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☆ Meta employees say internal posts on support for Palestinians have been 'censored,' in an open letter to CEO Mark Zuckerberg
▼ + stars: | 2024-05-03 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

A group of Meta employees is calling out what they claim is internal and external censorship by the company of any show of support for Palestinians amid Israel's war with Hamas. Business Insider confirmed that the letter was authored by a group of current Meta employees, some of whom have linked to the letter on their personal online profiles. While some improvements were made to the products, they "were achieved only by appealing to isolated product teams, with minimal senior leadership support or resources," it added. Microsoft's internal communication app also saw debates among employees about the war and even inflammatory language, BI previously reported. Are you a Meta employee or someone with a tip or insight to share?

Persons: Mark Zuckerberg, Zuckerberg, Feedback, dismissiveness, Kali Hays Organizations: Business, UN, Meta, BI, Hamas, Google Locations: Palestine, Gaza, Israel, Russia, Ukraine, Meta's Dublin, Ukrainian, khays@businessinsider.com

☆ Meta employees say internal posts on Palestine have been 'censored,' according to open letter to CEO Mark Zuckerberg
▼ + stars: | 2024-05-03 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

A group of Meta employees is calling out what they claim is internal and external censorship by the company of any show of support for Palestine amid Israel's ongoing war with Hamas. The letter demanded a general improvement in corporate inclusion efforts at Meta and asked the company to stop deleting internal posts from employees regarding Palestine. Business Insider confirmed that the letter was authored by a group of current Meta employees, some of whom have linked to the letter in personal online profiles. While some improvements were made to the products, they "were achieved only by appealing to isolated product teams, with minimal senior leadership support or resources." Are you a Meta employee or someone with a tip or insight to share?

Persons: Mark Zuckerberg, Zuckerberg, Feedback, dismissiveness, Kali Hays Organizations: Palestine, Business, UN, Meta, BI, Hamas, Google Locations: Palestine, Gaza, Meta, Israel, Russia, Ukraine, Meta's Dublin, Ukrainian, khays@businessinsider.com

Big tech companies have pulled back on PERM applications, often the first step to a green card. AdvertisementBig tech companies have backed off green card applications in a big way because the process has become tougher and there's less competition for talent. "If some of these people say 'yes, I'm interested,' then you're out of luck with the green card application." So this makes the green card process potentially easier outside of places like the Bay Area and NYC, she explained. Are you a foreign tech worker struggling with a green card application?

Persons: Ava Benach, —, Googlers, Benach, It's, Hugh Langley, Kali Hays, Eugene Kim Organizations: Big, Google, Service, Department of Labor, Washington DC, Amazon, Business, Meta, Companies, Citizenship, Immigration Services, Supply, Bay, Labor, Area, Big Tech, US, Department, Labor Department, Software Engineer, Research Locations: PERM, Silicon Valley, New York City, Washington, khays@businessinsider.com

☆ Snapchat avoided 'AI' and leaned into real experiences in its annual pitch to brands
▼ + stars: | 2024-05-02 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

During the Snap-owned app's pitch to brands at its NewFronts presentation on Wednesday in New York, the company emphasized the value of real-world experiences, or IRL, over social-media scrolling. Sharing became contrived, and social media as a whole began feeling like an inauthentic version of our lives rather than a source of genuine connection." It's plastered ads on competitive social media platforms and billboards with its "Less Social Media. Related storiesSnapchat executives mentioned AI just once during the NewFronts presentation, saying the company had used AI models to build augmented-reality lenses. Snap is not the only social platform addressing lonelinessSnapchat's war against social media taps into a broader trend.

Persons: —, Colleen DeCourcy, Cipriani, DeCourcy, TikTok, Dan Whateley, NewFront, Meta's, Mervana Parekh, Snapchat, Patrick Harris, Piper Sandler Organizations: Service, Facebook, Meta, Business, NFL, NBA, NBC, Entertainment, Media, Snap's, Acrew, Big Tech Locations: New York, Manhattan, Americas

☆ Interest rates staying where they are is a forgone conclusion, but the Fed's decision day still matters
▼ + stars: | 2024-05-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what another delay to interest rate cuts means for a market banking on them. The big storyThe waiting game continuesChip Somodevilla/Getty Images; BISpoiler alert: The Federal Reserve won't be lowering interest rates today. The official announcement won't come until this afternoon, but interest rates staying where they are is a forgone conclusion. The CME FedWatch Tool, which calculates the probability of the Fed's decision based on interest rate traders, has the odds of rates staying untouched at 97.5%.) Talk of cutting interest rates has been going on for the better part of a year.

Persons: —, it's, doesn't, We'll, Chip Somodevilla, Jerome Powell, Matt Rourke, Sarah Silbiger, Alyssa Powell, CME's, aren't, Powell, Erin Schaff, Paul Krugman, Donald Trump's, Krugman, Trump, Marko Kolanovic, Rebecca Zisser, Instagram, Changpeng Zhao, Binance, Amazon, Emma Tucker's, Steve Bannon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Stagecoach, Trump, Tech, Investors, Bloomberg, Getty, The New York Times, Hunterbrook, JPMorgan, Adobe, Wall Street Journal, Staff, eBay, Pfizer, Google Locations: stagflation, New York, London

☆ After Meta’s ‘year of efficiency,’ industry leaders root for year of innovation
▼ + stars: | 2024-05-01 | by ( Rachel Curry | ) www.cnbc.com time to read: +5 min

With many companies maintaining the "efficiency" mindset, and hiring for tech jobs remaining low, according to the iCIMS Insights April 2024 Workforce Report, innovation is at risk. Madan says companies tend to act based on fear of missing out, but this behavior can stall technological innovation. This process can be messy, which is why experts say any conversation centered around efficiency must also include innovation. Digital transformation is a core pillar of business strategy for 84% of technology and business leaders, according to the TEKsystems report. On the innovation front, he added, "The best organizations are the ones that synthesize human input with AI collaboration."

Persons: It's, Mark Zuckerberg, Ricardo Madan, they've, Zuckerberg, Madan, Chris Duffey, Duffey, Duffy Organizations: Meta, IBM, Tech, Adobe, Google, Bureau of Labor Statistics Locations: Menlo Park, Meta, California, TEKsystems, U.S

☆ Beware AI stocks trading at rich valuations. How to profit from a pullback using options
▼ + stars: | 2024-05-01 | by ( Tony Zhang | ) www.cnbc.com time to read: +2 min

While Palantir (PLTR) is not a direct parallel, it is an AI focused company that trades at a rich valuation. These types of valuations are at risk as we grapple with the notion of potentially even higher rates from the Federal Reserve. After gapping higher above $21, PLTR has failed to see any follow through on the initial momentum. Moreover, momentum has now turned negative and its testing the $21 level as support, alongside a series of lower lows and lower highs. Since PLTR barely turns a profit, using EV to sales is a better valuation metric, which trades at over 21x.

Persons: PLTR Organizations: Federal Reserve, EV

☆ 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

☆ The ex-Twitter director who went 'hardcore' for Elon Musk and slept on the floor of X's office is now working for his Meta nemesis, Mark Zuckerberg
▼ + stars: | 2024-04-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewA former top lieutenant at Elon Musk's Twitter says she's working for Mark Zuckerberg at Meta now. AdvertisementBesides lauding "the exceptional quality of the people" working at Meta, Crawford said she was attracted by Zuckerberg's "vision and intensity." Crawford's latest career move could be an indicator of big moves Zuckerberg may be making in his bid to vanquish Musk's X. "I do plan to keep using both X and Threads," she said in an email to BI on Monday. Representatives for Meta and X didn't immediately respond to requests for comment from BI sent outside regular business hours.

Persons: —, Mark Zuckerberg, I've, Esther Crawford, Crawford, he's, Zuckerberg, Elon Musk's, Elon, Musk's, hasn't, X didn't Organizations: Service, Elon, Twitter, Meta, Business, BI

☆ AI has yet to be truly transformational like the internet, CEO says
▼ + stars: | 2024-04-29 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

AI-powered solutions need to incorporate real-time data into their responses to be the most useful, he added. "My life has not been transformed by AI," MongoDB CEO Dev Ittycheria said in an interview with TechCrunch. AdvertisementAI services will have to incorporate "real-time data" to make them transformative to the average person, Ittycheria said. "I think that's where we will start seeing much more sophisticated apps, where you can embed real-time data along with all the reasoning." Bill Gates has compared AI to seismic tech advancements like the invention of the PC or the internet.

Persons: it's, Dev Ittycheria, —, Ittycheria, Bill Gates, Mark Zuckerberg Organizations: Service, TechCrunch

☆ From Wall Street to Silicon Valley, AI specialists are a hot commodity
▼ + stars: | 2024-04-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Today's big story examines how recruitment for AI talent is ramping up in the tech industry and on Wall Street . AdvertisementEager to understand how to leverage the tech, companies are racing to scoop up AI specialists. But Big Tech companies aren't just competing with each other. With so many venture capitalists eager to fund AI ideas , some AI talent are starting their own companies. Businesses are already fighting the rule, but if it survives the courts it could mean even more movement of AI talent.

Persons: —, We've, we've, Justin Sullivan, Chelsea Jia Feng, Eager, Kali Hays, Ellen Thomas, Banks, it's, Getty, Sean Gladwell, Olga Pyrkina, Tyler Le, Amy Hood, Mark Zuckerberg, Zuckerberg, Johannes Eisele, Swan, Mark Spitznagel, Spitznagel, David Einhorn, there's, Dimitrios Kambouris, Leon Neal, Abanti Chowdhury, Bill Gates, Gates, BI Gates, Satya Nadella, Zs, Herman Miller Eames, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Getty Images, Anadolu Agency, Big Tech, Johannes, Getty, Federal Reserve, Reuters, Research, Capital Economics, Greenlight, Staff, Microsoft, BI, Paramount Locations: California, AFP, America, New York, London, Chicago

☆ Citi says investors should focus on dividends, lists several buy-rated income stocks to buy
▼ + stars: | 2024-04-29 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Therefore, investors would be more incentivized to buy companies that have a strong record of dividend payments. The strategist expects more companies to add dividends payouts going forward, as firms begin to increasingly understand the appeal for investors. The stocks had to meet the following criteria: Buy-rated by Citi Research 3-year dividend per share with a compound annual growth rate above 5% Above median expected dividend growth Potential dividend per share upside Reasonable payout ratio Reasonable dividend yield One name on the list was Visa , which currently has a dividend yield of 0.7%, according to Citi Research. Semiconductor firm Lam Research also made the list, with a dividend yield of 0.9%. More than half of analysts covering the stock rate it a buy or strong buy and see a potential upside of nearly 6%.

Persons: Scott Chronert, Chronert, TD Cowen, Bryan Bergin, Riley, — CNBC's Michael Bloom Organizations: Federal Reserve, Citi, Fed, Citi Research's, Citi Research, Visa, LSEG, Mastercard, Semiconductor, Lam Research, Research Locations: Asia, Europe

☆ Meta's Oversight Board is reportedly planning to cut staff
▼ + stars: | 2024-04-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Read previewMeta's Oversight Board is preparing to make some job cuts, The Washington Post reported. Mark Zuckerberg announced the Oversight Board, which operates independently from Meta, in late 2018, and it began operating in October 2020. AdvertisementIn a statement sent to Business Insider, Stephen Neal, the Oversight Board Trust's chair, confirmed it was making "targeted cuts." AdvertisementA Meta representative told BI that the company "remains committed to the Oversight Board, which operates independently from the company, and continues to strongly support its work." Meta recently announced it would begin labeling a wider variety of content with its "Made with AI" label after an Oversight Board recommendation.

Persons: —, Mark Zuckerberg, Stephen Neal, Neal, Meta Organizations: Service, Washington Post, Facebook, Business, Meta, Financial Times, Big Tech

☆ I got offers from Microsoft, Meta, and Google. Here's why I chose Google.
▼ + stars: | 2024-04-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

A recent tech grad received offers from Google, Meta, and Microsoft. Meta initially offered $210,700 in total compensation, but Google offered other appealing benefits. Right as I was about to accept my offer from Meta, Google let me know that they found a match for me. I would have chosen Google either wayIf Google didn't increase its total compensation offer, I would've had a really tough decision to make. Before college and working in tech, Google was a name that stood out to me.

Persons: —, FANG, Meta, would've Organizations: Google, Microsoft, Meta, Service, Facebook, Netflix

☆ We have more insights as to where the economy is headed — and it's not good
▼ + stars: | 2024-04-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at how the latest GDP data has shifted the expectations of where the economy is headed. Now, the economy will need some type of event (see: bubble popping) for rate cuts to become an option anytime soon, Miskin said. Energy price shocks could bring the world economy to a "vulnerable moment," chief economist Indermit Gill warned.

Persons: —, TikTok, they're, you'd, Jia Feng, It'll, Insider's Madison Hoff, It's, Jerome Powell, Anna Moneymaker, BI's Filip De Mott, Jamie Dimon, Matt Miskin, Miskin, Mark Zuckerberg, C, Cox, Jenny Chang, Rodriguez, Goldman Sachs, Guess what's, Indermit Gill, Alphabet's, Redmond, Tyler Le, Doug McMillon, execs, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Reserve, stagflation, JPMorgan, Wall Street, John Hancock Investment Management, Galatioto Sports Partners, Bank, Google, Big Tech, Microsoft, Health, Linkedin, YouTube, ExxonMobil Locations: Chevron, New York, London

☆ CEOs make the message clear on AI's big payoff: Be patient
▼ + stars: | 2024-04-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

And the initial signs are quite positive here too," Zuckerberg told investors in an earnings call. AdvertisementElon Musk had even stronger words for investors on Tuesday after Tesla reported plunging profits. Even so, Musk insisted during an earnings call that Tesla is an AI company and had a specific message to any shareholder who thinks that Tesla won't develop self-driving someday. On Thursday, Microsoft and Alphabet reported profits, which they ascribed in part to their respective AI sectors. Google's parent company reported $23.7 billion in profits for the same period.

Persons: —, Apple, Demis Hassabis, Sam Altman, Mark Zuckerberg, Zuckerberg, we've, Elon Musk, Tesla, Musk, Matthew Prince, Sundar Pichai, Pichai Organizations: Service, Meta, OpenAI's, EV, Economic, Reuters, Nvidia, Microsoft Locations: Davos

☆ Microsoft and Alphabet just proved AI boom has room to run
▼ + stars: | 2024-04-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Microsoft and Alphabet reported quarterly earnings that beat Wall Street's expectations. On Thursday, just off the heels of Meta's mixed first-quarter results that caused a dip on Wall Street, Microsoft and Alphabet just proved that there's money to be made off of artificial intelligence. However, the executive also made sure to highlight the contributions of Google Cloud, which now comes with generative AI services through Google's AI model, Gemini. Investors appeared pleased with Microsoft's and Alphabet's quarterly performance, which gave the companies a stock surge, as Wall Street continues to nurse a hangover from Meta's first-quarter report. "They have a goldmine of AI engineers and data, and now they're starting to monetize it," Ives said of Alphabet and Microsoft.

Persons: Wedbush's Dan Ives, —, Meta's, Sundar Pichai, Mercedes, Pichai, Ruth Porat, Satya Nadella's, Nadella, Microsoft's, Dan Ives, Ives Organizations: Microsoft, CNBC, Service, Google, Bayer, Cintas, Mercedes Benz, Walmart

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe reinvention of Mark ZuckerbergOver the past year, Mark Zuckerberg has transformed Meta - and himself. He has gone from a brash young CEO to trained MMA fighter, and a trendsetter with his fur jackets and chains. But Meta's latest earnings report has shown it's continuing to bleed cash, and Zuckerberg is now facing a moment of truth. Can he deliver on generative AI, the most important platform shift in decades? This week on TechCheck, the reinvention of Zuck and the arrival of his "show me" moment.

Persons: Mark Zuckerberg, he's, Meta outperforming, Zuckerberg Organizations: Meta, Nvidia

☆ Nvidia jumps more than 15% this week. A key reason: what other companies are saying
▼ + stars: | 2024-04-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

"These are big checks made out to get Blackwells and H200s from, yes, Nvidia," Jim Cramer said during Friday's Morning Meeting . "There are a lot of people … that think this stock is a dangerous stock," Jim said. The next earnings report to shed light on demand for Nvidia's AI chips is set for Tuesday evening when Club name Amazon releases first-quarter results. While Amazon also has custom AI chips, it's a sizable Nvidia customer and the companies have enjoyed a longtime partnership. Even electric vehicle maker Tesla indicated earlier this week that it plans to buy tens of thousands more Nvidia chips this year to support self-driving car efforts.

Persons: Wall, Jim Cramer, Blackwell, OpenAI, There's, Jim, Wednesday's, – tanked, Alphabet's, FactSet, Ruth Porat, capex, Porat, Amy Hood, Hood, Microsoft's, Tesla, Jim Cramer's, Jensen Huang, Josh Edelson Organizations: Nvidia, Microsoft, Investors, Devices, Meta, Facebook, Bank of America, AMD, Broadcom, Wall, Google, Amazon, CNBC, SAP Center, AFP, Getty Locations: –, U.S, San Jose , California

☆ Meta's median pay for employees is $379,000 a year
▼ + stars: | 2024-04-26 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

The median employee at Meta earned over $379,000 in 2023, according to a recent filing. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . That's according to a recent SEC filing, where the company stated that its median employee made just over $379,000 in 2023. But within the world of Big Tech, Meta's median salary isn't as eye-popping as it might seem.

Persons: —, Mark Zuckerberg's, Zuckerberg Organizations: Meta, Google, Service, SEC, Big Tech, Industry

☆ Meta's AI is now in your Instagram and Facebook. Here's what it does — and whether you can turn it off
▼ + stars: | 2024-04-25 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Meta introduced its AI-powered chatbot Meta AI across its social media and messaging platforms. The prompt "ask Meta AI anything" shows up whenever you click on the search bar in Instagram and Facebook. But despite being available on the app, Meta AI isn't automatically connected to your social media accounts or personal information. Unlike other chatbots that you can use at your own will, you can't get rid of Meta AI. And on WhatsApp and Messenger, users can just ignore the Meta AI chats since they're not available in the search bar.

Persons: Meta, —, Mark Zuckerberg, Zuckerberg, Ana Altchek Organizations: Gemini, Service, Facebook, Apple, Meta Locations: Instagram

☆ Here's where Meta shares could go from here after their post-earnings sell-off, according to the charts
▼ + stars: | 2024-04-25 | by ( David Keller | ) www.cnbc.com time to read: +3 min

Since February, Meta Platforms has been trending slightly higher on weaker price momentum. Since early 2023, META has experienced a period of remarkably positive price momentum. META has been trending slightly higher since February, yet the RSI has been sloping downwards. Thursday's initial gap lower dropped META right into the middle of the price gap formed in early February. This would also mean a retest of the 200-day moving average, which META has not touched since February 2023.

Persons: We'll, — David Keller Organizations: RSI, CMT

☆ Meta shares plunge as Mark Zuckerberg's AI push spooks investors
▼ + stars: | 2024-04-25 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Meta shares plunged as much as 15% in premarket trading, dragging US futures lower. Investors weren't convinced by Mark Zuckerberg's plan to keep spending tens of billions on AI. AdvertisementMeta stock plunged in premarket trading on Thursday as investors fretted that Mark Zuckerberg's artificial intelligence push will send costs skyrocketing. The losses came after Meta reported its earnings for the first three months of the year on Wednesday. Zuckerberg's previous pledge to keep costs low during a "year of efficiency" has helped Meta's stock to rally since the start of 2023.

Persons: weren't, Mark Zuckerberg's, Meta, —, Refinitiv, Zuckerberg, Russ Mould, AJ Bell, Mark Zuckerberg Organizations: Service, Meta, Microsoft Locations: Wednesday's

☆ Alphabet's new dividend is helping reassure Meta-spooked tech investors
▼ + stars: | 2024-04-25 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Alphabet is joining its tech peers like Microsoft, Apple, and Meta in the dividend club. Its $0.20 dividend is its first ever, and it also authorized an additional $70 billion in buybacks. The news could ease concerns of some tech investors spooked by Meta's earnings Wednesday. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers.

Persons: —, It'll Organizations: Microsoft, Apple, Meta, Service, Business Locations: buybacks

☆ Meta tumbles 12% on weak revenue forecast and Zuckerberg's comments on spending
▼ + stars: | 2024-04-25 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Meta shares tumbled 12% Thursday morning after the company issued weak revenue guidance that overshadowed its first-quarter earnings beat. ET, wiping out roughly $161 billion in market cap from its $493.5 closing price before earnings on Wednesday. Meta expects second-quarter revenue of $36.5 billion to $39 billion. Barclays analysts maintained an overweight rating of Meta stock and lowered their price target to $520 from $550 in an investor note Wednesday. "If there is anything META has proven over the years, it's extremely good at executing during big platform shifts in tech, arguably the best," the Barclays analysts wrote.

Persons: Mark Zuckerberg, Bernstein, Zuckerberg, Michael Bloom Organizations: U.S . Capitol, Meta, JPMorgan, Barclays Locations: Washington , U.S

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