Meta Plans Hiring Cuts as It Gears Up for ‘Fierce Headwinds’

Meta Platforms is preparing for a steep economic downturn that CEO Mark Zuckerberg is trying to get in front of by cutting costs and refocusing priorities. Engineering hires will be cut by 30 percent this year, with fewer than 7,000 additions as opposed to the original target of 10,000. The pivot comes at a time when Meta is seeking to expand on several fronts. The company reportedly needs to increase by fivefold the computing power of its data centers in order to accommodate the artificial intelligence technology that will be necessary to support its new “discovery” push.  Continue reading Meta Plans Hiring Cuts as It Gears Up for ‘Fierce Headwinds’

Snapchat+ Subscription Tier Launches in Limited Territories

Snap Inc. is beginning the rollout of Snapchat+,  a subscription tier promising “exclusive, experimental and prerelease features” as well as priority support for a monthly fee of $3.99. Targeting “our most passionate users,” Snapchat+ will be available at launch in the U.S., Canada, the UK, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates, with plans for further expansion as the tier evolves. The Snapchat+ launch follows similar moves by Twitter, with Twitter Blue, and Meta Platforms, with Facebook Subscriptions as social platforms seek to supplement advertising with additional revenue streams. Continue reading Snapchat+ Subscription Tier Launches in Limited Territories

Concern Expressed Over Meta Scrapping CrowdTangle Filter

As the U.S. approaches the 2022 midterm elections, social media platforms are being criticized for dropping the ball on misinformation safeguards. Meta Platforms’ Facebook has triggered alarm over plans to scrap CrowdTangle, a relevance filter Facebook has promoted as a discovery tool. Advocacy groups have described CrowdTangle as “indispensable” to finding false information online. Meta is accused of reducing CrowdTangle support and losing interest in election security overall as it shifts focus from the real world to the metaverse. CrowdTangle is cross-platform, and used to analyze content on Twitter and Reddit, among others. Continue reading Concern Expressed Over Meta Scrapping CrowdTangle Filter

TikTok Expected to Triple Ad Revenue to $12 Billion in 2022

TikTok had its first official presence at the Cannes Lions Festival of Creativity on the French Riviera, where the ByteDance mobile video platform competed with the likes of Amazon, Netflix, Activision Blizzard, Spotify, Reddit and Meta Platforms for the attention of the world’s biggest brands and top advertising agencies. Touting its viral appeal and popularity among key demographics including Gen Z, millennials and social influencers, the company hosted a cabana on the beach with dedicated space to make TikTok videos, held meetings in a nearby suite and participated onstage at the Palais des Festivals. Continue reading TikTok Expected to Triple Ad Revenue to $12 Billion in 2022

Meta Touts Creator Monetization Tools and NFT Collectibles

Meta Platforms is sweetening the pot for creators on Facebook and Instagram by deferring revenue sharing to 2024 and allowing paying subscribers on other platforms access to subscriber-only Facebook Groups. Meta CEO Mark Zuckerberg says Meta is testing an Instagram destination creators can use to get discovered and paid for content. Meta will also be opening its Reels bonus program to more Facebook users and letting a wider range of creators participate in Facebook’s Stars tipping feature. The company is also expanding last month’s Instagram NFT test as eBay announces purchase of the KnownOrigin NFT marketplace. Continue reading Meta Touts Creator Monetization Tools and NFT Collectibles

Meta Platforms Will Adjust Ad Tech per Agreement with DOJ

Meta Platforms has agreed to change its advertising technology and pay a $115,054 fine to settle a Justice Department claim of race and gender discrimination by the algorithm used to display its housing ads. “Meta will — for the first time — change its ad delivery system to address algorithmic discrimination,” U.S. attorney for the Southern District of New York Damian Williams said in a statement. “But if Meta fails to demonstrate that it has sufficiently changed its delivery system to guard against algorithmic bias, this office will proceed with the litigation.” Continue reading Meta Platforms Will Adjust Ad Tech per Agreement with DOJ

Meta Teases Headset Prototypes from VR Development Lab

With Apple expected to announce an AR/VR headset by year’s end, Meta Platforms CEO Mark Zuckerberg is wasting no time trying to saturate the market with Meta Quest 2 games and gear, while priming the pump for the Meta Quest Pro, which some say may debut as early as this fall. June has seen a summer sale of up to 40 percent off on 60 Quest 2 games. And last week, Zuckerberg mounted a shock and awe offensive, previewing several early prototypes, including the Holocake 2 — Meta’s lightest, thinnest VR headset, which plays PC virtual reality games. Continue reading Meta Teases Headset Prototypes from VR Development Lab

YouTube Gains on TikTok as Top Choice for Short-Form Vid

YouTube is stepping up to fill what it perceives as a short-form video void in India, with a population of one billion, which is facing a ban on Bytedance’s popular video app TikTok. One New York-based creator says 80 percent of his views from a recent viral video short came from India, and YouTube, a division of Alphabet’s Google, is parlaying such information to take on short-form video phenom TikTok globally as video clips become the new battlefield for social media dominance. “There is a long game here,” said Todd Sherman, YouTube Shorts director of product management. “I think short-form video is here to stay.” Continue reading YouTube Gains on TikTok as Top Choice for Short-Form Vid

Collectibles Come to Social Shopping via eBay Live Platform

E-commerce company eBay is launching eBay Live, a live shopping platform that lets people browse, chat and purchase items from anywhere in the world using beta technology that combines entertainment with instant purchasing. The first series will offer a curated selection of rare trading cards from top eBay seller Bleecker Trading, and will be hosted by trading card enthusiast DJ Skee. The new platform is designed for social shopping, “allowing our community to come together over shared interests and merchandise,” explained eBay vice president of collectibles, electronics and home Dawn Block. Continue reading Collectibles Come to Social Shopping via eBay Live Platform

Mozilla’s Firefox Browser Defaults to Total Cookie Protection

Mozilla has made Total Cookie Protection the default setting for Firefox worldwide, turning it into what the company calls “the most private and secure major browser available across Windows, Mac and Linux.” Total Cookie Protection works by “confining cookies to the sites where they were created, thus preventing tracking companies from using these cookies to track your browsing from site to site.” The feature — which Mozilla promises won’t negatively affect the browsing experience — creates a separate “cookie jar” for each website visited, limiting behavioral insights to that one site rather than letting trackers link behavior across multiple sites. Continue reading Mozilla’s Firefox Browser Defaults to Total Cookie Protection

Facebook Adjusts Algorithms, Messenger, to Take on TikTok

Facebook is trying to make its feed operate more like TikTok’s, according to recent reports that indicate the company recently directed employees to adjust the platform’s algorithms to prioritize popular posts, regardless of their source, over its traditional approach of serving posts from friends or accounts followed. Parent company Meta Platforms is also said to be reuniting Facebook with the Messenger app in order to align its message functionality with that of TikTok. Combined with an increased emphasis on short-form video with Reels on Facebook and Instagram, the changes reflect TikTok’s threat to Meta’s social media dominance. Continue reading Facebook Adjusts Algorithms, Messenger, to Take on TikTok

Online Child Safety Gains Steam at State and Federal Levels

Online privacy protections for consumers are in focus on Capitol Hill, with the Kids Online Safety Act (KOSA) getting particular attention. A coalition of more than 100 organizations, including Fairplay and the American Psychological Association are calling on senators to advance KOSA this month. Co-sponsored by senators Richard Blumenthal (D-Connecticut) and Marsha Blackburn (R-Tennessee), the legislation would require social media platforms to conduct annual audits to identify risks to minors as well as more concrete steps like opting out of algorithmic recommendations and disabling “addictive” features.  Continue reading Online Child Safety Gains Steam at State and Federal Levels

Meta Shifts Focus and Investments as It Looks to Cut Costs

Meta Platforms is reportedly ceasing production of consumer version of its Portal video calling device, but will continue manufacturing the Meta Portal (formerly Facebook Portal) — which can connect up to 50 participants — for business use, according to recent reports. The company is also said to be cutting back on Reality Labs investments, reportedly shelving plans to release the augmented reality glasses developed under the codename Project Nazare, expected to come to market in 2024, and is skipping ahead to a more advanced, second generation version. Continue reading Meta Shifts Focus and Investments as It Looks to Cut Costs

IP Protection for NFTs and Blockchain Assets Is Still Unclear

As blockchain projects diversify into sales marketplaces for creative works, many find themselves dealing with copyright problems due to uncertainty as to how existing law applies to things like NFTs (non-fungible tokens) and DAOs (decentralized autonomous organizations). For instance, while purchase of an NFT confers certain rights, copyright isn’t one of them, unless the buyer applies for a standard copyright license. Spice DAO spent $3 million to purchase director Alejandro Jodorowsky’s 1970s illustrated pitch for an unfilmed version of “Dune,” only to have the “Dune” copyright holder block the ability to turn the storyboards into an animated film. Continue reading IP Protection for NFTs and Blockchain Assets Is Still Unclear

Big Tech Fights Antitrust Bill as Congress Moves Toward Vote

Big Tech is pulling out all the stops to prevent Congress from signing the American Innovation and Choice Online Act (AICO) into law before the midterm elections. Amazon and Alphabet have rallied forces in opposition to the antitrust measure whose principal goal is to halt “self-preferencing,” or the ability of online giants to use their market strength in one area to help boost sideline subsidiaries through preferential treatment. For instance, Alphabet using its wholly-owned search engine Google to promote its own shopping or travel products. Continue reading Big Tech Fights Antitrust Bill as Congress Moves Toward Vote