Elon Musk's social media firm X will face parts of a $250 million copyright infringement lawsuit according to the latest federal judge ruling. The suit alleges that X helps some users incorporate music into their posts without permission from the artists. According to the suit, X, formerly Twitter, provides paying subscribers with greater leeway when sharing copyrighted music. The differential treatment with regard to the issue indicates that X is not taking "reasonable steps" to keep the piracy from occurring.
Tag: market failure
Yale, Columbia Join $105 Million Student Aid Suit Settlement (Micro News for January 27, 2024 – February 2, 2024)
Five top universities that include Yale, Duke, Emory, Brown, and Columbia announced a $104.5 million settlement of a class action lawsuit alleging they colluded with other elite universities to fix financial aid packages. The lawsuit was initiated by former students who alleged the schools did not compete for top students by offering better financial aid packages but instead agreed to use the same financial aid formula so offers would be the same from all universities.
Doordash, Grubhub and Uber Sue New York City Over Minimum Wage Law (Micro News for July 15, 2023 – July 21, 2023)
New York City announced that it was mandating an increase in pay for food app delivery workers that went into effect on July 12, 2023. The new law increased the delivery workers' pay to $17.96 an hour effective on that date. Their hourly wage would move up to almost $20 an hour effective April 2025. A New York City official stated the law was designed to "support delivery workers."
Workers at Major Hotels in Southern California Begin Strike Over Holiday Weekend (Micro News for July 1, 2023 – July 7, 2023)
A labor union that represents about 15,000 hotel workers in Southern California followed through with their threat to strike over the holiday weekend. The strike affected 65 hotels in the Los Angeles area including the Ritz-Carlton and the Four Seasons Regent Beverly Wilshire. The union demands include an immediate 20% to 25% bump in pay, better health care plans, and a pension plan. Ninety-six percent of the union's members voted to go on strike. The labor union stated that workers could not afford to live near where they work and were in desperate need of higher pay.
Pearson Economic News 