Zuckerberg
Majority of US consumers say no to Meta owning metaverse data: Survey
A survey of 1,000 United States consumers around growing interest in the metaverse has revealed some interesting results. In a survey commissioned by nonfungible token and metaverse infrastructure provider Advokate Group, 87% of respondents preferred a decentralized metaverse on a blockchain over some of the mega projects planned by tech giants. This became more evident when 77% of the respondents shared concerns over Facebook’s entry into the metaverse, especially since it owns users’ metaverse data. Facebook’s tainted past with mismanagement of private user data has already dismantled its early plans of launching a stablecoin called Diem. The stablecoin project faced heavy scrutiny from the U.S. Congress, and the project eventually came to a crashing end. A similar concern ha...
Zuckerberg’s Diem reportedly weighing sale after stablecoin plans falter
Meta-backed crypto initiative “Diem” is reportedly trying to sell its assets, seemingly calling time on Facebook founder Mark Zuckerberg’s grand ambitions for a stablecoin to act as the internet’s currency. Diem — which was previously known as Libra — is Meta Platform’s cryptocurrency initiative. According to insider sources speaking with Bloomberg, it is considering selling assets to return capital to its investors. The sources said that Diem is in discussions with investment bankers to determine the best way to sell its intellectual property and cash out on whatever value the project has maintained. It’s unclear how the company will be valued, and there is no guarantee that they will be able to find a buyer. According to the source, about a third of the venture is owned by Meta. The rema...
Facebook to test cutting back on political posts in the News Feed
Facebook plans to test how people respond to seeing fewer posts about politics in the News Feed. Starting this week, Facebook will “temporarily reduce” political posts for a “small percentage” of people in Canada, Brazil, and Indonesia, with a test in the US following some weeks later. The tests will continue for the next few months. The experiment comes in response to feedback Facebook has (somehow just now) heard that “people don’t want political content to take over their News Feed,” Aastha Gupta, product management director at Facebook, wrote in a blog post this morning. The goal is to improve the News Feed by “finding a new balance of the content people want to see.” Gupta says that political content only makes up about 6 percent of the typical News Feed right now in the US. Nonethele...
No Major Changes Expected for Facebook’s Policies Amidst Worldwide Boycott
Sourced from BBC. Facebook and its family of apps have been embroiled in a far-reaching ad boycott of its platforms. The boycott, started by civil rights groups in the US, has been joined by hundreds of companies worldwide, including the likes of Unilever, Microsoft and Coca-Cola. The campaign, #StopHateforProfit, calls for Facebook to implement stricter measures to rid hate speech and racism on its platform during a time when the US is embroiled in daily protests against systemic racism and police brutality. New reports indicate that Facebook’s CEO Mark Zuckerberg is not worried by the boycott and has no intention of changing any of Facebook’s policies regarding hate speech or otherwise on its apps. Zuckerberg allegedly says that the boycott is more of a PR issue than one that will harm t...
