Microsoft is expected to officially announce Windows 11 at a live event later today.
The first vote on Big Tech regulation has taken place, and two of the six proposed bills have been passed. Microsoft could dodge the regulations.
Warren Buffet has resigned from the Bill and Melinda Gates foundation.
El Salvador’s president said the country’s Bitcoin plan is “bulletproof”.
Here is what is happening in the tech world today:
- Microsoft expected to launch Windows 11 today: After a leak of Windows 11 last week, Microsoft is expected to announce its new operating system at a virtual event today 24 June. The event starts at 17:00 South African time and will be available to watch on Microsoft’s website.
- Big Tech regulation passes first two bills: A total of six bills — aimed at companies like Google, Facebook and Amazon — have been proposed in the US House of Representatives. Yesterday’s first vote saw two of the bills passed, while the rest will be discussed and voted on throughout this week. As reported by Reuters, the first bill will allow a far higher budget for antitrust law enforcement, and the second will make it more expensive for companies to complete mergers. Discussions on the third bill also began yesterday. This bill will enforce platform mobility, allowing users to migrate their information freely between platforms.
- Microsoft could dodge tech regulation: Due to the criteria for companies to fall under the proposed Big Tech bracket, Microsoft could spring free of any regulation. The first criteria is a market cap of $600 billion, which Microsoft easily meets, as two days ago it became only the second company to pass the $2 trillion mark. However, according to Bloomberg, the second criteria is defined by the question: “Are they a critical trading partner? Which means that they control somebody’s ability to access the marketplace”, like Amazon and Facebook with its online stores — and Microsoft does not currently fall under this criteria.
- Warren Buffet resigns from the Gates foundation: Warren Buffet has publicly announced his resignation from the Bill and Melinda Gates Foundation. The 90-year-old businessman will now only be involved with his Berkshire Hathaway holding company, of which he remains the CEO. Buffet stated: “I’m clearly playing in a game that, for me, has moved past the fourth quarter into overtime.”
- El Salvador president believes Bitcoin will work: After the country became the first in the world to announce that it will make Bitcoin a legal tender, El Salvador’s plans were denied support from both the World Bank and the IMF. However, the president still believes that the plan will be executed successfully, and according to Reuters this will be done with the hope of becoming more independent of the US Dollar, which is the country’s official currency. El Salvador adopted the dollar in 2001, and the president stated that whereas the dollar adoption was done for the benefit of the banks, the adoption of Bitcoin will be for the benefit of the people.