Since 2015, Twitter chief executive Jack Dorsey and the company board have been warned annually about internal cybersecurity risks. In fact, there are about 1,500 employees plus contractors with the power to make changes in 186 million daily user accounts, and the company had experienced breaches due to internal sources. Then, on July 15, hackers tricked employees to compromise 130 Twitter accounts, including those of Jeff Bezos, Joe Biden, Barack Obama and Elon Musk, stealing data from eight unidentified accounts. Continue reading Latest Twitter Hack Puts Spotlight on Internal Security Issues

In the quarter ending June 30, Twitter’s number of daily users rose 12 percent from the previous quarter to 186 million, while revenue dropped 19 percent from a year earlier to $683 million. The former number surpassed the expectations of analysts polled by FactSet whereas the latter was below the predicted $702 million estimate. It adds up to a $1.23 billion loss, impacted by a reversal of a $1+ billion tax benefit in 2019. Twitter has not provided forecasts for revenue or operating income in its latest earnings report. Continue reading Twitter Reports Increase in Daily Users But a Drop in Revenue

On Wednesday, scammers launched one of the most audacious attacks in recent memory, posting messages from the Twitter accounts of Joe Biden, Barack Obama, Kanye West, Bill Gates and Elon Musk that if people sent Bitcoin, the famous person would send back double the money. The first attack targeted high-profile cryptocurrency leaders and companies, but soon broadened to include a list of prominent U.S. politicians and entertainment and tech executives. It appears that an internal Twitter account was involved in the attacks, but it has yet to be determined whether an employee was willfully complicit. Continue reading Prominent Twitter Accounts Hacked for Cryptocurrency Fraud

Tech blogger and app researcher Jane Manchun Wong discovered that Twitter is developing a new verification service. The original 2016 service placed a blue-and-white checkmark next to a verified personal account, brand or company. The service was halted in 2017 after it verified an account of Jason Kessler, an organizer of the Unite the Right rally in Charlottesville, Virginia. According to Twitter co-founder and chief executive Jack Dorsey, the company planned to expand the service in 2018 but didn’t have the bandwidth to do so. Continue reading Twitter Is Developing a New, Transparent Verification System

A KPMG report revealed that 67 percent of tech sector employees fear losing their jobs to automation and 70 percent worry their jobs will be eliminated due to the economic downturn. In other industries, only 44 percent of workers are concerned about losing their jobs to automation and 57 percent worry their jobs will disappear. Conducted in April, the survey queried 1,000 full-time/part-time workers, of whom 223 were in the tech sector. Twitter founder and CEO Jack Dorsey stated that, in the future, AI will write its own software. Continue reading Tech Sector Workers Fearful of Losing Jobs to AI Automation

Apple, Facebook, Microsoft and Twitter were among the first U.S. companies to send their employees home as the coronavirus spread. Now, as they reopen their campuses, they are also allowing some of employees to continue to work from home. If that policy becomes widespread, it will be a major change from the college-like corporate campuses the companies built to encourage creativity and spontaneous interactions. Working from home will be its own perk and allow companies to broaden their search for workers. Continue reading Tech Firms Consider Remote Work Options After Coronavirus

Twitter and activist investor Elliott Management have come to an agreement to keep chief executive Jack Dorsey in his position, at least for now. Elliott Management, a $40 billion hedge fund that has a 4 percent stake in Twitter, sought to oust Dorsey from his position, claiming that, by splitting his attention between Twitter and Square, the chief executive let the former company lose its competitive edge and slip behind rivals. On February 21, Elliott nominated four candidates for Twitter’s board to add to the pressure. Continue reading Twitter Settles with Activist Investor, Dorsey Keeps Position

Twitter revealed that, in Q4, revenue rose 11 percent to $1.01 billion, the first time that quarterly revenue topped the billion-dollar mark, and surpassing the $992 million projected by Wall Street analysts. The company stated that income was $118.8 million, with costs rising 22 percent from a year earlier. Its operating income, a closely watched number, was $153 million, down from $207 million the previous year and lower than the $161 million predicted by analysts surveyed by FactSet. Shares rose about 15 percent. Continue reading Shares Rise as Twitter’s Revenue Passes $1B for First Time

Facebook is dealing with yet another privacy situation. Since April of last year, the company has been reviewing how individuals use the network to share data with third parties. In the process, Facebook opted to remove or restrict some of its developer APIs, including the Groups API. These changes were intended to improve the interface between Facebook and any apps used to integrate with groups. However, the ongoing review discovered that about 100 third-party app developers had access to the personal data of members of several groups, and “at least 11 partners accessed group members’ information in the last 60 days,” according to Konstantinos Papamiltiadis, head of platform partnerships for Facebook. Continue reading Developers Accessed Private Data From Facebook Groups

Facebook chief executive Mark Zuckerberg predicted a “tough year” ahead with the lead-up to the 2020 presidential elections, but the company showed strong Q3 earnings. FactSet said Facebook enjoyed $17.7 billion in total sales and $6.1 billion profit, exceeding Wall Street expectations. In after hours trading, shares rose 5 percent, having already risen more than 43 percent to date. Facebook also agreed to pay U.K.’s privacy regulator a £500,000 ($643,000) fine for its role in the Cambridge Analytica scandal. Continue reading Facebook Has Strong Q3, Settles Cambridge Analytica Suit

Yesterday we reported that Jack Dorsey announced Twitter would ban all political ads, placing pressure on Mark Zuckerberg to reconsider Facebook’s laissez-faire approach to such content. As the CEOs’ opposing philosophies are generating a great deal of media buzz, screenwriter and director Aaron Sorkin published an open letter to Zuckerberg, criticizing the chief executive for not doing his part to stop the spread of misinformation on the social network. In response, Zuckerberg used lines from the Sorkin-penned 1995 film “The American President” to essentially call Sorkin a hypocrite. Continue reading Zuckerberg Responds to Sorkin’s Open Letter of Criticism

Twitter chief executive Jack Dorsey revealed yesterday that the social platform would ban all political advertisements. Dorsey believes such content has “significant ramifications that today’s democratic infrastructure may not be prepared to handle,” and that manipulated videos and the spread of misinformation are creating challenges at an “overwhelming scale.” The move adds another layer to the debate over online advertising, social media and free speech — especially in the political arena — and increases the pressure on Facebook CEO Mark Zuckerberg to reconsider his laissez-faire approach. Continue reading Jack Dorsey Announces Twitter’s Plan to Ban Political Ads

Twitter’s shares dropped 20 percent with the news that revenue and profit in Q3 were below Wall Street expectations. The company added six million more users in Q2 — for a total of 145 million — likely due to changes that allow users to follow content of greatest interest to them. Twitter also reported that its machine learning-enabled tools now remove fully half of all the abusive tweets on its platform without relying on anyone to report them. This change is much welcomed given the platform’s persistent problem of abuse. Continue reading Twitter Tackles Abusive Tweets, Ad Glitches Hurt Revenue

Google, in cooperation with its internal tech incubator Jigsaw, released a large number of deepfakes, which have been added to the FaceForensics benchmark run by the Technical University of Munich and the University of Naples Federico II. The deepfakes will be available for free to researchers developing detection techniques. Previously, Google released text-to-speech models as part of the AVspoof 2019 competition to develop systems to distinguish between real and computer-generated speech. Continue reading Google Offers Deepfakes for Researching Detection Methods

Last week, hackers took over the Twitter account of that company’s chief executive Jack Dorsey, using SIM-swapping, a technique that lets hackers access social media, email, financial accounts and other sensitive data. SIM-swapping, by which hackers take over the target’s phone, is being used to steal money and take over the “online personae” of celebrities, politicians and other notable people. In response, Twitter temporarily turned off the feature that allows users to send tweets via text message. Continue reading Hackers Increasingly Use SIM-Swapping to Hijack Accounts