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California Governor Proposes Digital Dividend Aimed at Big Tech

  • Alphabet, Facebook shares give up some gains after comments
  • Newsom also praises tough California data-privacy law
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California Governor Gavin Newsom proposed a “digital dividend” that would let consumers share in the billions of dollars made by technology companies in the most populous U.S. state.

In his “State of the State” speech on Tuesday, Newsom said California is proud to be home to tech firms. But he said companies that make billions of dollars “collecting, curating and monetizing our personal data have a duty to protect it. Consumers have a right to know and control how their data is being used.”