The toymaker cited a study it commissioned, which found that girls are confident engaging in all types of play and creative activities but are “held back by society’s ingrained gender stereotypes as they grow older.“
Lego Vow To Free Its Products of Harmful Stereotypes
Lego — the world’s largest toymaker — has promised to make its products and marketing “free of gender bias and harmful stereotypes.”
The Danish toymaker made its announcement Monday to coincide with the United Nation’s International Day of the Girl.
The decision came after Lego commission a study, conducted by the Geena Davis Insitute, which found that girls are hindered by “unequal and restrictive” attitudes towards creativity and play.
Lego said the research “reveals that girls today feel increasingly confident to engage in all types of play and creative activities, but remain held back by society’s ingrained gender stereotypes as they grow older.“
That study interviewed nearly 7,000 parents and children ages 6-14 in seven different countries about their views on careers, extracurricular activities, and toys.
It found that 76% of parents would encourage their sons to play with Legos while just 24% would do so with their daughters. It also said parents were almost five times more likely to encourage girls over boys to dance (81% vs. 19%) and play dress-up (83% vs. 17%), and over three times more to do so when it came to cooking and baking (80% vs. 20%).
Meanwhile, parents were far more likely to encourage boys to engage in program games (80% vs. 20%), partake in sports (76% vs. 24%), or play with coding toys (71% vs. 29%).
Researchers even found that most parents imagined a man when asked to think about various professions — regardless of whether they had a daughter or not. For example, parents were almost six times as likely to think of scientists and athletes as men than women, and over eight times as likely to think of engineers as men.
Lego said the results of the study highlighted “the need for society to rebuild perceptions, actions and words to support the creative empowerment of all children.”
“At the LEGO Group we know we have a role to play in putting this right, and this campaign is one of several initiatives we are putting in place to raise awareness of the issue and ensure we make LEGO play as inclusive as possible. All children should be able to reach their true creative potential,” said Julia Goldin, CMO LEGO Group.
Support for Gender-Neutral Toy Marketing Grows
Lego’s announcement has earned a ton of praise and triggered calls for brands to follows its lead. It also furthered conversations about gender-neutral marketing for toys since it came days after California Gov. Gavin Newsom (D) signed a bill forcing large retailers to have gender-neutral toy sections.
The bill’s approval makes California the first state to adopt such a law, though retailers like Target have moved away from gender labels on toy aisles since 2015.
The law, which takes effect in 2024, applies to retailers with 500 or more workers. Stores that fail to comply will face a civil penalty of $250 for a first violation and $500 for any subsequent violations.
According to the bill, a retailer can still offer separate sections for girls and boys but must provide a “reasonable selection of the items and toys for children that it sells” in a non-gendered section.
Along with cracking down on gender stereotypes, proponents said the bill will help buyers compare products since items targeting males are often priced lower. The Consumer Federation of California, for instance, supported the law and said that separating products by gender “helps to disguise the unfortunate fact that female products are often priced higher than male products.”
Critics, however, argue that the bill infringes on business owners’ freedom to market their products and organize their stores as they see fit.
See what others are saying: (NBC)(CNN)(The Washington Post)
NFL Reaches Agreement to End Race-Norming, New Testing Formula Remains Unclear
The practice, which was adopted by the league in the ’90s, assumes that Black players operate with a lower cognitive function than players of other races.
NFL Ends Race-Norming
The U.S. District Court of Philadelphia uploaded a confidential proposed settlement between the NFL and former players on Wednesday that confirms the league’s plans to abolish race norming.
The NFL previously halted the use of race-norming in June as part of a$1 billion settlement with retirees Kevin Henry and Najeh Davenport, but details of the deal weren’t supposed to be released until it underwent review from a federal judge.
In fact, it currently seems as if someone in the court accidentally uploaded the document, as it was deleted hours later.
Among the details reaped from the settlement, it was revealed that the league plans to modify cognitive tests over the next year as part of a short-term change regarding how it verifies dementia-related brain injury claims. Previously, it used race-norming — the practice of assuming Black players have a lower cognitive function than players of other races — to test whether retirees seeking financial compensation had sustained brain injuries from the sport.
Black retirees who were denied access to compensation originally will also have their tests automatically re-evaluated over the course of the next year, if the settlement pushes through.
The NFL has additionally agreed to develop a long-term replacement system with the help of experts and players’ lawyers.
Still, the exact formula behind these new testing metrics, which will be designed as race-neutral per the agreement, is unknown. For example, retirees don’t know how the new changes will affect their scores or if they might potentially need to take additional tests before becoming eligible for compensation.
The Issue With Race-Norming
Race-norming was first adopted by the league back in the ’90s, and in theory, it was meant to help offer better treatment to Black retirees who had developed dementia from brain injuries related to football.
Essentially, the thought process was to take socioeconomic factors into account since Black people come from disadvantaged communities at higher rates; however, that quickly became a major issue since Black players were held to a higher standard of proof than players of other races.
For example, since the tests assumed Black people have less cognitive skill, Black retirees seeking claims needed to score lower to be granted compensation. That then led to many having their claims denied because they tested too high — even if they would have tested within the range to receive compensation had they been white.
See what others are saying: (Associated Press) (The Washington Post) (ABC News)
Facebook Plans Name Change as Part of Rebrand
News of the alleged rebrand came the same day Facebook was fined nearly $70 million for breaching U.K. orders related to the company’s 2020 acquisition of Giphy, as well as the same day it reached a $14 million discrimination settlement with the U.S. Justice Department.
Facebook Allegedly Plans To Debut New Name
Facebook, Inc. is planning to announce a new company name next week, according to a Tuesday report from The Verge.
The rebrand would reportedly align with CEO Mark Zuckerberg’s vision to shape the company into a full-fledged “metaverse” — AKA a virtual reality space where users can interact with one another in real-time.
The new name is currently unknown, but it would likely not affect the social media platform Facebook. Instead, the change would target its parent company, Facebook, Inc. — similar to how Alphabet became the parent company of Google following a 2015 restructure.
On Monday, Facebook said it is currently planning to hire 10,000 people in the European Union to help make its metaverse goal a reality.
Still, plans for the metaverse have not gone uncriticized, especially given the recent weeks of increased scrutiny regarding Facebook’s dominance over people’s daily lives. “Metaverse” was first coined in 1992 by American author Neal Stephenson in his novel “Snow Crash,” which depicts a corporate-owned virtual world.
Twitter CEO Jack Dorsey even cited one user who referenced the novel, agreeing that Stephenson was right in his prediction of “a dystopian corporate dictatorship.”
Facebook To Pay Fine and Settlement
Also on Tuesday, regulators in the United Kingdom fined Facebook nearly $70 million for breaching orders related to its 2020 acquisition of Giphy.
While that’s only a fraction of the $400 million it paid to purchase Giphy, UK regulators warned that they could eventually order Facebook to sell off Giphy if they find proof the acquisition has damaged competition.
In the U.S., the Justice Department said the same day that Facebook has agreed to pay up to $14.25 million to settle discrimination allegations brought by the agency under the Trump administration.
In December, the department accused the company of favoring foreign workers with temporary work visas over what it described as thousands of qualified U.S. workers.
“Facebook is not above the law and must comply with our nation’s federal civil rights laws, which prohibit discriminatory recruitment and hiring practices,” Kristen Clarke, an assistant attorney general at the department, said.
Notably, this settlement is the largest ever collected by the department’s Civil Rights Division.
See what others are saying: (The Verge) (Engadget) (The New York Times)
SEC Releases Long-Awaited Report on January Memestock Frenzy, Pokes Hole in “Short Squeeze” Narrative
Among other findings, the SEC said hedge funds weren’t broadly damaged by January’s unprecedented trading event.
SEC Publishes Findings
The Securities and Exchange Commission released a long-awaited, 44-page report on Monday detailing its findings regarding this year’s “Memestock Frenzy,” which involved companies such as GameStop and AMC.
During the frenzy in late January, the share prices of those companies soared exponentially. According to one of the key narratives of the situation, smaller investors piled onto GameStop as a way to directly attack hedge funds that were actively betting against GameStop’s success and future. As CNBC reported at the time, those “hedge funds and other players had to rush in to cover their bets against the stock.”
What followed were reports that hedge funds had lost billions of dollars all at once. In fact, one notable hedge fund, Melvin Capital, received what many described as a nearly $3 billion bailout. Meanwhile, in June, it was reported that the London-based White Square Capital had shut down its main fund due to the losses it suffered in January.
However, now, the SEC has said there is no real evidence to support some of the key pillars of this narrative, including that hedge funds were substantially hurt in the long run.
“Staff believes that hedge funds broadly were not significantly affected by investments in GME and other meme stocks,” the agency said in its report. “Staff did not observe that any advisers to private funds and registered funds experienced liquidity issues or difficulties with counterparties.”
On the whole, hedge funds even saw a 1.2% increase in profits in January, according to data from the HFRI Fund Weighted Composite index.
The agency also noted that GameStop purchases to cover bets were just “a small fraction of overall buy volume,” adding that “GME share prices continued to be high after the direct effects of covering short positions would have waned.”
“The underlying motivation of such buy volume cannot be determined,” the agency concluded. “Perhaps it was motivated by the desire to maintain a short squeeze. Whether driven by [that] desire… or by belief in the fundamentals of GameStop, it was the positive sentiment, not the buying-to-cover, that sustained the weeks-long price appreciation of GameStop stock.”
SEC Not Currently Issuing Any Recommendation
The agency did not offer any policy recommendations with this report, though it did stress that a number of small-time investors who either initially bet against GameStop’s success or tried to ride the wave of gains saw significant losses.
Given that the number of investors trading GameStop rapidly jumped from 10,000 at the beginning of January to 900,000 by the end of the month, it’s not surprising that the FTC confirmed heavy losses for many.
With that in mind, the SEC aligned its next focus on commission-free trading apps and the way in which they promote potentially excessive trading. Notably, that includes apps such as Robinhood and Webull, both of which faced controversy during the frenzy for severely restricting users’ ability to trade so-called memestocks.
“Consideration should be given to whether game-like features and celebratory animations that are likely intended to create positive feedback from trading lead investors to trade more than they would otherwise,” the SEC said in its report.
SEC Chair Gary Gensler said Tuesday that by April, the agency could propose rules limiting how those apps make money from each trade, which is known as “payment for order flow.”