Weekly Digital News Roundup: July 3-7
Google Forced to Censor History
- According to Business Insider, the European Union’s new law offering people the “right to be forgotten” is already resulting in the censorship of the internet.
- For instance, Google was required to delete a link to this BBC article about Stan O’Neal, the former CEO of Merrill Lynch. O’Neal led the bank in the mid-2000s, a period when it became dangerously over-exposed to the looming mortgage crisis. There is nothing incorrect in the post; in fact, it’s a rather mild account of O’Neal’s behavior during the period.
- What happened to O’Neal is ancient, well-established history. Having it removed from Google doesn’t undo the fact that it happened. But there is a new generation of 25-year-old investment bankers who perhaps do not have a firm grasp of the 2007 crisis that reshaped banking globally. Their grasp will be ever more slightly weaker due to this new law.
Twitter CEO is Gutting the Top Ranks
- According to Ad Age, Twitter CEO Dick Costolo is gutting the company’s top ranks as he seeks to build an executive dream team that can restore momentum.
- The microblogging service yesterday named a new chief financial officer, the former Goldman Sachs Group banker Anthony Noto, in what is the fourth major change among top lieutenants this year.
- Mr. Costolo, 50, is facing pressure to improve Twitter’s growth after a slowdown in new users has caused the stock to tumble 34% this year.
Mobile Ads Will Surpass Print and Radio This Year
- According to AdWeek, new data anticipates that mobile will account for 9.8 percent of the total United States ads marketplace this year, surpassing newspapers (9.3 percent), magazines (8.4 percent) and radio (8.6 percent).
- Brands are spending 83 percent more on ads on phones and tablets compared to 2013, allowing the larger digital category to account for 30 percent of the advertising marketplace, per the research company eMarketer.
- The general ad market is expected to increase 5.3 percent year over year in 2014 to $180 billion, thanks to jumps in mobile and TV advertising. Such growth marks the first time since 2004 that the U.S. advertising landscape has lifted by more than 5 percent, according to eMarketer.