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In his first state-of-the-state address, California Gov. Gavin Newsom (D) proposed creating a “new data dividend” that could enable state residents to be paid for the personal data they give to tech companies. “California’s consumers should also be able to share in the wealth that is created from their data,” Newsom said from the State Capitol in Sacramento. He added that tech companies that “make billions of dollars collecting, curating and monetizing our personal data have a duty to protect it.” The suggested policy follows California’s passage of a comprehensive data privacy bill last year, which grants consumers specific rights to their personal digital information. [Jeff Daniels / CNBC]
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Apple says it wants to help save journalism — and all it wants in return is half of all the revenue journalists make when they sell their stuff through Apple’s forthcoming new subscription service. Cue internet outrage. The argument: 50 percent is way, way too high, given that Apple normally takes 15 percent to 30 percent of the revenue it generates when someone buys something from its App Store. Apple has already signed up many publishers to its news service, which is currently called Texture and will be relaunched as a premium version of Apple News this spring. But that may not convince the New York Times, the Washington Post or the Wall Street Journal to join up — those papers have built meaningful digital subscription businesses already, so an all-you-can-eat service that bundles them along with everyone else could cannibalize what they have. Meanwhile, Apple will unveil both its news subscription service and its streaming video service at a March 25 event. [Peter Kafka / Recode]
Former Apple senior lawyer Gene Daniel Levoff has been accused of insider trading in a civil complaint. Levoff’s position at Apple — he oversaw the company’s compliance with securities laws — granted him insider access to not-yet-public earnings results and briefings on iPhone sales; the complaint by the Securities and Exchange Commission says that on more than one occasion he disobeyed the company’s “blackout” period for stock transactions, selling or buying stock worth tens of millions of dollars. Apple fired Levoff in September. [Dave Michaels and Tripp Mickle / The Wall Street Journal]
T-Mobile US CEO John Legere pledged that his company will “never” use equipment from China’s Huawei after purchasing Sprint if the proposed $26.5 billion deal goes through. In testimony before a House panel, Legere said T-Mobile already does not use Huawei or ZTE equipment in its networks, and “we will never use it in our 5G network.” Meanwhile, the Trump administration is moving closer to issuing an expected executive order that would bar US telecommunications companies from using Chinese equipment, in an effort to prevent companies such as Huawei from gaining access to 5G networks. [Todd Shields / Bloomberg]
Levi Strauss & Co., which invented blue jeans and dominated the category for more than a century, has filed for an IPO, hoping to raise more than $600 million as it looks to go beyond denim. The family-controlled business seeks a total valuation in excess of $3 billion; the public offering would return Levi to the public markets more than three decades after it went private in a leveraged buyout. The San Francisco-based company is still the largest seller of jeans in the world, with a 12.1 percent share of the $16.68 billion US denim, dwarfing the next-largest player, Lee and Wrangler parent VF Corp., which has a 4.8 percent share. But denim growth has stalled in recent years as more people opt for yoga and sweatpants, or premium brands such as Frame and AG Jeans. [Suzanne Kapner and Maureen Farrell / The Wall Street Journal]
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Americans feel as bad about billionaires today as they did during the 2009 recession. One theory: It has less to do with Elizabeth Warren and more to do with Donald Trump. [Theodore Schleifer and Rani Molla]
Trump’s executive order on AI, explained. The president lays out a bold vision for how to make the US No. 1 in artificial intelligence, but critics say it’s just hollow words. [Shirin Ghaffary]
It will take more than NewsGuard’s team of journalists to stop the spread of fake news. Experts weigh in on whether a for-profit journalism initiative can do what big tech can’t. [Rani Molla]
Why venture capital doesn’t work for everyone. On the latest Recode Media podcast, Indie.vc founder Bryce Roberts says it’s only for the 1 percent of the 1 percent. [Peter Kafka]
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Teenage journalists memorialized hundreds of gun-violence victims in the “Since Parkland” project.
This article originally appeared on Recode.net.
