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Great Tech and will be forced to transfer your data to the value of the under the Senate bill

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New bipartisan legislation in the Senate that would force the Big Tech companies to disclose the value of the data of the users.

The bill, which is set to be launched on Monday by the Article. Mark Warner, D-Va., and Josh Hawley, R-Mo., to apply to tech companies, with more than 100 million registered users, and it requires a Facebook, Google, and Amazon are well-known in the types of data they are collecting, how that information is used, and the value of the data at the 90-day deadline.

The law, which is referred to as the Design of the Accounting system to Ensure and Help the Broken Control, and the Regulations of the Act on the protection of personal data (the DASHBOARD), and for the first time by Axios, it would mandate an annual disclosure to the Securities and Exchange Commission (the “total value” of all of the users of the data, as well as information on contracts with third parties for the purpose of data collection, how the revenue is generated from the data of the user, and what action has been taken to ensure that the data is protected.

Major Tech players are reluctant to share the details of their main source of income, which is derived from the data of the user, and there is a wide-ranging debate about how much of each of the user’s data, it is worth the effort. Critics have said it is almost impossible to find out just how much a person of the of the data, it is worth the effort in the digital advertising market is that it is cross platform, which is the online survey will be combined with offline insights, packaged, and sold in an auction.

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“It’s also about trying to grapple with the immense power of these companies,” Warner told the Axios on the site. “I don’t think there was a time in history when, as the businesses grew so fast, had as much penetrating power, and it really is as much as possible to make the kind of impact everything about how we do it, do it, and how we vote and how we think these companies are doing.”

In her most recent report, earnings, Facebook said it earned an average of $6.42 per user in the world, while the figure for the united states and Canada was $ 30.12. The Menlo Park, California, Usa. based company, generated $55 billion in advertising revenue in all by 2018 from the 2.7 billion-monthly-active-users.

The DASHBOARD will Act, and that it would not mandate any kind of payment for their information, it will come on the heels of a bill introduced by Sen. Hawley, last week, that would get rid of the Large-Tech protection against liability under Section 230 of the Communications Decency Act, unless they are to be subject to an external audit of their algorithms, and to demonstrate that the content of the policy to be politically neutral at all times.

“We look forward to continuing our ongoing discussions with the bill’s sponsors,” a Facebook spokesman told Fox News by e-mail to you on Monday.

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The Mark Zuckerberg-led tech giant, which also owns Instagram and WhatsApp, has said that it is concerned with the rules and regulations of the government, as a way to curb the excesses of Big Tech. Nick Clegg, a former deputy prime minister who is now the head of global policy and communications for Facebook, wrote in a Monday op-ed for The Financial Times, is that the technology is not inherently good or bad, has to be reminded of what the company has done to improve the systems surrounding the fake news and malicious content, and highlighted the four areas in which the company has been focused on working with regulatory, privacy, data portability, malicious content, and the election of the debtor.

“I’m not fatalistic,” Clegg wrote in the FT. “By acting quickly and smartly, businesses, and governments in open societies are able to create a template for it on the internet. That’s the spirit in which the tech companies and decision-makers to work from now on. Collectively, we need to determine what kind of internet we want. We need to work together to ensure that we get it.”

The senators ‘ bill comes as a time when the resistance of the Silicon Valley, is to reach a boiling point, with the House lawmakers are in the process of opening their own tests and regulatory requirements for both the Department of Justice and the FTC, are believed to be to have Apple, Facebook, Amazon, and Google, for the first time.

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Google and Amazon declined to comment on the proposed legislation.

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