Good Tuesday Morning welcome to squawk alley. Im Carl Quintanilla with jon fortt and we had losses at the open but were close to session lows. Dow is down. 3 . S p 500 below 3400 the name of the game, jon, q3 earnings really no stimulus headlines to speak of were watching covid19 levels mega cap, m a in the chip space. You know what im talking about. Absolutely. We telegraphed it here it s were going to begin with amd and that 35 billion planned acquisition of xilinx. Its the boldest bet in a remarkable run by amds chief executive officer dr. Lisa su taking over almost exactly six years ago in october 2014. Sue has taken shares of amd from 3 to, what, 79 as of this morning. More than 2,000 rise. Todays deal is another challenge to intel its a push for market share in data centers and just the latest move by sue to turn amd from an also ran into a leader. Hopefully you have got to know me a little bit im all about focus and execution. You know, what we set out the plans for amd over the
Said this hearing will her were turned to order and we understand that senator moran is next so sir you are recognized. Chairman wicker thank you very much and thank you for you and senator cantwell hosting this hearing. Let me address initially this topic that seems to be primary today and then that is of data privacy. Let me ask all three witnesses how much money does your company stand annually on content moderation . How many people work in general in the area of content moderation including by private contract . Let me start with those two questions and ultimately want to ask you how much money does your company spend independently on lawsuits for content. See that mr. Zuckerberg do you want to go first . Senator we have more than 35,000 people who work on content and safety review and i believe our budget is multiple billions of dollars a year, upwards of three or maybe even more billion dollars a year which is a greater amount in revenue in the sense that we are spending more on
Without objection the chair medically resource recess without objection the chair may declare a recess had any time i want to go through the usual housekeeping matters todays session is an on an unclassified basis all participants should refrain from discussing classified information on Public Disclosure and the committee is conducting the virtual hearing with House Resolution 965 and the resolution of the proceedings is being broadcast live on the Committee Website because it remains ongoing and so we wish we could return to all Events Health and safety protocols means you have alternate means to carry out so let me remind members and consistent with regulations and to limit background noise members are responsible to unmute themselves when they are recognized for their five minutes because there are delays that would ask members andbe witnesses to allow sufficient time to make sure the last speaker is finished. You must have your cameras on at all times if you step away from the proc
With increased urgency following the adoption and state laws in california and other states. At a recent hearing a group of chairs and commissioners representing different parties and different points of view had many specifics to be worked out. Given the data needs associated with the coronavirus aftermath. The panel will discuss the tradeoff between privacy and the context of the pandemic and get back privacy considerations and what the new privacy wall should look like and include and what it should not include. We are a distinguished panel to discuss these issues. Let me introduce them now. We have professor of law at the university of arizona. Christina montgomery is Vice President and chief officer at ibm, the former acting chair and commissioner now a partner of the law firm, andrew smith is the head of the bureau of Consumer Protection of the ftc and distinguished professor of management. Let me start out with a question for the panel and then also take you in the same order. H
Panelists. Thank you. Senior fellow and president emeritus. Welcome to the Privacy Panel where we can discuss the issue of how the pandemic has changed our views on privacy and what that implies in the legislation. Congress is debating the privacy legislation for some years but with increased urgency following the adoption and state laws in california and other states. At a recent hearing a group of chairs and commissioners representing different parties and different points of view had many specifics to be worked out. Given the data needs associated with the coronavirus aftermath. The panel will discuss the tradeoff between privacy and the context of the pandemic and get back privacy considerations and what the new privacy wall should look like and include and what it should not include. We are a distinguished panel to discuss these issues. Let me introduce them now. We have professor of law at the university of arizona. Christina montgomery is Vice President and chief officer at ibm,