Benjamin Parkin, an insightful journalist covering international affairs, discusses a covert ads deal between Google and Meta aimed at targeting teenagers. He delves into the ethical controversies surrounding big tech and the need for governmental oversight. The conversation also touches on the significant financial decisions of the UK’s largest pension fund, which divested from Israeli assets due to human rights concerns. Additionally, Parkin sheds light on the escalating political turmoil in Bangladesh, driven by protests against a new interim leader amid economic instability.
Read more
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Google and Meta's secret advertising deal to target teenagers raises ethical concerns about maximizing revenue versus adhering to age restrictions.
The UK’s USS Pension Fund divested 80 million pounds from Israeli assets, reflecting a growing trend toward ethical investing among institutional investors.
Deep dives
Google and Meta's Controversial Advertising Deal
Google and Meta engaged in a secret agreement that allowed Meta to promote Instagram advertisements on YouTube, ultimately targeting a young demographic. This partnership contravened Google's own policies prohibiting the targeting of individuals under 18, highlighting the tension between maximizing advertising revenue and adhering to ethical guidelines. By leveraging a third-party advertising group, Google devised a method to reach this audience without directly violating its rules, creating a workaround that skirted its stated commitments. Following the investigation's disclosure, Google halted the project and initiated an inquiry into the matter, illustrating the ongoing challenges tech giants face in self-regulating their practices.
Pension Fund's Withdrawal from Israeli Investments
The USS Pension Fund, the largest private sector pension fund in the UK, divested 80 million pounds from Israeli assets, a reaction to member concerns over Israel's human rights policies amid ongoing conflicts. This move reflects growing pressures on institutional investors to reconsider their portfolios in light of ethical considerations and geopolitical events, urging divestment from companies linked to the Israeli government. The pension fund's decision is part of a broader trend, as other funds, including one in Denmark, have also exited Israeli investments. This shift indicates a potential reallocation of investments grounded in social responsibility and ethical investing.
Bangladesh's Political Turmoil and Economic Fallout
Bangladesh is experiencing severe political unrest following the resignation of long-time leader Sheikh Hasina amid widespread protests against government job quotas favoring her supporters. The protests escalated due to violent crackdowns that resulted in over 300 deaths, leading to an interim government led by Nobel laureate Mohammed Yunus, who aims to restore trust and stability. The chaos has had catastrophic economic implications, halting operations in garment factories that supply major global brands, thereby threatening livelihoods and economic stability. Yunus's credibility offers hope for resolving the situation, but concerns remain regarding the military's influence in governance, reflecting Bangladesh's tumultuous political history.
Google and Meta struck a secret ads deal to target teenagers, and the FT reports that the UK’s biggest private pension fund dumped £80mn of Israeli assets. Plus, the FT’s Benjamin Parkin updates us on the situation in Bangladesh.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.