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☆ Meta's AI search is weird and uncanny — and I'm not sure who it's for
▼ + stars: | 2024-04-30 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

AdvertisementFacebook, WhatsApp, and Instagram have integrated Meta AI into the search fields of their mobile apps. The search bar in the Facebook and Instagram apps is one place you probably know very well. You come to the Facebook search bar to type in the name of your local Buy Nothing group, but instead, you see an animated blue circle with "Ask Meta AI anything." The search bar on the Facebook app now has AI prompts. Instagram search suggestions are slightly more Instagram-y.

Persons: Instagram, —, Meta, Pew, ike, .. F, els Organizations: Service, Facebook, Fast Company, rit, up id, Meta Locations: uri

☆ Wall Street stands by Meta even as costs rise and the stock sells off, cites AI leadership
▼ + stars: | 2024-04-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Wall Street analysts are standing by Meta Platforms despite Thursday's sell-off. The analyst cut his price target to $480 from $535 a share, noting that building and creating new products is no easy — or quick — feat. The adjusted price target reflects nearly 3% downside from Wednesday's close. Morgan Stanley analyst Brian Nowak retained his overweight rating and $550 price target, saying the firm remains "buyers through Meta's investments." Meta isn't alone in this feat, with Nowak expecting competitors to undertake similar steps as more AI opportunities arise.

Persons: Doug Anmuth, Benjamin Black, Black, Citi's Ronald Josey, Goldman Sachs, Eric Sheridan, Morgan Stanley, Brian Nowak, Meta isn't, Nowak, Bank of America's Justin Post, Ross Sandler, Mark, Zuckerberg, Sandler Organizations: Meta, Facebook, Deutsche Bank, Bank of America's, Barclays

☆ S&P 500 gives up its earlier gains — but Meta bucks the trend as new AI model debuts
▼ + stars: | 2024-04-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Meta gains : Shares of Meta Platforms rose 2% in the session. He navigated the downturn in U.S. department stores," Jim Cramer said Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, pounced, That's, Jim Cramer's, Estee Lauder, Fabrizio Freda, Jim, Horton, D.R Horton, Stanley Black, Decker Organizations: CNBC, Treasury, Nasdaq, Dow Jones, Facebook, Club, Meta, Deutsche Bank, VanEck Semiconductor, Micron, Netflix, PPG Industries, Procter, Gamble, American Express, Jim Cramer's Charitable Locations: Estee, U.S, China

☆ Meta's continued rally could hinge on the fortunes of upstart retailers Temu and Shein
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +9 min

Temu is owned by PDD Holdings , a Chinese company that moved its principal office to Ireland last year. Meta is expected to report revenue growth of 22% for the quarter to $39.2 billion, according to analysts surveyed by LSEG, formerly Refinitiv. JMP analysts estimated that Temu and Shein spent roughly $600 million and $200 million, respectively, on Facebook and Instagram ads in the third quarter. In December, Temu sued Shein, alleging questionable business practices and a "mafia-style intimidation of suppliers," according to legal documents. Meta isn't the only U.S. internet company effected by the speedy growth from Temu and Shein.

Persons: Mark Zuckerberg, Jack Ma, Shu Zhang, Victor Lee, Lee, who's, Shein, Meta, Pavlo Gonchar, Temu, didn't, Susan Li, data.AI, It's, Chris Mack, Harding Loevner, they've, Mack, Shein confidentially, Mike Gallagher, Gallagher, Brian Wieser, Josh Silverman, Silverman Organizations: Alibaba, China Development Forum, Reuters, Facebook, Hasbro, Unified Commerce, Amazon, PDD Holdings, U.S, Mobile, Meta, LSEG, Getty, CNBC, Cyberspace Administration, China, Street Journal, Google Locations: Beijing, China, Ireland, Singapore, UKRAINE, U.S, United States, Wall, Asia, Pacific, Temu, Meta

☆ Meta is rolling out Threads, Twitter is blowing itself up in the quest of becoming the everything app, and YouTube is just over here rounding out its corners
▼ + stars: | 2023-08-23 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

ICYMI, YouTube is introducing rounded corners. In stark contrast to Meta's and Twitter's headline-grabbing changes, YouTube quietly unveiled a very subtle one: rounded corners, as seen in the screenshot below. YouTube videos now have rounded corners instead of sharp edges. InsiderA YouTube spokesperson confirmed the change to the Verge on Tuesday, saying that rounded corners on its videos will soon be coming to all users. The platform introduced its "Twitter-killer" rival before quickly losing the majority of its active users in a month.

Persons: Twitter —, Elon Musk, That's, — Organizations: YouTube, Morning, Twitter, Facebook Locations: Canada

☆ Why Zuckerberg's Threads App Will Never Be the New Twitter
▼ + stars: | 2023-07-23 | by ( Paris Marx | ) www.businessinsider.com time to read: +12 min

Threads, the newest social-media app from Meta, rocketed past 100 million users less than a week after it went live. The app has since been hailed as the Twitter replacement people have been clamoring for since Elon Musk's takeover — and bungling — of the platform. That's because Meta isn't trying to fill the shoes of its competitor. In other words, Threads isn't targeting the entire Twitter user base, just a segment of it. In its bid for a cash-cow app, Threads is foregoing everything that made Twitter special — no political debate, no train updates, no crowdsourcing breaking news.

Persons: Mark Zuckerberg's, Adam Mosseri, Meta isn't, Donald Trump, —, Mosseri, Meta, Musk, it's, Jennifer S, that's, Paris Marx Organizations: Meta, Elon, Twitter, Facebook, Google, Transportation Locations: Australia, Canada, California, Paris

☆ Why Threads will never be the new Twitter
▼ + stars: | 2023-07-23 | by ( Paris Marx | ) www.businessinsider.com time to read: +12 min

While Twitter became popular as a place to stay informed and get access to critical information, Meta wants Threads to be a hangout space for lifestyle brands and influencers. Enter: ThreadsIn a Threads post, Mosseri said that the company's goal "isn't to replace Twitter" but "to create a public square for communities on Instagram that never really embraced Twitter and for communities on Twitter (and other platforms) that are interested in a less angry place for conversations." In other words, Threads isn't targeting the entire Twitter user base, just a segment of it. On some level, Threads' aversion to Twitter's free-flowing conversation makes sense — discourse on Twitter can get pretty toxic. In its bid for a cash-cow app, Threads is foregoing everything that made Twitter special — no political debate, no train updates, no crowdsourcing breaking news.

☆ As Twitter continues to implode, advertisers pin their hopes on Threads
▼ + stars: | 2023-07-12 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +8 min

Advertisers are eagerly watching how Meta's new Threads messaging app develops over the next few months as they look for a new social channel to reach consumers while Twitter continues to struggle. Meta is currently more focused on building the core Threads product as opposed to monetizing the app, Instagram head Adam Mosseri has said in various interviews and a post on Threads. "It's the most instant onboarding experience I've ever experienced in the history of my career, and my entire career has been in social," Tipograph said. Although it was easy for current Instagram users to create Threads accounts, he said, it's unclear how active they will be on the service. Since Threads is so new, it's unclear which kind of audience Threads is attracting, Tipograph said.

Persons: Natasha Blumenkron, Elon Musk, Blumenkron, Adam Mosseri, Mosseri, Rachel Tipograph, MikMak, Linda Yaccarino, Tipograph, It's, I've, Tal Jacobson, Jacobson, Instagram's Mosseri, Brian Wieser, Wieser, Angelo Carusone, Instagram, Carusone, Musk, Nick Fuentes, antisemite, isn't Organizations: Twitter, CNBC, Tesla, Meta, Perion, Companies, Media Matters, America, Media, Free Press, Tech, Facebook Locations: Instagram

☆ Meta pulls the curtain back on its A.I. chips for the first time
▼ + stars: | 2023-05-18 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +5 min

She said that Meta has a "multi-generational roadmap" for its family of AI chips that include processors used for the task of training AI models, but declined to offer details beyond the new inference chip. Reuters previously reported that Meta cancelled one AI inference chip project and started another that was supposed to roll out around 2025, but Bjorlin declined to comment on that report. Meta used the supercomputer, which contains 16,000 Nvidia A100 GPUs, to train the company's LLaMA language model, among other uses. Unlike other tech companies, Meta released its LLaMA language model to researchers so they can learn from the technology. However, the LlaMA language model was then leaked to the wider public, leading to many developers building apps incorporating the technology.

☆ Mark Zuckerberg said the word 'AI' no less than 27 times during a Meta earnings call this week
▼ + stars: | 2023-04-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Mark Zuckerberg referenced AI about 27 times at Meta's earnings call on Wednesday. Mark Zuckerberg was careful to remind investors on Wednesday that Meta is very much invested in the AI arms race underway in the tech industry. Overall, the word "AI" was used 57 times on Wednesday between Zuckerberg, analysts' questions, and comments from Meta CFO Susan Li. At the previous earnings call in February, Zuckerberg referenced AI about 16 times and before OpenAI's ChatGPT made headlines in November, he addressed it 9 times. Meta's stock jumped 14% on Thursday after the company's earnings beat Wall Street expectations.

☆ Mark Zuckerberg isn't ruling out future layoffs at Meta 'given the volatility,' a report says
▼ + stars: | 2023-04-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg told staff he couldn't promise that Meta wouldn't carry out future layoffs, per WSJ. "I generally feel good about the position here," and Meta has no further cuts planned, Zuckerberg said. Meta isn't ruling out the possibility of future layoffs, CEO Mark Zuckerberg told staff on Thursday, per The Wall Street Journal. "I wanted to front-load it as early in the year as possible," Zuckerberg told staff on Thursday, per The Journal. The batch of layoffs announced this week was "always going to be the most difficult and controversial one," he added, per The Journal.

☆ After losing billions of dollars on the metaverse, Mark Zuckerberg's launching a 'top-level' team at Meta to develop AI products for WhatsApp, Messenger, and Instagram
▼ + stars: | 2023-02-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Meta's foraying into generative AI amid a rush into the technology following ChatGPT's popularity. Mark Zuckerberg said Meta will be creating a new "top-level product group" focused on generative AI. But Meta lost nearly $14 billion in 2022 amid its relentless pursuit of the metaverse. Meta's foray into generative AI follows a big rush into the technology after chatbot ChatGPT went viral. His relentless pursuit into the metaverse cost Meta $13.7 billion in 2022.

☆ An ex-Instagram employee says Meta's 'impatience' has hurt its shopping efforts
▼ + stars: | 2023-02-22 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

But as Instagram axes shopping products, ex-staffer Meghana Dhar points to Meta's "impatience." The moves have left many asking: What's going on with Instagram shopping? While at Instagram, Dhar worked on Instagram's early shopping features, from onboarding brands to getting John Mayer to host a live shopping event with laundry company The Laundress. But it's also had a tendency to launch and then axe shopping products, like Instagram (and Facebook) live shopping and affiliate marketing. Scaling back on shopping, for now, could also be a blessing in disguise for Meta, Dhar added.

☆ Early Facebook investor says Zuckerberg isn't cutting costs fast enough
▼ + stars: | 2023-01-19 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Jim Breyer, one of Facebook's earliest investors, believes that Meta isn't cutting costs fast enough amid the company slated to report its third consecutive quarterly revenue decline. "But they're gonna be under a lot of pressure for the next 12 months, and they're not cutting costs fast enough, in my humble opinion." "The Metaverse is years away," Breyer added, regarding the company's 2021 name change and subsequent multibillion-dollar investment into virtual reality and augmented reality technologies. "It'll be Apple, it'll be Google, it'll be Sony as well as Oculus, but watch for a big holiday in the world of virtual reality." At the University of Texas, they just banned Tiktok from all devices," Breyer said referring to a December decision by university officials.

☆ Meta's ad business is making a comeback thanks to its AI-powered improvements — but core Facebook is still struggling to get spend
▼ + stars: | 2023-01-12 | by ( Lauren Johnson | Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

They're now seeing improvements in performance, and are planning to devote bigger budgets to the platform this year. Those capabilities are finally showing up in Meta's ad offering. Another example is a recently-released feature called Advantage+ that uses Meta's AI to find relevant audiences for ads. Analysts at Arete research forecast a 6% decline in Facebook's annual ad revenue to $72.4 billion this year, though they also expect Instagram ad revenue will grow by 2% to $36 billion. Besides TikTok, Meta is now going head-to-head with Apple, and a host of new retail media and streaming TV ad businesses.

☆ Meta considered building a Twitter competitor to capitalize on Elon Musk's 'crisis' at company, report says: 'LET'S GO FOR THEIR BREAD AND BUTTER'
▼ + stars: | 2022-12-07 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Meta brainstormed how to build a Twitter competitor as Elon Musk took over the platform, NYT reports. Since, Elon Musk took over Twitter the company has lost advertisers and around half its staff. "Twitter is in crisis and Meta needs its mojo back," one Meta employee wrote in a post, per The Times. Since the richest man in the world took Twitter private in October there's been a large amount of uncertainty regarding the company's future. Without major advertisers, Twitter could flounder as ads accounted for about 90% of Twitter's revenue last year.

☆ Here's why Mark Zuckerberg can't be fired as CEO of Meta
▼ + stars: | 2022-11-06 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +3 min

Zuckerberg structured Meta so that he has total control of any decisions that affect the company. Meta isn't the only company that gives insiders super-voting powers. However, that has never been the case at Zuckerberg's company. Meta isn't aloneBut Meta isn't the only tech company that gives its insiders supervoting powers. Ritter thinks Zuckerberg truly believes he's doing what's best for Meta shareholders by pivoting his company toward the metaverse.

☆ Facebook probably has your phone number, even if you never shared it. Now it has a secret tool to let you delete it.
▼ + stars: | 2022-10-31 | by ( Shona Ghosh | ) www.businessinsider.com time to read: +9 min

Facebook almost certainly has your phone number and email address, even if you never handed them over. Now the firm has a new tool to let people check if Facebook has that data, and delete it. Meta/Shona Ghosh"You can ask us to confirm whether we have your phone number or email address," the firm states. It's possible that Meta isn't really technically deleting your phone number and emails at all, said Boiten. "It may well be that they only implement something like this on the outside — so at a point the phone number threatens to go outside the system, it says, 'This phone number is one we've been told we can't use,' rather than really removing information."

☆ Meta employees are bracing for possible layoffs as growth slows and spending on the metaverse soars
▼ + stars: | 2022-10-27 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

In other news, Elon Musk visited Twitter HQ Wednesday holding an unexpected accessory and Meta employees are bracing for layoffs as metaverse spending soars. Social media is dividing us — just not in the way you'd think. The like-minded bubbles we live in on social media are the reason we're so divided, right? Maybe not, according to new research, which found that social media exposes us to people and ideas we wouldn't otherwise encounter, which leads to polarization. Company insiders say Netflix made some avoidable missteps with its kids shows and that an upcoming adult animated show has been canceled.

☆ Facebook used to be a Big Tech giant — now Meta isn't even in the top 20 most valuable U.S. companies
▼ + stars: | 2022-10-27 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Far from Facebook's Big Tech days, Meta is no longer among the 20 most valuable U.S. companies after the stock sank 23% on Thursday. The company has shed 70% of its value this year and 74% since the stock peaked in September 2021, totaling over $730 billion in market cap lost. It's now worth half as much as Berkshire Hathaway and has a smaller market cap than companies including UnitedHealth , Chevron , Eli Lilly , Procter & Gamble , Bank of America and AbbVie . Within tech, the other two companies Meta has fallen behind are Tesla and Nvidia . Next on the list would be Oracle , which is currently valued at just over $200 billion, or $70 billion below Meta.

☆ Metaverse-obsessed Mark Zuckerberg refuses to cut costs. It's no wonder the stock tanked
▼ + stars: | 2022-10-26 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Club holding Meta Platforms (META) reported mixed third-quarter results and weak forward guidance after the closing bell Wednesday. While beating expectations, revenue for Q3 dropped 4% to $27.71 billion. As for profitability, Family of Apps operating income came in at $9.34 billion, short versus expectations of $9.65 billion. Facebook Global Average Revenue per User (ARPU): $9.41 versus expectations of $9.83. Capital expenditures (capex) guidance was tightened to a range of $32 billion to $33 billion versus $30 billion to $34 billion previously forecast and above the $30.41 billion consensus.

☆ Mark Zuckerberg sets expectations for his new $1,500 metaverse gadget at rock bottom
▼ + stars: | 2022-10-12 | by ( Steve Kovach | ) www.cnbc.com time to read: +3 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., demonstrates the Meta Quest Pro during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022. Mark Zuckerberg himself was too. His comments effectively place expectations for the success of the new Meta Quest Pro, which goes on sale Oct. 25, at next to zero. Specifically, he told The Verge "it's not going to be until later this decade" when metaverse gadgets like the Quest Pro will be "fully mature." WATCH: Meta CEO Mark Zuckerberg unveils $1,500 mixed reality headset, the Meta Quest Pro

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