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Serving younger people will be the new “north star” on Facebook, CEO Mark Zuckerberg announced after the social media company forecast disappointing sales growth this quarter.
Zuckerberg said the new focus on younger users will come at the expense of older ones as he admitted competition is getting “fiercer,” citing Apple and TikTok’s iMessage service.
Reels, a clone of the short-form video format popularized by TikTok, will become more important to the Facebook user experience starting next year, Zuckerberg said.
The new focus on younger users comes after leaked internal documents showed that Facebook found its appeal to the under-30s in the United States declined. Instagram, the popular social media site bought by Facebook in 2012, is nearing peak growth, the study shows.
But the decision to put younger users at the center of Facebook’s growth strategy will sound the alarm to activists and lawmakers after it was recently revealed that the social media group did not control the distribution of harmful content to young people.
Whistleblower and former Facebook employee Frances Haugen recently told Senators that the company had been covering up research it had conducted into the effects of its services on children in particular, exposing them to round-the-clock bullying and content that had a negative mental impact Users’ health.
Zuckerberg said yesterday that the Haugen leaks and recent press coverage were “a coordinated effort” to paint a “wrong picture of the company”.
The revenue came on another difficult day for Facebook when thousands of new documents leaked to the public and Haugen appeared before UK lawmakers to reiterate her allegations about the company.
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Facebook botched its efforts to contain the explosion of hate speech prior to the attack on the Capitol
Facebook is facing growth issues as the number of young users in the US declines
Facebook’s demons will follow him into the metaverse
Do you think Facebook is a danger to young people? Email me your views at email@example.com. Thank you for reading FirstFT Americas, and here is the rest of the news for today – Gordon
Five more stories on the news
1. Tesla surpasses market value of over $ 1 billion Tesla becomes the first automaker valued at $ 1 trillion after car rental company Hertz announced it had ordered 100,000 Tesla Model 3 sedans to electrify its fleet. Tesla shares closed 12.6 percent higher at $ 1,024, which means a gain of over 40 percent since the beginning of the year.
2. Amazon signs agreements with UK spy agencies The UK’s three espionage agencies hired AWS, Amazon’s cloud computing arm, to host classified information to encourage the use of data analytics and artificial intelligence in the UK’s intelligence community.
3. Biden fights to save the climate agenda The US President will travel to the UN climate summit in Scotland – after the G20 meeting in Rome this weekend – and ask himself whether he can implement a meaningful change in climate policy in the world’s largest economy.
4. Japanese princess marries “ordinary” husband Princess Mako, the niece of the Japanese emperor, married her college sweetheart and told a skeptical public that after years of criticism of her husband choice, the union was critical of the couple’s mental health and “necessary for our survival.”
5. Afghanistan’s decades of conflict are not over yet With US troops withdrawn, the Taliban are now facing a deadly uprising in the rival Islamic State province of Khorasan, an Isis-inspired jihad movement that has deep ideological differences with Afghanistan’s new Islamist rulers.
International travelers who have received a World Health Organization-approved vaccine are allowed to US from 8.11.
Coronavirus infections are increasing again across the board Europe as governments rush to introduce booster vaccinations and step up anti-Covid-19 measures.
A top-level investigation jointly convened by the World health organization and World bank, concluded that the world was still “pitifully unprepared” for a new health emergency.
the BioNTech / Pfizer and Oxford / AstraZeneca Coronavirus vaccines are linked to seven rare neurological complications, according to the most comprehensive study of the side effects of the two vaccinations.
The day ahead
Big Tech Revenue Another big day for Big Tech, Alphabet, Microsoft, and Twitter are all reporting profits. Executives from YouTube, TikTok and Snapchat will also raise questions from a Senate subcommittee looking into the harmful effects of social media on young people.
Vaccination recommendation for children Advisors to the US Food and Drug Administration meet today to review data on the use of Pfizer and BioNTech vaccines in younger children.
What else we read
The dangerous private capital party The rapid boom in the private markets is one of the biggest trends in the global money management industry. This will leave many investors bitterly disappointed and could ultimately lead to bigger, long-term economic problems, writes Robin Wigglesworth.
Not all green jobs are safe and clean In a decarbonising global economy, metals could be the new oil. However, mining of copper, nickel, cobalt and lithium can create dangerous conditions and child labor. Regulators need to recognize that some work related to greening the economy is dirty, dangerous, and in need of reform, argues Sarah O’Connor.
Israel breaks out of its global isolation A technology boom and geopolitical changes are helping the Jewish state to broaden its horizons, writes Gideon Rachman. The mood of optimism among politicians and the economy in the country is noticeable, he says.
Living in China’s high-tech penal colony Darren Byler’s field study of Xinjiang is reminiscent of the shadows of concentration camps – with the added cruelty of a 21st century surveillance system. In his book In the camps, the anthropologist argues that the system is of at least an extent and degree of cruelty beyond any obvious contemporary parallels.
EY and Wirecard: Anatomy of a Faulty Exam First-hand testimony paints a picture of missed opportunities to uncover the fraud and lack of understanding by a company that audited EY for a decade.
Whether you want to stomp on the sidewalk or carve the breaks, here is the latest in sports gear for action adventure.
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