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US Seeks to Counter China's Mineral Dominance; Tech Companies Face Scrutiny Over Mergers and Layoffs
Washington D.C. – The United States is spearheading an initiative to establish a trade zone for critical minerals, aiming to challenge China's current dominance in the industry. This effort coincides with increased scrutiny of tech industry mergers and workforce reductions, as highlighted by recent events involving Netflix, Warner Bros. Discovery, and Pinterest.
On Wednesday, the State Department hosted the inaugural Critical Minerals Ministerial event, drawing participation from countries and organizations including the UK, the European Union, Japan, India, South Korea, Australia, and the Democratic Republic of Congo. Discussions centered on the availability of and access to minerals essential for manufacturing a wide range of products, from smartphones to weapons, according to the BBC.
Meanwhile, Netflix and Warner Bros. Discovery faced a skeptical US Senate antitrust subcommittee on Tuesday regarding their proposed $82 billion merger. Lawmakers from both Democratic and Republican parties voiced concerns about potential reduced competition, price increases, and the impact on cinemas should the deal proceed, reported BBC Technology. The Department of Justice is currently reviewing the proposed merger.
In other tech news, Pinterest recently terminated the employment of two engineers for tracking which employees were affected by recent layoffs. The company, according to Reuters, had announced job cuts impacting approximately 15% of its workforce, or about 700 roles, as part of a move to focus on an "AI-forward approach," according to an employee posting on LinkedIn. The engineers reportedly used custom scripts to improperly access confidential company information to identify the locations and names of dismissed employees.
The developments come as Palantir CTO Shyam Sankar argued that artificial intelligence could empower workers by dismantling corporate bureaucracy. In an interview with Fox News Digital, Sankar suggested AI could reverse the "managerial revolution" of the past century, which he believes shifted power from workers to management. "AI can eliminate bureaucracy because we've built up all these layers... to concentrate power essentially in the hands of a few bureaucrats running organizations," Sankar stated.
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