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☆ Meta shares surge nearly 20% as Zuckerberg pledges to make 2023 a ‘year of efficiency’
▼ + stars: | 2023-02-01 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —For years, Facebook and its CEO Mark Zuckerberg invested heavily in growth, including in areas like virtual reality with unproven potential. All of that helped send shares of Meta up nearly 20% in after hours trading Wednesday. Meta reported nearly $32.2 billion in revenue for the quarter, down 4% from the year prior but ahead of the $31.5 billion analysts had projected. The guidance is somewhat better than Snapchat-parent Snap’s from earlier in the week, which said it expects first quarter revenue to fall between 2% and 10% compared to the previous year. The company also lost a total of more than $13.7 billion in its “Reality Labs” unit which houses its metaverse efforts.

Snap said its direct response business geared towards driving product sales or website visits rose 4% in October-December. That could "be viewed as a healthy sign for Meta and Google," whose businesses are tuned to direct response advertisers, said Mark Shmulik, senior analyst at research firm Bernstein. Similarly, Meta has said in previous quarters that the bulk of its revenue comes from direct response advertising. Headwinds for Meta and Google could be notably less severe, he added. The weak outlook pulled down the shares of rivals Meta, Google, and Pinterest (PINS.N), which also earns revenue by selling digital advertising, on Tuesday.

☆ Microsoft is chill with employees using ChatGPT — just don’t share ‘sensitive data’ with it.
▼ + stars: | 2023-02-01 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Microsoft warned employees against sharing "sensitive data" with ChatGPT. Leaked internal communications revealed that Microsoft's CTO office told employees that using ChatGPT is fine. "Companies and employees are all scrambling to find out the exact rules around using ChatGPT for work." He added: "The interesting thing here is that Microsoft is a big partner and investor of OpenAI, the maker of ChatGPT. In theory, Microsoft stands to gain when ChatGPT collects more data and improves its technology.

☆ Snap shares plunge on weak revenue as digital ad struggles continue
▼ + stars: | 2023-01-31 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

It's the third disappointing earnings report in a row for Snap investors. The day after the company's Q3 earnings report in October, shares fell 28% on disappointing revenue. Snap shares slid more than 14% in extended trading on Tuesday after the social media company reported fourth-quarter revenue that trailed analysts' estimates. In a letter to investors, Snap called it a "challenging year" that was marked by "macroeconomic headwinds, platform policy changes, and increased competition. It's an ominous start to fourth-quarter earnings season for ad-supported internet companies.

☆ Everyone's watching Meta's earnings report for a hint at how online ads are doing
▼ + stars: | 2023-01-30 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +7 min

Andrew Caballero-Reynolds | AFP | Getty ImagesWall Street's worst year since 2008 wreaked havoc on tech companies, particularly those reliant on digital advertising. Also on Thursday, investors will hear from Amazon and Apple , which both have growing digital ad businesses that have been taking market share of late from Google and Facebook. But revenue growth isn't expected to pick back up until the second half of the year. Revenue is expected to fall another 2.8% in the first quarter, before sub-1% growth returns in the second period. He has a hold rating on Meta, Snap, Amazon and Netflix, but recommends buying Alphabet and Apple, according to FactSet.

☆ Layoffs at Google, Microsoft, Salesforce Teaching Tech Employees a Harsh Lesson
▼ + stars: | 2023-01-29 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +14 min

Tech workers are using all sorts of emotional phrases to describe the layoff wave that has gripped the industry and become the talk of the business world. "I'm shocked and hurt and still processing," Katie Olaskiewicz, a former human-truths strategist at Google, wrote on LinkedIn last week shortly after 12,000 Google employees were let go. Over the past two weeks, a total of 40,000 employees have been laid off from Amazon, Microsoft, and Google, a nightmare come true for tech workers. The tech layoffs have been starkly different from Wall Street, which has in recent months instituted its own rounds of job cuts. Wall Street realitiesIn many ways, tech workers are waking up to a reality that their peers in other high-flying industries have always known.

☆ I see this year's budding stock rally signaling a different kind of bull market, one that's not so reliant on just a few stocks
▼ + stars: | 2023-01-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

This nascent bull market started with the peak in interest rates and the dollar back in the fall and then broadened to include bank and semiconductor stocks in 2023. That's right we created FANG a decade ago this week on "Mad Money," and it was a really good call — until it wasn't. The stability of a market that's based, in part, on the assumption of a JPMorgan (JPM) or an American Express or even a Boeing rallying on earnings, seems tidal to me. That's what's happening as we consider the market to be far bigger than any group of a half-dozen stocks. Yes, I am shredding the cynicism and heralding the new bull market, one that's not ignorant of what ails things, but is benignly rotational.

MEMPHIS, Tenn., Jan 27 (Reuters) - The police department in the city of Memphis was set on Friday to release body-camera video of a violent confrontation between a Black motorist and five police officers charged with murder in his death earlier this month. Nichols succumbed to injuries he sustained from his encounter with police and died while hospitalized on Jan. 10, three days after he was pulled over while driving. The last words heard on the video were Nichols calling out for his mother three times, Crump said. Two members of the Memphis Fire Department involved in the response have been relieved of their duties pending a separate inquiry. PUBLIC OUTRAGE EXPECTEDAdditional Memphis police officers remain under investigation for policy infractions, Police Chief Cerelyn Davis said on Thursday in a message posted to YouTube.

☆ From PayPal to Facebook, Silicon Valley has long been obsessed with the idea of company "mafias." Take a look at ex-Square staffers who have created more than $40 billion of startup value.
▼ + stars: | 2023-01-27 | by ( Samantha Stokes | Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

The idea of Silicon Valley "mafias" first emerged with the Oracle, Facebook, and PayPal mafias. Former Square staffers have gone on to launch startups worth nearly $40 billion cumulatively. Silicon Valley insiders have long been obsessed with the idea of startup "mafias." The "PayPal mafia" was perhaps the most infamous company that spawned the founders of tech giants like YouTube, Yelp, Tesla, and LinkedIn. Facebook and Oracle also have their own mafias of former employees that have produced iconic tech companies like Salesforce, Asana, and GoodRx.

☆ The timeline of Tyre Nichols' death, from being stopped by Memphis cops to officers being charged with his murder
▼ + stars: | 2023-01-27 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +8 min

Tyre Nichols died after he was beaten by Memphis police officers, his family's attorneys say. The Memphis Police Department has not released many details about the case, but Police Chief Cerelyn Davis condemned the incident as "heinous, reckless, and inhumane." January 10: Nichols diesThe Tennessee Bureau of Investigation announced that Nichols had "succumbed to his injuries." January 20: Memphis Police says five officers firedMemphis police officers Demetrius Haley, Tadarrius Dean, Justin Smith, Emmitt Martin, and Desmond Mills Jr. are facing murder charges. Wells added that the footage showed Nichols repeatedly calling out for his mother, according to The Washington Post.

☆ Chinese engineer sentenced to 8 years in U.S. prison for spying
▼ + stars: | 2023-01-26 | by ( Chantal Da Silva | Chantal Da Silva Is A Breaking News Editor For Nbc News Digital Based In London. | ) www.nbcnews.com time to read: +3 min

A former Chicago graduate student in electrical engineering was sentenced Wednesday to eight years in prison for spying for the Chinese government. Ji Chaoqun, 31, a Chinese national, was convicted last year of acting as an agent of China's Ministry of State Security and making a material false statement to the U.S. Army. Chinese engineer Ji Chaoqun. During the meetings, he said he could use his military identification to visit and take photos of "Roosevelt-class" aircraft carriers, the Justice Department said. The Chinese foreign ministry did not immediately respond to a request for comment.

☆ Jan. 6 Committee failed to hold social media companies to account for their role in the Capitol attack, staffers and witnesses say
▼ + stars: | 2023-01-26 | by ( Donie O'Sullivan Audrey Ash Zachary Cohen | Donie O'Sullivan | Audrey Ash | ) edition.cnn.com time to read: +9 min

But now these witnesses, along with some committee staff, are frustrated, saying the committee failed to adequately hold major social media companies to account for the role they played in the worst attack on the Capitol in 200 years. They also said the final report outlines structural issues across social media and society that need to be studied further. Jeremy Moorhead/CNNDisagreement about social media companies’ role in the Jan. 6 attack comes as 2023 looks to be a pivotal year for Silicon Valley firms in Washington, DC. “Indeed, the lack of an official Committee report chapter or appendix dedicated exclusively to these matters does not mean our investigation exonerated social media companies for their failure to confront violent rhetoric,” they wrote. “History has taught us what happens when political speech on social media companies is allowed to fester unchecked.”

☆ Nick Clegg led Meta's decision to reinstate Trump to Facebook and Instagram. Here's how the former UK deputy prime minister charmed his way into Mark Zuckerberg's inner circle.
▼ + stars: | 2023-01-26 | by ( Philip Webster | ) www.businessinsider.com time to read: +18 min

Nick Clegg has risen quickly to become one of Mark Zuckerberg's closest confidants at Meta. Clegg, a former UK deputy prime minister, led the decision to reinstate Donald Trump to Facebook. It was updated on February 16, 2022 following the news that Nick Clegg had been promoted to the role of President for Global Affairs. In a challenging economic climate, the Lib Dems and their Conservative coalition partners voted to raise tuition fees. Nick Clegg (left) and Chris Huhne appearing on the BBC's "The Andrew Marr Show" in October 2007.

☆ Nearly $40 billion of startup value later, here's what the members of the Square mafia have been up to since leaving the fintech giant
▼ + stars: | 2023-01-23 | by ( Samantha Stokes | Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

Former Square staffers have gone on to launch startups worth nearly $40 billion cumulatively. Insider tracked 15 members of the "Square mafia" to see what they're up to these days. The "PayPal mafia" was perhaps the most infamous company that spawned the founders of tech giants like YouTube, Yelp, Tesla, and LinkedIn. Facebook and Oracle also have their own mafias of former employees that have produced iconic tech companies like Salesforce, Asana, and GoodRx. Insider tracked 15 ex-Square employees in their current ventures, ranging from launching multibillion-dollar public companies to running high-profile VC firms.

☆ I'm a stay-at-home dad who makes $20,000 a month through YouTube and email marketing. The first year I only made 13 cents — here's how I scaled up.
▼ + stars: | 2023-01-19 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +8 min

In 2017, I started to research how to make money online and teach myself digital marketing because I wanted to make extra money from home while taking care of my boys. I repurpose my videos on YouTube Shorts, Facebook Reels, Instagram Reels, and TikTok, which brings in additional revenue. Video titles that I've seen success with are related to working from home, how to work remotely, and how to make money online. I also just hired someone to start repurposing all my YouTube videos and turn them into 60-second vertical videos for TikTok, Instagram, and Facebook. YouTube, TikTok, and Facebook all work on algorithms, and they need time to learn about your content so they can show it to the right people.

[1/5] The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. Each of America's five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms Inc (META.O) and Amazon.com Inc (AMZN.O) are expected to report the biggest declines. Big tech companies are expected to be among the biggest drags to S&P 500's eleven sectors, with the information technology sector projected to report an earnings decline of 9.5%, according to FactSet data. Analysts expect the company to report a 2.4% rise in revenue, the slowest pace in about 24 quarters.

Trump’s campaign didn’t threaten a lawsuit, as some sources close to Trump thought he would. Trump has slightly more than 4.8 million followers on the platform, compared to nearly 88 million on Twitter and 34 million on Facebook. But Facebook subsequently changed its rules — including a limitation on high-volume advertising — and Trump's campaign protested. Twitter was credited with abetting Trump’s political rise, but his freewheeling style came across as unhinged even to many Republicans who started to oppose his Twitter use. “Moreover, every day that President Trump’s political voice remains silenced furthers an inappropriate interference in the American political and election process.”

☆ Trump campaign has asked Meta to unblock the former president’s Facebook account
▼ + stars: | 2023-01-18 | by ( Kristen Holmes | ) edition.cnn.com time to read: +3 min

New York CNN —Former President Trump’s campaign sent a letter to Facebook’s parent company, Meta, Tuesday petitioning them to unblock his Facebook account, a source familiar with the letter tells CNN. Trump’s Facebook and Twitter accounts were blocked following the January 6, 2021, attack on the US Capitol. Facebook initially said its ban of Trump would be indefinite. A Trump adviser said that reinstating the former president’s Facebook account would make it easier for the campaign to do outreach. Still, this person said, the Trump campaign would leap at the opportunity to resume using his likeness in its Facebook advertisements.

New York/London CNN —Microsoft (MSFT) could announce thousands of job cuts on Wednesday, according to multiple news reports, potentially becoming the latest tech company to cull its workforce as the global economy slows. Sky News, without naming sources, reported the layoffs would affect roughly 5% of the company’s workforce. Facebook (FB) parent Meta also recently announced 11,000 job cuts, the largest in the company’s history. A recent report from outplacement firm Challenger, Gray & Christmas found tech layoffs were up 649% in 2022 compared to the previous year, versus just a 13% uptick in job cuts in the overall economy during the same period. The software company’s Azure cloud computing business drove revenue growth over the three months through September, as sales in its personal computing division decreased slightly.

☆ 18 movies with valuable entrepreneurial lessons: From 'Startup.com' to 'Becoming Warren Buffett'
▼ + stars: | 2023-01-17 | by ( Vikas Jha | ) www.businessinsider.com time to read: +21 min

Takeaway: This movie shows the effect money, greed and power can have on relationships. "The Social Network" (2010)"The Social Network" shows us that business success requires more than just a great idea. "Becoming Warren Buffett" (2017)In this documentary, Warren Buffett reveals his day-to-day, and his two most important investing rules. Takeaway: This movie shows how two young men were pitted against each other, striving to grow in a cut-throat business. I've found myself feeling motivated after watching a great film with lessons I can transpose to my entrepreneurial journey.

REUTERS/Nir EliasSINGAPORE, Jan 15 (Reuters) - Israel's Cognyte Software Ltd (CGNT.O) won a tender to sell intercept spyware to a Myanmar state-backed telecommunications firm a month before the Asian nation's February 2021 military coup, according to documents reviewed by Reuters. Intercept spyware can give authorities the power to listen in on calls, view text messages and web traffic including emails, and track the locations of users without the assistance of telecom and internet firms. MPT uses intercept spyware, a source with direct knowledge of the matter and three people briefed on the issue told Reuters although they did not identify the vendor. Reuters was unable to determine whether the sale of Cognyte intercept technology to MPT was finalised. While intercept spyware is typically described as "dual-use" technology for civilian and defence purposes, Israeli law states that "dual-use" technology is classified as defence equipment.

☆ ChatGPT used by mental health tech app in AI experiment with users
▼ + stars: | 2023-01-14 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +11 min

But for a few thousand people, the mental health support they received wasn’t entirely human. About 4,000 people got responses from Koko at least partly written by AI, Koko co-founder Robert Morris said. Academics, journalists and fellow technologists accused him of acting unethically and tricking people into becoming test subjects without their knowledge or consent when they were in the vulnerable spot of needing mental health support. “There are millions of people online who are struggling for help.”There’s a nationwide shortage of professionals trained to provide mental health support, even as symptoms of anxiety and depression have surged during the coronavirus pandemic. In June, the World Health Organization included informed consent in one of its six “guiding principles” for AI design and use.

You can recover deleted messages from Facebook Messenger by downloading them or checking old email notifications. Once you delete a Facebook message, it's gone for good — at least, from a strict Facebook Messenger perspective. Here are a few methods you can use to recover deleted Facebook messages, as well as back up your messages so you don't lose them in the future:How to recover deleted Facebook messagesHere are five methods that could help you retrieve those messages:Check your archived conversationsIf you archived the messages instead of deleting them, you can easily recover them, as Facebook always keeps your archived chats. Check if your Facebook messages were sent to your emailThis only works if you have all email notifications enabled for your account. Quick tip: If you're using an iOS device, you can't recover your deleted Facebook messages using any file app — however, you can download your messages by backing them up beforehand.

☆ Seattle public schools blame tech giants for social media harm in lawsuit
▼ + stars: | 2023-01-08 | by ( ) www.reuters.com time to read: +3 min

The lawsuit says the companies' actions have been a substantial factor in causing a youth mental health crisis. Students with mental health issues perform worse, causing schools to take steps including training teachers to identify and address such symptoms, hire trained personnel, and create additional resources to warn students about the dangers of social media, the complaint said. In 2021, U.S. lawmakers accused Facebook CEO Mark Zuckerberg of pushing for higher profits at the expense of children's mental health following testimony by whistleblower Frances Haugen. "We make money from ads, and advertisers consistently tell us they don't want their ads next to harmful or angry content. And I don't know any tech company that sets out to build products that make people angry or depressed."

☆ LinkedIn is having a moment thanks to a wave of layoffs
▼ + stars: | 2023-01-08 | by ( Clare Duffy | ) edition.cnn.com time to read: +7 min

Some LinkedIn users affected by recent layoffs have formed groups on the site aimed at providing assistance, coordinating around signing exit paperwork and aiding with connections for new jobs. Suddenly, the normally staid professional network has become both a vital lifeline for recently laid off workers and a surprisingly lively social platform. “There’s been an uptick in [LinkedIn use] since the pandemic,” said Jennifer Grygiel, an associate professor and social media expert at Syracuse University. Layoffs and upheaval in social media industryEven apart from the layoffs, the social media landscape has been through a volatile year. But lately it appears users have more than enough reason to use LinkedIn amid a wave of thousands of layoffs.

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