Tag: meta platforms

Double Whammy for Elon Musk: Slowing EV demand and shaky AI credentials make it hard
12Feb By adminNo Comments
Technology

Double Whammy for Elon Musk: Slowing EV demand and shaky AI credentials make it hard

[ad_1]  If you're building a list of the most important stocks in the market, Tesla Inc. has to be on it. Or does it? That's part of a growing debate on Wall Street, where shares of Elon Musk's electric-vehicle maker are tanking as the rest of the market rallies — and the company is warning that things may not get better for a while. An original member of the so-called Magnificent Seven tech stocks that have been driving the S&P 500 Index to new heights, traders are now wondering if Tesla's name belongs next to those other powerhouses.After doubling last year, Tesla's stock price is down 22% to start 2024. Compare that to Nvidia Corp.'s 46% surge or Meta Platforms Inc.'s 32% gain since the beginning of the year and it's easy to see where the questions are coming from. Indeed, it's b...
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Spotify to Meta platforms, how companies say ‘layoffs’ without saying ‘layoffs’
11Feb By adminNo Comments
Technology

Spotify to Meta platforms, how companies say ‘layoffs’ without saying ‘layoffs’

[ad_1] Have you suffered an “involuntary career event” recently? Perhaps you were a casualty of “corporate outplacing,” the unfortunate, yet ostensibly necessary result of your company “rightsizing.” Managers are running out of ways to say you no longer have a job. Layoffs in the first month of 2024 have left tens of thousands without jobs, with the tech industry alone cutting 32,000 roles. The way the bad news is delivered is more important than ever, as companies fear being canceled on social media after a poorly executed final conversation. Executives are using all kinds of euphemisms to avoid being straightforward with their employees.Harvard Business School professor Sandra Sucher said that delicate language is the result of “moral disengagement,” a harm-doer's effort to rationaliz...
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Google, Facebook take bigger share of ad spending, but economic slowdown could hurt growth
9Feb By adminNo Comments
Technology

Google, Facebook take bigger share of ad spending, but economic slowdown could hurt growth

[ad_1]  Weak results from Google, Snap and other big sellers of online ads are raising concerns that Wall Street's optimistic growth forecasts are setting investors up for rude surprise this year.Google, which dominates the $270 billion digital advertising sector, recently disappointed Wall Street when its 8.9% fourth-quarter ad revenue growth fell short of expectations. Snap, which owns social media app Snapchat and also relies heavily on advertising dollars, reported discouraging revenue for its most recent quarter. The misses have raised concerns that Wall Street's forecast of up to 14% growth in digital advertising in 2024 may be too rosy. “Alphabet's disappointing ad revenue numbers suggest that corporations worldwide are still uncertain about the pace of interest rate cuts from gl...
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Facebook, Instagram and WhatsApp – Meta’s Apps Are ‘Hotbed’ for Financial Scams, Revolut Says
9Feb By adminNo Comments
Technology

Facebook, Instagram and WhatsApp – Meta’s Apps Are ‘Hotbed’ for Financial Scams, Revolut Says

[ad_1] Most scams reported to finance app Revolut Ltd. in the UK last year started their journey on Meta Platforms Inc. social media, with most money lost to “get-rich-quick” investment schemes. The London-based fintech found 60% of UK scam cases came from Facebook, Instagram and WhatsApp, dwarfing other platforms and frauds conducted by telephone. Revolut found a similar trend across Europe, where 61% of scams originated on Meta services.Woody Malouf, Revolut's head of financial crime, said Meta platforms were “being used as a hotbed for scams,” and urged Revolut customers to avoid so-called investment opportunities. “Banks and financial institutions should be the last line of defence, not the only line of defence.” We are on WhatsApp Channels. Click to join.  Malouf appeared alongside...
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Meta Platforms challenges EU over content moderation law fees
8Feb By adminNo Comments
Technology

Meta Platforms challenges EU over content moderation law fees

[ad_1] Facebook owner Meta announced on Wednesday it would challenge in court an EU demand for fees under a content moderation law.The European Commission last year put Meta's Facebook and Instagram on a list of "very large" online platforms that face tougher rules under the new Digital Services Act (DSA). Companies on the list must pay fees to the commission, the EU's executive arm, to bankroll enforcement of the DSA. Meta supported the DSA's aims and had introduced measures to comply, "but we disagree with the methodology used to calculate these fees," a company spokesperson said."Currently, companies that record a loss don't have to pay, even if they have a large user base or represent a greater regulatory burden, which means some companies pay nothing, leaving others to pay a dispro...
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Oversight board urges Facebook owner Meta Platforms to rethink its policy on manipulated media
6Feb By adminNo Comments
Technology

Oversight board urges Facebook owner Meta Platforms to rethink its policy on manipulated media

[ad_1]  An oversight board is criticizing Facebook owner Meta's policies regarding manipulated media as “incoherent" and insufficient to address the flood of online disinformation that already has begun to target elections across the globe this year.The quasi-independent board on Monday said its review of an altered video of President Joe Biden that spread on Facebook exposed gaps in the policy. The board said Meta should expand the policy to focus not only on videos generated with artificial intelligence, but on media regardless of how it was created. That includes fake audio recordings, which already have convincingly impersonated political candidates in the U.S. and elsewhere. The company also should clarify the harms it is trying to prevent and should label images, videos and audio ...
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Snap, Okta to Amazon, Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut
6Feb By adminNo Comments
Technology

Snap, Okta to Amazon, Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut

[ad_1]  The tech industry has started 2024 with another wave of job cuts, paring back even further after widespread layoffs last year. So far, some 32,000 tech workers have lost their jobs in 2024 according to Layoffs.fyi, a startup that has been tracking job cuts in the industry since the pandemic. Snap Inc. became the latest example, announcing on Monday that it's reducing its workforce by about 10%, or around 540 employees. Earlier this month, software company Okta Inc. said it would eliminate 7% of its staff to reduce costs, affecting about 400 employees. The list goes on, including Big Tech employers like Amazon.com Inc., Salesforce Inc. and Meta Platforms Inc. This year, “tech companies are still trying to correct for their over-hiring during the pandemic surge, given that the hig...
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Meta Platforms to deploy in-house custom chips this year to power AI drive – memo
2Feb By adminNo Comments
Technology

Meta Platforms to deploy in-house custom chips this year to power AI drive – memo

[ad_1] Facebook owner Meta Platforms plans to deploy into its data centers this year a new version of a custom chip aimed at supporting its artificial intelligence (AI) push, according to an internal company document seen by Reuters on Thursday.The chip, a second generation of an in-house silicon line Meta announced last year, could help to reduce Meta's dependence on the Nvidia chips that dominate the market and control the spiraling costs associated with running AI workloads as it races to launch AI products. The world's biggest social media company has been scrambling to boost its computing capacity for the power-hungry generative AI products it is pushing into apps Facebook, Instagram and WhatsApp and hardware devices like its Ray-Ban smartglasses, spending billions of dollars to am...
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Facebook cofounder Mark Zuckerberg’s long apology tour: A brief history
1Feb By adminNo Comments
Technology

Facebook cofounder Mark Zuckerberg’s long apology tour: A brief history

[ad_1] When Mark Zuckerberg turned at a Senate hearing to address the parents of children exploited, bullied or driven to self harm via social media, it felt like a time-worn convention had sprung back to life.“I'm sorry for everything you've been through,” the Meta CEO said Wednesday. “No one should go through what you and your families have suffered.” Then he returned to corporate mode, noting Meta's continued investments in “industry-wide” efforts to protect children. Zuckerberg has accumulated a long history of public apologies, often issued in the wake of crisis or when Facebook users rose up against unannounced — and frequently unappreciated- changes in its service. It's a history that stands in sharp contrast to most of his peers in technology, who generally prefer not to speak p...
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I’m sorry for everything, Meta CEO Mark Zuckerberg tells families of children harmed by social media
1Feb By adminNo Comments
Technology

I’m sorry for everything, Meta CEO Mark Zuckerberg tells families of children harmed by social media

[ad_1] On Wednesday, as many as 5 CEOs of the biggest social media and messaging companies attended the US Senate hearing on the impact of social media on children including X CEO Linda Yaccarino, Snapchat CEO Evan Spiegel, TikTok CEO Shou Zi Chew, Discord CEO Jason Citron, and Meta Platforms CEO Mark Zuckerberg. The hearing was conducted after lawmakers accused these companies of not protecting the children from the many dangers present on their social media platforms. During the hearing, a teary-eyed Zuckerberg made a direct public apology to the affected families present at the Senate hearing. Check what Meta CEO said in his apology. Meta CEO Mark Zuckerberg's apologyAccording to a DWnews video post on Instagram, Zuckerberg, while apologising to the family said, “I'm sorry for everyt...
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