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Good morning! This is the tech news you need to know this Monday.
- Elon Musk must step down as chairman of Tesla and pay a $20 million fine after reaching a settlement with the US Securities and Exchange Commission. The SEC had on Thursday charged Musk with “false and misleading statements” about taking Tesla private.
- California signed through a net neutrality law which is being contested by the US government. Department of Justice officials plan to sue California to block the bill, which would restore net neutrality protections.
- Facebook announced on Friday that it was hacked, with over 50 million users affected. The attack appears to be the most significant breach in Facebook’s history, and sent shares down by 3% in midday trading on Friday.
- Facebook could be fined up to $1.63 billion for Friday’s massive breach which may have violated EU privacy laws. The hack may have violated the EU’s new privacy law called the General Data Protection Regulation, which would result in a hefty fine if EU citizens were affected.
- FBI agents forced a suspect in an investigation to unlock their iPhone using Apple’s Face ID. The investigation, first reported by Forbes, is the first known case where a suspect has been compelled to use Apple facial recognition feature to open a phone.
- Google CEO Sundar Pichai agreed to give testimony at Capitol Hill after Google failed to send anyone to the Senate Intelligence Committee hearing early in September. Pichai will be invited to testify at a House Judiciary Committee, and he is reportedly keen to attend.
- Slack is planning to go public in 2019 at a reported $7 billion valuation. Slack is planning an initial public offering in 2019, The Wall Street Journal reported and a person familiar with the matter confirmed to Business Insider.
- Elon Musk told Tesla employees the company is “very close to achieving profitability” after agreeing to pay the SEC a $20 million fine. Musk gave the update to staff in a company-wide email on Sunday.
- For the first time since the original, a new “Minecraft” game is in the works, and it’s arriving in 2019. The game is named “Minecraft: Dungeons,” and it’s a dungeon crawler along the lines of “Diablo.”
- Business Insider investigated “BeautyGate,” the claims that the iPhone XS selfie camera makes faces look too smooth. The smoothing effect on selfies taken with iPhone XS phones is reminiscent of the “beauty modes” from phones like Samsung’s line of Galaxy phones.
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