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The Latest Breaking News from Meta

The recent news is that Facebook’s parent, Meta, had record earnings that have driven the stock up over 20% in trading. In the world of social media, Facebook is ubiquitous. Coming from humble beginnings as a Harvard student’s pet project, it’s now expanded to 2.89 billion users worldwide, making it…

Tribune News Service

The FTC's Antitrust Radicals Are Rebuked Again in Federal Court

The FTC is trying to seize new powers to regulate the economy.

Reason

Meta, Alphabet target middle managers with tech jobs cuts

SAN FRANCISCO: As Meta Platforms Inc, Alphabet Inc and other Silicon Valley behemoths look to lighten payrolls after years of feverish hiring, a clear target has emerged: the middle manager.

The Times of India

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Meta wants teens to save its metaverse

Young metaverse users are spending little time on Meta's Horizon Worlds, opting instead for its competitors' products.

Fortune

Users have avoided Meta's metaverse flagship so far, so the company is looking to bring in teen users

Zuckerberg’s focus on the virtual world is still going strong.

Fortune

High-profile lawsuit against Meta can be heard in Kenya, Nairobi court rules

Decision on case of ex-Facebook moderator, who claims the work left him with PTSD, hailed as win for accountability of big tech in Africa

The Guardian - UK

A clear target emerges in tech layoffs: Middle managers

As Meta Platforms Inc., Alphabet Inc. and other Silicon Valley behemoths look to lighten payrolls after years of feverish hiring, a clear target has emerged: the middle manager.

Tribune News Service

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Biden expected to assail Silicon Valley Big Tech in State of the Union address

President Joe Biden will reportedly attack Big Tech in his State of the Union address Tuesday in a bid to unite lawmakers in Washington concerned about the industry’s unprecedented influence and impact on all facets of American life.

Tribune News Service

Meta to buy VR startup Within after favorable court ruling

A federal judge has sided with Facebook parent Meta and cleared the way for the company to buy virtual reality startup Within Unlimited, the maker of the popular fitness app Supernatural

The Independent UK

Brian Merchant: How tech is changing LA — and how LA is changing tech

Is tech OK? It's not just the mass layoffs. It's that, to an alien observer, many of the most hyped ideas emerging from America's vaunted tech industry over the last few years would seem untethered from reality, if not outright unhinged.

Los Angeles Times

Australian losses to online marketplace fraud increase as scams become increasingly sophisticated

Consumer groups say online platforms like Facebook Marketplace and Gumtree need to do more to keep customers safe

The Guardian - AU

Tech's giants rush to put generative AI to work

The ChatGPT craze has industry leaders scrambling to show they're on top of the trend.

Axios

Why Reels is Mark Zuckerberg's biggest math problem

This is happening as the company announced short-form video from viral creators as a key part of its growth.

Fortune

Big Tech is making big AI promises in earnings calls as ChatGPT disrupts the industry

Companies like Google and Meta say to expect AI rollouts "very soon," but startups like OpenAI still pose a huge threat.

Fortune

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Fortune

Tech giants are pivoting to a 'Year of Efficiency'

The year ahead will be all about refocusing on priorities for tech giants.

Reuters

Nigeria asks social media giants to curb fake news ahead of election

Nigeria has asked Google and Meta to control the spread of fake news on their platforms ahead of a presidential election this month, Information Minister Lai Mohammed said on Friday.

Axios

Tech earnings reveal a powerful industry taking some licks

A new generation of tech workers and investors is seeing its first slowdown.

Asharq Al-Awsat

Google, Apple Disappoint as Tech Earnings Hit by Gloom

Google and Apple on Thursday reported downbeat results for the last quarter of 2022 as Amazon beat expectations, but warned that the coming months would be uncertain in a difficult moment for Big Tech. The tech titans posted earnings as shares in Meta skyrocketed a day after it reported better…

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The Conversation

Nipple ban on Instagram and Facebook reveals how bizarre our attitude is towards different genders

Some women consign themselves to breastfeeding in public toilets to prevent their apparently sexually explosive nipples causing offence. On hot days, meanwhile, males of all ages, shapes and sizes, peel off their tops without a second thought.

Tribune News Service

Meta Shares Soar Most Since 2013 on Zuckerberg’s Vision

Meta Platforms Inc. is headed for its biggest single-day gain in almost a decade after Chief Executive Officer Mark Zuckerberg laid out plans to make the social media giant leaner, more efficient and more decisive.

Fortune

Meta's CTO bemoans the company's philanthropy and perks as distractions that "create drag"

Philanthropy efforts, product features, and workplace perks? They just "create drag," says Meta CTO Andrew Bosworth.

Fortune

Mark Zuckerberg and Wall Street are finally meeting in the middle on the metaverse

The Meta chief executive satisfied investors Wednesday by pledging to trim costs, but he’s still all-in on Reality Labs.

Reason

More Cracks in the FTC's Aggressive Antitrust Plans, as Court Refuses To Ban Meta From Buying V.R. Fitness App

Plus: Trump teases new avenues of authoritarianism, interest rates raised again, and more...

Axios

Meta's good day

Wall Street liked what it heard in the Facebook parent's latest earnings, and the company also won a round with the FTC.

Asharq Al-Awsat

Meta Reports Sales Fall, but Beats Expectations

Facebook and Instagram owner Meta on Wednesday reported its first annual sales drop since the company went public in 2012, but the fall was less brutal than expected, sending its share price soaring. The social media giant said sales dropped one percent to $116.6 billion in 2022, while it also…

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