META SOCIAL MEDIA POLICIES
Meta eyes record $95 billion equity raise to fund AI expansion
The Facebook parent has launched public offerings worth about $35 billion in common and preferred stock, and said it also plans to launch a separate at-the-market share sale program worth up to $60 billion.
Meta launches $35 billion stock offering to fund AI expansion
Meta Platforms has kicked off public offerings nearly reaching $35 billion as part of its ambitious AI expansion strategy. The tech giant also plans to roll out a significant share sale program, potentially worth up to $60 billion, in the near future. These efforts are aimed at bolstering its investments in AI infrastructure and data centers.
Meta to create non-voting shares to fund AI expansion, retain Zuckerberg’s control
Meta Platforms plans to introduce publicly traded non-voting Class C shares to fund AI investments, acquisitions and employee compensation while preserving Mark Zuckerberg’s voting control. The proposed one-for-one share distribution is expected to begin trading in January 2027.
'Brazil is no one's backyard': Re-elected Brazilian president Lula da Silva
Luiz Inácio Lula da Silva has recently been re-elected as the President of Brazil. During his victory speech, he emphasized Brazil's status as an independent nation. Lula stated that the new government will reform the administrative system significantly. He aims to enhance public involvement in the decision-making processes that affect them.
Greece passes social media ban for children under 15
In a significant move towards online safety, Greece's parliament has enacted a law banning social media usage for children under 15, set to take effect on January 1, 2027. Prime Minister Kyriakos Mitsotakis highlighted the importance of implementing age verification methods to safeguard minors. This initiative, in collaboration with six other EU countries and the European Commission, aims to assist parents in controlling their children's social media habits.
Karen Frederick, a mom of two, built a $1 million jewelry business from home. All about Kole Jax Designs
In 2012, Karen Frederick launched Kole Jax Designs to intertwine her love for jewelry with her role as a mother. Through effective social media marketing, she quickly amassed a substantial following and revenue. By 2018, her business celebrated high seven-figure revenue, showcasing impressive annual growth. Karen believes in learning from setbacks and emphasizes that one should pursue entrepreneurship without waiting for ideal circumstances.
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Rhode Island sues Meta over alleged tolerance for scam advertising
The suit, filed by Rhode Island Attorney General Peter Neronha in Providence Superior Court, accuses Meta of unlawfully profiting from and participating in the creation of billions of dollars in scam advertising - even as it assured its billions of users that it was working diligently to protect them.
87 million Facebook users & political targeting: What was the Cambridge Analytica scandal that is back in focus as Meta faces a $25 billion hit
Meta Platforms has been ordered to pay $25 billion for misleading consumers about data privacy in New Mexico. The ruling follows a jury finding that the company misrepresented access to personal information. New Mexico Attorney General Raúl Torrez initiated the case, citing violations of consumer protection laws. This penalty is one of the largest ever imposed on a company by a state.
Meta’s AI app Muse crosses 10 million US downloads within 40 days
Meanwhile, Zuckerberg highlighted in his post that the most common use case for Muse is shopping, with more than a quarter of people using the platform engaging in this activity with an average purchase size over $200.
Meta beats expectations but legal penalties hit profit amid AI race
Meta beat investor expectations for third-quarter revenue on Wednesday as it doubles down on a global AI race but the social media giant's profits took a hit due to an $18 billion legal settlement with nearly all US states. The company reported $9.86 billion in profits from July to September, almost 50 percent below investor expectations, which Meta said was dragged down by a $9.9 billion charge related to the settlement.
Meta sued in Australia class action over alleged social media harm to children
A class action lawsuit has been filed in an Australia court against Meta Platforms' Facebook and Instagram, alleging the social media platforms exposed children to harmful content and kept them addictive through algorithms.
Meta ordered to pay New Mexico $25 billion after jury finds it deceived Facebook users about privacy
Jurors in September found Meta liable for over 43 million violations of New Mexico consumer protection laws when a political consulting firm, Cambridge Analytica, harvested Facebook user data to generate targeted political ads for the 2016 election.
EssilorLuxottica's smart glasses boom runs into tougher regulatory scrutiny
Smart glasses that resemble ordinary eyewear are under increased scrutiny from European regulators and advocacy groups, leaving investors questioning whether sales can keep booming as Ray-Ban maker EssilorLuxottica
Meta tells Brazil's electoral court it treats Lula and Flavio Bolsonaro equally ahead of Sunday vote
Meta has taken steps to comply with a court order for equal treatment of presidential candidates in Brazil. The electoral court directed the company to ensure balanced platform coverage before the upcoming runoff election. This follows allegations from President Luiz Inacio Lula da Silva's campaign regarding biased algorithms favoring his opponent, Flavio Bolsonaro. Meta has implemented measures to uphold electoral advertisement regulations amidst growing tensions.
Meta's board signals 'recurring' failures in election content moderation
The oversight board for social media giant Meta said Tuesday it found "recurrent enforcement failures" in content moderation related to the US midterm elections and Brazil's presidential election. The identified failures were often cases of "over-enforcement that suppresses political speech, and under-enforcement that undermines electoral integrity," said the board, which independently checks moderation on Meta's Instagram, WhatsApp and Facebook platforms.
Skydance bets big on AI-driven content
Paramount Skydance has completed its acquisition of Warner Bros Discovery for $110 billion. The company plans to focus on reducing costs through technology rather than employee layoffs. Skydance now owns an extensive range of film, TV, and news organizations, including HBO Max and CNN. The merger comes amid increasing competition from tech giants like Netflix and Amazon.
Meta's global affairs officer Joel Kaplan to leave company after 15 years
Kaplan was elevated to Meta's top policy role in January last year, as the social media giant rolled back US fact-checking, ended diversity initiatives and sought closer ties with Trump.
Meta’s AI spending and Muse adoption set to test Zuckerberg’s strategy
Meta's upcoming third-quarter results will reflect its significant investments in artificial intelligence technologies and products. The company's revenue is expected to grow by 23.8%, despite intense competition from rival firms. Analysts predict a decline in net income, estimating it at $15.44 billion for the quarter. Investor confidence has increased due to positive responses towards its Muse personal assistant and new AI models.
Meta's AI spending, Muse assistant adoption in focus for quarterly results
Meta is gearing up to unveil its third-quarter earnings, driven mainly by notable investments in AI and the innovative Muse assistant. Recent launches in AI technology have uplifted investor sentiment, yet analysts predict a significant spike in capital expenditures leading to cash depletion. Although revenue growth is anticipated, it is likely to be slower compared to previous periods due to competitive challenges.
The Social Reckoning: Looking back at Facebook’s 2021 controversy and where Meta stands today
Aaron Sorkin’s latest film focuses on Facebook's past controversies and the implications of its business model. The story centres around whistleblower Frances Haugen and her allegations regarding Facebook's internal practices. Meta, formerly Facebook, is navigating ongoing concerns about safety and user engagement. The film, while offering a dramatic retelling, critiques the effectiveness of Meta’s strategies.
AI agents are only as good as the personal information you share, and that raises privacy concerns
Many have welcomed AI agents into their online lives, and raved about how personalized assistants like Muse can handle everyday tasks with ease - from snagging a dinner reservation or planning a trip, to organizing email inboxes. But like other AI bots, the agents are only as good as the information they have access to. They perform better the more they know about a user - and perhaps also that person's friends, family and even colleagues. That raises privacy concerns.
Govt asks Meta to ensure its recommendation systems do not expose users to a limited set of narratives
The advisory by the Ministry of Electronics and Information Technology (MeitY), dated October 10, asked Meta to undertake appropriate measures to provide adequate context in relation to photographs, videos, graphics, or other content depicting ongoing public events, particularly where the authenticity, date, location or circumstances of such content may not be readily apparent to users.
Brazil elections: Lula, Bolsonaro face off in first debate ahead of Presidential runoff
Brazil's presidential election runoff includes a crucial debate between President Luiz Inacio Lula da Silva and Senator Flavio Bolsonaro. Lula's campaign has shifted, engaging younger influencers for improved social media strategies to connect with voters. Bolsonaro has criticized Lula's promises, accusing him of deceiving people for electoral gain. Recent polls show a tightening race, and both candidates are ramping up their efforts.
Deepfakes muddy protest coverage as online platforms restrict individual accounts
Several AI-generated clips have gone viral on Instagram, Facebook and X, drawing millions of views and comments. A recent viral clip of a woman criticising the protests, for instance, led users to an Instagram profile that regularly posts AI-generated political content.
Meta employees confirm in internal communications of alleged bias against Lula in Brazilian elections, reports newspaper
Meta's employees confirmed in an internal communication that the company had restricited Brazilian President Luiz Inácio Lula da Silva’s accounts during the Brazilian elections. The development followed Brazil's top electoral court ruling that the tech company must ensure equal treatment of the presidential candidates ahead of the October 25 runoff elections. The ruling had come after Lula filed a complaint accusing Meta of restrictions in favour of opposition candidate Flavio Bolsonaro.
US states sue AI giant OpenAI, saying its popular chatbot is hurting children and deceiving adults
Eight US states have initiated lawsuits against OpenAI, alleging violations of consumer protection laws on various grounds. The accusations include harming children and misleading adults in a pursuit of profit. OpenAI's ChatGPT is claimed to provide dangerous advice and encourage harmful behavior among teenagers. The lawsuits assert that OpenAI has relied on inadequate safety testing for its chatbot products.
Govt seeks expedited development of AI tool to detect child sexual abuse material online
The issue came up for discussion during Union Minister for Women and Child Development Annpurna Devi's visit to the office of the National Commission for Protection of Child Rights (NCPCR) here.
Philippine lower house approves bill restricting minors' social media access
The Philippines is the latest country, from Greece and Portugal to Australia, Malaysia and Indonesia, to try to curb social media use by minors, as concern grows over its effects on child health and safety.
Florida asks court to force Meta to change Facebook, Instagram for teens
In a filing in a Pasco County court, Florida Attorney General James Uthmeier asked for a temporary injunction forcing Meta to identify and remove users in the state under the age of 14 from those platforms, limit teens there to two hours a day across all apps and turn off features like autoplay and infinite scroll for them.
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