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Meta Platforms, Inc. (FB.MX)

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7,006.46-350.06 (-4.76%)
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  • N
    Facebook whistleblower will talk Section 230 reform with Congress this week

    Facebook whistleblower Frances Haugen will testify Wednesday at a House Energy and Commerce technology subcommittee hearing to discuss proposals to a provision that protects tech companies from being held legally responsible for content posted on their sites by third parties.

    It will be Haugen's second time testifying on Capitol Hill, following her debut appearance last month at a Senate Commerce hearing after she leaked documents about internal Facebook research.

    Haugen will testify on a panel alongside Color of Change President Rashad Robinson and Common Sense Media founder and CEO James Steyer, Democrats announced Monday.

    A second panel will feature four other experts in the area: Karen Kornbluh, a senior fellow at the German Marshall Fund of the United States, Carrie Goldberg, owner of C.A. Goldberg Law Firm, Matt Wood, vice president of policy and general counsel at Free Press Action, and Mary Anne Franks, professor at the University of Miami School of Law.

    Wednesday's hearing, focused on Section 230 of the Communications Decency Act, is the first of two the committee has scheduled for December on tech issues.

    The following Thursday, Dec. 9, the consumer protection subcommittee will hold a hearing on proposals focused on proposals to enhance transparency and promote online safety.

    There has been bipartisan criticism of tech giants and an array of proposals to reform Section 230, but little consensus on a way to go forward.

    During last month's Senate hearing, Democrats and Republicans touted Haugen as a credible witness and praised her for coming forward. The Senate hearing largely focused on issues related to children's safety, which has emerged as a rare, unifying issue for lawmakers on both sides of the aisle.

    The Senate is also pushing forward with hearings focused on the widely reported documents leaked by Haugen. Next week the Senate Consumer Protection subcommittee will hold a hearing featuring the head of Instagram Adam Mosseri.
  • K
    Britain directs Facebook to sell GIF maker Giphy

    Britain's competition regulator said on Tuesday it has directed Facebook owner Meta Platforms to sell animated images platform Giphy after finding that the deal could harm social media users and UK advertisers.

    The Competition and Markers Authority (CMA) said the decision was in line with provisional findings that Facebook's acquisition of Giphy would reduce competition between social media platforms and in the display advertising market.

    "The tie-up between Facebook and Giphy has already removed a potential challenger in the display advertising market ...By requiring Facebook to sell Giphy, we are protecting millions of social media users and promoting competition and innovation in digital advertising," said Stuart McIntosh, chair of the independent investigation for the CMA.

    Facebook, now rebranded Meta Platforms as the parent company of the eponymous social media network, said it disagreed with the decision.

    "We are reviewing the decision and considering all options, including appeal," a spokesperson for Meta said.

    The CMA in October fined the company about $70 million for breaching an order that was imposed during its investigation into the deal, having hinted in August that it may need Facebook to sell Giphy.
  • T
    Check out the 5 year return among popular stocks as of today

    TSLA 3,054%  
    AMD 1,756%
    NVDA 1,377%
    AAPL 501%
    MSFT 458%
    AMZN 373%
    GOOG 279%
    NASDAQ 195%
    FB 181% <----------------------
    S&P 500 108%
    DOW 80%
  • T
    UK regulator set to block Meta's Giphy deal

    The Competition and Markets Authority is set to reverse the deal in what would be the first time the watchdog has reversed a Big Tech acquisition, the report said, citing individuals close to the matter.

    The regulator had in October fined the U.S. social media giant Facebook, now Meta, 50.5 million pound ($67.35 million) for breaching an order that was imposed during an investigation into its purchase of the GIF platform, Giphy.

    Facebook bought Giphy, a website for making and sharing animated images, or GIFs, in May last year to integrate it with its photo-sharing app, Instagram. The deal was then pegged at $400 million by Axios.
  • E
    Selling will accelerate the last hour of trade as usual
  • M
    Reason why everyone should have a profitable investment. people need money
  • N
    Australia challenges Facebook to back anti-troll defamation law

    Facebook Inc will show it has no interest in making the online world safe if it quits Australia over laws holding it liable for defamation on its platform, Prime Minister Scott Morrison said on Monday.

    In the latest of several attempts to hold global internet companies to greater account for content on their platforms, Australia plans to make them share the identities of people with anonymous accounts if another person accuses them of defamation.
    If the social media company fails to give that information, it must assume legal liability. The proposed law would also make social media operators legally responsible for defamatory comments beneath publishers' posts on their platforms.

    Asked on TV station Nine News if he was worried Facebook might quit Australia over the new law, Morrison said doing that "would be an admission that they have no interest in making the online world safe".

    It was not free speech "to hide in your basement as a masked troll and abuse and harass and stalk people," Morrison said.

    "If you want to say something, then you should say who you are, and if the social media company lets you do that with a mask on, then we'll hold them to account."
  • R
    European Parliament's IMCO backs limits on tech giants' ability to run tracking ads

    In what looks like bad news for adtech giants like Facebook and Google, MEPs in the European Parliament have voted for tougher restrictions on how internet users' data can be combined for ad targeting purposes -- backing a series of amendments to draft legislation that's set to apply to the most powerful platforms on the web.
    The Internal Market and Consumer Protection Committee (IMCO) today voted overwhelmingly to support beefed-up consent requirements on the use of personal data for ad targeting within the Digital Markets Act (DMA); and for a complete prohibition on the biggest platforms being able to process the personal data of minors for commercial purposes -- such as marketing, profiling or behaviorally targeted ads -- to be added to the draft legislation.

    The original Commission proposal for the DMA was notably weak in the area of surveillance business models -- with the EU's executive targeting the package of measures at other types of digital market abuse, such as self-preferencing and unfair T&Cs for platform developers, which its central competition authority was more familiar with.

    "The text says that a gatekeeper shall, 'for its own commercial purposes, and the placement of third-party advertising in its own services, refrain from combining personal data for the purpose of delivering targeted or micro-targeted advertising', except if there is a 'clear, explicit, renewed, informed consent', in line with the General Data Protection Regulation," IMCO writes in a press release. "In particular, personal data of minors shall not be processed for commercial purposes, such as direct marketing, profiling and behaviourally targeted advertising."
  • R
    Hedge funds will unload FB ahead of Section 230 hearing this week
  • B
    50 Billion buyback.... just beginning.... do the math next 8 yrs will generate $500 billion in earnings. Investing in fastest growing technology. AI, VR, AR, block chain, ..... Founder has created one of most profitable companies in world with 2.8 billion users and 79% profit margins...Moving toward metaverse Web 3.0 will open up brand new Trillion dollar markets.....
  • L
    Australia to launch federal probe into big tech and the 'toxic material' on their platforms

    The federal government's latest crackdown on big tech will see an inquiry be established looking into their impact on the mental health and wellbeing of Australians.

    The federal government will commence a parliamentary inquiry to scrutinise major technology companies and the "toxic material" that resides on their online platforms.
    In the government's latest crackdown on big tech, Prime Minister Scott Morrison said the new inquiry would build on the proposed social media legislation to "unmask trolls" that was announced over the weekend, with an exposure draft of that legislation expected to be released sometime this week.

    "Big tech created these platforms, they have a responsibility to ensure their users are safe," Morrison said. "Big tech has big questions to answer. But we also want to hear from Australians; parents, teachers, athletes, small businesses and more, about their experience, and what needs to change."

    The inquiry will examine the practices of major technology companies and consider evidence relating to the impact social media platforms have on the mental health of Australians.  

    Communications Minister Paul Fletcher, who announced the inquiry alongside Morrison, said the inquiry was also stoked by revelations arising from a Facebook whistleblower in a similar inquiry currently being undertaken in the US.

    "This inquiry will give organisations and individuals an opportunity to air their concerns, and for big tech to account for its own conduct," Fletcher also said.

    Cracking down against big tech has been big on Morrison's agenda as late, with the Prime Minister two months ago saying social media platforms are a "coward's palace" and that they would be viewed as publishers if they are unwilling to identify users that post foul and offensive content.

    "Social media has become a coward's palace where people can just go on there, not say who they are, destroy people's lives, and say the most foul and offensive things to people, and do so with impunity," Morrison said at the time.
  • M
    1) FB is an inflation hedge, massive cash flows, massive cash to invest, no debt
    2) Facebook trades at a discount to the overall market.. and growing at 20-40%
    3) Facebook has the most to gain from the metaverse it’s pioneering and hasn’t seen any gains because of it
  • T
    My calculations show the actual 200 Day Moving Average at about $328... This stock spends very few days below the 200 DMA... It's a screaming buy when it's there... Cash Rich, Low P/E verses any growth company
  • A
    Only $52.33 down from Sept 6th, 2021.
  • M
    $400 this year
  • s
    What fb paid for GIF, 313 million dollars, is approximate to one days revenues for Facebook. Sink your teeth into that. Have some perspective guys. In 2 years fb is a 500 dollar stock. Regardless of what happens in the short term. Relax
  • d
    There is a reason they are showing oculus sales separately in quarterly reports from now on. You are gonna see huge growth in the reality labs sector of business.
  • r
    Facebook Marketplace is the most used site by scammers

    Facebook Marketplace is the most used site by scammers, online researcher NatWest has revealed, with Instagram, eBay and Gumtree making up the top four ahead of Black Friday. 
    Research carried out by the bank has found social networking sites are the most commonly targeted by scammers.

    Facebook's buying and selling site was the most reported for scams in Britain, according to data collected between September 1 and November 22, followed by Instagram.

    The report comes as shoppers are expected to flock online for Black Friday, one of the busiest online shopping times of the year, to take advantage of discounts and sales ahead of Christmas.

    The research found common scams on the social networking sites include paid advertising goods at heavily discounted prices.

    The popular scam involves the seller asking the buyer to pay via a bank transfer prior to the product arriving. 

    Jason Costain, Head of Fraud Prevention at NatWest, said: 'Don’t let fake influencers or sellers steal your Christmas by sending them a payment for presents you will never receive. 

    'It is the fraudsters' favourite time of year, so make sure you're on your guard when buying goods you’ve seen on sites like Facebook Marketplace and Instagram.'
    More than 1,000 scams were reported on Facebook Marketplace over the period between September 1 and November 2, while a further 391 made complaints about Instagram. Facebook has declined to comment on scam activities.
  • M
    will this drop tomorrow again due to the whistleblower?
  • B
    If you fail to see the value meta brings to the world, then you surely don’t deserve to own the stock at this value price. Meta is revolutionizing the way we communicate, advertise, play games, and so much more.

    Don’t think for one second Zuck and his billionaire buddies aren’t 10 steps ahead of not only the competition but 10 stores ahead of this whistleblower. As a previous comment quoted the late George Carlin. “It’s one giant club and you ain’t in it”.