Facebook Has Strong Q3, Settles Cambridge Analytica Suit

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

Zuckerberg Responds to Sorkin’s Open Letter of Criticism

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

Jack Dorsey Announces Twitter’s Plan to Ban Political Ads

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

Tech Giants Ramp Up Lobbying as Legal Probes Continue

As lawmakers investigate Amazon, Apple, Facebook and Google for antitrust violations, these tech giants are boosting their spending on lobbying. Amazon spent $12.4 million, a 16 percent increase. In the first nine months of 2019, Facebook spent $12.3 million, almost 25 percent more than the same period last year. Apple and Microsoft increased their outlay, by 8 percent and 9 percent respectively. Although parent company Alphabet reduced spending on lobbying by 41 percent, Google spent $9.8 million through September 30. Continue reading Tech Giants Ramp Up Lobbying as Legal Probes Continue

Facebook Will Pay For News, But Will Not Mine or Sell Data

Facebook, which has had a mixed relationship with news media, debuted Facebook News, a section devoted to news stories from a range of publications including The New York Times, The Wall Street Journal, The Washington Post, BuzzFeed and Business Insider. Most notably, Facebook is paying for use of the content, inking some deals that top $1 million, and letting professional journalists choose some of the stories to be published. Chief executive Mark Zuckerberg urged all online platforms to support professional news outlets. Continue reading Facebook Will Pay For News, But Will Not Mine or Sell Data

TikTok Draws Concerns of U.S. Lawmakers, Growth Slows

Chinese short video app TikTok has had a total of 1.45 billion installs since debuting two years ago. It’s been installed 564 million times this year, and parent company ByteDance is considered the world’s largest startup, with a valuation of $75 million according to CB Insights. But, according to Sensor Tower data, Q3 2019 is the first quarter TikTok has seen a slowdown of user downloads, 4 percent from last year, to 177 million first-time users. U.S. lawmakers want to know if the app is a national security risk. Continue reading TikTok Draws Concerns of U.S. Lawmakers, Growth Slows

Major Tech Firms Are Taking Action to Combat Deepfakes

Ahead of next year’s U.S. Presidential election, social platform Twitter is planning to introduce a new policy that intends to help curb manipulated media including altered videos known as “deepfakes.” Twitter plans to create its first ever such policy regarding deepfakes and will seek feedback from the public in doing so. Meanwhile, Amazon Web Services has joined Facebook, Microsoft and others in the Deepfake Detection Challenge (DFDC) and will serve as a tech partner and committee member helping to oversee the challenge. Continue reading Major Tech Firms Are Taking Action to Combat Deepfakes

Facebook to License News From Dow Jones Media Outlets

News Corp and Facebook inked a deal that will let the social media platform license headlines from The Wall Street Journal and other Dow Jones media outlets including the New York Post for its ad-free news section. The Washington Post, BuzzFeed News and Business Insider are other publications that have reached similar arrangements with Facebook. The New York Times is in talks with Facebook, but has not revealed whether it is close to a deal. News Corp’s deal was complicated by WSJ’s digital subscription business model. Continue reading Facebook to License News From Dow Jones Media Outlets

Disinformation From Iran and Russia Deleted by Facebook

Facebook revealed that it found and took down four disinformation campaigns, three of which originated in Iran and one in Russia, all of them aimed at users in the United States, Latin America and North Africa. The posts, which crossed ideological lines and covered multiple categories, touched on Middle Eastern conflict and racial strife and mentioned New York’s Democratic congresswoman Alexandria Ocasio-Cortez. The Russian campaign, comprised of 50 accounts, focused on the 2020 U.S. presidential election. Continue reading Disinformation From Iran and Russia Deleted by Facebook

House Hearings Consider Balance of Competition, Privacy

The House Judiciary Committee held hearings that included testimony about how tech giants Amazon, Apple, Facebook and Google have collected significant quantities of data that give them a dominant market power that endangers consumer privacy. House Republicans, however, noted that strong data protection regulations in Europe, as well as other privacy regulations, could hurt competition among these companies. The hearing is the latest effort in the House’s antitrust investigation into digital giants. Continue reading House Hearings Consider Balance of Competition, Privacy

Facebook’s Libra Hit by PayPal Pullout, Apple Chief’s Roast

PayPal just pulled out of Facebook’s cryptocurrency initiative Libra, introduced in June. At the time of release, Facebook partnered with 27 companies, including Mastercard, Uber and Visa, as well as PayPal. Libra is designed to be used internationally within Facebook’s own properties, such as Messenger and WhatsApp. Apple chief executive Tim Cook described Libra as a “blatant power grab,” saying that currencies should be the domain of countries and added that Apple had no plans to launch its own digital currency. Continue reading Facebook’s Libra Hit by PayPal Pullout, Apple Chief’s Roast

EU Court Rules Facebook Can Be Forced to Delete Content

The European Court of Justice ruled that its national court could force Facebook to globally remove a post ruled to be illegal or defamatory. The ruling arose from a suit filed by Austrian politician Eva Glawischnig-Piesczek, who objected to online comments that she was a “lousy traitor,” “corrupt oaf” and member of a “fascist party.” An Austrian court ruled the comments were defamatory, and she demanded that Facebook remove the comments and equivalent ones, not just in Austria but worldwide. Continue reading EU Court Rules Facebook Can Be Forced to Delete Content

Audiotapes Reveal Zuckerberg’s Take on Big Tech Breakup

In March, Senator Elizabeth Warren debuted her plan to break up big tech companies, from Amazon to Facebook. Her campaign paid for a billboard in San Francisco with the message in capital letters. Now, almost seven months later, leaked audiotapes reveal what Facebook chief executive Mark Zuckerberg thinks about her plans. In the tapes, Zuckerberg tells employees that, “if she gets elected president, then I would bet that we will have a legal challenge, and I would bet that we will win the legal challenge.” Continue reading Audiotapes Reveal Zuckerberg’s Take on Big Tech Breakup

Facebook Unveils New Collection of Virtual Reality Advances

At Oculus Connect, Facebook chief executive Mark Zuckerberg and AR/VR head Anthony Bosworth showed the next version of the Oculus Quest, which will offer hand-tracking without controllers or external sensors. Also unveiled is Horizon, a new form of social VR to rival VRChat and Rec Room; it will go into a closed beta in early 2020. Horizon provides tools for the user to build her own environments where people can congregate for multiplayer games. Other long-term plans include AR glasses, Live Maps and “shared spaces.” Continue reading Facebook Unveils New Collection of Virtual Reality Advances

Facebook Freezes 69,000 Apps for Collecting Personal Data

Last Friday, Facebook suspended 69,000 apps, stating that they had harvested users’ personal data. The investigation began in March 2018, after the Cambridge Analytica scandal, leading to the suspensions of those apps, associated with 400 developers. The Massachusetts attorney general Maura Healey investigated and found that 10,000 of the 69,000 apps were found to have “potentially misappropriated” personal data, often as a way to add new users. The Justice Department and the FBI are still investigating Cambridge Analytica. Continue reading Facebook Freezes 69,000 Apps for Collecting Personal Data

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