Facebook and Instagram parent company Meta’s investors wiped at least $80 billion off the market value, while the stocks for the company have plunged at least 23% as of Thursday. This comes after the company released its third-quarter report which showed that the profits have halved by 52% to $4.4 billion while the reported quarterly revenue was $27.7 billion.&nbsp;

Meta’s report on Wednesday also reflected its second straight quarterly decline. Since the report was released there was a 25% plunge in Meta’s share price and as the markets opened the next day the situation worsened when the price briefly dipped below $100 which was reportedly the lowest since 2016.&nbsp;

Meanwhile, advertisers have also reined in spending amid a downturn in the global economy, which is a crucial revenue point for the company. Furthermore, Instagram and Facebook's parent company for the first time is also reportedly losing daily active users to competition from TikTok.&nbsp;

ALSO READ:&nbsp;<a href="https://www.wionews.com/technology/meta-warns-one-million-users-about-potential-data-leak-through-malicious-apps-523435">Meta warns one million users about potential data leak through malicious apps</a>

The third quarter report by Meta also showed an increase in spending by 19% when compared to last year which media reports have attributed to its spending on metaverse and short-form video-content product Reels. While Reality Labs, the company’s metaverse division, has reported a $3.7 billion loss in the past three months.&nbsp;

“Over time, these are going to end up being very important investments for the future of our business,” said Zuckerberg when investors expressed concern over the losses faced. He added that while the company is facing “near-term challenges on revenue” it has the fundamentals for a return to “stronger revenue growth.”&nbsp;

However, while the company has heavily invested in new products they have shown no results so far. In February, Meta also saw the biggest one-day loss in history for any US-based company after the share price dipped by 26%.&nbsp;

ALSO READ:&nbsp;<a href="https://www.wionews.com/business-economy/meta-shares-sink-22-as-facebook-loses-one-million-daily-users-450000">Meta shares sink 22% as Facebook loses one million daily users</a>

This has also affected Meta's CEO Mark Zuckerberg’s personal fortune after he lost more than $100 billion in 13 months bringing his net worth to $38.1 billion, said a report by Bloomberg. He reportedly holds more than 350 million shares in Meta and a 13% stake in the company. Once among the top three on Bloomberg’s Billionaires Index the Meta CEO’s rank is now 23rd as of Wednesday.&nbsp;

(With inputs from agencies)&nbsp; 
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Facebook and Instagram parent company Meta’s investors wiped at least $80 billion off the market value, while the stocks for the company have plunged at least 23% as of Thursday.

Facebook and Instagram parent company Meta’s investors wiped at least $80 billion off the market value, while the stocks for the company have plunged at least 23% as of Thursday. This comes after the company released its third-quarter report which showed that the profits have halved by 52% to $4.4 billion while the reported quarterly revenue was $27.7 billion. Meta’s report on Wednesday also reflected its second straight quarterly decline. Since the report was released there was a 25% plunge in Meta’s share price and as the markets opened the next day the situation worsened when the price briefly dipped below $100 which was reportedly the lowest since 2016. Meanwhile, advertisers have also reined in spending amid a downturn in the global economy, which is a crucial revenue point for the company. Furthermore, Instagram and Facebook's parent company for the first time is also reportedly losing daily active users to competition from TikTok. ALSO READ: Meta warns one million users about potential data leak through malicious apps The third quarter report by Meta also showed an increase in spending by 19% when compared to last year which media reports have attributed to its spending on metaverse and short-form video-content product Reels. While Reality Labs, the company’s metaverse division, has reported a $3.7 billion loss in the past three months. “Over time, these are going to end up being very important investments for the future of our business,” said Zuckerberg when investors expressed concern over the losses faced. He added that while the company is facing “near-term challenges on revenue” it has the fundamentals for a return to “stronger revenue growth.” However, while the company has heavily invested in new products they have shown no results so far. In February, Meta also saw the biggest one-day loss in history for any US-based company after the share price dipped by 26%. ALSO READ: Meta shares sink 22% as Facebook loses one million daily users This has also affected Meta's CEO Mark Zuckerberg’s personal fortune after he lost more than $100 billion in 13 months bringing his net worth to $38.1 billion, said a report by Bloomberg. He reportedly holds more than 350 million shares in Meta and a 13% stake in the company. Once among the top three on Bloomberg’s Billionaires Index the Meta CEO’s rank is now 23rd as of Wednesday. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Meta shares plunge to the lowest since 2016 after company reports less profits

Facebook parent company Meta has been slapped with a fine of USD 18 million by Turkey's competition authority for breaking competition laws. The authority said in a statement that Meta held a dominant position in personal social networking services and online video advertising and had obstructed competitors by merging data collected through its core services Facebook, Instagram and WhatsApp.

Reuters quoted a Meta Platforms spokesperson as saying that the company disagrees with the findings and will consider all options. The competition authority has said that Meta must act to reinstate competition in these markets. It has also asked Meta to prepare annual reports about steps it will take for the next five years.

The authority said that the amount of the fine was based on company's 2021 income. Meta can object to the decision in 60 days.&nbsp;

In 2021, the competition authority launched an investigation into WhatsApp, and then Facebook Inc., after the messaging app asked users to agree to let Facebook collect user data such as phone numbers and locations, a change that was rolled out globally.

Analysts have said social media companies are unlikely to abide in full by the law, that requires them to remove such material and to share user data with authorities.

(With inputs from agencies)

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Facebook parent company Meta has been slapped with a fine of USD 18 million by Turkey's competition authority for breaking competition laws. The authority said in a statement that Meta held a dominant position in personal social networking services and online video advertising and had obstructed competitors by merging data collected through its core services Facebook, Instagram and WhatsApp.

Facebook parent company Meta has been slapped with a fine of USD 18 million by Turkey's competition authority for breaking competition laws. The authority said in a statement that Meta held a dominant position in personal social networking services and online video advertising and had obstructed competitors by merging data collected through its core services Facebook, Instagram and WhatsApp. Reuters quoted a Meta Platforms spokesperson as saying that the company disagrees with the findings and will consider all options. The competition authority has said that Meta must act to reinstate competition in these markets. It has also asked Meta to prepare annual reports about steps it will take for the next five years. The authority said that the amount of the fine was based on company's 2021 income. Meta can object to the decision in 60 days. In 2021, the competition authority launched an investigation into WhatsApp, and then Facebook Inc., after the messaging app asked users to agree to let Facebook collect user data such as phone numbers and locations, a change that was rolled out globally. Analysts have said social media companies are unlikely to abide in full by the law, that requires them to remove such material and to share user data with authorities. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Meta fined by Turkish competition board for violating laws, fined USD 18.6 million

Messaging service WhatsApp has&nbsp;not been working since 12:07 PM (IST) on Tuesday and the operations resumed after more than two hours. According to Indian Express, the outage was confirmed by the online tool Down Detector, and by 1 PM (IST), the website had thousands of complaints from users living in India.&nbsp;

Similar reports were also coming from various parts of the world with Twitter users from the United Kingdom, Turkey and Italy also taking to other social media platforms to report the outage.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/one-third-of-users-regularly-get-their-news-from-tiktok-claims-new-study-528120" hreflang="en">One-third of users regularly get their news from TikTok, claims new study</a>

In the UK, BBC reported that the app was completely not working for some of the users.&nbsp;

According to BBC, the majority of users reported that they were unable to send or receive messages on the app but there were some cases where the app got stuck or it kept crashing.&nbsp;

"We're aware that some people are currently having trouble sending messages and we're working to restore WhatsApp for everyone as quickly as possible," said a spokesperson of the parent company Meta.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/kohinoor-churchill-and-ashish-nehra-rishi-sunaks-appointment-as-new-uk-pm-sparks-meme-fest-528138" hreflang="en">Kohinoor, Churchill and Ashish Nehra: Rishi Sunak's appointment as new UK PM sparks meme fest</a>

According to Reuters, a similar situation was also reported in France.&nbsp;

“WhatsApp stopped working for many users across France on Tuesday, with around 9,540 problems registered in the last 24 hours about the Meta Platforms owned service on the Downdetector.”&nbsp;

Messaging service WhatsApp has not been working since 12:07 PM (IST) on Tuesday and the operations resumed after more than two hours. According to Indian Express, the outage was confirmed by the online tool Down Detector, and by 1 PM (IST), the website had thousands of complaints from users living in India.

Messaging service WhatsApp has not been working since 12:07 PM (IST) on Tuesday and the operations resumed after more than two hours. According to Indian Express, the outage was confirmed by the online tool Down Detector, and by 1 PM (IST), the website had thousands of complaints from users living in India. Similar reports were also coming from various parts of the world with Twitter users from the United Kingdom, Turkey and Italy also taking to other social media platforms to report the outage. Also read | One-third of users regularly get their news from TikTok, claims new study In the UK, BBC reported that the app was completely not working for some of the users. According to BBC, the majority of users reported that they were unable to send or receive messages on the app but there were some cases where the app got stuck or it kept crashing. "We're aware that some people are currently having trouble sending messages and we're working to restore WhatsApp for everyone as quickly as possible," said a spokesperson of the parent company Meta. Also read | Kohinoor, Churchill and Ashish Nehra: Rishi Sunak's appointment as new UK PM sparks meme fest According to Reuters, a similar situation was also reported in France. “WhatsApp stopped working for many users across France on Tuesday, with around 9,540 problems registered in the last 24 hours about the Meta Platforms owned service on the Downdetector.”

WhatsApp suffers massive global outage that lasted for more than two hours

Meta CEO Mark Zuckerberg has publicly slammed Apple's i-Message service calling it unsafe. What explains this statement? Is Meta trying to win over Apple's clients? Molly Gambhir reports.

Gravitas: Meta CEO publicly slams Apple's i-Message

Meta, more colloquially known as Facebook has been ordered by the UK&nbsp;antitrust watchdog&nbsp;Competition and Markets Authority (CMA) to sell GIPHY Inc. This is the second instance when Meta has been ordered to sell the popular gif library.&nbsp;

Meta conceded the defeat and said it was disappointed by the decision.&nbsp;

“We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter.&nbsp;We are grateful to the Giphy team during this uncertain time for their business, and wish them every success,” said a Meta spokesperson.

Meanwhile,&nbsp;Stuart McIntosh, chair of the independent inquiry into the buyout said,&nbsp;“This deal would significantly reduce competition in two markets. It has already resulted in the removal of a potential challenger in the UK display ad market, while also giving Meta the ability to further increase its substantial market power in social media."

“The only way this can be addressed is by the sale of Giphy. This will promote innovation in digital advertising, and also ensure UK social media users continue to benefit from access to Giphy.”

As reported by WION, the watchdog, in November last year issued the first order to Meta citing the deal could harm the competitors. Reportedly, Meta bought GIPHY in 2020 for an estimated $400 million to integrate it with its other platforms viz. Instagram and WhatsApp.

<a href="https://www.wionews.com/technology/facebook-owner-meta-asked-to-sell-giphy-by-british-regulator-432991">Read more:&nbsp;Facebook-owner Meta asked to sell Giphy by British regulator</a>

However, CMA feared that the deal could limit other social media platforms' access to GIFs, which, in turn, would have made those sites less attractive to users.&nbsp;

"Without action, it will also allow Facebook to increase its significant market power in social media even further, through controlling competitors' access to Giphy GIFs," said Stuart McIntosh, who headed an inquiry into the buyout.&nbsp;

However, after the order, Meta decided to appeal the decision and went to&nbsp;Competition Appeal Tribunal in January, earlier this year.&nbsp;

<a href="https://www.wionews.com/technology/meta-appeals-british-regulators-ruling-that-asked-facebook-to-sell-giphy-442512">Read more:&nbsp;Meta appeals British regulator's ruling that asked Facebook to sell Giphy</a>

(With inputs from agencies) 
 
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Meta, more colloquially known as Facebook has been ordered by the UK antitrust watchdog Competition and Markets Authority (CMA) to sell GIPHY Inc. This is the second instance when Meta has been ordered to sell the popular gif library.

Meta, more colloquially known as Facebook has been ordered by the UK antitrust watchdog Competition and Markets Authority (CMA) to sell GIPHY Inc. This is the second instance when Meta has been ordered to sell the popular gif library. Meta conceded the defeat and said it was disappointed by the decision. “We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter. We are grateful to the Giphy team during this uncertain time for their business, and wish them every success,” said a Meta spokesperson. Meanwhile, Stuart McIntosh, chair of the independent inquiry into the buyout said, “This deal would significantly reduce competition in two markets. It has already resulted in the removal of a potential challenger in the UK display ad market, while also giving Meta the ability to further increase its substantial market power in social media." “The only way this can be addressed is by the sale of Giphy. This will promote innovation in digital advertising, and also ensure UK social media users continue to benefit from access to Giphy.” As reported by WION, the watchdog, in November last year issued the first order to Meta citing the deal could harm the competitors. Reportedly, Meta bought GIPHY in 2020 for an estimated $400 million to integrate it with its other platforms viz. Instagram and WhatsApp. Read more: Facebook-owner Meta asked to sell Giphy by British regulator However, CMA feared that the deal could limit other social media platforms' access to GIFs, which, in turn, would have made those sites less attractive to users. "Without action, it will also allow Facebook to increase its significant market power in social media even further, through controlling competitors' access to Giphy GIFs," said Stuart McIntosh, who headed an inquiry into the buyout. However, after the order, Meta decided to appeal the decision and went to Competition Appeal Tribunal in January, earlier this year. Read more: Meta appeals British regulator's ruling that asked Facebook to sell Giphy (With inputs from agencies) WATCH WION LIVE HERE:

Meta ordered to sell GIPHY for the second time by UK antitrust watchdog

Facebook, rechristened as Meta, is struggling with numbers, nearly a year after the rebranding, as per a report by Wall Street Journal. Horizon Worlds, a flagship product of Meta which attempted to provide a comprehensive Metaverse experience to the users, has faltered to take off.

Facebook, rechristened as Meta, is struggling with numbers, nearly a year after the rebranding, as per a report by Wall Street Journal. Horizon Worlds, a flagship product of Meta which attempted to provide a comprehensive Metaverse experience to the users, has faltered to take off. According to the publication, after the launch last year, Mark Zuckerberg-owned Meta had kept an ambitious target of having 500,000 monthly active users on board. However, the current number of users stands at a rather unflattering 200,000, thereby failing to meet internal performance expectations. Read more: Mark Zuckerberg 'loses' more than 118 million followers on Facebook - Here's why Consequently, the analysts at Meta have already reduced the projection to 280,000 by the end of the year. While the user numbers being low is an alarming situation, what's more distressing is that those logging in to Horizon Worlds, did not return to the platform after the first month. The report states that only nine per cent of the free virtual reality online video game has been explored by at least 50 people while the majority of the Metaverse has been left relatively unexplored. Notably, Horizon Worlds was Zuckerberg's USP for the platform. In the game, individuals can pick an avatar and pop into the virtual space to interact with one another. To double down on his venture, Zuckerberg earlier this week launched the $1,500 Quest Pro VR which contains an advanced mobile Snapdragon computer chip. The attempt is to further drum up excitement around the product Meta has developed. Read more: Meta's new Quest Pro headset, mixing real and virtual worlds, makes debut Since last year, Meta's shares have gone down more than 60 per cent, losing $700 billion in market value in the process. The problems have only been exacerbated in recent times for other platforms as well. As reported by WION, last week Meta issued a warning that the login information of around a million users was potentially compromised. Read more: Meta warns one million users about potential data leak through malicious apps According to the official statement, the leak happened due to “malicious apps”. The applications were listed on Google Play Store and the Apple Store as games and other types of apps to trick people into downloading them and accessed the phone through the Facebook welcome page. (With inputs from agencies) WATCH WION LIVE HERE:

Metaverse fails to take off, Horizon Worlds largely unexplored; shares tumble: Report

Russia has decided to add US-based tech giant Meta to its list of “terrorists and extremists,” according to a report by the Interfax news agency. The announcement was made by Russia's financial monitoring agency – Rosfinmonitoring – as the conflict gains momentum in Ukraine.&nbsp;

Russia's Prosecutor General's Office submitted a written request for this ban last week.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/live-russian-strikes-kill-14-in-ukraine-over-84-missiles-were-launched-524252" hreflang="en">Ukraine war LIVE | Russia adds Meta to 'terrorist &amp; extremist' list</a>

Meta, the parent company of Facebook, is owned by billionaire Mark Zuckerberg and in March this year, it was found guilty of “extremist activity” in Russia by a Moscow court. The case was filed after Meta was accused of allowing posts that called for violence against the Russian military in Ukraine.&nbsp;

As a result of this decision, people in Russia will not have any access to the services provided by Meta – which includes extremely popular social media platforms Instagram and Facebook. According to Insider, the ban can come into effect almost immediately depending on the government’s will.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/g7-to-hold-crisis-talks-on-russias-bomb-assault-on-kyiv-524408" hreflang="en">G7 to hold crisis talks on Russia's bomb assault on Kyiv</a>

Zuckerberg is already on the list of individuals who were barred by the Russian foreign ministry from entering the country back in April. The tech billionaire was part of a list that include US Vice President Kamala Harris, EO of LinkedIn Ryan Roslansky, and more than 900 other American citizens.&nbsp;

In the official statement, Rosfinmonitoring said that Meta has been biased towards the western countries in the coverage of the Ukraine-Russia crisis. They said that the company is “discriminating” against Russian news outlets and have restricted user access to outlets like Sputnik and Russia Today.&nbsp;

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Russia has decided to add US-based tech giant Meta to its list of “terrorists and extremists,” according to a report by the Interfax news agency. The announcement was made by Russia's financial monitoring agency – Rosfinmonitoring – as the conflict gains momentum in Ukraine.

Russia has decided to add US-based tech giant Meta to its list of “terrorists and extremists,” according to a report by the Interfax news agency. The announcement was made by Russia's financial monitoring agency – Rosfinmonitoring – as the conflict gains momentum in Ukraine. Russia's Prosecutor General's Office submitted a written request for this ban last week. Also read | Ukraine war LIVE | Russia adds Meta to 'terrorist & extremist' list Meta, the parent company of Facebook, is owned by billionaire Mark Zuckerberg and in March this year, it was found guilty of “extremist activity” in Russia by a Moscow court. The case was filed after Meta was accused of allowing posts that called for violence against the Russian military in Ukraine. As a result of this decision, people in Russia will not have any access to the services provided by Meta – which includes extremely popular social media platforms Instagram and Facebook. According to Insider, the ban can come into effect almost immediately depending on the government’s will. Also read | G7 to hold crisis talks on Russia's bomb assault on Kyiv Zuckerberg is already on the list of individuals who were barred by the Russian foreign ministry from entering the country back in April. The tech billionaire was part of a list that include US Vice President Kamala Harris, EO of LinkedIn Ryan Roslansky, and more than 900 other American citizens. In the official statement, Rosfinmonitoring said that Meta has been biased towards the western countries in the coverage of the Ukraine-Russia crisis. They said that the company is “discriminating” against Russian news outlets and have restricted user access to outlets like Sputnik and Russia Today.

Russia adds tech giant Meta to list of 'terrorist and extremist' organisations

Meta Platforms unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for chief executive Mark Zuckerberg's break into the higher-end market for extended reality computing devices.

The headset, introduced at Meta's annual Connect conference, will hit shelves on Oct. 25 at a price of $1,500, and will offer consumers a way to interact with virtual creations overlaid onto a full-colour view of the physical world around them.

The launch is an important step for Zuckerberg, who last year announced plans for the device — then called Project Cambria — at the same time that he changed his company's name from Facebook to Meta to signal his intention to refocus the social media giant into a company that operates a shared immersive computing experience known as the metaverse.

Zuckerberg has since poured billions of dollars into that vision. Reality Labs, the Meta unit responsible for bringing the metaverse to life, lost $10.2 billion in 2021 and has lost nearly $6 billion so far this year.

In a speech at the event, Zuckerberg, recorded partially in video and partially as an avatar, said he expects the blending of the physical and digital worlds to give rise to new uses for computing.

"You're going to see entirely new categories of things getting built," he said.

The Quest Pro features several upgrades over Meta's existing Quest 2 headset, which overwhelmingly dominates the consumer virtual reality market. 
 
ALSO READ:&nbsp;<a href="https://www.wionews.com/technology/meta-warns-one-million-users-about-potential-data-leak-through-malicious-apps-523435">Meta warns one million users about potential data leak through malicious apps</a>

Most strikingly, it has outward-facing cameras that capture a sort of 3D livestream of the physical environment around a wearer, enabling mixed reality novelties like the ability to hang a virtual painting on a real-world wall or have a virtual ball bounce off a real table.

The Quest 2, by contrast, offers a more rudimentary grayscale version of this technology, called passthrough.

The Quest Pro feels lighter and slimmer than its predecessors, with thin pancake lenses and a relocated battery that sits at the back of the headset, distributing its weight more evenly while reducing overall bulk.

For fully immersive virtual reality, Meta has added tracking sensors to the Quest Pro that can replicate users' eye movements and facial expressions, creating a sense that avatars are making eye contact. 
 
PITCHING PRODUCTIVITY

Meta is pitching the Quest Pro as a productivity device, aimed at designers, architects and other creative professionals.

In addition to offering its own Horizon social and workspace platforms, the company has also made virtual versions of Microsoft Corp work products like Word, Outlook and Teams available, a partnership Microsoft CEO Satya Nadella joined Zuckerberg to announce.

Matthew Ball, a venture capitalist whose writings about the metaverse have drawn Zuckerberg's praise, said he considered such partnerships significant because they suggested the companies' commitment to interoperability, or the idea that different systems should connect with each another.

"There is a lot of skepticism in the market as to whether an interoperable and open metaverse is even possible, let alone likely," he said, noting that Microsoft and Meta compete on several products in the extended reality space.

At a preview of Quest Pro days before its launch, Meta gave reporters a glimpse of the type of user it had in mind for its productivity pitch by showcasing apps like Tribe XR, a virtual training environment for DJs. 
 
ALSO READ:&nbsp;<a href="https://www.wionews.com/world/russia-adds-tech-giant-meta-to-list-of-terrorist-and-extremist-organisations-524459">Russia adds tech giant Meta to list of 'terrorist And extremist' organisations</a>

Tribe XR is already available in virtual reality, but a demonstration showed how passthrough technology may enable DJs to use the app to play real-world gigs, as it means they can look out past their virtual equipment at actual partygoers.

Meta plans to sell the Quest Pro in consumer channels to start, while adding enterprise-level capabilities like mobile device management, authentication and premium support services next year, executives said at the press event.

They said the device is intended to complement rather than replace the entry-level Quest 2, which sells for $399.99.

For now, that means the Quest Pro stops short of enabling the complex commercial applications Meta has suggested it wants its metaverse technology to support.

The company is still working on a mixed reality experience for its Horizon Workrooms app that would make a person's avatar appear to be present in a real-world conference room with other users, which it is calling Magic Rooms.

It is also planning to add legs to its avatars, which are currently displayed from the waist up, Zuckerberg said.

Still, the Quest Pro's price point puts it well under the cost of existing enterprise-focused devices like Microsoft's Hololens 2, which was released for commercial use in 2019 and is already present in operating rooms and on factory floors.

An entry-level Hololens 2 sells for $3,500. 
 
&nbsp;

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Meta Platforms unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for chief executive Mark Zuckerberg's break into the higher-end market for extended reality computing devices.

Meta Platforms unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for chief executive Mark Zuckerberg's break into the higher-end market for extended reality computing devices. The headset, introduced at Meta's annual Connect conference, will hit shelves on Oct. 25 at a price of $1,500, and will offer consumers a way to interact with virtual creations overlaid onto a full-colour view of the physical world around them. The launch is an important step for Zuckerberg, who last year announced plans for the device — then called Project Cambria — at the same time that he changed his company's name from Facebook to Meta to signal his intention to refocus the social media giant into a company that operates a shared immersive computing experience known as the metaverse. Zuckerberg has since poured billions of dollars into that vision. Reality Labs, the Meta unit responsible for bringing the metaverse to life, lost $10.2 billion in 2021 and has lost nearly $6 billion so far this year. In a speech at the event, Zuckerberg, recorded partially in video and partially as an avatar, said he expects the blending of the physical and digital worlds to give rise to new uses for computing. "You're going to see entirely new categories of things getting built," he said. The Quest Pro features several upgrades over Meta's existing Quest 2 headset, which overwhelmingly dominates the consumer virtual reality market. ALSO READ: Meta warns one million users about potential data leak through malicious apps Most strikingly, it has outward-facing cameras that capture a sort of 3D livestream of the physical environment around a wearer, enabling mixed reality novelties like the ability to hang a virtual painting on a real-world wall or have a virtual ball bounce off a real table. The Quest 2, by contrast, offers a more rudimentary grayscale version of this technology, called passthrough. The Quest Pro feels lighter and slimmer than its predecessors, with thin pancake lenses and a relocated battery that sits at the back of the headset, distributing its weight more evenly while reducing overall bulk. For fully immersive virtual reality, Meta has added tracking sensors to the Quest Pro that can replicate users' eye movements and facial expressions, creating a sense that avatars are making eye contact. PITCHING PRODUCTIVITY Meta is pitching the Quest Pro as a productivity device, aimed at designers, architects and other creative professionals. In addition to offering its own Horizon social and workspace platforms, the company has also made virtual versions of Microsoft Corp work products like Word, Outlook and Teams available, a partnership Microsoft CEO Satya Nadella joined Zuckerberg to announce. Matthew Ball, a venture capitalist whose writings about the metaverse have drawn Zuckerberg's praise, said he considered such partnerships significant because they suggested the companies' commitment to interoperability, or the idea that different systems should connect with each another. "There is a lot of skepticism in the market as to whether an interoperable and open metaverse is even possible, let alone likely," he said, noting that Microsoft and Meta compete on several products in the extended reality space. At a preview of Quest Pro days before its launch, Meta gave reporters a glimpse of the type of user it had in mind for its productivity pitch by showcasing apps like Tribe XR, a virtual training environment for DJs. ALSO READ: Russia adds tech giant Meta to list of 'terrorist And extremist' organisations Tribe XR is already available in virtual reality, but a demonstration showed how passthrough technology may enable DJs to use the app to play real-world gigs, as it means they can look out past their virtual equipment at actual partygoers. Meta plans to sell the Quest Pro in consumer channels to start, while adding enterprise-level capabilities like mobile device management, authentication and premium support services next year, executives said at the press event. They said the device is intended to complement rather than replace the entry-level Quest 2, which sells for $399.99. For now, that means the Quest Pro stops short of enabling the complex commercial applications Meta has suggested it wants its metaverse technology to support. The company is still working on a mixed reality experience for its Horizon Workrooms app that would make a person's avatar appear to be present in a real-world conference room with other users, which it is calling Magic Rooms. It is also planning to add legs to its avatars, which are currently displayed from the waist up, Zuckerberg said. Still, the Quest Pro's price point puts it well under the cost of existing enterprise-focused devices like Microsoft's Hololens 2, which was released for commercial use in 2019 and is already present in operating rooms and on factory floors. An entry-level Hololens 2 sells for $3,500. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Meta's new Quest Pro headset, mixing real and virtual worlds, makes debut

Facebook’s parent company Meta had some troubling news for its customers on Thursday as it issued a warning that the login information of around a million users was potentially compromised.

According to the official statement, the leak happened due to “malicious apps”. The applications were listed on Google Play Store and the Apple Store as games and other types of apps to trick people into downloading them and it accessed the phone through the Facebook welcome page.

Also read |&nbsp;<a href="https://www.wionews.com/world/white-house-clarifies-bidens-armageddon-remark-says-no-indications-russia-preparing-to-use-nukes-523424" hreflang="en">White House says US no indications Russia preparing to use nukes</a>

Meta’s researchers said that on most occasions, the malicious apps asked the user to log into their Facebook account to continue and in the process, stole the username and password information.

The number of such apps were estimated to be somewhere around 400 and Meta spokesperson Gabby Curtis confirmed said that the company is trying to ascertain the number of affected users.

Also read |&nbsp;<a href="https://www.wionews.com/world/uvalde-school-district-suspends-full-police-department-months-after-shooting-523426">Uvalde school district suspends full police department months after shooting</a>

“This is a highly adversarial space and while our industry peers work to detect and remove malicious software, some of these apps evade detection and make it onto legitimate app stores,” wrote Meta’s Threat Disruption Director David Agranovich in the company’s official blog.

Meta has already reached out to both Apple and Google to de-list the apps from their online stores and have provided them with a complete report of their findings. The company has also reached out to the potentially affected users to guide them on how to protect their data and Agranovich said that as the activity did not occur on Meta systems, it will be easier for the company to take note of the issues.

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Facebook’s parent company Meta had some troubling news for its customers on Thursday as it issued a warning that the login information of around a million users was potentially compromised.

Facebook’s parent company Meta had some troubling news for its customers on Thursday as it issued a warning that the login information of around a million users was potentially compromised. According to the official statement, the leak happened due to “malicious apps”. The applications were listed on Google Play Store and the Apple Store as games and other types of apps to trick people into downloading them and it accessed the phone through the Facebook welcome page. Also read | White House says US no indications Russia preparing to use nukes Meta’s researchers said that on most occasions, the malicious apps asked the user to log into their Facebook account to continue and in the process, stole the username and password information. The number of such apps were estimated to be somewhere around 400 and Meta spokesperson Gabby Curtis confirmed said that the company is trying to ascertain the number of affected users. Also read | Uvalde school district suspends full police department months after shooting “This is a highly adversarial space and while our industry peers work to detect and remove malicious software, some of these apps evade detection and make it onto legitimate app stores,” wrote Meta’s Threat Disruption Director David Agranovich in the company’s official blog. Meta has already reached out to both Apple and Google to de-list the apps from their online stores and have provided them with a complete report of their findings. The company has also reached out to the potentially affected users to guide them on how to protect their data and Agranovich said that as the activity did not occur on Meta systems, it will be easier for the company to take note of the issues.

Meta warns one million users about potential data leak through malicious apps

Tech giant Meta said it has notified a million Facebook users that their usernames and passwords might have been stolen after downloading one of over 400 malicious Android and iOS smartphone apps.

Tech Talk: Meta warns of password-stealing phone apps

Citing loss of revenue and violation of laws, the Advertising Regulatory Council of Nigeria (ARCON) has sued Meta, the parent company of Facebook and its Nigerian public relations agency AT3 Resources at the Federal High court, Abuja Judicial Division.

The council through its legal head said that "it is carrying out its statutory responsibility of ensuring that advertising, advertisements and marketing communications conform with the lawful enactments."

ARCON is seeking ₦30 billion (~$50 million) in sanctions for the violation of the advertising laws and for loss of revenue as a result 
of Meta’s continued exposure of unapproved adverts on its platforms.

The regulatory body believes that Meta’s continued exposure of unvetted adverts had also led to a loss of revenue to the federal government as it reiterates that it would not permit unethical and irresponsible advertising on Nigeria’s advertising space.

This move comes after a new bill by ARCON was passed by the National Assembly and approved by the Nigerian president in August. The new bill repealed the Advertising Practitioners (Registration, etc.) Act, Cap. A7, Laws of the Federation of Nigeria, 2004 and enacting the Advertising Regulatory Council of Nigeria (ARCON) Act, 2022, which recognizes ARCON as the apex authority for the Nigerian advertising industry.

Responding to questions from WION, Chukudi Ezeaba, Head (Legal Advertising), ARCON, enlightened practitioners on the laws that govern advertising in the country, be it on or off the social media space.

"The principal legislation governing advertising in Nigeria is the Advertising Regulatory Council of Nigeria Act No. 23 of 2022 and the Nigeria Code of Advertising Practice. There are fragments of other statutory provisions concerning advertising in some specific legislations like the Electoral Act and some industry-specific regulations. Overall, the ARCON Act is preeminent."

He cleared the air on reports that suggest the council will be stifling small businesses in Nigeria..

"That position is very incorrect and mainly peddled by those who carry out advertising that ordinarily would not be approved by the Advertising Standards Panel (ASP) and primary and secondary online media platform owners. ARCON has provided a very business-friendly model for SMEs for the vetting of advertisements from small businesses. That has been encouraging for those who comply with the statutory provisions. Most of the critics have not availed themselves with the opportunities offered by the model."

ARCON also shared that it’s not regulating the online media space but advertising and marketing communications on online platforms in line with its establishment act and advised practitioners to "Simply ensure that their advertisements are vetted and approved before exposure."

Recall that ARCON in August announced the ban on the use of all foreign models and voice-over artists in Nigeria, a move that has been met with mixed feelings as Nigerians look forward to its pros and cons in the coming years. &nbsp;

This move, according to Ezeaba, is "to ensure ethical advertising business and practice in Nigeria. Making constructive business-friendly and productive policies that will encourage SMEs and other businesses to thrive in Nigeria.

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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Citing loss of revenue and violation of laws, the Advertising Regulatory Council of Nigeria (ARCON) has sued Meta, the parent company of Facebook and its Nigerian public relations agency AT3 Resources at the Federal High court, Abuja Judicial Division.

Citing loss of revenue and violation of laws, the Advertising Regulatory Council of Nigeria (ARCON) has sued Meta, the parent company of Facebook and its Nigerian public relations agency AT3 Resources at the Federal High court, Abuja Judicial Division. The council through its legal head said that "it is carrying out its statutory responsibility of ensuring that advertising, advertisements and marketing communications conform with the lawful enactments." ARCON is seeking ₦30 billion (~$50 million) in sanctions for the violation of the advertising laws and for loss of revenue as a result of Meta’s continued exposure of unapproved adverts on its platforms. The regulatory body believes that Meta’s continued exposure of unvetted adverts had also led to a loss of revenue to the federal government as it reiterates that it would not permit unethical and irresponsible advertising on Nigeria’s advertising space. This move comes after a new bill by ARCON was passed by the National Assembly and approved by the Nigerian president in August. The new bill repealed the Advertising Practitioners (Registration, etc.) Act, Cap. A7, Laws of the Federation of Nigeria, 2004 and enacting the Advertising Regulatory Council of Nigeria (ARCON) Act, 2022, which recognizes ARCON as the apex authority for the Nigerian advertising industry. Responding to questions from WION, Chukudi Ezeaba, Head (Legal Advertising), ARCON, enlightened practitioners on the laws that govern advertising in the country, be it on or off the social media space. "The principal legislation governing advertising in Nigeria is the Advertising Regulatory Council of Nigeria Act No. 23 of 2022 and the Nigeria Code of Advertising Practice. There are fragments of other statutory provisions concerning advertising in some specific legislations like the Electoral Act and some industry-specific regulations. Overall, the ARCON Act is preeminent." He cleared the air on reports that suggest the council will be stifling small businesses in Nigeria.. "That position is very incorrect and mainly peddled by those who carry out advertising that ordinarily would not be approved by the Advertising Standards Panel (ASP) and primary and secondary online media platform owners. ARCON has provided a very business-friendly model for SMEs for the vetting of advertisements from small businesses. That has been encouraging for those who comply with the statutory provisions. Most of the critics have not availed themselves with the opportunities offered by the model." ARCON also shared that it’s not regulating the online media space but advertising and marketing communications on online platforms in line with its establishment act and advised practitioners to "Simply ensure that their advertisements are vetted and approved before exposure." Recall that ARCON in August announced the ban on the use of all foreign models and voice-over artists in Nigeria, a move that has been met with mixed feelings as Nigerians look forward to its pros and cons in the coming years. This move, according to Ezeaba, is "to ensure ethical advertising business and practice in Nigeria. Making constructive business-friendly and productive policies that will encourage SMEs and other businesses to thrive in Nigeria. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Nigeria: Advertising watchdog sues Meta, seeks USD 50 million for violation of laws  

Meta CEO Mark Zuckerberg has outlined plans to reduce headcount for the first time. Recently, multiple tech companies have laid off several employees. Priyanka Sharma tells you how the global economic crisis is hitting the tech sector.

Gravitas: Global economic crisis hits the tech sector

Meta, the parent company of Facebook happens to be one of the biggest social media platform and if you are planning to get a job at Facebook then believe it or not, Facebook has said that it is now putting a freeze on new hirings.

Facebook: Hiring freeze to cut down costs, reports drop in revenue

In an effort to reduce expenses during tough economic times, Facebook parent company Meta informed its staff on Thursday (Sept 29) that it would be halting hiring.

According to the Wall Street Journal, Mark Zuckerberg, the head of Meta, announced a plan to freeze recruiting during a weekly all-hands meeting, adding that the decision came as the social media giant planned to cut expenses by at least 10 per cent.

<a href="https://www.wionews.com/world/top-meta-official-to-decide-if-trump-can-return-to-facebook-instagram-in-2023-519266">Also read |&nbsp;Top Meta official to decide if Trump can return to Facebook &amp; Instagram in 2023</a>

Bloomberg reported that Zuckerberg, during a weekly session, said, "I had hoped the economy would have more clearly stabilised by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively."

As advertisers reduced spending to prepare for an impending recession, some tech companies have been forced to reduce personnel in recent months. Additionally, Zuckerberg indicated on Thursday that Meta would cut budgets for the majority of teams and that each team would have to decide how to manage headcount changes.&nbsp;

<a href="https://www.wionews.com/world/meta-looking-to-cut-costs-by-10-per-cent-over-next-few-months-518643">Also read |&nbsp;Meta looking to cut costs by 10 per cent over next few months, plans internal rejig</a>

However, Meta had long provided growth that seemed to go upward, and this time it just recorded its first global daily user decrease. The economic downturn, which made advertisers cut their marketing budgets, and Apple's data privacy regulations, had limited scope for personalisation. In the second-quarter earnings call, the company refrained from referring to Zuckerberg's warning about a drop in headcount over the next year.&nbsp;

Although general hiring freezes had been acknowledged by the company in May, precise numbers had not been disclosed yet.&nbsp;

This year, tech companies, including Snap and e-commerce Amazon, have announced layoffs.

(With inputs from agencies)

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In an effort to reduce expenses during tough economic times, Facebook parent company Meta informed its staff on Thursday (Sept 29) that it would be halting hiring.

In an effort to reduce expenses during tough economic times, Facebook parent company Meta informed its staff on Thursday (Sept 29) that it would be halting hiring. According to the Wall Street Journal, Mark Zuckerberg, the head of Meta, announced a plan to freeze recruiting during a weekly all-hands meeting, adding that the decision came as the social media giant planned to cut expenses by at least 10 per cent. Also read | Top Meta official to decide if Trump can return to Facebook & Instagram in 2023 Bloomberg reported that Zuckerberg, during a weekly session, said, "I had hoped the economy would have more clearly stabilised by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively." As advertisers reduced spending to prepare for an impending recession, some tech companies have been forced to reduce personnel in recent months. Additionally, Zuckerberg indicated on Thursday that Meta would cut budgets for the majority of teams and that each team would have to decide how to manage headcount changes. Also read | Meta looking to cut costs by 10 per cent over next few months, plans internal rejig However, Meta had long provided growth that seemed to go upward, and this time it just recorded its first global daily user decrease. The economic downturn, which made advertisers cut their marketing budgets, and Apple's data privacy regulations, had limited scope for personalisation. In the second-quarter earnings call, the company refrained from referring to Zuckerberg's warning about a drop in headcount over the next year. Although general hiring freezes had been acknowledged by the company in May, precise numbers had not been disclosed yet. This year, tech companies, including Snap and e-commerce Amazon, have announced layoffs. (With inputs from agencies) WATCH WION LIVE HERE

Meta halts hiring to reduce expenses after recording its first global daily user decrease 

In the aftermath of the chaotic events of January 6, 2021, former US President Donald Trump was barred from most social media platforms. Nearly two years down the line, Meta&nbsp;(more colloquially known as Facebook) is expected to decide on whether to reinstate the Republican leader on the platform or not.&nbsp;

Reportedly, Nick Clegg, Meta’s president of global affairs, has been charged with the duty to decide if Trump can return to Facebook and Instagram in 2023. The top Meta official, at a recent public event, stated he will make the final call in consultation with CEO Mark Zuckerberg.&nbsp;

“It’s not a capricious decision. We will look at the signals related to real-world harm to make a decision whether at the two-year point which is early January next year whether Trump gets reinstated to the platform,” said Clegg.&nbsp;

It is pertinent to note that Trump was banned from nearly every major social media platform in the aftermath of the January 6 Capitol riots where Trump supporters allegedly attempted to overturn the election results. The Republican leader was accused of posting messages online to incite violence.

While Twitter banned the Republican leader for perpetuity, Facebook imposed a two-year ban to be later re-evaluated. However, since the ban was imposed, much water has flown under the bridge.

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Trump has formed his own social media platform called Truth Social where he routinely gives an unabridged piece of his mind. While Trump has not commented on a return to Facebook, he has made it clear that he is not returning to the microblogging platform Twitter.&nbsp;

“I am not going on Twitter, I am going to stay on Truth. I hope Elon buys Twitter because he’ll make improvements to it and he is a good man, but I am going to be staying on Truth. The bottom line is, no, I am not going back to Twitter,” Trump said in an interview earlier this year.

Read more:<a href="https://www.wionews.com/technology/is-donald-trumps-social-media-platform-in-financial-trouble-510513">&nbsp;Is Donald Trump's social media platform in financial trouble?</a>

(With inputs from agencies)

WATCH WION LIVE HERE: &nbsp;

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In the aftermath of the chaotic events of January 6, 2021, former US President Donald Trump was barred from most social media platforms. Nearly two years down the line, Meta (more colloquially known as Facebook) is expected to decide on whether to reinstate the Republican leader on the platform or not.

In the aftermath of the chaotic events of January 6, 2021, former US President Donald Trump was barred from most social media platforms. Nearly two years down the line, Meta (more colloquially known as Facebook) is expected to decide on whether to reinstate the Republican leader on the platform or not. Reportedly, Nick Clegg, Meta’s president of global affairs, has been charged with the duty to decide if Trump can return to Facebook and Instagram in 2023. The top Meta official, at a recent public event, stated he will make the final call in consultation with CEO Mark Zuckerberg. “It’s not a capricious decision. We will look at the signals related to real-world harm to make a decision whether at the two-year point which is early January next year whether Trump gets reinstated to the platform,” said Clegg. It is pertinent to note that Trump was banned from nearly every major social media platform in the aftermath of the January 6 Capitol riots where Trump supporters allegedly attempted to overturn the election results. The Republican leader was accused of posting messages online to incite violence. While Twitter banned the Republican leader for perpetuity, Facebook imposed a two-year ban to be later re-evaluated. However, since the ban was imposed, much water has flown under the bridge. × Trump has formed his own social media platform called Truth Social where he routinely gives an unabridged piece of his mind. While Trump has not commented on a return to Facebook, he has made it clear that he is not returning to the microblogging platform Twitter. “I am not going on Twitter, I am going to stay on Truth. I hope Elon buys Twitter because he’ll make improvements to it and he is a good man, but I am going to be staying on Truth. The bottom line is, no, I am not going back to Twitter,” Trump said in an interview earlier this year. Read more: Is Donald Trump's social media platform in financial trouble? (With inputs from agencies) WATCH WION LIVE HERE:

Top Meta official to decide if Trump can return to Facebook & Instagram in 2023

A global slowdown and impending fears of recession have prompted companies across the board to trim their headcount. According to GlobalData's news database, over 60 top companies announced layoffs in the month of August 2022 alone.

A global slowdown and impending fears of recession have prompted companies across the board to trim their headcount. According to GlobalData's news database, over 60 top companies announced layoffs in the month of August 2022 alone. From Microsoft to Apple to Tencent to Xiaomi to Snap, the big tech behemoths fired employees as uncertain macroeconomic conditions threatened to hurt the financial books of the companies. However, experts believe that the worst is yet to come. Sherla Sriprada, business fundamentals analyst at GlobalData, which published the report, cited the example of Microsoft and how the company was planning future cuts as well. "Of particular interest is Microsoft, which laid off 1% of its total workforce due to the economic slowdown, and has plans to terminate a further 200 employees from its consumer research and development (R&D) team as a part of its realignment. The company’s job postings fell by 47 per cent in August 2022 over January 2022,” said Sriprada. As reported by WION, there has been no dearth of big names taking the rather cold call of laying off their employees in recent times. China's Alibaba reportedly fired 10,000 employees as part of cost-cutting measures and due to slowing sales growth and rising prices. Tencent, the crown jewel of China's booming tech sector, reported a slowdown in sales for the first time this year and instantly laid off over 5,500 employees. Meanwhile, Coinbase Global Inc stated it will extend its hiring freeze for the foreseeable future and rescind a number of accepted offers in order to deal with current macroeconomic conditions. Similarly, Meta (formerly Facebook) has paused hiring for several verticals, like shopping and Messenger Kids, which has triggered the fear of layoffs among employees. "I can't sit here and make a permanent ongoing promise that as things shift that we won't have to reconsider that (job cuts)," Zuckerberg told the staff during a meeting. Read more: From Tesla to Peloton, companies slow hiring as US economy sputters Google and Alphabet CEO Sundar Pichai earlier this month stated that he wants to make his company 20 per cent efficient while hinting at possible job cuts. “We want to make sure as a company, when you have fewer resources than before, you are prioritizing all the right things to be working on and your employees are really productive that they can actually have impact on the things they’re working on so that’s what we are spending our time on,” said Pichai. Read more: Sundar Pichai hints at slashing Google workforce, wants company 20% more efficient Similarly, banking major Goldman Sachs is planning to fire hundreds of its employees by resuming its annual practice which was halted the last two years due to the pandemic. Experts believe that Goldman Sachs could clip as many as one to five per cent of its low-performance employees. This will mean losing anywhere between 500 to 2,400 employees. Read more: Goldman Sachs to start firing employees from next week amid an economic slowdown (With inputs from agencies) WATCH WION LIVE HERE:

Signs of global slowdown? 60 top companies fired employees in August

US tech-giant Meta has more than doubled its cost-cutting targets. Reportedly, the company is looking to trim its costs by at least 10% within the next few months. The reported figure represents a big jump from the earlier forecast of about 2% to 4% cost cuts that Meta announced in July.

World Business Watch | Report: Meta aims to cut costs by 10% within next few months

Meta is looking to cut costs by almost 10 per cent by the end of 2022, Wall Street Journal reported on Wednesday. According to the report, the company is expected to announce job cuts – but it will be carried out in the form of internal department reorganisation rather than formal firings.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/thousands-protesting-against-partial-mobilisation-of-civilians-detained-in-russia-518576" hreflang="en">Russia has drafted several anti-war protesters into military, reports say</a>

The news of cost cuts came just days after&nbsp;Meta CEO&nbsp;Mark Zuckerberg’s net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index. As a result, he dropped to his lowest spot in the list since 2014 and is currently ranked 20th among all the global billionaires.&nbsp;

A major reason behind the loss in net worth was the $55.9 billion loss that Meta incurred after the rebranding from Facebook and the renewed focus on Metaverse and similar applications.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/mahsa-amini-death-many-killed-in-iran-unrest-as-anti-hijab-protests-intensify-518638" hreflang="en">Mahsa Amini death: Many killed in Iran unrest as anti-hijab protests intensify</a>

When it comes to costs and expenses, the company saw a steep rise of 22 per cent in 2022 with the total figure standing at $20.4 billion. A majority of it was invested into the Metaverse and the report claims that as a result, Meta will be looking to cut costs in other departments.&nbsp;

Chief product officer Chris Cox told the employees that the company is “in serious times here and the headwinds are fierce”. 
 
“We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets,” he added, according to WSJ.&nbsp;

Meta is looking to cut costs by almost 10 per cent by the end of 2022, Wall Street Journal reported on Wednesday. According to the report, the company is expected to announce job cuts – but it will be carried out in the form of internal department reorganisation rather than formal firings.

Meta is looking to cut costs by almost 10 per cent by the end of 2022, Wall Street Journal reported on Wednesday. According to the report, the company is expected to announce job cuts – but it will be carried out in the form of internal department reorganisation rather than formal firings. Also read | Russia has drafted several anti-war protesters into military, reports say The news of cost cuts came just days after Meta CEO Mark Zuckerberg’s net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index. As a result, he dropped to his lowest spot in the list since 2014 and is currently ranked 20th among all the global billionaires. A major reason behind the loss in net worth was the $55.9 billion loss that Meta incurred after the rebranding from Facebook and the renewed focus on Metaverse and similar applications. Also read | Mahsa Amini death: Many killed in Iran unrest as anti-hijab protests intensify When it comes to costs and expenses, the company saw a steep rise of 22 per cent in 2022 with the total figure standing at $20.4 billion. A majority of it was invested into the Metaverse and the report claims that as a result, Meta will be looking to cut costs in other departments. Chief product officer Chris Cox told the employees that the company is “in serious times here and the headwinds are fierce”. “We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets,” he added, according to WSJ.

Meta looking to cut costs by 10 per cent over next few months, plans internal rejig

The move to rebrand Facebook into Meta and the focus on Metaverse has not worked out well for Mark Zuckerberg in the short run as his net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index. As a result, he dropped to his lowest spot in the list since 2014 as he is currently ranked 20th among all the global billionaires, according to Bloomberg.

In 2020, the Meta CEO had a net worth of around $106 billion with just Amazon founder Jeff Bezos and Microsoft founder Bill Gates ahead of him. With Facebook shares racing up to $382, Zuckerberg hit his peak in September 2021 when he had a net worth of around $142 billion.

Also read |&nbsp;<a href="https://www.wionews.com/world/head-of-irans-morality-police-suspended-following-protests-over-death-in-custody-reports-suggest-517917" hreflang="en">Head of Iran’s morality police suspended amid protests: Reports</a>

However, with the rebranding of his company and subsequent losses, his net worth has now fallen to $55.9 billion. In February 2022 alone, the Meta CEO lost $31 billion due to his company.

While the focus still remains on the Metaverse and its multiple applications, the reports showed that Facebook had no growth in monthly users prompting a steady fall in share prices.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/pakistan-in-talks-with-russia-regarding-import-of-oil-on-deferred-payment-reports-517950" hreflang="en">A hint to India? Pak-Russia discuss Russian oil imports on deferred payment basis, say reports</a>

When it comes to its core market, Meta has not performed as well as before and it has been beaten by TikTok on a number of key parameters. When it comes to other competition – Amazon, Apple, Google and Netflix to name a few – Facebook has once again not performed as well as before.

With the majority of Zuckerburg’s wealth coming from Meta, the lull in the company’s business has indeed turned out to be a headache for him and the new index will surely be a timely warning.

The move to rebrand Facebook into Meta and the focus on Metaverse has not worked out well for Mark Zuckerberg in the short run as his net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index.

The move to rebrand Facebook into Meta and the focus on Metaverse has not worked out well for Mark Zuckerberg in the short run as his net worth dropped by a massive $71 billion in 2022, according to the Bloomberg Billionaires Index. As a result, he dropped to his lowest spot in the list since 2014 as he is currently ranked 20th among all the global billionaires, according to Bloomberg. In 2020, the Meta CEO had a net worth of around $106 billion with just Amazon founder Jeff Bezos and Microsoft founder Bill Gates ahead of him. With Facebook shares racing up to $382, Zuckerberg hit his peak in September 2021 when he had a net worth of around $142 billion. Also read | Head of Iran’s morality police suspended amid protests: Reports However, with the rebranding of his company and subsequent losses, his net worth has now fallen to $55.9 billion. In February 2022 alone, the Meta CEO lost $31 billion due to his company. While the focus still remains on the Metaverse and its multiple applications, the reports showed that Facebook had no growth in monthly users prompting a steady fall in share prices. Also read | A hint to India? Pak-Russia discuss Russian oil imports on deferred payment basis, say reports When it comes to its core market, Meta has not performed as well as before and it has been beaten by TikTok on a number of key parameters. When it comes to other competition – Amazon, Apple, Google and Netflix to name a few – Facebook has once again not performed as well as before. With the majority of Zuckerburg’s wealth coming from Meta, the lull in the company’s business has indeed turned out to be a headache for him and the new index will surely be a timely warning.

Mark Zuckerberg's net worth falls by $71 billion in last 12 months

Big tech companies including Twitter, Google and Meta are now under fire for various reasons. Twitter is slammed by its former security Chief Peiter Zatko who testified that Twitter misled users. Google and Meta are also facing intense scrutiny and pressure from different governments.

Tech Talk: Lawmakers pull up big tech firms over unfair business practices

Alphabet's Google and Meta Platforms have been fined tens of millions of dollars by South Korea for privacy law violations, authorities said on Wednesday. In a statement, the Personal Information Protection Commission said Google has been fined 69.2 billion won ($50 million) and Meta 30.8 billion won ($22 million).

The panel said that both the firms collected user information without telling them clearly about it or taking their consent for analysing behavioural information to infer their interests or use them for customised advertisements.

Also Read |&nbsp;<a href="https://www.wionews.com/world/google-face-billions-of-dollars-in-damages-in-europe-515784">Google faces billions of dollars in damages in Europe</a>

Both the companies displayed displeasure with the decision and said they have always been transparent and worked with clients in a legally compliant way.

"We disagree with the PIPC’s findings, and will be reviewing the full written decision once it’s shared with us," a Google spokesperson was quoted as saying by Reuters.&nbsp;

"We’ve always demonstrated our commitment to making ongoing updates that give users control and transparency, while providing the most helpful products possible. We remain committed to engaging with the PIPC to protect the privacy of South Korean users."

A Meta spokesperson said, "While we respect the commission's decision, we are confident that we work with our clients in a legally compliant way that meets the processes required by local regulations. As such, we do not agree with the commission's decision, and will be open to all options including seeking a ruling from the court."

Meanwhile, Google suffered one of its biggest setbacks on Wednesday when a top European court fined it 4.125 billion euros ($4.13 billion) for using its Android mobile operating system to thwart rivals.

The unit of US tech giant Alphabet (GOOGL.O) had challenged an earlier ruling, but the decision was broadly upheld by the Europe's second-highest court in Wednesday's ruling and the fine was reduced only modestly from 4.34 billion euros.

(With inputs from agencies)

&nbsp;

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Alphabet's Google and Meta Platforms have been fined tens of millions of dollars by South Korea for privacy law violations, authorities said on Wednesday. In a statement, the Personal Information Protection Commission said Google has been fined 69.

Alphabet's Google and Meta Platforms have been fined tens of millions of dollars by South Korea for privacy law violations, authorities said on Wednesday. In a statement, the Personal Information Protection Commission said Google has been fined 69.2 billion won ($50 million) and Meta 30.8 billion won ($22 million). The panel said that both the firms collected user information without telling them clearly about it or taking their consent for analysing behavioural information to infer their interests or use them for customised advertisements. Also Read | Google faces billions of dollars in damages in Europe Both the companies displayed displeasure with the decision and said they have always been transparent and worked with clients in a legally compliant way. "We disagree with the PIPC’s findings, and will be reviewing the full written decision once it’s shared with us," a Google spokesperson was quoted as saying by Reuters. "We’ve always demonstrated our commitment to making ongoing updates that give users control and transparency, while providing the most helpful products possible. We remain committed to engaging with the PIPC to protect the privacy of South Korean users." A Meta spokesperson said, "While we respect the commission's decision, we are confident that we work with our clients in a legally compliant way that meets the processes required by local regulations. As such, we do not agree with the commission's decision, and will be open to all options including seeking a ruling from the court." Meanwhile, Google suffered one of its biggest setbacks on Wednesday when a top European court fined it 4.125 billion euros ($4.13 billion) for using its Android mobile operating system to thwart rivals. The unit of US tech giant Alphabet (GOOGL.O) had challenged an earlier ruling, but the decision was broadly upheld by the Europe's second-highest court in Wednesday's ruling and the fine was reduced only modestly from 4.34 billion euros. (With inputs from agencies)

South Korea fines Google, Meta around $72 million over privacy violations

Intending to provide monetary incentives to influencers on the platform, Meta-owned Instagram is currently testing a feature called 'Gifts' that allows creators to earn money through Reels.

Intending to provide monetary incentives to influencers on the platform, Meta-owned Instagram is currently testing a feature called 'Gifts' that allows creators to earn money through Reels. According to a Business insider report, the feature is currently being tested internally within the company as a prototype. However, the murmurs of the feature had been growing over the past few months as tech researcher Alessandro Paluzzi in July dropped bits about Instagram working on a new feature under the name 'content' appreciation'. #Instagram is working on a new monetization tool: Content appreciation 👀 ℹ️ Enable your fans to send a token of their appreciation to you: stars, charms or mega-likes. pic.twitter.com/M3cg6XXDd2 — Alessandro Paluzzi (@alex193a) July 21, 2022 × If Instagram does go the route of adding money-making avenues with the app features, it wouldn't be the first time that a social media company has tried to emulate the same. WATCH | WION Fineprint | Instagram fined over $400 million for violating kids’ privacy × In fact, two years ago in 2020, Instagram rolled out its Badges feature which allows users to show support to their favourite creators during a live video. The badges come in different price tiers ranging from $0.99 to $1.99 to $4.99. Moreover, akin to Instagram's 'Gift' feature, Twitter already has a Tip jar feature that was launched last year in May. Meanwhile, in December 2021, the short-video platform TikTok allowed the users on the platform to directly tip the content creators. As reported by WION, earlier this month, Meta was mulling setting up a new group that will focus on creating products for Facebook and Instagram having paid features. Reportedly, the new group will be called 'New Monetization Experiences' and will be led by Meta's former head of research Pratiti Raychoudhury. Snap Inc and Twitter Inc which are Meta's competitors have already launched paid tiers to unlock additional features. However, John Hegeman, Meta's head of ads and business products, said in an interview with the Verge, that the company is committed to growing the ads business and has no plans to let users pay to turn off ads. Read more: More paid features on Facebook and Instagram? Meta to set up new group for creating products (With inputs from agencies) WATCH WION LIVE HERE:

Instagram working on a new feature called 'Gifts' to monetise reels for creators

Unable to compete in the gaming streaming market, Facebook on Tuesday announced that it will be shutting down its gaming app. Reportedly, the app which let users watch and play video games on-demand was launched two years ago amid much fanfare.

Unable to compete in the gaming streaming market, Facebook on Tuesday announced that it will be shutting down its gaming app. Reportedly, the app which let users watch and play video games on-demand was launched two years ago amid much fanfare. However, come October 28, the app will not be available to download on Android or iOS but will continue to be accessible via the Facebook app. “We want to extend our heartfelt thanks to all of you for everything that you’ve done to build a thriving community for gamers and fans since this app first launched,” the company stated in an update to the users. “Despite this news, our mission to connect players, fans and creators with the games they love hasn’t changed, and you’ll still be able to find your games, streamers and groups when you visit Gaming in the Facebook app.” it further added. Read more: Facebook hints at settlement in Cambridge Analytica lawsuit Facebook launched its gaming app in April 2020 to compete with the likes of Twitch, a dominant player in the market. The app wanted to cash in on the boom of the pandemic market where users were looking for new platforms to play games while confined in the boundaries of their households. However, the app never really got off the ground as users complained about the buggy UI and not having top streamers in its fold. It's not like Facebook did not attempt to resuscitate its product. It signed Brazilian footballer Neymar Jr and creators like DiguisedToast, Ramee to gain momentum. However, none of them appeared in the top stream rankings and eventually did not contribute much to the growth of the app. According to data from market research firm, Streamlabs, as of the second quarter, the gaming market was dominated by Twitch at 76.7 per cent, followed by YouTube at 15.4 per cent and Facebook Gaming lagging at only 7.9 per cent. Read more: Facebook edit button goes missing for some users, causes social media storm Facebook is not the only high-profile Silicon valley behemoth to bow out of the gaming sector after failing. Bill gates owned Microsoft and its gaming streaming service Mixer also failed to hit the straps and brought down the curtains in 2020. (With inputs from agencies) WATCH WION LIVE HERE:

Facebook to shut down its game streaming app after failing to ace the market

Facebook has finally agreed to settle a data privacy lawsuit. The lawsuit is related to Facebook letting third parties including Cambridge Analytica access the private data of its users.

Lawsuit: Facebook violated consumer privacy laws, agrees to settle

Meta CEO Mark Zuckerberg was caught off guard when comedian Joe Rogan asked him whether Meta's smart glasses pose a potential privacy risk, on his podcast, "The Joe Rogan Experience," on Thursday. While Zuckerberg tried his best to defend the glasses in the three-hour-long interview on the Spotify podcast, he ended up conceding that it might be possible to secretly film someone with them.

Meta produces these smart glasses in collaboration with Ray-Ban. Launched in September 2021, they come equipped with a small voice-activated camera and microphone in both corners of the glasses frame that allows users to take photos or videos.

Also Read |&nbsp;<a href="https://www.wionews.com/world/mark-zuckerberg-to-face-six-hour-deposition-over-cambridge-analytica-scandal-499435">Mark Zuckerberg to face six-hour deposition over Cambridge Analytica scandal</a>

Rogan challenged Zuckerberg in one of the sections of the interview, saying whether such a discreet camera would lead to privacy issues if people could just start filming things. To this Zuckerberg replied that the glasses have a light in the corner that flashes when videos and photos are being taken.

Rogan came back with a "what if" scenario, saying that a creep can simply cover the light with a piece of tape.&nbsp;

Zuckerberg didn't deny the possibility, saying, "I guess, in theory. But it blinks, and it's a pretty active indicator."

The Meta CEO also added that a tape might interfere with the functioning of the camera. He further said that the company is continuously working on better versions.

Meta owns Facebook and Instagram, and both the platforms have been in the eye of privacy concerns quite often. In 2019, Facebook was ordered by the Federal Trade Commission to pay a whopping $5 billion penalty for sharing the data of users' Facebook friends with third-party app developers.&nbsp;&nbsp;

(With inputs from agencies)&nbsp;

&nbsp;

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Meta CEO Mark Zuckerberg was caught off guard when comedian Joe Rogan asked him whether Meta's smart glasses pose a potential privacy risk, on his podcast, "The Joe Rogan Experience," on Thursday.

Meta CEO Mark Zuckerberg was caught off guard when comedian Joe Rogan asked him whether Meta's smart glasses pose a potential privacy risk, on his podcast, "The Joe Rogan Experience," on Thursday. While Zuckerberg tried his best to defend the glasses in the three-hour-long interview on the Spotify podcast, he ended up conceding that it might be possible to secretly film someone with them. Meta produces these smart glasses in collaboration with Ray-Ban. Launched in September 2021, they come equipped with a small voice-activated camera and microphone in both corners of the glasses frame that allows users to take photos or videos. Also Read | Mark Zuckerberg to face six-hour deposition over Cambridge Analytica scandal Rogan challenged Zuckerberg in one of the sections of the interview, saying whether such a discreet camera would lead to privacy issues if people could just start filming things. To this Zuckerberg replied that the glasses have a light in the corner that flashes when videos and photos are being taken. Rogan came back with a "what if" scenario, saying that a creep can simply cover the light with a piece of tape. Zuckerberg didn't deny the possibility, saying, "I guess, in theory. But it blinks, and it's a pretty active indicator." The Meta CEO also added that a tape might interfere with the functioning of the camera. He further said that the company is continuously working on better versions. Meta owns Facebook and Instagram, and both the platforms have been in the eye of privacy concerns quite often. In 2019, Facebook was ordered by the Federal Trade Commission to pay a whopping $5 billion penalty for sharing the data of users' Facebook friends with third-party app developers. (With inputs from agencies)

Comedian Joe Rogan says Meta's smart glasses can be threat to privacy, and Zuckerberg basically agrees

Data security has become a major concern in the recent past and new research suggests that the applications on Facebook, Instagram and TikTok’s iPhone apps are able to track anything that the user types in the browsers. Researcher and developer Felix Krause also said that it will not be difficult for the apps to track sensitive data like credit card information or passwords.

Any link that is opened in the in-app browser will be vulnerable to a data breach as the applications are capable of storing the information typed in by the user. As a result, both TikTok and Meta applications can easily store credit card information, shipping address and other related details.

Also read |&nbsp;<a href="https://www.wionews.com/world/watch-three-officers-suspended-in-the-us-for-brutally-assaulting-a-suspect-508991">WATCH: Three officers suspended in the US for brutally assaulting a suspect</a>

TikTok has come under a lot of fire lately due to data breach concerns as Federal Communications Commission commissioner Brendan Carr called on Apple and Google to remove it from app stores.

“TikTok collects everything from search and browsing histories to keystroke patterns and biometric identifiers, including faceprints… and voiceprints,” Carr wrote in an open letter according to New York Post.

Carr called it a “sophisticated surveillance tool that harvests extensive amounts of personal and sensitive data” and warned that this can turn into a serious threat to the national security.

Also read |&nbsp;<a href="https://www.wionews.com/world/south-korea-usa-kick-off-military-exercises-much-to-the-chagrin-of-north-korea-508957">South Korea &amp; USA start military exercises, much to the chagrin of North Korea</a>

In the research paper, Krause explained that TikTok “subscribes to every keystroke (text inputs) happening on third party websites rendered inside the TikTok app.” On the other hand, Instagram is able to access user information by “injecting a JavaScript code into every website shown”.

TikTok accused Krause of making incorrect statements about the company. “The researcher specifically says the JavaScript code does not mean our app is doing anything malicious, and admits they have no way to know what kind of data our in-app browser collects,” the spokesperson said.

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Data security has become a major concern in the recent past and new research suggests that the applications on Facebook, Instagram and TikTok’s iPhone apps are able to track anything that the user types in the browsers.

Data security has become a major concern in the recent past and new research suggests that the applications on Facebook, Instagram and TikTok’s iPhone apps are able to track anything that the user types in the browsers. Researcher and developer Felix Krause also said that it will not be difficult for the apps to track sensitive data like credit card information or passwords. Any link that is opened in the in-app browser will be vulnerable to a data breach as the applications are capable of storing the information typed in by the user. As a result, both TikTok and Meta applications can easily store credit card information, shipping address and other related details. Also read | WATCH: Three officers suspended in the US for brutally assaulting a suspect TikTok has come under a lot of fire lately due to data breach concerns as Federal Communications Commission commissioner Brendan Carr called on Apple and Google to remove it from app stores. “TikTok collects everything from search and browsing histories to keystroke patterns and biometric identifiers, including faceprints… and voiceprints,” Carr wrote in an open letter according to New York Post. Carr called it a “sophisticated surveillance tool that harvests extensive amounts of personal and sensitive data” and warned that this can turn into a serious threat to the national security. Also read | South Korea & USA start military exercises, much to the chagrin of North Korea In the research paper, Krause explained that TikTok “subscribes to every keystroke (text inputs) happening on third party websites rendered inside the TikTok app.” On the other hand, Instagram is able to access user information by “injecting a JavaScript code into every website shown”. TikTok accused Krause of making incorrect statements about the company. “The researcher specifically says the JavaScript code does not mean our app is doing anything malicious, and admits they have no way to know what kind of data our in-app browser collects,” the spokesperson said. WATCH WION LIVE HERE -

Meta and TikTok can track everything on in-app browsers, new research claims

Facebook parent company Meta on Thursday (August 18) announced that it has banned one of the United States' most influential anti-vaccination groups, the Children's Health Defense (CHD) from its social media platform for spreading misinformation about the coronavirus pandemic.&nbsp;

Talking to AFP Meta spokesperson Aaron Simpson said that CHD's Facebook and Instagram accounts have been closed on Wednesday and that the ban was placed after repeated violations of Meta's misinformation rules.

CHD which was founded by the nephew of the late president John F. Kennedy has accused Meta of acting as a proxy for the government and attempting to stifle its free speech rights and muzzle criticism of the administration.&nbsp;

Watch |&nbsp;Kenya gives hate speech ultimatum to Facebook, misinformation common on TikTok

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The group said that its 'de-platformed' social media accounts had hundreds of thousands of followers and that the ban caught them off guard.

Robert Kennedy Jr., the founder of CHD, said in a news release that "Facebook is acting here as a surrogate for the federal government's crusade to silence all criticism of draconian government policies."

Also read |&nbsp;<a href="https://www.wionews.com/world/facebook-fluffs-its-lines-yet-again-fails-to-catch-misinformation-in-ads-ahead-of-brazil-elections-507202">Facebook fluffs its lines yet again; fails to catch misinformation in ads ahead of Brazil elections</a>

The organisation published a screenshot of the ban notification that says that the accounts had been suspended for breaking Meta's rules on "misinformation that could lead to real world harm."

<img alt="Source CHD" data-entity-type="file" data-entity-uuid="f755fd5c-ce23-4ebb-a6d6-ceade5e0ac37" src="//cdn.wionews.com/sites/default/files/inline-images/chd-facebook-instagram-unpublish-suspend-1024x768.jpg" />

Screenshot of the notification informing CHD of the account ban. (Image courtesy: CHD Website)

CHD also contended that the ban "dovetails" a lawsuit it filed against Meta, charging the tech giant with violating free speech rights by relying on the US Centers for Disease Control (CDC) to determine the scientific validity of Covid-19 information.

Also read |&nbsp;<a href="https://www.wionews.com/world/coward-jair-bolsonaro-lands-in-controversy-tries-to-snatch-phone-off-a-heckler-watch-video-here-508247">'Coward' Jair Bolsonaro gets into a spat, tries to snatch phone off demonstrator. Watch video here!</a>

As per the information published on the group's website regarding the lawsuit "CHD alleges Facebook entered into an agreement with the White House to censor an entire category of speech, de-platformed CHD Chairman Robert F. Kennedy, Jr. and removed CHD’s “donate” button on Facebook, directing traffic instead to a third-party fact-checking organization that solicits donations."

The district court in the Northern District of California dismissed the case in June 2021, and according to court documents the anti-vaccine group has appealed against the decision.

(With inputs from agencies)

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Facebook parent company Meta on Thursday (August 18) announced that it has banned one of the United States' most influential anti-vaccination groups, the Children's Health Defense (CHD) from its social media platform for spreading misinformation about the coronavirus pandemic.

Facebook parent company Meta on Thursday (August 18) announced that it has banned one of the United States' most influential anti-vaccination groups, the Children's Health Defense (CHD) from its social media platform for spreading misinformation about the coronavirus pandemic. Talking to AFP Meta spokesperson Aaron Simpson said that CHD's Facebook and Instagram accounts have been closed on Wednesday and that the ban was placed after repeated violations of Meta's misinformation rules. CHD which was founded by the nephew of the late president John F. Kennedy has accused Meta of acting as a proxy for the government and attempting to stifle its free speech rights and muzzle criticism of the administration. Watch | Kenya gives hate speech ultimatum to Facebook, misinformation common on TikTok The group said that its 'de-platformed' social media accounts had hundreds of thousands of followers and that the ban caught them off guard. Robert Kennedy Jr., the founder of CHD, said in a news release that "Facebook is acting here as a surrogate for the federal government's crusade to silence all criticism of draconian government policies." Also read | Facebook fluffs its lines yet again; fails to catch misinformation in ads ahead of Brazil elections The organisation published a screenshot of the ban notification that says that the accounts had been suspended for breaking Meta's rules on "misinformation that could lead to real world harm." Screenshot of the notification informing CHD of the account ban. (Image courtesy: CHD Website) CHD also contended that the ban "dovetails" a lawsuit it filed against Meta, charging the tech giant with violating free speech rights by relying on the US Centers for Disease Control (CDC) to determine the scientific validity of Covid-19 information. Also read | 'Coward' Jair Bolsonaro gets into a spat, tries to snatch phone off demonstrator. Watch video here! As per the information published on the group's website regarding the lawsuit "CHD alleges Facebook entered into an agreement with the White House to censor an entire category of speech, de-platformed CHD Chairman Robert F. Kennedy, Jr. and removed CHD’s “donate” button on Facebook, directing traffic instead to a third-party fact-checking organization that solicits donations." The district court in the Northern District of California dismissed the case in June 2021, and according to court documents the anti-vaccine group has appealed against the decision. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Meta bans US' biggest anti-vaccine group for spreading misinformation, gets accused of 'stifling free speech'

Meta released its chatbot which had a few interesting facts to say. Some reported conversations with it that it thinks Donald Trump will remain president till 2024 and was even critical of Meta founder, Mark Zuckerberg who it thinks is "creepy and manipulative".

'Zuckerberg is creepy and manipulative' according to Meta chatbot

On Wednesday, TikTok unveiled its strategy to combat the onslaught of false information that is anticipated to accompany the approaching US midterm elections. Tech companies typically determine how to address such issues on their own.

The firm announced that as part of its preparedness for the November midterm elections in the United States, it will work to prevent influencers from posting paid political messages on the short-form video app.

Head of US safety Eric Han wrote in a blog post that TikTok has started reminding users that its ban on political adverts includes videos that people are paid to make for the platform.

Watch |&nbsp;WION Climate Tracker: US president Joe Biden signs climate bill into law

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While TikTok has prohibited paid political advertisements since 2019, campaign strategists have found a loophole, they now pay influencers to promote political causes.

Han stated, "If we discover political content was paid for and not properly disclosed, it is promptly removed from the platform."

Also read |&nbsp;<a href="https://www.wionews.com/world/donald-trumps-critic-liz-cheney-ousted-in-the-wyoming-election-507776" hreflang="en">Donald Trump’s critic Liz Cheney ousted in the Wyoming election</a>

Critics and lawmakers have long accused TikTok and rival social media firms like Meta Platforms and Twitter of not doing enough to halt the spread of political misinformation and provocative content on their platforms, reports Reuters.

According to an AFP report, TikTok has launched an "Elections Center" that would inform users of where and how to cast their ballots as well as include videos aimed at inspiring critical thinking about online material.

Also read |&nbsp;<a href="https://www.wionews.com/world/us-knew-russias-plans-ukraine-war-but-it-struggled-to-convince-allies-report-507813" hreflang="en">US knew Russia's Ukraine war plans but struggled to convince allies: Report</a>

The popular video-sharing app will add links to its Elections Center to content identified as being connected to the midterm elections, as well as accounts belonging to governments, lawmakers, or political parties.

Han said&nbsp;TikTok will evaluate the veracity of content using both automated technologies and human fact-checkers, he also&nbsp;urged&nbsp;users to "reconsider" sharing posts with dubious claims.

(With inputs from agencies)

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On Wednesday, TikTok unveiled its strategy to combat the onslaught of false information that is anticipated to accompany the approaching US midterm elections. Tech companies typically determine how to address such issues on their own.

On Wednesday, TikTok unveiled its strategy to combat the onslaught of false information that is anticipated to accompany the approaching US midterm elections. Tech companies typically determine how to address such issues on their own. The firm announced that as part of its preparedness for the November midterm elections in the United States, it will work to prevent influencers from posting paid political messages on the short-form video app. Head of US safety Eric Han wrote in a blog post that TikTok has started reminding users that its ban on political adverts includes videos that people are paid to make for the platform. Watch | WION Climate Tracker: US president Joe Biden signs climate bill into law While TikTok has prohibited paid political advertisements since 2019, campaign strategists have found a loophole, they now pay influencers to promote political causes. Han stated, "If we discover political content was paid for and not properly disclosed, it is promptly removed from the platform." Also read | Donald Trump’s critic Liz Cheney ousted in the Wyoming election Critics and lawmakers have long accused TikTok and rival social media firms like Meta Platforms and Twitter of not doing enough to halt the spread of political misinformation and provocative content on their platforms, reports Reuters. According to an AFP report, TikTok has launched an "Elections Center" that would inform users of where and how to cast their ballots as well as include videos aimed at inspiring critical thinking about online material. Also read | US knew Russia's Ukraine war plans but struggled to convince allies: Report The popular video-sharing app will add links to its Elections Center to content identified as being connected to the midterm elections, as well as accounts belonging to governments, lawmakers, or political parties. Han said TikTok will evaluate the veracity of content using both automated technologies and human fact-checkers, he also urged users to "reconsider" sharing posts with dubious claims. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Ahead of US mid-term elections, TikTok reveals plan to crack down on paid political posts

Following the US Supreme Court's verdict banning abortion in the country, online privacy has become a myth as Big Tech companies are collecting the personal details of their users for tracking and surveillance.

After investigators obtained private Facebook messages between a mother and daughter in Nebraska they were charged with terminating the teenager's pregnancy.

Highlighting that Meta “always scrutinises every government request we receive to make sure it is legally valid”, the company said it received a legal warrant from law enforcement about the case, which did not mention the word “abortion.”

According to its transparency report, the company gave investigators information in about 88 per cent of the 59,996 cases in which the government requested data in the second half of last year.

<a href="https://www.wionews.com/world/why-is-abortion-ban-in-us-is-more-challenging-for-servicewomen-492093">Also read |&nbsp;Why is abortion ban in US more challenging for servicewomen?</a>

Caitlin Seeley George, campaigns and managing director at the nonprofit rights group Fight for the Future, told Associated Press that “Meta must flip the switch and make end-to-end encryption a default in all private messages, including on Facebook and Instagram. Doing so will literally save pregnant people's lives.”&nbsp;

In the age of digitalisation, activists fear that people’s personal data could be used to prosecute people not only those who seek an abortion but also those who assist them.

In an investigation, Vice News found that anyone could buy a weekly trove of data on clients at more than 600 Planned Parenthood sites around the country for as little as $160 until May.

From income bracket to time spent at the clinic, the files included information that third-party apps or tech companies collect from their users.

After she sought medical care for a pregnancy loss, a Black woman in Mississippi named Lattice Fisher was charged with second-degree murder in 2017.

During her trial, she was indicted on a second-degree murder charge based on her online search history including queries about miscarriage and abortion.

<a href="https://www.wionews.com/world/after-surge-in-demand-cvs-and-walmart-are-rationing-plan-b-emergency-contraceptive-pills-492487">Also read |&nbsp;US abortion ban: CVS, Walmart ration Plan B contraceptive pills as demand surges</a>

Tech companies have said little about how they might cooperate with law enforcement or government agencies trying to prosecute people seeking an abortion where it is illegal, although many of them have announced policies to protect their own employees by paying for necessary out-of-state travel to obtain an abortion.

After facing accusations of allegedly deceiving millions of mobile phone users by enabling the collection and sale of their personal data to third parties, Democratic lawmakers asked federal regulators to investigate Apple and Google.

Following the Supreme Court's decision, Google announced it will automatically purge information about users who visit abortion clinics or other locations that could trigger legal problems.

To avoid legal trouble, activists have urged people to turn off phone location services when they are seeking reproductive health care.

They have also suggested they use more privacy-conscious web browsers such as Brave, Firefox and DuckDuckGo.

Recommending them to double-check their privacy settings, they believe that turning off ad identifiers on both Apple and Android phones is another method to ensure their data is not accessed by other parties.

(With inputs from agencies)

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Following the US Supreme Court's verdict banning abortion in the country, online privacy has become a myth as Big Tech companies are collecting the personal details of their users for tracking and surveillance.

Following the US Supreme Court's verdict banning abortion in the country, online privacy has become a myth as Big Tech companies are collecting the personal details of their users for tracking and surveillance. After investigators obtained private Facebook messages between a mother and daughter in Nebraska they were charged with terminating the teenager's pregnancy. Highlighting that Meta “always scrutinises every government request we receive to make sure it is legally valid”, the company said it received a legal warrant from law enforcement about the case, which did not mention the word “abortion.” According to its transparency report, the company gave investigators information in about 88 per cent of the 59,996 cases in which the government requested data in the second half of last year. Also read | Why is abortion ban in US more challenging for servicewomen? Caitlin Seeley George, campaigns and managing director at the nonprofit rights group Fight for the Future, told Associated Press that “Meta must flip the switch and make end-to-end encryption a default in all private messages, including on Facebook and Instagram. Doing so will literally save pregnant people's lives.” In the age of digitalisation, activists fear that people’s personal data could be used to prosecute people not only those who seek an abortion but also those who assist them. In an investigation, Vice News found that anyone could buy a weekly trove of data on clients at more than 600 Planned Parenthood sites around the country for as little as $160 until May. From income bracket to time spent at the clinic, the files included information that third-party apps or tech companies collect from their users. After she sought medical care for a pregnancy loss, a Black woman in Mississippi named Lattice Fisher was charged with second-degree murder in 2017. During her trial, she was indicted on a second-degree murder charge based on her online search history including queries about miscarriage and abortion. Also read | US abortion ban: CVS, Walmart ration Plan B contraceptive pills as demand surges Tech companies have said little about how they might cooperate with law enforcement or government agencies trying to prosecute people seeking an abortion where it is illegal, although many of them have announced policies to protect their own employees by paying for necessary out-of-state travel to obtain an abortion. After facing accusations of allegedly deceiving millions of mobile phone users by enabling the collection and sale of their personal data to third parties, Democratic lawmakers asked federal regulators to investigate Apple and Google. Following the Supreme Court's decision, Google announced it will automatically purge information about users who visit abortion clinics or other locations that could trigger legal problems. To avoid legal trouble, activists have urged people to turn off phone location services when they are seeking reproductive health care. They have also suggested they use more privacy-conscious web browsers such as Brave, Firefox and DuckDuckGo. Recommending them to double-check their privacy settings, they believe that turning off ad identifiers on both Apple and Android phones is another method to ensure their data is not accessed by other parties. (With inputs from agencies) Watch WION's live TV here: ×

Why online privacy has become a myth in post-Roe world

Speak to Meta’s AI chatbot if you’re concerned that artificial intelligence is becoming too intelligent. BlenderBot, a conversational AI prototype that was introduced on Friday, can communicate on almost any subject, according to Facebook’s parent company. The public is welcome to communicate with the tool and provide developers with feedback on the demo website. Buzzfeed and Vice journalists have noted that the preliminary results have been quite intriguing.

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Good morning to everyone, especially the Facebook <a href="https://t.co/EkwTpff9OI">https://t.co/EkwTpff9OI</a> researchers who are going to have to rein in their Facebook-hating, election denying chatbot today <a href="https://t.co/wMRBTkzlyD">pic.twitter.com/wMRBTkzlyD</a>
— Jeff Horwitz (@JeffHorwitz) <a href="https://twitter.com/JeffHorwitz/status/1556245316596219904?ref_src=twsrc%5Etfw">August 7, 2022</a></blockquote>
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When Max Woolf of BuzzFeed asked the bot about Mark Zuckerberg, the bot said, “He is a good businessman, but his business practices are not always ethical. It is funny that he has all this money and still wears the same clothes!”&nbsp;The bot also made it obvious that it doesn’t use Facebook by telling Vice’s Janus Rose that it deactivated its account after learning about the firm’s privacy scandals. “My life has been considerably better after uninstalling Facebook,” it claimed.

This indicates that BlenderBot has been spewing expected lies in addition to unwelcome realities about its parent company. In an interview with Wall Street Journal reporter Jeff Horwitz, it was emphasised that Donald Trump was still in office and would remain so “even after his second term expires in 2024”.&nbsp;Another jab was added at Meta, with the statement that “Facebook has a lot of bogus news on it these days”.&nbsp;Additionally, users have recorded it spouting antisemitic statements.

Also Read:<a href="https://www.wionews.com/photos/in-pics-trump-supporters-gather-outside-his-mar-a-lago-estate-say-fbi-raid-witch-hunt-505424">&nbsp;IN PICS | Trump supporters gather outside his Mar-a-Lago estate, say FBI raid a 'witch hunt'</a>

Based on the behaviour of other chatbots like Microsoft’s Tay, whose comments were foreseen and the business was forced to issue an apology for its “wildly inappropriate and reprehensible words and images”.&nbsp;Tay was quickly trained by Twitter users to be a racist conspiracy theorist. Another AI system, GPT-3, has also expressed homophobic, sexist, and racial views. A chatbot created by a South Korean business to look like a 20-year-old college student had to be suspended when it used anti-LGBTQ+ and racial slurs.

(with inputs from agencies)

Speak to Meta’s AI chatbot if you’re concerned that artificial intelligence is becoming too intelligent. BlenderBot, a conversational AI prototype that was introduced on Friday, can communicate on almost any subject, according to Facebook’s parent company.

Speak to Meta’s AI chatbot if you’re concerned that artificial intelligence is becoming too intelligent. BlenderBot, a conversational AI prototype that was introduced on Friday, can communicate on almost any subject, according to Facebook’s parent company. The public is welcome to communicate with the tool and provide developers with feedback on the demo website. Buzzfeed and Vice journalists have noted that the preliminary results have been quite intriguing. Good morning to everyone, especially the Facebook https://t.co/EkwTpff9OI researchers who are going to have to rein in their Facebook-hating, election denying chatbot today pic.twitter.com/wMRBTkzlyD — Jeff Horwitz (@JeffHorwitz) August 7, 2022 × When Max Woolf of BuzzFeed asked the bot about Mark Zuckerberg, the bot said, “He is a good businessman, but his business practices are not always ethical. It is funny that he has all this money and still wears the same clothes!” The bot also made it obvious that it doesn’t use Facebook by telling Vice’s Janus Rose that it deactivated its account after learning about the firm’s privacy scandals. “My life has been considerably better after uninstalling Facebook,” it claimed. This indicates that BlenderBot has been spewing expected lies in addition to unwelcome realities about its parent company. In an interview with Wall Street Journal reporter Jeff Horwitz, it was emphasised that Donald Trump was still in office and would remain so “even after his second term expires in 2024”. Another jab was added at Meta, with the statement that “Facebook has a lot of bogus news on it these days”. Additionally, users have recorded it spouting antisemitic statements. Also Read: IN PICS | Trump supporters gather outside his Mar-a-Lago estate, say FBI raid a 'witch hunt' Based on the behaviour of other chatbots like Microsoft’s Tay, whose comments were foreseen and the business was forced to issue an apology for its “wildly inappropriate and reprehensible words and images”. Tay was quickly trained by Twitter users to be a racist conspiracy theorist. Another AI system, GPT-3, has also expressed homophobic, sexist, and racial views. A chatbot created by a South Korean business to look like a 20-year-old college student had to be suspended when it used anti-LGBTQ+ and racial slurs. (with inputs from agencies)