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The Latest Breaking News from Meta

‘Stop trying to be TikTok’: how video-centric Instagram sparked a revolt

Loyal users and Kardashians forced social network to partially retreat by demanding renewed emphasis on photo-sharing

The Guardian - UK

Like Bill Gates before him, Mark Zuckerberg is having a ‘Pearl Harbour’ moment

His company’s motto is ‘move fast and break things’ – but if it doesn’t move fast it’ll soon be broke

The Guardian - UK

Creators of popular Facebook reels converge in Kochi

Event a platform for collaboration among content creators

The Hindu

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The Weekly Wrap for Saturday, 30 July 2022

The crown prince of the world's biggest petrostate wants you to get excited about an experimental, zero-carbon city on the Red Sea.

inkl Originals

FTC’s Khan overruled staff to sue Meta over VR app deal

Federal Trade Commission Chair Lina Khan led her fellow Democrats in the agency’s majority vote to sue Meta Platforms Inc. this week, despite the staff recommending against bringing a case to challenge the company’s acquisition of Within Unlimited Inc., according to three people with knowledge of the decision.

Tribune News Service

Facebook, Instagram Posts Flagged as False for Rejecting Biden's Recession Wordplay

"The fact-checking industry has become a partisan arbiter of political disputes," notes Phil Magness.

Reason

This Is What Whales Are Betting On Meta Platforms

A whale with a lot of money to spend has taken a noticeably bullish stance on Meta Platforms. Looking at options history for Meta Platforms (NASDAQ:META) we detected 45 strange trades.

Benzinga

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Tyler Cowen: Welcome to the era of antisocial media

Have we reached peak social media?

Tribune News Service

Kenya orders Meta's Facebook to tackle hate speech or face suspension

Kenya's ethnic cohesion watchdog has given Meta's Facebook seven days to tackle hate speech and incitement on the platform relating to next month's election, failing which its operations will be suspended.

Reuters

Instagram pauses new features rollout following online community backlash

Celebrities including Kim Kardashian, Kylie Jenner and Chrissy Teigen were among those criticising the changes.

The Independent UK

Trevor Noah on Instagram: ‘Everything is an ad, and your feed is full of people you don’t follow’

Late-night hosts discuss the backlash from users and the Kardashians, and the DoJ investigation of Trump

The Guardian - US

In a 3rd test, Facebook still fails to block hate speech

Facebook is letting violent hate speech slip through its controls in Kenya, according to a new report from the nonprofit groups Global Witness and Foxglove

The Independent UK

Meta Can't Buy V.R. Fitness Company, Must Make Its Own Competing App, Says FTC

Plus: A rebranded "Build Back Better," the two-party system creates "a disconnect between elites and non-elites," and more...

Reason

Meta officially cuts funding for U.S. news publishers

As the company moves forward with sweeping changes to the Facebook experience, news has become less of a priority.

Axios

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Axios

Reality crashes down on Meta

After a decade of unprecedented growth, Meta has finally hit a wall.

Asharq Al-Awsat

Russia Fines WhatsApp, Snapchat Owner over Data Storage Violations

A Russian court on Thursday fined Meta Platforms Inc's WhatsApp messenger and Snapchat owner Snap Inc for an alleged refusal to store the data of Russian users domestically, news agencies reported. Moscow has clashed with Big Tech over content, censorship, data and local representation in disputes that have escalated since…

Evening Standard

Meta revenues fall for the first time as advertising sales dry up

Meta shares have fallen almost 50% since the beginning of 2022

Asharq Al-Awsat

Facebook's Meta Posts First-ever Revenue Drop

Facebook-parent Meta reported on Wednesday its first quarterly revenue drop and a plunging profit as the social media powerhouse battles a turbulent economy and the rising phenomenon of TikTok.

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ABC News

Facebook parent company Meta reports first-ever losses for global tech giant

The revenue losses come as the industry contends with market instability, growth slowdowns, and increasing competition between platforms.

The Guardian - US

Meta’s growth comes to screeching halt as company projects first revenue drop

The company in its second-quarter earnings report said it anticipates lower than predicted revenue of $26bn to $28.5bn

Axios

Meta posts its first-ever quarterly revenue decline

The company faces competition, regulation and the cost of its metaverse pivot.

WEKU

Facebook's parent company reports a drop in revenue for the first time ever

CEO Mark Zuckerberg says Meta will slow hiring and tighten its budget. Soaring inflation, interest rate hikes and other economic woes have affected the digital advertising the company depends on.

Input

FTC takes first major step in blocking Meta's monopoly on the metaverse

The FTC filed a complaint to block Meta's acquisition of Within, the developer of VR fitness app, Supernatural.

The Independent UK

FTC acts to block Meta from buying VR company, fitness app

Federal regulators have taken legal action to block Facebook parent Meta and its CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural

Dynamite News

Social Media: Meta set to shut down its private messaging app for couples

According to The Verge, this app, launched in 2020, comes from Meta's New Product Experimentation (NPE) team, which develops experimental apps and services. Read more on Dynamite News:

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