The Internal Revenue Service is scrapping a plan to use facial recognition to authenticate people when they sign up for accounts on its website, following a backlash from privacy advocates and both aisles of Congress after the agency announced the initiative last month. The response, and the IRS’ about-face, illustrate the continuing controversy over facial recognition technology, which...
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Chinese Investment Giant Hillhouse Capital Seeks to Expand Outside China
Hillhouse Capital Group, the Chinese sprawling investment powerhouse that has drawn comparisons to Tiger Global Management, has a new challenge: growing outside China. The firm is best known for investments in Chinese tech giants such as Tencent, JD.com, Didi Global and TikTok owner ByteDance. But the devastation of China’s private equity and venture capital sectors, caused by...
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