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October 25, 2021

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Stock futures are flat after Dow and S&P 500 close at records, big tech earnings on deck

CNBC
CNBC – For more and to sign up click here Traders work on the floor of the New York Stock Exchange (NYSE), September 22, 2021. Brendan McDermid | Reuters U.S. stock futures were steady in overnight trading on Monday as investors await a slew of major technology earnings with the......

Facebook invests billions in metaverse efforts as ad business slows

Reuters
3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration Oct 25 (Reuters) – Facebook Inc (FB.O) said on Monday it will start breaking out the financials for its virtual and augmented reality unit, an announcement that comes as its main advertising......

Facebook beats on earnings despite revenue miss

CNBC
CNBC – For more and to sign up click here Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, October 23, 2019. Erin Scott | Reuters Facebook shares rose in extended trading on Monday after the company reported better-than-expected third-quarter earnings while revenue missed......

Trump SPAC Digital World Acquisition drops 10% after huge gains on social media merger news

CNBC
CNBC – For more and to sign up click here The social media app will be developed by Trump Media and Technology Group (TMTG). Rafael Henrique | LightRocket | Getty Images The SPAC stock linked to Donald Trump’s planned social media platform sharply dropped in price Monday afternoon after booking......

Facebook makes hate worse, whistleblower tells MPs

BBC
A former Facebook employee-turned-whistleblower has told MPs that the company’s algorithms will fuel episodes of violent conflict by spreading divisive content. Frances Haugen said Facebook was “unquestionably” making online hate worse. Facebook’s co-founder Mark Zuckerberg has previously said it was deeply illogical to argue that the company profits from pushing......

Frances Haugen, the Facebook whistle-blower, testifies in Parliament.

New York Times
British policymakers heard testimony on Monday from the former Facebook manager who became a whistle-blower and shared scores of internal documents with policymakers, regulators and journalists to help build a case for stiffer oversight of the social media giant. Frances Haugen, the former employee, spoke before a Parliament committee as......

Former Facebook executive says leaked documents show platform’s harm

CBS News
CBS News – For more and to sign up click here Former Facebook executive says leaked documents show platform’s harm – CBS News Watch CBSN Live We’re getting an inside look at more of the massive trove of leaked documents from embattled tech giant Facebook. CBS News, along with a......

Facebook shares under pressure following release of leaked whistleblower documents

CNBC
CNBC – For more and to sign up click here Mark Zuckerberg, chief executive officer and founder of Facebook Inc., arrives for a House Financial Services Committee hearing in Washington, D.C., Oct. 23, 2019. Andrew Harrer | Bloomberg | Getty Images The Facebook Papers, a series of articles published by......

Facebook knew about, failed to police, abusive content globally – documents

Reuters
Oct 25 (Reuters) – Facebook employees have warned for years that as the company raced to become a global service it was failing to police abusive content in countries where such speech was likely to cause the most harm, according to interviews with five former employees and internal company documents......

Facebook whistleblower Frances Haugen faces UK Parliament

BBC
https://www.bbc.co.uk/news/technology-59038506?at_medium=RSS&at_campaign=KARANGA “The real question is around can we, as a public, change the incentives such that it makes more sense for Facebook to invest more money in safety on Instagram,” Ms Haugen said in a BBC interview with Ian Russell, the father of 14-year-old Molly Russell, who killed herself after......

Whistleblower Haugen to testify as UK scrutinizes Facebook

Detriot News
Detroit News – For more and to sign up click here London – Former Facebook data scientist turned whistleblower Frances Haugen plans to answer questions Monday from lawmakers in the United Kingdom who are working on legislation to rein in the power of social media companies. Haugen is set to......

Stocks making the biggest moves in the premarket: Pinterest, PayPal, Tesla and more

CNBC
CNBC – For more and to sign up click here Take a look at some of the biggest movers in the premarket: Pinterest (PINS) – Pinterest shares tumbled 13.2% in premarket trading after PayPal (PYPL) said it was not pursuing an acquisition of the social media company at this time.......

Facebook Wrestles With the Features It Used to Define Social Networking

New York Times
SAN FRANCISCO — In 2019, Facebook researchers began a new study of one of the social network’s foundational features: the Like button. They examined what people would do if Facebook removed the distinct thumbs-up icon and other emoji reactions from posts on its photo-sharing app Instagram, according to company documents.......

Father of Molly Russell meets Facebook whistleblower

BBC
Facebook whistleblower Frances Haugen will give evidence to MPs on Monday as part of government plans for social media regulation. Ms Haugen, an American data scientist, worked at Facebook for two years and leaked documents that she said proved Facebook repeatedly prioritised growth over users’ safety. She met the campaigner......

Jan. 6 panel seeking information from Facebook and following the money, chair says

Politico
Politico.com – For more and to sign up click here Thompson said the committee is “negotiating” with Facebook to get specific information and isn’t yet ready to determine the social media giant’s role in terms of spreading information ahead of the attack. “It’s clear that the Jan. 6 organization per......

Facebook is being deceitful, Sen. Blumenthal says

Politico
Politico.com – For more and to sign up click here Sen. Richard Blumenthal speaks during a news conference outside the U.S. Capitol in April. | Stefani Reynolds/Getty Images Sen. Richard Blumenthal on Sunday tore into Facebook, calling the company’s stated attitudes on regulation a sham. Speaking on “Reliable Sources” on......

In India, Facebook Grapples With an Amplified Version of Its Problems

New York Times
On Feb. 4, 2019, a Facebook researcher created a new user account to see what it was like to experience the social media site as a person living in Kerala, India. For the next three weeks, the account operated by a simple rule: Follow all the recommendations generated by Facebook’s......

Facebook And January 6, Spending Negotiations, A Guide To Vaccine News : Up First

NPR
NPR Internal documents show Facebook employees raised alarms about “Stop the Steal” misinformation before January 6. President Biden is negotiating with fellow Democrats about the size of his social spending bill. More adults will now be able to get COVID-19 booster shots; are kids’ shots next? NPR – Click for......

Facebook Faulted by Staff Over Jan. 6 Insurrection: ‘Abdication’

Detriot News
Detroit News – For more and to sign up click here As rioters breached barricades and bludgeoned police with flagpoles before storming the U.S. Capitol on Jan. 6, some employees at Facebook Inc. took to an internal discussion board to express shock and outrage. Many of the posts were imbued......

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