellectual properties and other rights using the Internet. Operators should reinforce the management of their users and the distribution of user content. Once [the operators] find that information has violated related laws and administrative rules, they have to stop transmitting the information, eliminate the sources and prevent the information from spreading. The record should be preserved and reported back to the authorities.

China’s Cybersecurity Law went into effect despite deep concerns about the powers that it gives to law enforcement to obtain sensitive information, including encryption keys, from network operators. The law has also triggered major concerns among foreign companies, over its requirement that local data be stored within China.
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