Meta

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EU's Fine Against Amazon Was Huge. Meta's Is Even Bigger

Facebook parent hit with record $1.3B penalty in longtime privacy case over US cybersnooping fears

(Newser) - The European Union slapped Meta with a record $1.3 billion privacy fine Monday and ordered it to stop transferring user data across the Atlantic by October, the latest salvo in a decade-long case sparked by US cybersnooping fears. The penalty fine of 1.2 billion euros from Ireland's...

An Obituary for Mark Zuckerberg&#39;s Metaverse
The Metaverse
Is Dead, and Meta
May Be Next
OPINION
May 9, 2023 4:24 PM CDT

The Metaverse Is Dead, and Meta May Be Next

Ed Zitron at Business Insider writes a scathing indictment of the CEO's leadership

(Newser) - The Metaverse still exists, but Ed Zitron at Business Insider has written an obituary for Mark Zuckerberg's brainchild. Literally: "The Metaverse, the once-buzzy technology that promised to allow users to hang out awkwardly in a disorientating video-game-like world, has died after being abandoned by the business world,"...

Infamous Online Scammer May Have Been Unveiled
Infamous Online Scammer
May Have Been Unveiled
longform
Apr 2, 2023 5:15 PM CDT

Infamous Online Scammer May Have Been Unveiled

ProPublica digs into lucrative story of 'OBN,' who has tricked Instagram into banning accounts

(Newser) - It's no surprise to learn that celebrities, even lesser ones, can make big money plugging products on Instagram. And as ProPublica explains, that has led to a lucrative hustle scammy in nature by those who know how to manipulate the system. The story focuses on an mysterious online figure...

Zuckerberg on Latest Big Job Cuts: 'This Will Be Tough'

Facebook parent Meta to slash 10K jobs in recruiting, tech, business through May

(Newser) - Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs. The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then...

New Meta App Could Be Rival to Twitter, Mastodon

Sources say decentralized text-based app is codenamed P92

(Newser) - After apparently imitating Twitter's pay for verification plan , Meta is now working on its own Twitter-like service. Facebook's parent company has confirmed a report from MoneyControl that it is in the early stages of creating an app that could be a rival to Twitter and other competitors. "...

More Meta Layoffs Ahead, Before Zuckerberg's Paternity Leave

Thousands of employees could be let go as soon as this week as company looks to keep flattening

(Newser) - Mark Zuckerberg is set to go on "imminent" paternity leave for the birth of his third child, and another round of his employees are set to go on permanent leave before that, reports Gizmodo . The number of heads to roll isn't clear, but Bloomberg says, citing insiders, that...

Meta: Give Us Money, ID and We'll 'Verify' Your FB, IG

You'll get a special badge for that $14.99 you're forking over ($11.99 for the web)

(Newser) - Last year, Elon Musk's Twitter launched its Twitter Blue subscription service , a paid verification that offers users a blue check mark next to their name, as well as other perks, like being able to edit your tweets. Now Meta is following suit with something similar: CEO Mark Zuckerberg announced...

Meta Stock Is Having Best Day in a Decade

Parent company of Facebook has investors optimistic about 2023

(Newser) - Thursday is turning out to be a very good day for Facebook parent company Meta and CEO Mark Zuckerberg. Shares in the company had surged 26% by midday, reports the Wall Street Journal . Assuming the pace keeps up, this will wind up being the company's best stock day since...

Meta Says It Lost Nearly $14B on VR Project Last Year

Zuckerberg says 2023 will be 'year of efficiency'

(Newser) - While Mark Zuckerberg's bet on virtual reality could still pay off, it's definitely been an expensive gamble: Meta said Wednesday that its Reality Labs division had a $4.28 billion operating loss in the fourth quarter of 2022, bringing its losses for the year to $13.7 billion,...

Meta Decides to Welcome Trump Back
Meta Decides
to Welcome
Trump Back
Jan 25, 2023 7:05 PM CST

Meta Decides to Welcome Trump Back

Facebook, Instagram suspensions to be dropped 'in coming weeks'

(Newser) - Two years after former President Donald Trump was suspended from Facebook and Instagram over his posts supporting the insurgents who attacked the Capitol, Meta has decided to welcome him back. The announcement was made in a blog post by Nick Clegg, the company's president of global affairs, the BBC...

Climate Misinformation Soars on Musk&#39;s Twitter
Climate Misinformation
Soars on Musk's Twitter
NEW REPORT
Jan 19, 2023 1:29 PM CST

Climate Misinformation Soars on Musk's Twitter

Tweets containing terms linked to climate change denial rose 300% last year

(Newser) - Search for the word "climate" on Twitter and the first automatic recommendation isn't "climate crisis" or "climate jobs" or even "climate change" but instead "climate scam." Clicking on the recommendation yields dozens of posts denying the reality of climate change and making misleading...

Clause Doesn't Safeguard Meta From $414M Fine

Regulators ban company from forcing users to agree to personalized ads

(Newser) - European Union regulators on Wednesday hit Facebook parent Meta with hundreds of millions in fines for privacy violations and banned the company from forcing users in the 27-nation bloc to agree to personalized ads based on their online activity. Ireland's Data Protection Commission imposed two fines totaling 390 million...

Meta Agrees to Compensate Every US Facebook User

But they might get only $2 over Cambridge Analytica data harvesting

(Newser) - American users of Facebook could be in for a small payout as Meta has agreed to pay $725 million to settle a class action lawsuit linked to the Cambridge Analytica data harvesting scandal. It's the "largest recovery ever achieved in a data privacy class action and the most...

Meta Sued Over Hate Speech Posted During Tigray Fighting

Filing says crises in Africa are a low priority for Facebook

(Newser) - Two Ethiopians have filed a lawsuit against Facebook's parent company, Meta, over hate speech they say was allowed and even promoted on the social media platform during their country's deadly Tigray conflict. Former Amnesty International human rights researcher Fisseha Tekle is one petitioner in the case filed Wednesday,...

Oversight Board Slams Meta's Unequal Treatment of VIPs

'Cross-check grants certain users greater protection than others'

(Newser) - An oversight board has found that Facebook and Instagram's VIP program creates an unequal environment where celebrities, politicians, and business partners receive preferential treatment. As NPR reports, "in some cases, their posts are exempted from Meta's rules entirely." Meta ordered a review of its "cross-check"...

Mark Zuckerberg Has a Problem With Apple, Too

CEOs of Meta, Spotify, Fortnite also complain of company's 'monopoly'

(Newser) - Elon Musk may have eased his censure of Apple , but his initial attacks have ushered in a heap of criticism from elsewhere. Fellow billionaire Mark Zuckerberg echoed Musk's complaints that Apple has too great a hold on the app market on Wednesday. "Apple has sort of singled themselves...

Trump Run Leads to Big Shift on Facebook

Meta memo says 'long-standing policy' on politicians mandates Trump won't be fact-checked

(Newser) - Yes, former President Trump is running for the Oval Office again. And no, Facebook won't be fact-checking what he says during that campaign, and perhaps afterward, if he gets into office. CNN got its hands on a memo issued Tuesday by Meta's "news integrity partnership" team to...

'I Got This Wrong': Meta to Move Forward With Mass Cuts

Mark Zuckerberg announces workforce will shrink by 13%

(Newser) - Meta CEO Mark Zuckerberg on Wednesday confirmed that the first mass layoffs in the company's history are happening, with 11,000 "talented employees"—or 13% of the workforce—to be cut. Meta's hiring freeze will also persist through Q1. The Wall Street Journal confirms it marks...

For First Time, Zuckerberg Readies Mass Layoffs

Meta, parent of Facebook, will reportedly lay off thousands of people this week

(Newser) - Twitter employees aren't the only tech staffers facing a bleak November : Facebook parent company Meta is expected to announce its biggest wave of layoffs since Mark Zuckerberg founded it in 2004, reports the New York Times . The numbers are unclear, but Wall Street Journal predicts "many thousands" of...

Meta Stock Plummets After Dismal Earnings Report
Meta Stock Plunges
After a Dismal
Earnings Report
the rundown
Oct 27, 2022 12:00 AM CDT

Meta Stock Plunges After a Dismal Earnings Report

Analysts are concerned about the future of Facebook's parent company

(Newser) - Meta's third-quarter earnings call Wednesday did not have great news for investors: For the second consecutive quarter, revenue declined, and it's forecasted to do so again next quarter. Meanwhile, costs and expenses rose 19% year over year. Shares plummeted in extended trading after the call, continuing what CNBC...

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