Australia launches a social media ban – and is AI a bubble about to pop?

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Hello, and welcome to TechScape,I’m your host, Blake Montgomery, writing to you from a New York City that feels much colder than last December,🥶In a world first, Australia implemented a ban on social media use for people under 16,It’s the first country to take such a far-reaching measure,Starting on 10 December, children and teens under 16 will not be allowed to use social media in Australia.

Tech platforms – a wide category that includes Instagram, YouTube, Snapchat and TikTok but not direct messaging services like WhatsApp or Facebook’s Messenger – will very soon be obligated to deactivate the accounts of too-young users.What does the ban entail?Platforms that the Australian government has included in the ban will need to deactivate all accounts for users under 16 and prevent those users from holding an account until after they turn 16.To make that possible, all Australian social media users will need to prove their ages.The country’s online safety regulator, the eSafety commissioner, must be satisfied the platforms have taken “reasonable steps” to prevent under-16s from holding an account, or they will face a fine of up to $49.5m.

Read more: Australia social media ban: when does it start, how will it work and what apps are being banned for under-16s?What do tech companies say?They are opposed to the prohibition.What do teenagers have to say?Some teens who spoke to my Guardian Australia colleagues said they were moderately in favor or indifferent to the ban.Emma Williamson, 15, said: “I think everyone will miss the socialising part.But it’s also a relief to not have to do that on a platform designed to lure you in and waste your time, no one is going to miss scrolling.”Others expressed complicated feelings of government overreach into their personal lives.

Ezra Sholl asked a dissenting question: “I’m 15 years old and have a disability,Social media has been a lifeline – why is the government kicking me off?”Read more: ‘Everyone will miss the socialising – but it’s also a relief’: five young teens on Australia’s social media banAre other countries following Australia’s lead, as tech companies feared?Yes,Malaysia plans to follow in Australia’s footsteps in 2026, according to the country’s communications minister,Denmark and Norway are pursuing similar measures,The European parliament voted in favor of a ban on children under 15 in November.

France’s Emmanuel Macron said his administration will implement a ban in the absence of one passed at the EU level.What about AI?Social media is not so new any more.AI chatbots represent the next frontier in the relationships between teens and computers.These responsive bots have even been recorded teaching teens how to circumvent Australia’s rules about social media.The country’s eSafety commissioner has expressed a desire to restrict the availability of those products to teenagers with stringent new laws as well.

Is the waterfall of money pouring into the artificial intelligence industry going to plunge the world into a recession? On Monday’s episode of the Guardian’s Today in Focus podcast, I go over the various perspectives on how the enormous investment in the sector has already taken over the US economy and is poised to do so to the globe’s, which some analysts say risks worldwide financial crisis.Will AI end in a crash a la Amsterdam’s tulips? Host Nosheen Iqbal asks about AI’s circular financing deals, massive valuations, comparisons to past bubbles, and whether “the spending is real”, as one analyst said after last quarter’s strong Nvidia earnings.We have all been witness to the huge rise of AI in the last three years since OpenAI launched ChatGPT.In that time, AI has become so enormously important to the US economy that seven companies – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla – make up a third of the S&P 500, the index of the 500 biggest stocks in the United States stock market.It’s a huge concentration of money in one singular industry.

All of those companies are very involved in the AI boom.For seven of them to comprise a third of that entire index’s value makes for a very top-heavy financial landscape.If any one of them falters in a significant way, it will send shock waves through the entire US economy.Does that make AI a bubble that’s about to pop? I don’t think so.I think the money is real, to repeat the Nvidia analyst.

There may be market corrections some time soon, and bubble doomsayers will say: “This bubble has popped,” AI bubble yeasayers will say: “No, the financial pain is minor in comparison to AI’s major gains,”It’s not impossible that AI precipitates a financial crash,So far, though, the steam behind the industry is so strong and growing so fast that, as a journalist, we have to view things as they are now,The biggest companies in the world are very profitable and making gargantuan investments.

That is the story as it stands today.Will they lose all their money in the financially disastrous blink of an eye? I don’t think it will be so fast.But MySpace had 800 million users at its peak, just as many as ChatGPT does now, and that disappeared with extreme rapidity after Rupert Murdoch bought it.So I don’t think AI is a bubble – yet.Listen to the whole podcast at this link, on Spotify or Apple, or wherever you get your podcasts.

The AI boom is heralding a new gold rush in the American westAI poses unprecedented threats,Congress must act now | Bernie Sanders | The GuardianElon Musk’s X fined €120m by EU in first clash under new digital lawsArtificial intelligence research has a slop problem, academics say: ‘It’s a mess’Is AI making us stupid? – podcast
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Reform campaign for Farage’s Clacton seat was a ‘juggernaut’, say candidates

The Tory and Labour candidates who Nigel Farage beat to win his Westminster seat of Clacton have described a Reform campaign that felt like a “juggernaut”, as police began assessing claims of overspending by the Reform UK leader.The candidates spoke after a former aide alleged that Reform UK falsely reported election expenses in Clacton, where Farage won in last year’s general election. On Monday, Essex police said they were assessing a report of “alleged misreported expenditure by a political party” after a referral from the Metropolitan police.Richard Everett, a former Reform UK councillor and member of Farage’s campaign team, has reportedly submitted documents to police showing the party spent more than the £20,660 limit in the Essex constituency.Everett has claimed Reform failed to declare spending on leaflets, banners, utility bills and the refurbishment of a bar in its Clacton campaign office, according to the Daily Telegraph

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Foreign states using AI videos to undermine support for Ukraine, says Yvette Cooper

Foreign countries are flooding social media with AI-manipulated videos to undermine western support for Ukraine, Yvette Cooper will warn on Tuesday.The UK foreign secretary will urge other countries to help Britain fight what she calls “information warfare”, as officials warn Russia is using forged documents and deepfake material to advance its geopolitical goals.The Foreign Office has previously warned that Russian agencies are operating a vast disinformation network known as Doppelgänger, which has spread false rumours about subjects including the health of the Princess of Wales and western financing of Israel.Cooper will say: “Across Europe we are witnessing an escalation in hybrid threats – from physical through to cyber – designed to weaken critical national infrastructure, undermine our interests and interfere in our democracies all for the advantage of malign foreign states.”The speech – which will mark 100 years of the Locarno treaties, signed after the first world war between the UK, France, Germany, Belgium, Italy, Poland and Czechoslovakia – comes at one of the most sensitive moments in the Ukraine war

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Tony Blair reportedly dropped from Trump’s Gaza ‘board of peace’ shortlist

Tony Blair will not occupy a key position on Donald Trump’s Gaza “peace council” after Arab and Muslim nations were reported to have objected to the involvement of the former UK prime minister.According to the Financial Times (FT), Blair has been quietly dropped from consideration for Trump’s “board of peace”, which Trump has said he would chair himself.It had previously been reported widely that Blair had been canvassing behind the scenes for a prominent role in Gaza’s interim administration, amid leaks of a plan drawn up in part by his Tony Blair Institute for Global Change (TBI) with Trump’s son-in-law and informal envoy Jared Kushner.While Blair’s backers had pointed to his role in ending decades of violence in Northern Ireland, critics had pointed to his lacklustre record of achievements while serving as the representative of the so-called Quartet – the UN, EU, US and Russia – to help mediate Middle East peace.In the wider Arab world, Blair was also viewed with scepticism and hostility over his role in the disastrous US-led invasion of Iraq in 2003

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‘Could do a better job than Keir Starmer’: who could replace the PM if he is forced out?

With Keir Starmer’s poll ratings getting worse, and the Labour party alarmed by the prospect of wipeout at next May’s local elections, there is much speculation at Westminster about whether he can last the course.The prime minister has no intention of standing aside for another candidate, saying he has defied his detractors before and would do so again. But with many on his own side fearing that he doesn’t have what it takes to turn things around, he may not have the chance.The jostling among those who may wish to replace him – or whose allies believe they’d do a better job – continues…Timing is everything in politics. When Downing Street unleashed an extraordinary bout of leadership speculation amid fears Starmer was vulnerable to a challenge after the budget, it was not Rayner they were worried about

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For once, Nigel Farage is the dog that doesn’t bark | John Crace

The dog that didn’t bark in the night.You can normally set your watches by Reform. It’s a rare Monday morning in which Nigel Farage doesn’t pop up somewhere in central London to give a press conference.Even when he has nothing new to announce, he usually has no shame in saying something he’s said before many times. He likes the attention

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UK will go further to stop ‘abusive’ Slapps lawsuits, Lammy says

David Lammy has said the UK will go further to tackle abusive and spurious lawsuits aimed at silencing whistleblowers and journalists, raising the prospect of further legislation next year.The deputy prime minister told campaigners and officials at the launch of the government’s anti-corruption strategy that he was determined to crack down on the practice known as Slapps – strategic lawsuits against public participation.Excessive legal threats have been used in several cases in an attempt to silence reporting on Russian oligarchs, as well those who tried to expose the Post Office Horizon scandal and allegations against Mohamed Al Fayed.The Ministry of Justice said the first priority would be to action the limited provisions in the Economic Crime and Corporate Transparency Act 2023, which tackle Slapps that relate to economic crimes.It also said it was a “priority commitment” in the strategy to consider the future approach for comprehensively tackling all Slapps