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Mark Zuckerberg, CEO of Meta Platforms, demonstrates the Meta Quest Pro during the virtual Meta Connect event in New York on Oct. 11, 2022. Meta continues to sink billions of dollars a quarter into developing the metaverse, and is just now facing its first real competitive threat from Apple . In its fourth-quarter earnings report Thursday, Meta said its Reality Labs unit recorded an operating loss in the period of $4.65 billion. The metaverse division has now lost more than $42 billion since the end of 2020, the first quarter for which numbers are available publicly. Revenue within Reality Labs was more than $1 billion in the fourth quarter, up from $727 million in the same period a year earlier.
Persons: Mark Zuckerberg, Meta, StreetAccount Organizations: Meta, Apple, Reality Labs Locations: New York
CNN —On Wednesday, the chief executives of Meta, TikTok, X, Snap and Discord testified before the Senate about what they’re doing to protect kids from harm online. In the leadup to the testimony, tech companies announced new initiatives to protect kids. The Stop CSAM (Child Sexual Abuse Material) Act of 2023 would make it possible to hold tech companies civilly liable for hosting child sexual abuse material. This would be an important way of incentivizing tech companies to do more to protect kids from sextortion and other forms of online exploitation. Tech companies also have a lot more work to do.
Persons: Kara Alaimo, Meta’s Mark Zuckerberg, TikTok’s Shou Chew, Democratic Sen, Dick Durbin, Snap’s Evan Spiegel, X’s Linda Yaccarino, Discord’s Jason Citron, Kara Alaimo Durbin, , , ” South Carolina Republican Sen, Lindsey Graham, Chew, Yaccarino, Spiegel, Zuckerberg, it’s, Taylor Swift Organizations: Fairleigh Dickinson University, Women, Press, Facebook, CNN, Meta, Senate, Democratic, Illinois, ” Senators, ” South Carolina Republican, Tech, Media Locations:
One proposal to Mr. Zuckerberg for 45 new staff members was declined. It was rejected and he returned to Mr. Zuckerberg in November with a scaled-down proposal for 32 new hires. It is unclear what Mr. Zuckerberg decided. At the hearing, Mr. Zuckerberg plans to suggest that Apple bear the responsibility for verifying ages via its App Store, according to his prepared remarks. Mr. Zuckerberg has long positioned Meta — and the internet writ large — as a place for both good and ill.
Persons: Mark Zuckerberg, Zuckerberg, Meta, Richard Blumenthal, Marsha Blackburn, Mr, Blumenthal, “ We’ve, Andy Stone, Sheryl Sandberg, Nick Clegg, Clegg, Zuckerberg’s, , Organizations: Meta, Facebook, Republican, Apple Locations: Connecticut, Tennessee
One proposal to Mr. Zuckerberg for 45 new staff members was declined. It was rejected and he returned to Mr. Zuckerberg in November with a scaled-down proposal for 32 new hires. It is unclear what Mr. Zuckerberg decided. At the hearing, Mr. Zuckerberg plans to suggest that Apple bear the responsibility for verifying ages via its App Store, according to his prepared remarks. Mr. Zuckerberg has long positioned Meta — and the internet writ large — as a place for both good and ill.
Persons: Mark Zuckerberg, Zuckerberg, Meta, Richard Blumenthal, Marsha Blackburn, Mr, Blumenthal, “ We’ve, Andy Stone, Sheryl Sandberg, Nick Clegg, Clegg, Zuckerberg’s, , Organizations: Meta, Facebook, Republican, Apple Locations: Connecticut, Tennessee
Hours before Mark Zuckerberg, the chief executive of Meta, was set to testify on Wednesday about child safety online, lawmakers released internal documents showing how his company had rejected calls to bulk up on resources to combat the problem. In 90 pages of internal emails from fall 2021, top officials at Meta, which owns Instagram and Facebook, debated the addition of dozens of engineers and other employees to focus on children’s well-being and safety. One proposal to Mr. Zuckerberg for 45 new staff members was declined. The documents, which are being released in full for the first time, were cited in a lawsuit last year by 33 state attorneys general who accused Meta of getting young users hooked on its apps. They contradict statements from company executives, including the head of global safety and the head of Instagram, who testified in congressional hearings on child safety during that period that they prioritized the well-being of their youngest users and would work harder to combat harmful content on their platform.
Persons: Mark Zuckerberg, Zuckerberg, Meta, Richard Blumenthal, Marsha Blackburn Organizations: Meta, Facebook, Republican Locations: Connecticut, Tennessee
Zuckerberg is expected to tout the company’s more than 30 safety controls, according to prepared testimony released ahead of the hearing. In recent weeks, Meta has also begun hiding more “age-inappropriate” content in teens’ feeds and restricting teens from receiving direct messages from people they don’t follow. Ideally, Clegg said, Zuckerberg would authorize as many as 124 new hires, but acknowledged that financial pressures could make it difficult. After months of radio silence from Zuckerberg, Clegg tried to follow up, this time with a slimmed-down proposal that envisioned either 25 new hires or, if even that was infeasible, just seven. “This would be the bare minimum needed to meet basic policymaker inquiries,” Clegg wrote to Zuckerberg on Nov. 10, 2021.
Persons: “ We’re, ” Connecticut Democratic Sen, Richard Blumenthal, Mark Zuckerberg, Zuckerberg, Evan Spiegel, Rosemarie Calvoni, Meta, Calvoni, , ” Calvoni, Arturo Béjar, , Tennessee Republican Sen, Marsha Blackburn, Sheryl Sandberg, Global Affairs Nick Clegg, Clegg —, , Clegg, ” Clegg, Sandberg, Organizations: Washington CNN, Meta, Twitter, ” Connecticut Democratic, Facebook, Blumenthal, Tennessee Republican, Global Affairs Locations: ” Connecticut, Massachusetts
CNN —About two weeks after his oldest son’s funeral, South Carolina state house Rep. Brandon Guffey says he received a private Instagram message with a laughing emoji. Then Guffey and his younger son began to get messages demanding money in exchange for nude photos of his late son. South Carolina State Rep. Brandon Guffey in an undated photo with his wife, Melissa, and their sons, Gavin, 17, Coen, 16, and Callahan, 4. Minutes before he died by suicide in July 2022, Gavin Guffey sent his brother and friends this text message. South Carolina state Rep. Brandon Guffey, right, has lobbied hard for tougher penalties for sextortion scammers.
Persons: Brandon Guffey, Gavin Guffey, Guffey, Gavin, Melissa, Coen, Callahan, they’ve, Gavin Guffey texted, Gavin texted, Henry McMaster, scammers, Brandon Guffey “, ” Guffey, , , , “ Meta, It’s, ” Douglas DePodesta, ” Gavin Guffey, Jordan DeMay, Ryan Last, sextortion scammers, I’m, they’re, “ They’re, he’s, He’s Organizations: CNN, Meta, South Carolina State Rep, Gov, FBI, United States Attorney’s Office, Western, Western District of Michigan, Facebook, Rep, sextortion, Communications Locations: South Carolina, , Rock Hill , South Carolina, Venmo, Memphis, United, Western District, Nigeria, Marquette , Michigan, San Jose , California
CNN —Marie-Louise Eta made history on Sunday after becoming the first woman to take charge of a men’s team in a Bundesliga fixture. The 32-year-old was named Union Berlin’s assistant coach earlier in the season but filled in for usual head coach Nenad Bjelica, who is currently serving a three-game ban. Eta’s first match in charge ended with a 1-0 victory against Darmstadt, with Benedict Hollerbach’s first-half strike the difference between the two sides. According to Bundesliga.com, Eta retired at just 26 before stepping into coaching – she took charge of Germany’s youth teams before joining Union Berlin in 2023. Bjelica will be missing for Union Berlin’s next two matches against RB Leipzig and Mainz.
Persons: CNN — Marie, Louise Eta, Nenad Bjelica, Eta’s, Benedict Hollerbach’s, “ We’re, Eta, , , Bjelica, Bayern’s Leroy Sané, , ” Bjelica Organizations: CNN, Union, Darmstadt, UEFA Women’s, Turbine Potsdam, Union Berlin, Union Berlin’s, Bayern Munich, German Football Association, RB Leipzig Locations: Mainz
American artist and sculptor Carl Andre pictured at London's Whitechapel Gallery in London on March 15, 1978. Andre’s work often consisted of industrially fabricated forms made from simple, raw material — such as metal, granite, wood, and brick — arranged in free-standing patterns. His death passing was confirmed on Wednesday by the Paula Cooper Gallery, with which the artist had worked since 1964. “My father always said, ‘I am old school and European, and my wife does not work,’” Andre told the magazine. Ken Hively/Los Angeles Times/Getty ImagesIn 1970, after just over a decade in New York, Andre received his first major museum survey, at the Guggenheim Museum.
Persons: Carl Andre, — Carl Andre, Paula Cooper, Ana Mendieta, Andre, ” Andre, George Andre —, , Margaret Johnson, , ’ ” Andre, , Frank Stella, Stella —, “ They’re, They’re, Ken Hively, Peter Schjeldahl, “ Andre, Mendieta, Helen Molesworth, Angeles’s Museum of Contemporary Art —, “ Carl Andre, Melissa Kretschmer Organizations: The Art, CNN, Phillips Academy, Kenyon College, Army, Northeastern University —, Tate, Los Angeles Times, Guggenheim Museum, The New York Times, Dia Beacon, Angeles’s Museum of Contemporary Art, Artforum Locations: London, American, New York City, Quincy , Massachusetts, United States, Sweden, “ The, Andover , Massachusetts, Beverly Hills, New York, Greenwich Village
One proposal to Mr. Zuckerberg for 45 new staff members was declined. It was rejected and he returned to Mr. Zuckerberg in November with a scaled-down proposal for 32 new hires. It is unclear what Mr. Zuckerberg decided. At the hearing, Mr. Zuckerberg plans to suggest that Apple bear the responsibility for verifying ages via its App Store, according to his prepared remarks. Mr. Zuckerberg has long positioned Meta — and the internet writ large — as a place for both good and ill.
Persons: Mark Zuckerberg, Zuckerberg, Meta, Richard Blumenthal, Marsha Blackburn, Mr, Blumenthal, “ We’ve, Andy Stone, Sheryl Sandberg, Nick Clegg, Clegg, Zuckerberg’s, , Organizations: Meta, Facebook, Republican, Apple Locations: Connecticut, Tennessee
These Seven Tech Stocks Are Driving the Market
  + stars: | 2024-01-22 | by ( Karl Russell | Joe Rennison | ) www.nytimes.com   time to read: +8 min
These Seven Tech Stocks Are Driving the MarketThe S&P 500 is at a new high, and investors have just a handful of stocks to thank for it. Market value of S&P 500 companies These seven companies account for 29% of the S&P 500’s market value Alphabet $1.8 tril. Amgen Linde Qualcomm Intel Pfizer These seven companies account for 29% of the S&P 500’s market value Market value of S&P 500 companies Thermo Fisher Scientific McDonald's Cisco Sys. Berkshire Hathaway UnitedHealth Costco These seven companies account for 29% of the S&P 500’s market value Market value of S&P 500 companies Thermo Fisher Scientific Abbott Labs. Indeed, based on price alone, the seven big tech stocks were not the best performing in the S&P 500.
Persons: Jan, it’s, Berkshire Hathaway Tesla, Health Eli Lilly, Johnson Procter, Netflix Walt Disney, Amgen Linde, Wells, Merck Mastercard Eli Lilly Johnson, Johnson, JPMorgan Chase, Berkshire Hathaway, Wells Fargo Walt Disney Pfizer Amgen, Phillips Goldman, Mastercard Eli Lilly Abbvie Johnson, Chase Organizations: Apple, Meta, Microsoft, Nvidia, Tesla, Berkshire, JPMorgan Chase United, Health, Broadcom Johnson, Gamble Exxon Mobil Home Depot Mastercard Costco Walmart Oracle Merck Accenture, Mobile Wells Fargo PepsiCo Comcast, Intuit, Fisher, Netflix Walt, Netflix Walt Disney Cisco Sys, Verizon Abbott Labs, Amgen, Amgen Linde Qualcomm Intel Pfizer, Cisco Sys, Abbott Labs, Accenture Netflix Linde Intel PepsiCo Oracle Walmart, Wells Fargo Walt Disney Qualcomm, Mobile Comcast Intuit, Verizon, Pfizer, Merck Mastercard, Johnson Nvidia, Visa Exxon Mobil Apple, Broadcom, JPMorgan, JPMorgan Chase Procter, Gamble, Costco, Fisher Scientific Abbott Labs, Cisco Systems Accenture PepsiCo, Netflix Linde Intel Oracle Walmart, Wells Fargo Walt Disney Pfizer, Mobile, Comcast Intuit Verizon Qualcomm Amazon, Merck Uber Tech, P Global American, Phillips Goldman Sachs IBM UPS Honeywell Boeing, Mastercard, Adobe Exxon Mobil Apple, Broadcom Chevron Home, Micro Devices, Chase Procter, Berkshire Hathaway UnitedHealth Bank of America Costco, Royal, General, Amazon, Big Tech, IBM, Exxon, General Electric, & & + + + Locations: Berkshire, Royal Caribbean
In his first game back from an eight-month ban, Toney scored from a free kick to help Brentford beat Nottingham Forest 3-2 on Saturday and end a skid of five straight Premier League losses. I’m just buzzing to be back and scoring goals and playing for the team. Frank even gave Toney the captain's armband for this game, indicating how important his return is for the west London club. Toney led his team with 20 goals in 33 league games last season before being handed the ban in May. With the return of Toney, any thoughts of a relegation scrap for Brentford might soon be in the past.
Persons: — Ivan Toney, Toney, , ” Toney, Thomas Frank, Dane, Frank, Nuno Espirito, Danilo, Ben Mee, Chris Wood, Callum Hudson, Forest's Orel Mangala, Mads Roerslev, Neal Maupay, volleying, Thomas Frank’s, “ I’m, I’ve, Gabriel Magalhaes, Gabriel Martinelli, ” Martinelli, Gabriel, Dean Henderson, Leandro Trossard, Martinelli's, Mikel Arteta’s, Roy Hodgson’s, ___ Organizations: Brentford, Nottingham Forest, Premier League, Nuno Espirito Santo, Forest, ” ARSENAL, Fulham —, Liverpool, Arsenal, Crystal, Emirates, Aston Villa, Bournemouth, League's Locations: London, Dubai, West Ham, Liverpool
In one of my earliest memories, I am sitting in my teta’s (grandmother’s) lap. The scent of ripe figs fills the air with the calm satisfaction of late summer. Our hands work together to pull apart grape leaves we had picked from the vines in her garden. My teta would use the leaves to cook my favorite dish: warak enab, or stuffed grape leaves. They worked the land, and the land worked them.
Locations: We’re, Israel, Palestine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Meta’s Nicola MendelsohnNicola Mendelsohn, head of Global Business Group at Meta, joins CNBC's Tania Bryer to talk about AI, new technologies and innovations and what the social media giant has planned for 2024.
Persons: Meta’s Nicola Mendelsohn Nicola Mendelsohn, Tania Bryer Organizations: Global Business, Meta
The lawsuit accuses Meta of creating a “breeding ground” for child predators. “The company determined that recruiting and exploiting (or advertising) victims for profit were the most common,” the complaint states. But New Mexico Attorney General Raúl Torrez has said the company needs to do more to protect children and teens. “Parents deserve to know the full truth about the risks children face when they use Meta’s platforms,” Torrez said in a statement. “For years, Meta employees tried to sound the alarm about how decisions made by Meta executives subjected children to dangerous solicitations and sexual exploitation.”
Persons: Meta, , , Mark Zuckerberg, , , We’ve, Liza Crenshaw, ” Crenshaw, “ Meta, they’ve, General Raúl Torrez, Torrez Organizations: New, New York CNN, Apple, Facebook, IG, Meta, , National Center for, Audit, Force Locations: New York, New Mexico
Why Calvin Klein ads still get people talking
  + stars: | 2024-01-18 | by ( Joan Kennedy | ) edition.cnn.com   time to read: +9 min
The strategy was classic Calvin Klein, a brand which has been synonymous with sexy, conversation-starting campaigns since the 1970s. From Calvin KleinBut the White ads were just the start of the headlines for Calvin Klein. Adorning a New York City phonebooth, Mark Wahlberg is seen in a 1992 Calvin Klein campaign. Meanwhile, no one besides the ASA seems to be admonishing Calvin Klein over the FKA Twigs ads. For Calvin Klein, both sets of ads are an example of that old adage — there’s no such thing as bad publicity.
Persons: CNN —, Jeremy Allen White’s, Calvin Klein, , Calvin, White, Bottega, Kendall Jenner, FKA, , Milan Jaros, Kate Moss, Brooke Shields, innuendos, Mark Wahlberg, Eva Mendes, , Matt Kissane, Landor, Calvin Klein’s, Moss, Wahlberg, Marky Mark ”, Justin Bieber’s, Justin Bieber's Calvin Klein, Stacy Walsh Rosenstock, he’s, popstar Rosalía, Amy Kommatas, Jenner, Hadid, Allen Adamson, Alas, Adamson, Henry McGee, Launchmetrics, Jeremy Allen White, “ They’ve Organizations: The, Fashion, CNN, Authority, Standards Agency, Standards Authority, ASA, Bloomberg, Getty, Hulu, Business, US Justice Department Locations: SoHo, Prague, Czech Republic, Zara, York's, Los Angeles, New York City
CEO Mark Zuckerberg announced on Thursday that Meta plans to build its own artificial general intelligence, known as AGI, which is artificial intelligence that meets or surpasses human intelligence in almost all areas. Zuckerberg’s latest announcement is one of its biggest pledges to double down on artificial intelligence. Big Tech companies including Microsoft, Google and Amazon continue to share new AI tools and visions amid a heightened and renewed AI arms race. Earlier this year, Zuckerberg said Meta is creating a new “top-level product group” to “turbocharge” the company’s work on AI tools. “That trope around ‘every company is now a technology company’ has evolved to be every company is now an AI company,” he said.
Persons: Mark Zuckerberg, Zuckerberg, , , Meta, GenAI, Ray Ban Meta, Ray, turbocharge, Dipanjan Chatterjee Organizations: CNN, Meta, FAIR, AIs, Big Tech, Microsoft, Google, Forrester Research, Facebook
BAINBRIDGE, Ga. (AP) — Some local residents and an animal-rights group are protesting plans for a monkey-breeding facility in southwest Georgia. Political Cartoons View All 253 ImagesThe Bainbridge facility would provide a domestic source of monkeys to offset imports, the company said. “PETA urges Bainbridge officials to withdraw their support and shut down this project before a shovel hits the dirt," she wrote. The company and local officials said the nonprofit and community's concerns are baseless. Local officials in December agreed to property tax breaks for the project — waiving them for the first 10 years and then gradually decreasing tax breaks until they end after 20 years.
Persons: didn’t, Charles River, we’d, ” Ted Lee, Lisa Jones, Engel, ” Jones, Bainbridge, Rick McCaskill, ” McCaskill Organizations: Council, Medicine, Charles River Laboratories, PETA, Development Authority of, Local Locations: BAINBRIDGE, Ga, Georgia, Bainbridge, Cambodia, Brazoria County , Texas, Houston, U.S, Development Authority of Bainbridge & Decatur County
Sheryl Sandberg to leave Meta board
  + stars: | 2024-01-17 | by ( Clare Duffy | ) edition.cnn.com   time to read: +3 min
New York CNN —Former longtime Meta chief operating officer Sheryl Sandberg will not remain on the company’s board of directors after her term ends in May, she said in a Facebook post Wednesday. “With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for reelection this May,” Sandberg said in the post. Meta did not immediately respond to a request for comment about Sandberg’s decision to leave the board. In partnership with Zuckerberg, Sandberg helped grow Facebook’s revenue from roughly $150 million in 2007 to more than $3.7 billion in 2011, the year before it went public. In 2022, the year Sandberg stepped down as COO, Meta posted total annual revenue of $116.6 billion.
Persons: Sheryl Sandberg, ” Sandberg, Sandberg, Mark Zuckerberg “, Sheryl, ” Zuckerberg, , Meta, Bill Clinton, Zuckerberg, “ Sheryl architected, Riley Gutiérrez McDermid, Brian Fung, Rishi Iyengar Organizations: New, New York CNN, Meta, Facebook, Lean, Google, World Bank, Treasury Department Locations: New York, reorient
Wednesday’s filing alleges that Match Group cut its advertising spending on Meta’s platforms over its concerns. Wednesday’s complaint cites an alleged email exchange between Match and Meta late last year in which the dating company asked how Meta prevented its ads from running next to inappropriate content. Meta responded saying it had removed some of the flagged content, including the group, the complaint states. Former Facebook employee-turned-whistleblower Arturo Bejar also told a Senate subcommittee in November that Meta’s top executives, including Zuckerberg, ignored warnings for years about harm to teens on its platforms. Zuckerberg and Meta are refusing to be honest and transparent about what is taking place on Meta’s platforms,” Torrez said in a statement to CNN Wednesday.
Persons: General Raúl Torrez, Torrez, Mark Zuckerberg, Meta, ” Meta, Andy Stone, , we’ve, provocatively, Harley Davidson, , Zuckerberg, Arturo Bejar, Mr, Meta’s Stone Organizations: New, New York CNN, Group, Walmart, Meta, CNN, Wall, Facebook, Wednesday Locations: New York, New Mexico, Mexico, , TikTok
These two diverging camps — the open and the closed — disagree about whether to build AI in a way that makes the underlying technology widely accessible. "So it’s not like a thing that is locked in a barrel and no one knows what they are.”Political Cartoons View All 1277 ImagesWHAT'S OPEN-SOURCE AI? Part of the confusion around open-source AI is that despite its name, OpenAI — the company behind ChatGPT and the image-generator DALL-E — builds AI systems that are decidedly closed. An increasingly public debate has emerged over the benefits or dangers of adopting an open-source approach to AI development. Weights are numerical parameters that influence how an AI model performs.
Persons: they’re, That's, , Darío Gil, Alliance —, ” Gil, OpenAI, Ilya Sutskever, there's, David Evan Harris, Harris, , Oppenheimer ’, Camille Carlton, Yann LeCun, LeCun, fearmongering, ” LeCun, Chris Padilla, Joe Biden's, Gina Raimondo Organizations: Tech, Meta, IBM, Alliance, Google, Microsoft, Dell, Sony, AMD, Intel, Associated Press, Stanford University, University of California, for Humane Technology, Frontier Model, Windows, Commerce, European Locations: Berkeley
CNN —A nationally recognized online disinformation researcher has accused Harvard University of shutting the project she led to protect its relationship with mega-donor and Facebook founder Mark Zuckerberg. The allegations, made by Dr. Joan Donovan, raise questions about the influence the tech giant might have over seemingly independent research. Beginning in 2018, Dr. Donovan worked for the Shorenstein Center at Harvard University’s John F. Kennedy School of Government, and ran its Technology and Social Change Research Project, where she led studies of media manipulation campaigns. But last year Harvard informed Dr. Donovan it was shutting the project down, Donovan claims. The Chan Zuckerberg Initiative is the philanthropy run by Zuckerberg and his wife, Priscilla Chan, who both attended Harvard.
Persons: Mark Zuckerberg, Joan Donovan, Donovan, Harvard University’s John F, Dr, Miguel Cardona, Chan, Chan Zuckerberg, Zuckerberg, Priscilla Chan, ” Libby Liu, Frances Haugen, “ We’ve, ” Liu Organizations: CNN, Harvard University, Meta, Shorenstein, Harvard University’s, Kennedy School of Government, Technology, Research, Harvard, US Education, University, Initiative, The Washington Post, Post, Big Energy, Big Pharma
Meta did not attribute the network of fake Facebook accounts to a particular entity in China. It’s the latest in a series of warnings from tech firms documenting how Chinese propaganda and influence operations have more aggressively targeted American audiences in the last year. It wasn’t clear, Meta said in a report on foreign online threats published Thursday, what the Chinese network of fake accounts was trying to accomplish. While Meta and other tech firms tout their work to protect elections, recent moves by the company also show trends in the other direction. And Meta this month said it would allow political ads on its platforms to question the outcome of the 2020 US presidential election.
Persons: Meta, Ron DeSantis, Nancy Pelosi, Iran —, haven’t, Nathaniel Gleicher, ” Ben Nimmo, , Liu Pengyu Organizations: CNN, Florida Gov, Meta, Republicans, US, of Liberty, Microsoft, Embassy Locations: China, Russia, Iran, Washington
Thursday’s lawsuit in Washington federal court calls for a halt to the FTC’s proceeding, arguing that it is an unconstitutional abuse of government power. Meta appealed that decision on Tuesday, but Thursday’s lawsuit expands the company’s pushback further. The FTC declined to comment on the new suit. After alleging new violations of Meta’s 2020 consent order, the FTC proposed in May to expand the terms of the company’s settlement to include significant new restrictions barring it from monetizing the personal data of users under age 18. If approved, the restrictions could significantly limit Meta’s data-driven business, particularly as it seeks to court younger users and to grow in new product areas, such as virtual reality.
Persons: Washington CNN —, Meta Organizations: Washington CNN, Meta, Federal Trade Commission, FTC, Supreme Locations: Washington
In a lawsuit filed late Wednesday in federal court in Washington, D.C., Meta Platforms Inc. said it is challenging “the structurally unconstitutional authority exercised by the FTC” in reopening the privacy agreement. “Meta respectfully requests that this Court declare that certain fundamental aspects of the Commission’s structure violate the U.S. Constitution, and that these violations render unlawful the FTC Proceeding against Meta,” the company says in its complaint. The dispute stems from a 2020 consent agreement Meta made with the FTC that also had the social media giant pay a record $5 billion fine over privacy violations. In May of this year, the FTC said Meta has failed to fully comply with the 2020 settlement and proposed sweeping changes to the agreement that includes barring Meta from making money from data it collects on minors. Political Cartoons View All 1274 ImagesThe FTC had no comment on the lawsuit.
Persons: “ Meta, Meta, Sen, Edward Markey, , ” Markey Organizations: Facebook, Federal Trade Commission, Washington , D.C, Inc, FTC, Constitution, Meta, U.S, Securities and Exchange Commission, SEC, Big Tech, Massachusetts Democrat Locations: Calif, Washington ,, U.S, U.S ., Massachusetts
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