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Zuckerberg has avoided personal liability in 25 cases that accuse Meta of fuelling social media addiction. AdvertisementA judge has granted Meta CEO Mark Zuckerberg's motion to dismiss 25 cases that alleged he was personally responsible for Instagram and Facebook fuelling social media addiction. The cases filed sought to hold Zuckerberg personally responsible for keeping children hooked on Meta products. Meta is facing lawsuits by two tribal nations, who are accusing the company, along with Google, TikTok, and Snapchat of fostering social media addiction. They accuse social media companies of contributing to high suicide rates by purposefully getting kids hooked on the platforms.
Persons: Zuckerberg, , Mark Zuckerberg's, Yvonne Gonzalez Rogers's, Rogers Organizations: Meta, Service, Business, Google
Jonathan Haidt: Kids always had play-based childhoods, but we gradually let that fade away because of our growing fears of kidnapping and other threats in the 1980s and 1990s. If they have the phones, they will be texting during class, and they will be focused on their phones. If they don’t have phones, they will listen to their teachers and spend time with other kids. Most middle school kids are entirely enmeshed in smartphones and social media. Because kids are somewhat sex-segregated online (they interact less with kids of the opposite sex), the situation is unconducive to heterosexual dating and marriage.
Persons: Jonathan Haidt, , Haidt, Dave Cicirelli, Thomas Cooley, New York University’s Leonard N, Jayne Riew, You’ve, we’re, There’s, you’ve, they’re, We’re, they’ve, Matt Villano Organizations: CNN —, Penguin Press, American Psychological Association, New York, Stern School of Business, CNN, Jayne Riew CNN, YouTube, Getty, Meta Locations: United States, America, American, Northern California, whalehead.com
Snapchat's owner Snap is hiring in the US and pays five or six figures for many jobs. Business Insider analyzed public data to get a sense of how much Snap pays its employees in the US. Snap has offered salaries from about $45,000 to over $1.95 million for various roles. Related storyWith dozens of openings in the US, Business Insider updated its analysis of how much Snap pays employees in the country for certain jobs. According to the data, Snap offered certain US staffers between October 2021 and December 2023 annual salaries ranging from $45,282 to $1.95 million for various roles.
Persons: Organizations: Business, Service, US Department of Labor's, Foreign Labor
The Gen Z Crossword Era
  + stars: | 2024-04-13 | by ( Melissa Kirsch | ) www.nytimes.com   time to read: +1 min
My 20-year-old niece, Emma, texted the other day to tell me she’s addicted to The Times’s game Connections; she and her friends play every day, along with the Mini and Strands. “The people who make the games need to make more fun games,” she declared. I don’t mind her treating me as her personal on-demand suggestion box for The New York Times; she’s my personal on-demand focus group for Gen Z. She’s used to my asking her about Snapchat etiquette, or which athleisure brands are cool, or if it’s true that her generation is grossed out by feet. I’d read about how younger people are getting into puzzles, but this was the first time my Gen Z rep had volunteered a report from the field. I, too, love Connections, but my deepest and most abiding puzzle romance is with The Times’s crossword.
Persons: Emma, texted, , I’d Organizations: The New York Times
Now there are hundreds of such lawsuits against social media platforms, alleging teenagers across the country have been harmed from exposure to social media, according to Matthew Bergman, the founder of the Social Media Victims Law Center, from where many of these lawsuits have been filed. Jaime Puerta said he has met with police departments, government agencies and schools to discuss the dangers of social media platforms. Mayor Eric Adams makes announcement on lawsuit against social media companies at City Hall in New York City. Next, she said she wants to work with lawmakers to help increase the age requirement to access social media sites. Donna and Chris Dawley have attended conferences, events and Congressional hearings to raise awareness about social media addiction.
Persons: Jaime Puerta’s, Daniel, Puerta, Snapchat, Matthew Bergman, Koukichi Takahashi, TikTok, ” Puerta, , , Jaime Puerta, Meta, Gail Flatt, Sarah’s, Sarah, Flatt, Republican Sen, Marsha Blackburn, Sen . Blackburn, Blackburn, Mark Zuckerberg, who’ve, “ I’m, Norma Nazario, Zackery, Eric Adams, Nazario, Lev Radin, Ron DeSantis, Jaime Puerta – Amy Neville, Alexander, , she’s, Neville, ” Amy Neville, Alexander Neville, Amy Neville, Democratic Sen, Amy Klobuchar, Sen, Klobuchar, Sabine Polak, Polak, Mileva, ” Polak, Repasky, it’s, Cece Nelter, Independence , Kentucky –, Instagram, Cece, Nelter, Donna, Chris Dawley –, CJ, ” Donna Dawley, Prince Harry, Meghan Markle, Chris Dawley, Donna Dawley “, Donna Dawley, “ We’ve Organizations: CNN, International Association for Suicide Prevention, Befrienders, Social Media, Law, Meta, Adobe, Big Tech, Los Angeles, Central Intelligence Agency, CIA, Homeland Security, Centers for Disease Control, Prevention, Drug, Administration, Federal, Facebook, Wall, Northern District of, Republican, Union, New York City, New York, City Hall, Pacific Press, TikTok, Florida Republican, Snapchat, Alexander Neville Foundation, Alexander, Parent, Academy, Democratic, Media, Free Schools Movement Locations: Northern District, Northern District of California, Instagram, Tennessee, Biden’s, New York, New, New York City, Florida, United States, Minnesota, Phoenixville , Pennsylvania, , Independence , Kentucky
Despite laying off full-time staff earlier this year, Snap has open roles in areas including engineering, sales, and marketing. On April 12, Snap had globally listed 142 open positions on its jobs board, including 88 openings in US cities. Related storiesMany of Snap's applications included annual salary ranges rather than a single salary for a given role. For example, Snap included a pay rate of $97,760 and $140,000 a year for one software engineer position. In cases where Snap submitted multiple applications for a particular job, such as a level III software engineer, we included the lowest and highest salary for the role as well as the median range.
Persons: Dan Whateley Organizations: Stars, Advertising Research Center, Business, US, of Foreign Labor, Department of Labor, Inc, Santa, Research, Data, Analytics, CRM Technology, Finance Technology, IT Corp Services, Learning, Partner, Engineering, Security Engineering, Software, Software Engineering, Oracle Systems, Assurance, iOS, Wireless Network, Global, Lens, Advisory Partners, Corporate, Corporate Finance, Strategic Locations: Santa Monica, Seattle, View, Palo Alto , New York, San Francisco
Read previewTwo tribes are suing social media giants, accusing them of contributing to the high suicide rates among Native teenagers by purposely getting kids hooked on their platforms. The lawsuits name Facebook, Instagram, Snapchat, TikTok, YouTube, and their parent companies, including Meta and Google as defendants. In collaboration with youth, mental health, and parenting experts, we built services and policies to provide young people with age-appropriate experiences and parents with robust controls. Other lawsuits have been brought over social media addiction, including by dozens of state attorneys general who sued Meta last year. However, these are the first lawsuits over social media addiction brought by federally recognized tribes, according to Robins Kaplan, the firm that filed the suits.
Persons: , Lonna Jackson, Gena Kakkak, José Castaneda, Snapchat, Robins Kaplan, Tim Purdon, Meta Organizations: Service, Superior Court, Facebook, YouTube, Meta, Google, Business, Street, Spirit, Center for Native American, Tribal Nations, American Indian Law, Policy, New, Inc, Associated Press Locations: Los Angeles, Lake, North Dakota, Menominee, Wisconsin, Country, Spirit Lake, New York City
AdvertisementMeta took issue with several parts of Economides' testimony, which remains under seal and had many specific references redacted from Meta's filing. In his testimony, Economides valued individual Facebook user data at least $5 a month per user, according to Meta's summation of it. In the present day, that would mean Meta paying out tens of billions each month for user data, as Zuckerberg said in fourth-quarter earnings that over 3.1 billion people use at least one Meta app each day. Meta disagreed and told the court that Economides' testimony was effectively "junk science" with "no real-world support" and should be thrown out. "No firm like Meta, in any market, has paid all its users as a competitive response—ever," lawyers for Meta wrote.
Persons: Meta, Mark Zuckerberg, Javier Olivan, Guy Rosen, Nicholas Economides, Economides, Zuckerberg, Kali Hays Organizations: Service, Facebook, Meta, Business, New York University, Google Locations: khays@businessinsider.com
Piper Sandler has released the spring edition of its semiannual "Taking Stock With Teens Survey," with solid results for several names in our portfolio. They added, that in their view, the Starbucks brand remains a "relevant social currency among teens." But they noted that Nike is now "starting to see weakness in overall brand mindshare." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Piper Sandler, it's, Estee Lauder, Locker —, Instagram, TikTok, China's ByteDance, Dunkin, Locker, Foot, Jim Cramer's, Jim Cramer, Jim, Avishek Das Organizations: Teens Survey, Apple, Facebook, Apple Watch, Starbucks, MAC, Sporting Goods, Nike, Piper, CNBC, Getty Locations: Piper's, Israel, Asia
Snapchat is changing a friend-ranking feature over reports of it causing teen anxiety. The premium feature allowed users to see their position in their friends' so-called Solar System. 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 . The so-called Solar System feature, which is available to Snapchat+ users, shows where you rank in a particular friend's "orbit," based on how often you communicate.
Persons: Organizations: Service, Business
AdvertisementHaving a flip phone removed the impulse to do things on my phone without thinkingThe flip phone I got was clunky and slow. I had to get a smartphone again for workI stopped using the flip phone after nine months. AdvertisementI also felt that having a flip phone hindered me from meeting people and being easy to communicate with. If I were getting to a point where I felt I was using my phone too much, I'd know I could go back to using a flip phone. AdvertisementBefore having a flip phone, I would spend five hours or more a day on my smartphone, but now I think it's more like one or two.
Persons: , Ella Jones, Jones, she'd, StudentCrowd, I've, I'd, you'll, I'm Organizations: Service, Samsung Galaxy Young, YouTube, Business, Google, Nokia, Facebook Locations: Belfast, Northern Ireland
"Game of Thrones" star Joseph Gatt is suing the city of Los Angeles for $40 million. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Advertisement"Game of Thrones" star Joseph Gatt is suing the City of Los Angeles, the Los Angeles Police Department, and District Attorney George Gascón for $40 million after the actor was falsely accused of being a pedophile in 2022. Gatt is suing the city for $40 million claiming that the false charges damaged his career. AdvertisementThe City of Los Angeles, the Los Angeles Police Department, and District Attorney George Gascón did not immediately respond to a request for comment.
Persons: Joseph Gatt, , George Gascón, Jane Doe, Doe's, Defendants, Jane Doe's Organizations: Service, Los Angeles Police Department, LAPD, Business, Los Angeles Locations: Los Angeles
Analysts at the World Advertising Research Center forecast Snap's ad revenue will grow by 13.7% to $5.2 billion this year, up from a 0.1% increase in 2023. The biggest year-over-year growth is set to come from political and advocacy advertisers in the US, ahead of the November presidential election, WARC said. Beyond the political ad boost, Snap's expected return to double-digit revenue growth will be driven by the platform leaning on artificial intelligence for ad optimization, an improved content experience, and user growth, according to WARC. To be sure, with US political ad spend forecast to exceed $12 billion in 2024, according to Emarketer, Snap will be a drop in the ocean for most political advertisers. Traditional media still takes the lion's share of political ad dollars.
Persons: WARC, Snap's, Biden, Alexandria Ocasio, Alex Brownsell, Brownsell, That's, Liz Bennett, Bennett, Danielle Butterfield, Butterfield, TikTok doesn't, It's, Seat's Bennett, Jason Poinsette, Evan Spiegel Organizations: Advertising Research, Business, Republican National Committee, Google, ESPN, Meta, USA Locations: Alexandria, Texas, Los Angeles
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBradley Tusk explains how Snapchat's new friend-ranking feature impacts teen anxietyBradley Tusk, Tusk Ventures CEO, joins 'Squawk Box' to discuss Snapchat's new friend-ranking feature, the impact on teen anxiety, whether social media companies can be regulated, and more.
Persons: Bradley Tusk Organizations: Tusk Ventures
"In fact, we now estimate that in 2024 Meta's ad business could outgrow Amazon's for the first time since 2015," the firm added. META 1Y mountain Shares of Meta Platforms over the past 12 months. Jefferies' bullish outlook goes straight to the heart of our investment case, which Jim Cramer reiterated last week during the March Monthly Meeting. All of this also jives with our view on Meta, as Jim laid out during the Monthly Meeting. Put it all together, and we're aligned with Jefferies on where Meta's stock can go from here.
Persons: Jefferies, outgrow Amazon's, Jim Cramer, that's, Jim, Meta, , TikTok, Mark Zuckerberg, there's, Zuckerberg, Jim Cramer's, David Paul Morris Organizations: Google, Meta, Facebook, Jefferies, CNBC, Bloomberg, Getty Locations: U.S, Menlo Park , California
Cramer's Lightning Round: Palo Alto Networks is a buy
  + stars: | 2024-04-04 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon GitLab's year-to-date stock performance. Stock Chart Icon Stock chart icon Snap's year-to-date stock performance. Stock Chart Icon Stock chart icon Blackstone's year-to-date stock performance. Stock Chart Icon Stock chart icon Rocket Companies' year-to-date stock performance. Stock Chart Icon Stock chart icon Palo Alto Networks' year-to-date stock performance.
Persons: Snapchat, Blackstone, I'm, Jim Cramer's Organizations: Companies, Rocket, Palo Alto Networks
An analytics app Meta acquired a decade ago turned into a major source of inspiration for product and business decisions, including its work to "clone" Snapchat. Rosen is Meta's chief information security officer, while Tiger was vice president of engineering until he left Meta in 2022. For several years, Onavo was key to how Meta decided to acquire, launch, and change its products, according to over a dozen court documents unsealed last week in an ongoing lawsuit. After the acquisition, Facebook found through Onavo's data on messaging apps that Snapchat was a top five mobile app and WhatsApp had begun to outpace Facebook Messenger. The company was hailed for its tech that compressed data on mobile phones, allowing apps to run in the background without eating up user data.
Persons: Guy Rosen, Roi Tiger, Rosen, Tiger, Onavo, Meta, Mark Zuckerberg, Sheryl Sandberg, Mike Schroepfer, Chris Cox, Javier Olivan, Sandberg, Olivan, Cox, Facebook's, Colin Stretch, WhatsApp, Zuckerberg, Instagram, Snapchat, Stretch, Kali Hays Organizations: Meta, Facebook, Business, Onavo, YouTube, Olivan, TechCrunch Locations: Onavo, Davos, khays@insider.com
Ron DeSantis has opted to take a different route: He's maintained his public profile by signing bill after bill focused on security. In his video announcing the end of his campaign, DeSantis foreshadowed his future goals during the remainder of his tenure as Florida's leader, which, barring a debacle, should last until January 2027. "While this campaign has ended, the mission continues down here in Florida," DeSantis said. Related storiesIn the two months since he's returned to Florida full-time, DeSantis has been busy, signing several bills and orders, each marked with a common theme: safety and security. "Under Governor Ron DeSantis, Florida will act."
Persons: , Ron DeSantis, He's, DeSantis, he's Organizations: Service, Republican Florida Gov, Business, National Guard, Republican, Florida Legislature, Disney Locations: Florida, Haiti
But being the parent of a girl in the age of social media is scary — even when you try to do everything right. When social media entered the picture, my daughter and I had conversations about safetyWhen my daughter told me she wanted to join Snapchat, she had good reasons. He was no longer in high school and was trying to meet underage girls. AdvertisementI decided not to limit her social media usageEven when you and your daughter do your best to use social media wisely and with caution, it's incredibly difficult to navigate safely. Whether parents like it or not, social media has become an important way of communication in this day and age.
Persons: Weeks, unfriended Organizations: Snapchat
Hannah Bullerman rarely used food delivery services but ordered GrubHub when she was sick one day. She went to the lobby to pick up her lunch and was instantly attracted to the Grubhub driver. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A few hours later, I didn't want to make lunch because I wasn't feeling well. I rarely used food delivery services but ordered chicken wings and fried pickles because I had a Grubhub coupon on my phone.
Persons: Hannah Bullerman, , Hoffman, Alec Hoffman, Alec, Grubhub, Bullerman, We're, we'd Organizations: Service, Business
New York CNN —YouTube says hundreds of thousands of creators are now earning a paycheck from posting short-form videos on the platform, as it ramps up its race to compete with rivals like TikTok and Instagram. It hasn’t been cheap: the Google-owned platform is shelling out tens of thousands of dollars to some of its top Shorts creators — like beauty influencer Sydney Morgan — every month. YouTube says the fresh data to its ability to incentivize existing creators to try out a new format — and to attract new users. “I make more from just YouTube Shorts (revenue) sharing in a month than I can make on other comparable platforms in a year,” she said. YouTube declined to share data around the total amounts it’s paid to creators for Shorts in the year since it added the feature to the YouTube Partner Program.
Persons: Sydney Morgan —, ” Amjad Hanif, Tara Walpert Levy, Meta, ” Hanif, “ You’re, “ It’s, , “ We’ve, ” Walpert Levy, , , Morgan, YouTubers, ” Morgan, Reddit, aren’t, Destin Sandlin, CNN he’s, ” Sandlin, Sandlin, Hanif, he’s, you’ve Organizations: New, New York CNN, YouTube, Google, Shorts, CNN, Facebook, Kodak, NASA Locations: New York, Instagram, United States
A Meta lawsuit revealed 2016 emails Mark Zuckerberg sent to his employees. 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 . AdvertisementAccording to newly unsealed emails in a lawsuit against Meta, Mark Zuckerberg directed Facebook employees to track encrypted user analytics from Snapchat, a competitor. No niceties," Dr. Ronald Riggio, a professor of leadership and organizational psychology at Claremont McKenna College, told Business Insider.
Persons: Mark Zuckerberg, , Zuckerberg, Dr, Ronald Riggio, Annie Wright, Wright, curt, Riggio, Zuckerberg's Organizations: Service, Meta, Claremont McKenna College, Boeing
Newly unsealed emails reveal that when Meta was still called Facebook, CEO Mark Zuckerberg ordered his executives to find a way to learn how people were using competing apps like Snapchat, even if the information was encrypted. Advertisement"Given how quickly they're growing, it seems important to figure out a new way to get reliable analytics about them," Zuckerberg wrote of Snapchat in the email. The app "doesn't (can't) decrypt data," a Facebook employee noted in an email to Zuckerberg included in a court document. While the existence of Onavo's work to track rival app usage has been reported, details of Meta's actions, the executives involved, and the surrounding communications were unreported. AdvertisementAdvertisers suing Meta said the company failed for years to disclose its use of Onavo technology to intercept rivals' analytics traffic.
Persons: Meta, Mark Zuckerberg, Zuckerberg, Javier Olivan, Snapchat, Olivan, Guy Rosen, Rosen, , Mike Schroepfer, Kali Hays Organizations: Service, Facebook, Business, Meta, Wall Street, YouTube, SSL, TechCrunch Locations: California, Onavo, khays@insider.com
Ron DeSantis has barred kids under 14 from using social media platforms. He signed a bill on Monday that also blocks 14- and 15-year-olds from owning accounts unless their parents consent. Most platforms already bar kids under 13 from owning accounts, though this is loosely enforced. Ron DeSantis signed a bill on Monday prohibiting Florida residents under the age of 14 from owning a social media account, while also introducing restrictions for 14- and 15-year-olds. The law's text compels social media companies to flag and delete accounts owned by Florida residents who are deemed "likely younger than 14 years of age."
Persons: Ron DeSantis, , DeSantis Organizations: Florida Gov, Service, Business Locations: Florida
"I'm worried about AI stunting creativity, replacing the need to use our brains," said travel creator Jessica Morrobel, who has about 168,000 followers on TikTok and Instagram. Lifestyle creator Joseph Arujo said he primarily uses ChatGPT to format his emails, since he gets a lot of brand partnership requests. AdvertisementCherie Luo, who publishes educational content, said she uses AI to transcribe and summarize her podcast episodes. And UGC creator Salha Aziz said she uses AI for a variety of tasks, including writing scripts for her videos. "It is concerning how good it's getting," said Tales, who has 2.7 million followers on TikTok and Instagram.
Persons: , Snapchat, I'm, Jessica Morrobel, Noah Jennings, Marina Mogilko, YouTuber who's, Cassey Ho, Joseph Arujo, Cherie Luo, Salha Aziz, Sora, Tyler Perry, he'd, Martin Haerlin, Tristan, Alex Piper, Haerlin, Kahlil Greene, we'll, Nneya Richards, she'd, Richards Organizations: Service, SXSW, Business, Adobe, YouTube, Ferrari, Night Studios, it's Locations: Texas, TikTok
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