Google Cloud CEO Thomas Kurian told staff that the company received confirmation from the U.S. Customs and Border Patrol that its technology will not be used for immigration enforcement at the U.S.-Mexico border, including for a “virtual wall,” CNBC’s Jennifer Elias reports. Kurian spoke to employees in an all-hands meeting for the Cloud group known as The Weather Report, where he responded to a question from workers about a recent government contract, which The Intercept said was for Google’s AI technology to potentially be used in conjunction with tech from Anduril, which is working on technology for such a “virtual wall,” Elias notes. “As we have stated in the past, we are not working on any projects associated with immigration enforcement at the southern border,” Kurian said. Source: https://www.cnbc.com/2020/10/30/google-cloud-ceo-kurian-to-employees-not-working-on-border-wall.html
U.S. Judge Amit Mehta said that Google will have to tell a district court how it plans to respond to a federal antitrust lawsuit by the middle of next month, with the two sides making initial disclosures later in November, Reuters’ Diane Bartz, David Shepardson, and Paresh Dave report. The U.S. Justice Department sued the Alphabet unit on October 20, accusing the company of illegally using its market power to hobble competitors, the authors note. Following some verbal sparring between lawyers for the government and the company in a status conference, Judge Mehta said that the two sides should make initial disclosures about possible witnesses and evidence that may be used at trial by November 20, the authors say. Source: https://www.reuters.com/article/us-tech-antitrust-google-idUSKBN27F2LN?taid=5f9c89605be18d0001a78086&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter
Alphabet blocks news about the corrupt Bidens and most recent emails found on Hunter Biden’s laptop that would be illegal if proven true but then fails to help secure the U.S. border against illegal immigration. If these actions seem to be in perfect alignment with Google’s campaign donations, it’s because they are.
We continue to recommend staying out of big tech stocks like Google until the outcome of the 2020 Presidential election. If Biden wins, big tech will be an excellent long-term investment as Biden and Democrats will allow big tech to write the legislation governing their activities.
Alphabet reported third-quarter earnings results, reporting $16.40 per share and $46.17 billion in revenue compared to $11.24 per share and $42.90 billion in revenue, according to Refinitiv. Deirdre Bosa joins ‘Closing Bell’ to discuss.