Weekly Tech Round-up | #12
Here is all the latest tech news from the past week! Sign up for our newsletter to receive this in your inbox every week. You might like our South West tech news update.
China’s tech giants fall under regulator’s pressure
China’s tech giants are coming under increasing pressure from regulators worried about their growing influence. By Monday, Tencent had shed more than $60bn from its market values, as its share price slid over concerns of greater regulator scrutiny. Media reports are suggesting rival tech giant Alibaba may have to sell some of its media assets under the crackdown. Chinese regulators have signalled a tougher approach to tech firms.
California is banning companies from using ‘dark patterns’
California announced new protections for residents seeking to protect their personal information. The California Consumer Privacy Act bans companies from using ‘dark patterns,’ or website designs that confuse users into selling their information. The law bans tricks like burdening users with confusing language or forcing them to click through multiple screens during the process of opting out. Interestingly, California has become the first state to ban dark patterns.
One-fifth of all UK tech investment went to just 10 scaleup firms in 2020
Ten technology scaleups received one-fifth of all UK venture capital (VC) investment during 2020 in a record-setting year for VC investment generally, according to the seventh annual Tech Nation report. Investment into the UK tech sector hit $15bn in 2020 – $200m higher than the previous record set in 2019. This puts the UK in third place globally behind only the US and China, which raised $144.3bn and $44.6bn, respectively.
UK Tech Companies Lead Hiring Comeback Targeting Young People
The UK Tech sector is driving growth in youth employment with 1 in 6 openings in the digital tech sector suitable for entry-level jobseekers, according to Adzuna.
Moreover, young people can get into the tech sector through multiple pathways from entry-level roles targeting 16 to 24-year-olds, through apprenticeships, graduate schemes and internships. Additionally, Adzuna has identified 20,302 advertised vacancies that are particularly suitable for young people. This includes the Government’s Kickstart Scheme, which is aimed at getting young people who are currently receiving universal credit a position.