American entrepreneur and investor
Ulta Beauty is under pressure as civil liberties groups and customers push back against Flock auto‑tracking cameras used in some stores. Ulta says the cameras operate at a small number of locations for crime prevention, with no facial recognition and strict data controls. The debate centers on privacy, safety, and the role of retailers in monitoring shoppers.
Meta has created a new class of non‑voting Class C shares and agreed a deal with Mark Zuckerberg that will let him sell a portion of those shares to cover a potential California one‑time billionaire tax (Proposition 40) without losing voting control. The company has said the move will also raise capital for AI investment and keep Zuckerberg working near Meta's headquarters.
California voters have rejected Proposition 40, a one-time 5% tax targeting billionaires with assets over $1 billion. The measure, aimed at funding healthcare and other programs, faced a multimillion-dollar opposition led by Silicon Valley figures like Sergey Brin and Eric Schmidt. Supporters argued the tax would replace lost Medi-Cal funding; opponents warned of economic harm. The vote is decisive as of today, with affected residents potentially facing future tax debates.