Facebook unveiled Facebook Pay, a system to enable payments across its own platform as well as Messenger, Instagram and WhatsApp. The user will be able to send money to people, shop and donate to fundraisers. According to the company, Facebook Pay, which is completely separate from the company’s newly released Calibra wallet and Libra cryptocurrency network, is built on “existing financial infrastructure and partnerships.” Facebook Pay for Facebook and Messenger will debut in the U.S. this week. Continue reading Facebook Debuts Payments System For Its Platform, Apps

On November 13, Twitter is launching Topics, a feature aimed at new or intermittent users that allows them to follow more than 300 subjects. By following a topic, the user will see tweets from experts in that arena. Twitter began testing the feature on Android in August. Topics team lead Rob Bishop noted, “the main reason that people come to Twitter is to keep up on the things that they’re interested in … [but] the challenge is it’s really quite difficult to do that on Twitter day to day.” Continue reading Twitter Users Can Follow 300+ Subjects via Topics Feature

California attorney general Xavier Becerra filed a lawsuit in California Superior Court to obtain Facebook documents and email correspondence between chief executive Mark Zuckerberg and chief operating officer Sheryl Sandberg. Becerra revealed that, over an 18-month period, Facebook has “ignored or resisted” his dozens of requests for these documents. Meanwhile, internal Facebook documents recently made public revealed the company was more interested in defeating rivals than improving customer privacy. Continue reading California Attorney General Sues Facebook For Documents

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

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

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

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

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

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

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

Companies that have been paying social media influencers billions of dollars to promote their brands are thinking twice about the practice given there is no practical way to measure its impact. Some influencers have also alienated brands by deliberately inflating their number of followers or angered consumers by promoting products they don’t actually use. Early adopter Ipsy, an online cosmetic brand, for example, has recently pulled back on using online influencers, whose posts have been compared to 30-second TV ads. Continue reading Brands Rethink Use of Influencers Given Widespread Fraud

In Interbrand’s latest Best Global Brands report, Facebook fell out of the top ten, dropping to 14th due to an estimated declined value of 12 percent. Amazon moved up to 3rd and The Walt Disney Company moved up to 10th. Apple remains in the top spot, with Google right behind. Previously, Facebook had grown in value each year of its existence up until 2017, when it came in 8th place on the list. But with incidents like the Cambridge Analytica scandal on its heels, the company’s value has dipped. 

Continue reading Facebook Falls, Amazon Rises, and Apple Holds Top Spot