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☆ I met my best friend of 16 years for the first time at her wedding. It felt like a reunion with an old friend.
▼ + stars: | 2024-06-22 | by ( Demi Drew | ) www.businessinsider.com time to read: +5 min

I met Miranda 16 years ago on a social networking website called Bebo; before Instagram and Tiktok, this is where many teens spent their time online. I lived in the Eastern Cape of South Africa, and Miranda lived in Virginia, US. We grew together, even thousands of miles apartI was 13 years old, and Miranda was 12 years old, and we were at the crux of growing up. AdvertisementMeeting Miranda for the first time felt like reuniting with an old friend. We talked like we had physically been in each other's lives for 16 years, not separated by thousands of miles.

Persons: —, Miranda, Demi, Booth, I've, I'd Organizations: Service, Business Locations: Eastern, South Africa, Virginia, United States, New York

☆ A millennial who went to college in his 30s when his career stalled says his Bachelor's degree is 'worthless' and that he's been looking for a job for 3 years
▼ + stars: | 2024-05-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A millennial quit his job in 2015 to pursue a college degree because his career growth had stalled. AdvertisementIn 2015, at age 34, Dan Colflesh decided to quit his job in the customer service industry and pursue a college degree. AdvertisementColflesh said he's been looking for work over the last few years and applied to more than 100 jobs. Colflesh has a few other theories for why his job search has been difficult. AdvertisementAre you a man who's not looking for work or has struggled to find a job?

Persons: he's, who've, —, Dan Colflesh, hasn't, Colflesh, it's, couldn't, He's Organizations: Service, University of Massachusetts, Bureau of Labor Statistics Locations: Massachusetts, University of Massachusetts Amherst, Appalachian

☆ DJT shares plummet more than 10% as hot streak for Trump Media stalls
▼ + stars: | 2024-05-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Trump Media shares dropped sharply in morning trading Wednesday, shortly after rising above the $50 per share threshold for the first time in nearly a month. Trump Media, which trades under the DJT ticker, rose by more than 8% in early trading, before dropping by more than 10%. The company, which owns the Truth Social app, has seen its share price increase by more than 50% in the past week. Trump Media in a regulatory disclosure Tuesday confirmed that former President Donald Trump received an extra 36 million shares of the company in a so-called earnout bonus. Trump''s stake in Trump Media now stands at 65% of the company's shares, and is worth $5.7 billion at a share price of $50.

Persons: Donald Trump, Trump Organizations: Trump Media

☆ Banning TikTok would hit China’s tech ambitions and deepen the global digital divide
▼ + stars: | 2024-04-24 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Not only would that deal another huge blow to China’s tech ambitions, it would further deepen the divide between two digital worlds centered around the rival economic superpowers. Congress on Tuesday approved legislation that could compel ByteDance to sell TikTok or face a national ban. That leaves few options for ByteDance to secure the future of TikTok in the US, its biggest market with 170 million users. “This includes everything from who owns and operates data centers, to space-based internet satellites, to undersea cables and, of course semiconductors.”In that sense, the TikTok ban has its silver lining for Beijing. Growing challenges for Chinese appsThe TikTok legislation was included in a wide-ranging foreign aid package meant to support Israel, Ukraine and Taiwan.

Persons: Hong Kong CNN —, ByteDance, Joe Biden, TikTok, “, ”, Alex Capri, Richard Windsor, Capri, Biden, Paul Triolo, ” Triolo, Wang Wenbin, CNN’s Marc Stewart, Triolo doesn’t, — CNN’s Wayne Chang, Marc Stewart Organizations: Hong Kong CNN, Foundation, National University of Singapore’s Business, YouTube, Google, Radio Free Mobile, TikTok, Technology, Albright, Commerce Department, Commerce, China’s, Foreign Ministry, Facebook, Apple Locations: China, Hong Kong, America, Beijing, Capri, “, Asia, Israel, Ukraine, Taiwan, Silicon Valley, American, Bytedance, “ Beijing

☆ Meta Platforms gets billions from China without headaches many U.S. companies face there
▼ + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

As many American companies struggle to navigate the world's second-largest economy, Meta Platforms has found itself raking in billions of dollars from China without the direct challenges of doing business there. The influx in spending from Chinese ecommerce advertisers has been a "significant positive" for Meta, said Rohit Kulkarni, analyst at Roth MKM covering internet companies. Many American companies doing business in China have battled similar challenges as the post-Covid recovery there has progressed slower than expected. Meta has said it has a "diverse advertiser base" of Chinese companies. The concern is that as more Chinese advertisers target American consumers through Meta's platforms, that could drive up the price of ads for everyone.

Persons: Temu, Rohit Kulkarni, Roth, Meta's, Piper Sandler, Tom Champion, Estee Lauder, Meta, Susan Li, Shein, Kate Scott, Dawkins, —, Roth's Kulkarni, Piper Sandler's, they're, Josh Silverman, we're, Piper, doesn't, Jim Cramer's, Jim Cramer, Jim, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Club, Super, U.S, Meta, Apple, Facebook, Tencent, Holdings, Nasdaq, CNBC, Wall Street, Google, European Commission, AFP, Getty Locations: China, Ireland, Shanghai, Singapore, U.S, Meta, Brussels

☆ Trump Media payday: What Truth Social executives got paid in stock and compensation
▼ + stars: | 2024-04-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +12 min

Those thresholds for the share price are well below where Trump Media stock was trading on Monday, when it closed at $37.17, down more than 8%. The filing disclosed that Trump Media awarded company stock to Nunes, chief financial officer Phillip Juhan, and chief operating officer Andrew Northwall. The three top executives, like Trump himself, are currently barred from selling any of their common stock in Trump Media for the next six months. CNBC asked a spokeswoman for Trump Media why promissory notes were used to grant stock to the executives. Legal battlesBesides Trump, the biggest shareholders in Trump Media are two corporate entities.

Persons: Dado Ruvic, Donald Trump, Devin Nunes, Trump, Kevin Murphy, Murphy, Nunes, Phillip Juhan, Andrew Northwall, Juhan, Northwall, DWAC, we've, Tom Williams, Kash Patel, Patel, Dan Scavino, Scavino, Department of Defense Kash Patel, Justin Sullivan, Sandro De Moraes, Vladimir Novachki, Scott Glabe, Novachki, Glabe, De Moraes, Eric Swider, beneficially, Renatus, Swider, Andy Litinsky, Wes Moss, Moss, Patrick Orlando, Mike Pont Organizations: Trump Media, Trump . Trump Media, Nasdaq, Corp, Trump, University of Southern, Securities and Exchange Commission, DWAC, SEC, CNBC, Partners, Northwall, Juhan, Trump Media's, U.S, Capitol, CQ, Inc, Getty, Equity, Messrs, Republican, Hudson Digital, Trump White House, Staff, Department of Defense, Digital, Renatus, ARC Global, United Atlantic Ventures, Twitter, Facebook, NBC, FilmMagic Locations: Juhan, California, Minden, Minden , Nevada, Orlando, New York City

☆ How the businessman who blew up MoviePass tried to create a 'TikTok killer' and cost investors millions
▼ + stars: | 2024-04-01 | by ( Ashley Rodriguez | Jason Guerrasio | ) www.businessinsider.com time to read: +22 min

At Vinco, Farnsworth employed several of the same tactics that he had at MoviePass and at his earlier ventures. "Ted took these press releases and really treated them like they were works of art for him," Matt Argall, a former advisor to Farnsworth, told BI. Hudson Bay has not been served the lawsuit as of the publication of this story. "Hudson Bay's investment in Vinco Ventures was a standard, fixed price convertible loan of which millions remain unpaid," Hudson Bay told BI in a statement. "If served, Hudson Bay will seek to have these baseless, factually flawed and frivolous claims, which have been repeatedly dismissed in other proceedings against other parties, dismissed expeditiously."

Persons: MoviePass, Ted Farnsworth, Maria Bartiromo, he'd, Farnsworth, Jaeson Ma, Ted Farnsworth playbook, Ted, Barnum, John Fichthorn, I've, Shadwrick Vick, Rudy, Vick, Roderick Vanderbilt, who's, hocking, La Toya Jackson, Helios, Matheson, Brian Quinn, Farnsworth's, Michael Hartstein, Vinco, Matt Argall, Mitch Lowe, Reuters Farnsworth, David, Goliath, TikTok, We're, Argall, Elton John, Jamie McCarthy, Lomotif, Lil Nas X, Snoop Dogg, Grimes, Zash, Allan Stern, Get2it, Stern, Robert N, Scola Jr, Scola, he's, —, Lowe, Getty, Dave Kotinsky, Stringer Vinco, expeditiously, Farnsworth —, Vanderbilt, Jesse Law, Katherine Long Organizations: Fox Business, Hollywood, Business, Zash Global Media, Entertainment, Vinco Ventures, Fox, Hudson Bay, BI, Helios, Matheson, Matheson Analytics, Boston College Law School, Palladium Capital Group, Vinco, BHP Capital, Armistice, CVI Investments, National Enquirer, Reuters, AMC Theatres, AMC, Gemini Valuation, Hudson, Eightco Holdings, Elton John AIDS Foundation, 91st, EDC, Tampa Marriott, SEC, Publishing, National Examiner, Globe, The New York Times, Southern, Southern District of, Bloomberg, Bay, Vanderbilt, Federal Bureau of Investigation Locations: Hudson, Vinco, Zash, Hudson Bay, China, Syracuse , New York, Lomotif, Syracuse, West Hollywood , California, Vegas, Tampa, Argall, Boston, India, The, Miami, MoviePass, Southern District, Southern District of Florida, New York

☆ OnlyFans creators make money selling intimacy to their subscribers. But in a lonely and hostile world, the relationships can start to feel real.
▼ + stars: | 2024-03-06 | by ( Marta Biino | ) www.businessinsider.com time to read: +13 min

OnlyFans creators who spoke with BI said that losing friends and even family members was something adult-content creators often had to come to terms with. AdvertisementEven beyond adult content, creators face an intrinsic element of loneliness. Like other influencers and freelancers, OnlyFans creators often shoot, edit, and post their content alone at home. AdvertisementLike with other types of sex work, navigating OnlyFans can be difficult in a traditional monogamous relationship. Courtesy of LiensueThe money is what makes OnlyFans 'just so worth it'Many creators said money was the key factor that kept them on OnlyFans despite the stigma.

Persons: —, Rae Richmond, she'd, Richmond, Pani Farvid, Keily Blair, Kaitlyn Siragusa, You'd, she's, Elaina St James, I've, St James, Isla Moon, Cherie DeVille, Elaina, James, Amber, doesn't, Farvid, Sweetheart, Marie Lippmann, Liensue, I'm, Emme Witt, OnlyFans, That's, Witt, Siragusa Organizations: Service, The New School, Workers, BI, OnlyFans, California State University, Chico Locations: Richmond, New York, OnlyFans

☆ Facebook is getting rid of the News tab in the U.S. and Australia
▼ + stars: | 2024-03-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Meta said Thursday that it would remove a dedicated section for news articles in April that will affect Facebook users in the United States and Australia. "The number of people using Facebook News in Australia and the U.S. has dropped by over 80% last year." Meta's decision to remove the Facebook News tab comes after the company said in September that it would eliminate the news section for Facebook users in the U.K., France and Germany. However, Meta said that it "will not enter into new commercial deals for traditional news content in these countries and will not offer new Facebook products specifically for news publishers in the future." A year ago, Facebook represented about 50% the media outlets' social traffic.

Persons: Meta's Mark Zuckerberg, Zuckerberg, Jay Y, Lee, Meta, it's, Chartbeat, Similarweb, Mother Jones, Monika Bauerlein, Bauerlein, Sam Altman Organizations: Meta, Samsung Electronics, South Korean, Seoul Economic, Facebook, U.S, CNBC, Canadian, Nvidia Locations: South Korea, Seoul, United States, Australia, France, Germany

☆ Meta's plan to stop AI from ruining elections is about to get its first big test
▼ + stars: | 2024-02-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

The company is adding labels to AI content and new ad restrictions to improve transparency. Now, the EU Parliament elections will put the social networking platform to the test. Meta released a statement on Sunday outlining a new plan to ensure election integrity with the EU Parliament elections taking place June 6 through 9. It also signed the Tech Accord, which aims to prevent deceptive AI content on major platforms in the 2024 elections. While all posts are subject to the same policy guidelines, Meta is taking extra steps to monitor AI content, according to the statement.

Persons: —, it's, Meta, Marco Pancini, Pancini, Joe Biden, Rishi Sunak Organizations: Meta, Service, Facebook, Tech Accord, UK Locations: EU

☆ Amid mass layoffs, it's best to take a new approach to job searches, expert says
▼ + stars: | 2024-02-26 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Westend61 | Westend61 | Getty ImagesAs thousands of layoffs make headlines, experts say there is a silver lining — a resilient job market. But to find your next position faster as companies cut costs, you may have to take a new approach. Job search tools can help amplify your search, according to Scott Dobroski, career trends expert at Indeed. By updating your profile on job search sites with your skills, experience and the positions you are seeking, you may find roles you would not have otherwise considered. Bring your authentic selfHaving the right social networking skills can make a big difference in finding work faster, according to Lee.

Persons: Gray, Holly Lee, Lee, Scott Dobroski, We've, Dobroski, Vicki Salemi, Salemi Organizations: Westend61, Getty, Challenger, Citigroup, Google, Amazon, Finance

☆ Why can’t we stop calling X, Twitter?
▼ + stars: | 2024-02-23 | by ( Saira Mueller | ) edition.cnn.com time to read: +10 min

While some people (mainly fans of Musk) have embraced the X brand, most have not. Many people, both online and in person, still call the platform Twitter, and refer to posts as tweets. WHY ARE WE STILL CALLING THIS PLATFORM TWITTER. Even when you do see X, it's framed as "X, formerly Twitter". So the brand is what they say it is… it’s not that customers can’t stop calling it Twitter, it’s that they won’t.”

Persons: it’s, adieu, Elon Musk, — Jack Scalfani, ”, — Sherrye Pomeroy, Linda Yaccarino, It’s, ” Ramon Jimenez, Wolff Olins, “, ” Marty Neumeier, —, Musk, ’, Zoë Schiffer, Schiffer, Josh Adelson, X, x.com, ” Musk, wasn’t, Neumeier, “ It’s, ’ ” Elon Musk, Alain Jocard, James Withey, Kirill Kudryavtsev, Withey, — Sandy Horne Organizations: CNN, Twitter, Premium, Twitter Twitter, Global, Merriam, Webster, Oxford English, Liquid Agency, Elon, Musk, Twitter Inc, X Corp, Getty, The New York Times, Apple, Adobe, Google, Strategy, Innovation, Nissan, Datsun Locations: @sherrye_pomeroy, San Francisco, Paris, AFP, Frankfurt, Germany, @SandyHorne61

☆ Sam Altman secretly owned way more Reddit stock than we thought
▼ + stars: | 2024-02-22 | by ( Grace Eliza Goodwin | Lauren Steussy | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWe learned a new detail about Sam Altman Thursday: just how much he supports Reddit. The filing revealed that Altman, the CEO of OpenAI, owns an 8.7% stake in the company. Reddit is the first social media company to submit an initial public offering since Pinterest in 2019, and it's the first major tech company to file for an IPO in 2024. The concept of working this closely with AI companies hasn't gone over great with some Reddit users, who have criticized the idea of profiting off users' data without their consent.

Persons: —, Sam Altman, Altman, Newhouse, Tencent, Reddit, Reddit doesn't, Steve Huffman, hasn't Organizations: Service, Securities and Exchange Commission, Business, Altman, Advance, Hollywood, Bloomberg, Google, OpenAI, SEC Locations: Reddit

☆ Reddit files to list IPO on NYSE under the ticker RDDT
▼ + stars: | 2024-02-22 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +6 min

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol "RDDT." The social networking company's core business is reliant on online advertising sales stemming from its website and mobile app. Reddit said the current addressable advertising market is $1.0 trillion, sans China and Russia. Reddit said that its non-employed moderators, known as Redditors, can participate in the company's IPO offering through its "directed share program."

Persons: Reddit, Pinterest, Alexis Ohanian, Steve Huffman, It's, DAUq, Condé Nast Organizations: Securities and Exchange Commission, New York Stock Exchange, P Global Market Intelligence, Google, eBay, . Publishing, Condé Locations: U.S, Reddit's U.S, China, Russia, Ukraine

☆ Nvidia's Data Center business is booming, up more than 400% since last year to $18.4 billion in fourth-quarter sales
▼ + stars: | 2024-02-21 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Nvidia's Data Center business just logged $18.4 billion in fourth-quarter sales, underscoring how the computer chip giant continues to benefit from the current boom in artificial intelligence. Analysts were expecting Nvidia's data center unit to record $17.06 billion in sales for its fiscal fourth quarter. Investors are closely watching Nvidia's Data Center business, which includes the company's H100 graphics cards that are widely used to power generative AI apps such as OpenAI's ChatGPT. Nvidia's data center unit has blossomed, particularly over the past three quarters. Fiscal Q3 2023 – data center revenue was $3.83 billion, up 31% from the year prior.

Persons: OpenAI, Mark Zuckerberg Organizations: Data Center, Meta Locations: Nvidia's

☆ 'Social' media is both the cause of — and solution to — our loneliness problem
▼ + stars: | 2024-02-17 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +11 min

The report listed technology as a driver behind our isolation, fear of missing out, conflict, and reduced social interaction. Other drivers of loneliness included social policies, cultural norms, the political environment, and macroeconomic factors. In fact, most research demonstrates that loneliness increases with increased use of technology, especially social media sites." "The response is incredible," Kyle Rand, CEO and cofounder of Rendever, told BI. He added: "The trend to solve loneliness through more technology, when technology has not yet reduced the problem, seems to be going in the wrong direction."

Persons: disincentivized, Dr, Nicole Siegfried, bookending, Josh Greene, Sherita Harkness, Harkness, There's, Kyle Rand, Brooke, I've, Daniel Boscaljon, Siegfried Organizations: Service, Technology, Business, US, Tech, Meta, Behavior, Flow, National Institute, Aging, National Institutes of Health, Inc, Institute, Trauma Locations: Luka, Chicago, Inc

☆ How a 25-year-old went from talking to 1,000 strangers in NYC to quitting her finance job and founding a social startup
▼ + stars: | 2024-02-08 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

"Ultimately, I spent more time home alone doing nothing than ever before," Epstein, CEO of the still-in-beta social networking app Kndrd, told Business Insider. "I spoke to a thousand strangers" — many who also felt a lack of community, companionship, or friendship, she added. But while investors may want to see viral, overnight growth for an app like Kndrd, Epstein hesitates at that strategy. "And that means me reading applications and vetting the community members and making sure that we have people who are the strongest, most high fidelity people." In the future, Kndrd also plans to incorporate AI into its user experience — something on nearly every investor's mind right now.

Persons: Isabella Epstein, Epstein, Kndrd, Tina Mai —, —, Mai aren't, Kndrd cofounders Tina Mai, Devin Kasparian Bootstrapping Organizations: Business, Stanford University, Stanford Locations: New York City, NYC, Mai, Epstein's NYC

☆ Facebook is still thriving 20 years later. Here’s how
▼ + stars: | 2024-02-03 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +8 min

Twenty years after its launch, social media giant Facebook continues to show unprecedented staying power after burying early competitors like MySpace and Friendster and establishing a distinct foothold in the burgeoning social media landscape. Daniel Acker/Bloomberg/Getty ImagesStrong social connection was the linchpin of Facebook, differentiating it from other primordial social media sites. MySpace’s monthly active users had trickled down to an estimated 35 million in mid-2011, according to a Comscore report at the time. In contrast, by September of that year, Facebook was seeing almost 800 million monthly active users. In April 2012, the company acquired photo-centric social media platform Instagram for about $1 billion.

Persons: Harvard University undergrad, Mark Zuckerberg, “, ”, Pablo Boczkowski, alums, ” Zuckerberg, Daniel Acker, Justin Timberlake, Friendster’s, Friendster, Boczkowski, Meta’s, ” Boczkowski, WhatsApp, Meta Organizations: New, New York CNN, Harvard University, Facebook, Communication Studies, Northwestern University, Harvard, New York Times, Bloomberg, Getty, MySpace, Swiss Federal Institute of Technology, Google, Meta, Inc, “, TikTok, Twitter Locations: New York, Zurich, India, Brazil, Argentina, Italy

☆ Meta, X, TikTok, Snap and Discord face growing appetite in Congress for tighter social media regulation
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

(L-R) Shou Zi Chew, CEO of TikTok, Linda Yaccarino, CEO of X, and Mark Zuckerberg, CEO of Meta testify before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Tillis and other lawmakers accused the tech executives of failing to protect children from sexual exploitation on their respective social media platforms. Growing appetite for regulationTo be sure, both Republican and Democratic senators were united in their conviction that social media firms are failing the American public and directly harming young people. Still, it takes time for bills to get passed, and all of these social media firms are still getting slammed for child-safety related issues, which could keep the topic fresh in the minds of politicians. Watch: Meta CEO Mark Zuckerberg apologizes to parents at online child safety Senate hearing.

Persons: Shou Zi Chew, Linda Yaccarino, Mark Zuckerberg, Meta, Alex Wong, Sen, Thom Tillis, Tillis, Josh Hawley, Zuckerberg, Tom Cotton, Chew Organizations: Dirksen, Facebook, Republican, Democratic, Meta, New, Apple, Lawmakers, Chinese Communist Party Locations: Washington , DC, Cambridge, China

☆ Media literacy is more than spotting fake news. How one librarian gives teens the tools to decide what to trust
▼ + stars: | 2024-01-21 | by ( Alisha Ebrahimji | ) edition.cnn.com time to read: +11 min

With lots of kids now getting their news from social media – where disinformation and content created by artificial intelligence run rampant – 18 states have some form of K-12 media literacy education on the books, according to Media Literacy Now. Of those, four – Delaware, Texas, New Jersey and, starting this year, California – mandate media literacy, with lesson standards now being crafted state by state. “But we haven’t really taught people how to use them ethically, efficiently and responsibly.”To do that, a media literacy lesson might include analyzing which emotions the wording of a mass media headline evoke. And California starting this year requires media literacy instruction to be integrated into K-12 mathematics, science and history-social science curriculums when they’re revised, according to the bill. It’s why Manganello has spent nearly two decades perfecting how she teaches media literacy.

Persons: Lisa Manganello, ” Manganello, ”, Olga Polites, seatbelts, “, ” Polites, Manganello, Jeff Johnson’s, Harrison Pekosz, Harrison, Urja Kandale, they’re, It’s, “ Young, aren’t, “ We’ve, ” Urja, Michelle Ciulla Lipkin, “ We’re, “ ‘, Elisabeth Yucis, Johnson Organizations: Brunswick , New Jersey CNN, South Brunswick High School, Smart, “ Media, CNN, ”, Literacy, Media Literacy, Social, Pew Research, Stanford University, “, Stanford, South Brunswick High, National Association for Media Literacy, Department, Professional, New Jersey Education Association Locations: Brunswick , New Jersey, Jersey, United States, Delaware, Texas , New Jersey, California, Olga Polites , New Jersey, TikTok, New Jersey, South Brunswick

☆ Nvidia isn't the only winner from Meta Platform's massive spending on AI chips
▼ + stars: | 2024-01-19 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

Meta Platforms is planning to pay Nvidia billions of dollars this year for its cutting-edge AI technology. Nvidia's stock has been off to a blistering start this year, up more than 20%, including a 3% gain Friday. Estimates on Nvidia's share of the AI training market vary, but is generally thought to be well above 80%. Still, Nvidia's stock more than tripled in 2023, leading the S & P 500, and has so far been a big winner in 2024. As Meta secures more AI chips, they will be placed in data centers where their computational capabilities will be utilized.

Persons: Mark Zuckerberg, Zuckerberg, Meta, they've, Jim Cramer, Wells, Wells Fargo, Aaron Rakers, Jim, Eaton, We've, Jim Cramer's, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Nvidia, Taiwan Semiconductor Manufacturing Company, Taiwan Semi, Meta, Apple, Facebook, Reality Labs, Eaton Corp, CNBC, European Commission, AFP, Getty Locations: Taiwan, Wells Fargo, Brussels

In China, Tencent is already doing it. Now it’s betting on Weixin Palm Payment, a biometric system launched in May for users of Weixin Pay, WeChat’s sister app. Last year, JPMorgan cited the opportunity as it announced its own payment authentication software pilot program using palm scanning. “With face scanning technology, people can look a lot like each other — like twins,” he said. The Seattle-based e-commerce giant launched its own palm scanning payment service in 2020, letting users connect their palm prints to credit cards to buy items at the company’s cashier-free stores.

Persons: China that’s, — Tencent, Guo Rizen, “, ” Guo, Tencent’s, Guo, ”, Tencent, “ We’re, Edward Santow, …, ” Santow, Kate Xue, wasn’t Organizations: China CNN, CNN, Goode Intelligence, JPMorgan, Fujitsu, University of Technology Locations: China, Shenzhen, Beijing, Seattle, Chinese, Guangdong, Supermonkey, University of Technology Sydney

☆ From livestreaming to 'shoppertainment,' Gen Zers lead the way in Singapore's online shopping space
▼ + stars: | 2024-01-15 | by ( Audrey Wan | ) www.cnbc.com time to read: +5 min

Logos of online social media and social networking sites displayed on a smartphone screen on August 01, 2023 in Bath, England. Many social media sites have introduced e-commerce features on their platforms, providing an alternative to popular online shopping sites like Lazada and Shopee. For example, users can purchase directly from TikTok shop or Facebook Marketplace without navigating outside of the application. Creators promoting products can also appeal to Gen Zers' preference for credibility by using livestreaming functions on social media platforms. As Gen Zers are digitally savvy, they rely a lot on social media nano-influencers to guide their purchasing decisions, he said.

Persons: Matt Cardy, Zers, Gen Zers, TikTok, Lawrence Loh, Tracy Loh, Wu Zu, Wu, Loh, millennials, Gen, SMU's Loh, Cristiano Ronaldo, Gen Zs Organizations: Getty, SINGAPORE, Meta, Bain & Company, Research, Social, Facebook, National University of Singapore's, Business, Singapore Management University, SMU, NUS, National University of Singapore Business, CNBC Locations: Bath, England, Singapore, Zers, Southeast Asia

☆ Roberto ‘Pico’ Lopes: He ignored a Linkedin message once, but not the second time. When he responded his life changed forever
▼ + stars: | 2024-01-12 | by ( Alasdair Howorth | ) edition.cnn.com time to read: +9 min

I just thought it was a welcome message … so I ignored it.”Fortunately for Lopes, Cape Verde head coach time Rui Águas messaged the Shamrock Rovers defender again nine months later – this time in English – asking if he had considered his offer. Roberto Lopes, who plays for Cape Verde, was born and raised in Dublin. French forward Just Fontaine (L) scores in France's World Cup 5-2 semifinal defeat to Brazil in 1958. France’s captain at the first ever World Cup in 1930 was Algerian-born Alexandre Villaplane. But having recently reversed that policy, the Taifa Stars will have a number of players born outside the continent in its squad for the 2024 tournament.

Persons: CNN —, Roberto “ Pico ” Lopes, Lopes, “, ” Lopes, Rui Águas, Roberto Lopes, Ulrik Pedersen, Mohamed Salah, Lopes won’t, Alexandre Villaplane, Fontaine, Eusébio, Samuel Eto’o, Bryan Mbeumo, Yoane Wissa, ” Wissa, Darren Lewis, Benoît Assou, Ekotto, Ryan Byrne, ”, ‘, ’, Abdoulaye Doucouré, Wilfred Zaha, Les, Patrice Beaumelle, I’ve, I’m, ” Carlos ‘ Caluccha ’ Lopes, Roberto’s, Roberto, “ It’s, he’s, hasn’t Organizations: CNN, Shamrock Rovers, Cape, CNN Sport, Africa, of Nations, LinkedIn, AP, Google, Blue Sharks, Rovers, Professional, Association of Ireland’s, body’s, AFP, Getty, France, UEFA, Benfica, English Premier League, Cameroon soccer, Brentford, Ireland, Democratic, Former Cameroon, Tottenham Hotspur, Lions, League of Ireland Premier Division, Everton, Mali, Ivorian national team, Galatasaray, Cape Verde Locations: Dublin, Republic of Ireland, Cape Verde, Lopes , Cape Verde, Ireland, Egypt, Cape Verde’s, Ghana, Mozambique, Brazil, Africa, Algerian, French, Marrakech, Morocco, Mozambican, Angolan, Portuguese, Portugal, Algeria, Tanzania, Cameroon, Europe, Democratic Republic of Congo, DRC, France, Poland, you’re, Ivory Coast, Cape Verdean, Verdean

☆ Former Chinese central banker took ‘extraordinarily massive’ bribes, state media says
▼ + stars: | 2024-01-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Fan Yifei, a disgraced former Chinese central banker, has admitted making a “huge mistake” in comments aired as part of a documentary by state broadcaster CCTV that alleges he accepted massive bribes from the beginning of his tenure. It described how he had received “extraordinarily massive” payments from executives of various companies in exchange for favors after taking up the PBOC’s second-highest position. “I wanted to possess great power, and at the same time, to be rich,” Fan said in the documentary. “I made a huge mistake.”According to CCTV, Fan accepted payments from businesspeople through his brother’s investment company. In addition to Fan’s case, the CCTV documentary exposed graft at a state-owned energy investment group and at the highest levels of Chinese sport.

Persons: Fan, Xi Jinping, “, Qian Long, Liu Liange, Wang Bin, Tang Shuangning, Tang, Wang Yongsheng, Wang, Li, China’s Organizations: Hong Kong CNN, People’s Bank of China’s, Central Commission, Xinhua, Communist Party, National Supervisory Commission, of China, China Life Insurance, China Everbright, China Development Bank, China Daily, soccer team, China’s Twitter Locations: China, Hong Kong, Xinhua, Weibo

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