We’ve got our Chelsea back – Enzo Maresca loving chants from fans after winJulie Scelfo started MAMA — Mothers Against Media Addiction — earlier this year to help parents fight back against the harms of social media on children. A former journalist, Scelfo says she was inspired to take action after reporting on the youth mental health crisis and how screens and social media are affecting young people’s lives. The group has 28 chapters in 17 states, with waitlists to start other chapters. Scelfo says the group wants to establish chapters in every state, provide parent education about technology, “ensure the school day remains smart-phone-free for students and overcome the ”inertia in our state capitals and Congress so technology is safeguarded like other consumer products." Scelfo spoke with The Associated Press recently about her work with MAMA, as well as a new Australian law banning children under 16 from using social media. The Q&A has been edited for length and clarity. QUESTION: What are the biggest issues you hear from parents about technology, anything new that hasn’t been talked about as much? I’m not sure it hasn’t been talked about, but what I hear the most from parents is that they are extremely stressed about the ubiquity of technology in their children’s lives and they don’t know what to do about it. Whether it’s the massive social pressure to get kids their own phones, or the fact that kindergartners are handed tablets on their first day of school, it can feel almost impossible for parents to do what they intrinsically know is better for their kids — which is to be outside in the world as much as possible and not parked in front of a screen. But parents cannot possibly bear the entire responsibility of keeping children off screens and keeping them safe online because the problems are baked into society and into the design of the products. Parents and kids face a polycrisis — multiple crises happening at the same time which creates an effect even more devastating than each one would be individually. At a time when children should be building their social skills and attention span, they are increasingly interacting with the world through technology that can impede the development of both – and on platforms without adequate safeguards. Social media companies relentlessly target our kids with hidden algorithms that exploit their emotions for profit , and I don’t think there’s a real understanding of just how pervasive that exploitation is. Q: Is Australia’s ban on social media for kids under 16 the right move by a government? Why/why not? Australia’s social media ban for children under 16 puts the responsibility of compliance where it should be — on tech platforms, not parents. With more than half of teenagers spending nearly five hours a day on social media platforms and our heart-breaking national youth mental health crisis, it’s unconscionable that governments around the world, including here in the U.S., have failed to pass meaningful social media regulation since the days when AOL still distributed CD-ROMs by snail mail. Much like the Kids Online Safety Act (KOSA) would do here in the U.S, Australia’s ban represents a crucial first break in the long-standing logjam on any type of internet regulation and I applaud Australia’s legislators and Prime Minister Albanese for having the courage to stand up to Big Tech. Big Tech is personalizing content to pull our kids into a world where addiction, anxiety, and even depression are side effects. To keep them on the app longer, children are shown more and more extreme content, leveraging the mountains of data they are collecting on our kids, with no common-sense safeguards or basic protections every parent expects. They are making billions while having the nerve to say it’s the parents’ job to make their products safe for our kids? It’s time for governments to step in and force Beg Tech to take responsibility for the effects of their products. Big Tech has spent more than $51 million this year alone to prevent KOSA from passing. Q: What are the reasons that teens should wait until 16 to be on social media? A: Today’s youth spend nearly 9 hours on screens daily and it’s not healthy or safe for their hearts and minds. For example, Meta in September acknowledged taking action on 12 million pieces of suicide and self-harm content on Facebook and Instagram this year — just between April and June. Our kids’ compulsion to check their phones is exposing them to unsafe content and displacing critical, real-world experiences they need to properly develop socially, emotionally and academically. Q: Won’t kids just get around the restrictions, as they always do? A: Every other industry is safeguarded. From toys to food to buildings to cars, we have regulations in place to keep children safe. Why should social media products be any different? Kids may try to get around the restrictions — just like they do for alcohol, tobacco or drugs — but nobody is saying that because they try, we should give them unfettered access to them. Parents cannot possibly bear the entire responsibility of keeping children safe online, because the problems are baked into the design of the products, and so we need policies that hold Big Tech accountable for ensuring their products are safe. Q: What is your ultimate goal with MAMA? A: Just like Mothers Against Drunk Driving, the genesis of this movement is fury and anger at the injustice of young people being robbed of their lives just because they happen to be at the wrong place at the wrong time. I want to direct that energy into cultural change — we can’t continue to tout the benefits of technology without having an open and real-time discussion about its significant, and widespread harms and without ensuring that powerful corporations, just like Big Tobacco, are forced to make their products as safe as possible for humans. The ultimate goal for MAMA is to put tech products in their place: as powerful, and often helpful tools - but just a part of human life, not the center of it. Copyright 2024 The Associated Press . All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Overall, the government's announcement to stabilize the housing and stock markets has had a calming effect on market participants, signaling a commitment to economic stability and growth. By addressing concerns and uncertainties in these critical sectors, the government is creating a conducive environment for sustainable development and investment.It is worth noting that the reform and restructuring of village and town banks are part of a larger effort to promote financial stability and innovation in China. The government has been implementing various measures to modernize the banking sector, including promoting digitalization, fostering fintech development, and enhancing regulatory oversight.
‘Gladiator II’ review: Are you not moderately entertained?Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026 Fort Lauderdale, FL, Dec. 04, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced the closing on December 4, 2024 of its offering of 0.00% convertible senior notes due 2031 (the “notes”). The aggregate principal amount of the notes sold in the offering was $850 million. MARA also granted the initial purchasers an option to purchase an additional $150 million aggregate principal amount of the notes within a 13-day period beginning on, and including, the date on which the notes were first issued. The notes were sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The net proceeds from the sale of the notes were approximately $835.1 million, after deducting the initial purchasers’ discounts and commissions but before estimated offering expenses payable by MARA. MARA expects to use approximately $48 million of the net proceeds from the sale of the notes to repurchase approximately $51 million in aggregate principal amount of its existing convertible notes due 2026 (the “existing 2026 convertible notes”) in privately negotiated transactions with the remainder of the net proceeds to be used to acquire additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations. The notes are unsecured, senior obligations of MARA. The notes will not bear regular interest and the principal amount of the notes will not accrete. MARA may pay special interest, if any, at its election as the sole remedy for failure to comply with its reporting obligations and under certain other circumstances, each pursuant to the indenture. Special interest, if any, on the notes will be payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2025 (if and to the extent that special interest is then payable on the notes). The notes will mature on June 1, 2031, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after June 5, 2029, MARA may redeem for cash all or any portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date, if the last reported sale price of MARA’s common stock has been at least 130% of the conversion price then in effect for a specified period of time ending on, and including, the trading day immediately before the date MARA provides the notice of redemption. If MARA redeems fewer than all the outstanding notes, at least $75 million aggregate principal amount of notes must be outstanding and not subject to redemption as of the relevant redemption notice date. Holders of notes may require MARA to repurchase for cash all or any portion of their notes on June 4, 2027 and on June 4, 2029 or upon the occurrence of certain events that constitute a fundamental change under the indenture governing the notes at a repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the date of repurchase. In connection with certain corporate events or if MARA calls any note for redemption, it will, under certain circumstances, be required to increase the conversion rate for holders who elect to convert their notes in connection with such corporate event or notice of redemption. The notes are convertible into cash, shares of MARA’s common stock, or a combination of cash and shares of MARA’s common stock, at MARA’s election. Prior to March 1, 2031, the notes are convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The conversion rate for the notes is initially 28.9159 shares of MARA’s common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $34.5830 per share. The initial conversion price of the notes represents a premium of approximately 40.0% over the U.S. composite volume weighted average price of MARA’s common stock from 2:00 p.m. through 4:00 p.m. Eastern Daylight Time on Monday, December 2, 2024, which was $24.7022. The conversion rate is subject to adjustment upon the occurrence of certain events. In connection with any repurchase of the existing 2026 convertible notes, MARA expects that holders of the existing 2026 convertible notes who agree to have their notes repurchased and who have hedged their equity price risk with respect to such notes (the “hedged holders”) will unwind all or part of their hedge positions by buying MARA’s common stock and/or entering into or unwinding various derivative transactions with respect to MARA’s common stock. The amount of MARA’s common stock to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historic average daily trading volume of MARA’s common stock. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of MARA’s common stock, including concurrently with the pricing of the notes, resulting in a higher effective conversion price of the notes. MARA cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or MARA’s common stock. The notes were sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and the shares of MARA’s common stock issuable upon conversion of the notes, if any, have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and the notes and any such shares may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The offering of the notes was made only by means of a private offering memorandum. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the notes, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction. Nothing in this press release shall be deemed an offer to purchase MARA’s existing 2026 convertible notes. About MARA MARA (NASDAQ:MARA) is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. MARA secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to MARA’s use of the net proceeds of the offering. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the “Risk Factors” section of MARA’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 28, 2024, as amended on May 24, 2024, the “Risk Factors” section of MARA’s Quarterly Report on Form 10-Q filed with the SEC on August 1, 2024, the “Risk Factors” section of MARA’s Quarterly Report on Form 10-Q filed with the SEC on November 12, 2024 and the risks described in other filings that MARA may make from time to time with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and MARA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. MARA Company Contact: Telephone: 800-804-1690 Email: ir@mara.com