- Around 4,000 Amazon tech workers signed a petition Tuesday that calls for eight hours of paid time off to be made available for employees to use up until Election Day for voting-related activities, including voting, registering, and volunteering.
- Amazon, which is the second-largest employer in the U.S., does not currently have a companywide policy that offers its over 1.3 million workers paid time off to vote.
- By contrast, companies like Walmart, Facebook, Apple, Uber, Starbucks, and dozens of others offer some sort of paid allotted time for voting.
- Amazon says employees can request time off to vote, but the number of hours and pay it will provide depends on local laws.
- Critics note that while some states require employees to be excused and paid for a few hours if voting conflicts with work schedules, several battleground states, including Florida and Pennsylvania, do not.
Employees Back Petition
Thousands of Amazon tech workers backed a petition Tuesday urging the company to offer employees paid time off to vote on or before Election Day.
Amazon is the second-largest employer in the country, with over 1.3 million U.S. workers, including Whole Foods employees. However, it does not have a companywide policy in place that offers paid time off to participate in federal elections.
For comparison, Walmart, which is the nation’s largest employer, offers up to three paid hours for its employees to vote. Other companies like Facebook, Apple, Uber, Twitter, and Starbucks also provide allotted time for voting. Some companies, like Patagonia, are even closing their doors completely on Election Day, while stores like Best Buy are reducing hours.
Supporters of such policies point out that for many Americans, voting, especially during a pandemic, can mean hours-long lines and other unexpected delays.
Because of this, on Tuesday, more than 4,000 Amazon tech workers added their support to a petition that was created internally that morning by Amazon Employees for Climate Justice.
That group formed in 2018 to put pressure on the company to commit to reducing fossil fuel emissions, but has expanded its focus to speak out against poor working conditions and other issues.
The petition calls for eight hours of paid time off to be made available for employees to use up until Election Day for voting-related activities, including registering to vote and volunteering.
However, on the other side of the issue, Amazon spokeswoman Jaci Anderson said that the company has given employees information on how to register to vote and request time off.
“In all 47 states with in-person voting, employees that lack adequate time before or after their scheduled workday to vote, can request and be provided excused time off,” she explained. “The number of hours and pay provided to employees varies by state in line with local laws.”
It appears that for now, Amazon doesn’t want to make paid time off for voting a company-wide policy and instead will only comply with local laws.
That’s a big deal because, although many states require employees to be excused and paid for a few hours if voting conflicts with work schedules, several battleground states, including Florida and Pennsylvania, do not.
See what others are saying: (NBC News) (CNN) (The New York Times)
UK Now Considering Its Own Digital Currency as China Eases Tone on Bitcoin
- On Monday, the United Kingdom became the latest country to consider a central bank-backed digital currency.
- While that currency isn’t technically a cryptocurrency like Bitcoin and would not remove existing physical cash from the economy, it would allow households to have accounts directly with the country’s central bank.
- China, which is currently conducting trial runs of a central bank digital currency, called Bitcoin an “investment alternative” on Sunday — signaling a noticeable change in tone following the country’s previous crackdowns on the crypto market.
- Though the People’s Bank of China said it will not ease its current crypto restrictions, industry insiders said they are nonetheless watching for any regulatory changes.
UK Considering Its Own Digital Currency
British Finance Minister Rishi Sunak instructed the Bank of England to look into potentially backing a digital currency Monday morning.
According to Sunak, that central bank digital currency (CBDC) — at least colloquially — might eventually be called “Britcoin.”
As Reuters explained, such a currency “would potentially allow businesses and consumers to hold accounts directly with the bank and to sidestep others when making payments, upending the lenders’ role in the financial system.”
A British CBDC would not replace physical cash or existing bank accounts. It also wouldn’t technically be a cryptocurrency, though the concept of CBDCs is inspired by crypto.
The United Kingdom is just the latest country in Europe exploring a CBDC option. For example, Sweden has suggested that it could launch a digital currency by 2026, and the European Union has said it may integrate an electronic euro as soon as 2025.
China Eases Tone on Bitcoin
It’s not just Europe. China may very well be on the cusp of launching its own digital currency. In fact, it’s already given away millions of that currency through trials being conducted in several cities.
That said, China’s end goal is currently a little different than Britain’s. Once live, China aims to have its CBDC replace some of the country’s cash.
On Sunday, China also indicated that it’s beginning to warm up to cryptocurrencies. Despite banning local crypto exchanges in 2017, among other actions, China’s central bank has now referred to Bitcoin as an “investment alternative.”
According to CNBC, industry insiders have taken note of the “progressive” nature of that comment and said they’re watching closely for any regulatory changes made by the bank; however, for now, the bank’s deputy governor said it plans to keep its current crypto restrictions in place.
See what others are saying: (Reuters) (Associated Press) (CNBC)
Robinhood Crypto Trading Crashes Twice as Dogecoin Multiplies in Value, Enraging Users
- Robinhood users found themselves unable to buy or sell cryptocurrency Thursday night, an issue reminiscent of the app’s decision to restrict GameStop trades earlier this year.
- While Robinhood resolved the problem within a matter of hours, it came amid a massive rally on Dogecoin, a cryptocurrency that started out as a joke. The app’s crypto services briefly went down again Friday morning as the rally continued.
- Robinhood has denied that its crypto trading outages were an intentional effort to drive down Dogecoin prices and instead blamed the outages on “unprecedented demand for Robinhood Crypto services.”
- By Friday morning, Dogecoin briefly soared to $0.45, more than 400% of the value it had at the beginning of the week and more than 4,500% of the value it had at the beginning of the year.
Robinhood Crashes Amid Dogecoin Rally
The joke cryptocurrency Dogecoin has surged more than 400% this week alone, but around 10 p.m. EST Thursday night, the free-to-trade app Robinhood tweeted that it was “experiencing issues with crypto trading.” In turn, that caused many of the app’s users to find themselves unable to execute trades.
Dogecoin first began to spike Tuesday ahead of the market debut of the cryptocurrency exchange Coinbase, which raised $86 billion in its first day of trading. That morning, one Dogecoin amounted to about $0.07. By midnight, it had doubled in value. Those gains continued Thursday evening when Dogecoin spiked to around $0.33.
That may not seem like much, but if a person invested $1,000 in Dogecoin when it was selling for around $0.01 at the beginning of the year, by Thursday evening, that person would be sitting on a small fortune of around $33,000 before taxes.
Robinhood Users Angry Yet Again
Many Robinhood users found themselves frustrated when they were unable to sell off their existing dogecoins, especially since the cryptocurrency’s value was rapidly falling.
In fact, within the matter of just over an hour, it had dipped to around $0.25. Using the last example above, that would mean thousands of dollars of missed opportunity.
“Are you going to cover my account?!?” one user asked Robinhood when she found herself unable to sell her dogecoins. “This is a technical error, not my own risk. Ive been trying to execute this transaction for almost two hours! None of my crypto comes up!”
Are you going to cover my account?!? This is a technical error, not my own risk. Ive been trying to execute this transaction for almost two hours!— JT (@JenninNYC) April 16, 2021
None of my crypto comes up! pic.twitter.com/rZ4qoXostn
This is not Robinhood’s only bout with controversy. Earlier this year, the company infamously blocked its users from buying GameStop stock during a frenzy that sent shares from under $20 to nearly $500 at one point; however, Robinhood still allowed users to sell their existing shares — a move that even if it lacked the intention, had the effect of attempting to drive share prices for GameStop down.
Though CEO Vlad Tenev later argued that the company “had no choice” but to restrict buying, Robinhood’s decision nonetheless sparked the ire of its users and even prompted Congressional investigations.
Many Robinhood users were quick to point that out Thursday when they once again found themselves unable to execute trades. Some even accused the company of more nefarious intentions.
Service Restored… Until It Went Down Again
At 11:46 p.m. Thursday night, Robinhood tweeted that crypto trading had been “fully” restored.
“Like others, we were experiencing unprecedented demand for Robinhood Crypto services, which created issues with crypto trading,” the company said. “We’ve resolved the issue and apologize for the inconvenience.
Multiple times since Thursday evening, the company has denied that it intentionally halted crypto trading to affect Dogecoin prices.
“Unprecedented demand for Robinhood Crypto services created temporary issues with crypto trading,” a Robinhood spokesperson told the New York Post Friday. “That’s it, plain and simple.”
On Friday morning, Dogecoin went on to spike at a current 52-week high of $0.45; however, it soon dipped back into the mid- to upper-thirty-cent range, where it remained around 3 p.m. EST.
Meanwhile, amid the surging demand, Robinhood experienced yet another crypto outage around 10:30 a.m. EST Friday. Just before 11 a.m., it said that trading had been restored for most customers.
See what others are saying: (New York Post) (Business Insider) (Coindesk)
Child Safety Advocates Urge Facebook To Scrap Plans for Instagram Kids
- Nearly 100 child safety experts and international organizations sent a letter to Facebook Thursday criticizing its plans to develop an Instagram app for children under 13.
- Facebook claims the app will offer parental controls and is meant to create a safer space for kids, who are often lying about their age to access the normal version of Instagram.
- Still, critics point out that children already on Instagram are unlikely to switch to a kids version. Many also cited concerns about screen time, mental health, and privacy, arguing that younger children are not ready for such a platform.
- U.S. Lawmakers expressed similar concerns earlier this month, saying, “Facebook has an obligation to ensure that any new platforms or projects targeting children put those users’ welfare first, and we are skeptical that Facebook is prepared to fulfill this obligation.”
Instagram for Kids
An international group of 35 organizations and 64 experts, coordinated by the Campaign for a Commercial-Free Childhood, released a letter Thursday urging Facebook to abandon its plans to release an Instagram app for kids under 13-years old.
Plans for Instagram Kids have been public for about a month after Buzzfeed News obtained emails about the app in mid-March. Since then, there have been widespread concerns about how such an app could affect children.
Thursday’s letter argues that a version of Instagram targeting under-13-year-olds raises concerns about privacy, screen time, mental health, self-esteem, and commercial pressure. Stephanie Otway, a spokesperson for Facebook, said the company understands the concerns presented by the Campaign for a Commercial-Free Childhood.
“We agree that any experience we develop must prioritize their safety and privacy, and we will consult with experts in child development, child safety and mental health, and privacy advocates to inform it,” she said.
“The reality is that kids are online. They want to connect with their family and friends, have fun and learn, and we want to help them do that in a way that is safe and age-appropriate. We also want to find practical solutions to the ongoing industry problem of kids lying about their age to access apps,” Otway added, noting the reality of how many children interact with age-gated apps.
Unlikely To Stop Children From Joining Regular Instagram
The idea that children would just switch to Instagram Kids received pushback from the Campaign for a Commercial-Free Childhood. In fact, the group’s executive director, Josh Golin, pointed out that most kids who are currently on Instagram are between 10 and 12-years-old, and they likely wouldn’t migrate over to Instagram Kids because it will be perceived as “babyish and not cool enough.”
”The children this will appeal to will be much younger kids,” Golin explained. “So they are not swapping out an unsafe version of Instagram for a safer version. They are creating new demand from a new audience that’s not ready for any type of Instagram product.”
It’s unknown exactly how the app would work, but it would feature content similar to what is allowed in other age-appropriate apps, such as YouTube Kids. One of the few details given out so far is that Instagram Kids will be ad-free and feature parental control options.
Concerns over Instagram Kids has also come from lawmakers. On April 5th Senators Edward Markey (D-Mass.) and Richard Blumenthal (D-Conn.), alongside Representatives Kathy Castor (D-Fla.) and Lori Trahan (D-Mass.), sent a letter to Facebook CEO Mark Zuckerberg expressing concerns that “children are a uniquely vulnerable population online, and images of kids are highly sensitive data.”
“Facebook has an obligation to ensure that any new platforms or projects targeting children put those users’ welfare first, and we are skeptical that Facebook is prepared to fulfill this obligation.”