Column: Meta and Twitter show the drawbacks of giving self-satisfied billionaires too much power
2 years, 1 month ago

Column: Meta and Twitter show the drawbacks of giving self-satisfied billionaires too much power

LA Times  

Meta CEO Mark Zuckerberg announces the new name for his company, formerly Facebook, in October 2021. Back in the prehistoric era — in 2012, when Facebook staged one of the most hyped initial public stock offerings of all time — I warned the company’s newly minted shareholders that they had become wedded to Mark Zuckerberg. The stock reached its all-time high closing price, $382.18 on Sept. 7, 2021, a few weeks before Zuckerberg announced he was renaming Facebook as Meta Platforms, signifying a vague redirection of the company into virtual space that Zuckerberg himself couldn’t describe intelligibly. Business Facebook shareholders are wedded to the whims of Mark Zuckerberg Facebook shareholders are wedded to the whims of Mark Zuckerberg “There’s a lot of ambiguity around what the metaverse means,” Zuckerberg acknowledged on Ben Thompson’s “Stratechery” podcast at that time. Even if every one of the estimated 400,000 verified users paid $8 monthly to keep their putative status, that would produce only about $38 million a year, not a patch on the estimated $1 billion in annual interest expense the company has incurred because of Musk’s takeover, or the losses the company has recorded in recent years, which came to $272 million last year.

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History of this topic

Meta donates $1 million to Trump's inauguration fund
Top News
1 week, 3 days ago

Meta donates $1 million to Trump's inauguration fund

Deccan Chronicle  

Meta donates $1 million to Trump's inauguration fund Meta, the parent company of Facebook and Instagram, said it has donated $1 million to President-elect Donald Trump's inauguration fund. Stephen Miller, who has been appointed deputy chief of staff for Trump’s second term, has said that Zuckerberg, like other business leaders, wants to support Trump’s economic plans. Google donated $285,000 each …

Meta donates $1 million to Trump’s inauguration fund
Top News
1 week, 4 days ago

Meta donates $1 million to Trump’s inauguration fund

Associated Press  

NEW YORK — Meta, the parent company of Facebook and Instagram, said it has donated $1 million to President-elect Donald Trump’s inauguration fund. Stephen Miller, who has been appointed deputy chief of staff for Trump’s second term, has said that Zuckerberg, like other business leaders, wants to support Trump’s economic plans. Google donated $285,000 each to Trump first inaugural and …

Mark Zuckerberg’s Meta donates $1 million to Trump’s inaugural fund
1 week, 4 days ago

Mark Zuckerberg’s Meta donates $1 million to Trump’s inaugural fund

Live Mint  

Meta Platforms has donated $1 million to president-elect Donald Trump’s inaugural fund, the latest step by CEO Mark Zuckerberg to bolster his once-fraught relationship with the incoming president. Zuckerberg and his advisers met with Sen. Marco Rubio, Trump’s nominee for secretary of state, as well as with three senior incoming White House advisers: Stephen Miller, Vince Haley and James Blair. …

Mark Zuckerberg's Meta donates $1 million to Donald Trump’s inaugural fund: Report
1 week, 4 days ago

Mark Zuckerberg's Meta donates $1 million to Donald Trump’s inaugural fund: Report

Hindustan Times  

Mark Zuckerberg's Meta has donated $1 million to President-elect Donald Trump’s inaugural fund, CNN reported, citing confirmation from the company. US President Trump late Thursday posted a picture on Facebook and Twitter showing him shaking hands with Facebook CEO Mark Zuckerberg, but didn’t share details of their conversation on Wednesday. Zuckerberg-Trump relations Mark Zuckerberg and Donald Trump have had a …

Meta donates $1 million to Trump’s inaugural fund in latest step to mend relationship
1 week, 6 days ago

Meta donates $1 million to Trump’s inaugural fund in latest step to mend relationship

CNN  

New York CNN — Meta has donated $1 million to President-elect Donald Trump’s inaugural fund, the company confirmed to CNN. In an interview over the summer, the Facebook founder said Trump’s reaction to a July assassination attempt was “badass.” “Seeing Donald Trump get up after getting shot in the face and pump his fist in the air with the American …

Meta CEO Zuckerberg dines with Trump after years of turbulent ties with US president-elect
3 weeks, 5 days ago

Meta CEO Zuckerberg dines with Trump after years of turbulent ties with US president-elect

New Indian Express  

FORT LAUDERDAL: Donald Trump dined on Wednesday with Meta CEO Mark Zuckerberg at the president-elect's Mar-a-Lago club in Florida, bringing together the Facebook founder and the former president who was once banned from that social network. Stephen Miller, who has been appointed deputy chief of staff for Trump's second term, said Zuckerberg, like other business leaders, wants to support Trump's …

End of enmity? Trump, Mark Zuckerberg dine at US President-elect's resort
3 weeks, 5 days ago

End of enmity? Trump, Mark Zuckerberg dine at US President-elect's resort

India Today  

Donald Trump dined on Wednesday with Meta CEO Mark Zuckerberg at the President-elect's Mar-a-Lago club in Florida, bringing together the Facebook founder and the former President who was once banned from that social network. Stephen Miller, who has been appointed deputy chief of staff for Trump's second term, said Zuckerberg, like other business leaders, wants to support Trump's economic plans. …

Zuckerberg dines with Trump in Mar-a-Lago
Top News
3 weeks, 5 days ago

Zuckerberg dines with Trump in Mar-a-Lago

NPR  

Zuckerberg dines with Trump in Mar-a-Lago toggle caption Godofredo A. Vásquez/AP FORT LAUDERDALE, Fla. — Donald Trump dined on Wednesday with Meta CEO Mark Zuckerberg at the president-elect's Mar-a-Lago club in Florida, bringing together the Facebook founder and the former president who was once banned from that social network. Stephen Miller, who has been appointed deputy chief of staff for …

Why Mark Zuckerberg's style transformation worked.
1 month, 3 weeks ago

Why Mark Zuckerberg's style transformation worked.

Slate  

Mark Zuckerberg looks different. But if you’ve seen any images of Zuckerberg in the past year, you’ll know it’s not anomalous: At a funky-fresh 40 years young, the former boy-wonder has embraced a style transformation and vibe makeover. A digitally rendered avatar of Zuckerberg appeared in Meta’s new world, donning a buzz cut and long-sleeved henley t-shirt—a look that could …

Mark Zuckerberg Is Cozying Up to the Right. The Reason Why Is Gross.
1 month, 3 weeks ago

Mark Zuckerberg Is Cozying Up to the Right. The Reason Why Is Gross.

Slate  

Just in case you ever believed that Mark Zuckerberg came to understand the gravity of his role as the head of a Big Tech megaconglomerate whose apps serve as essential communication infrastructure for almost half of the world, he’s now doing everything he can to disabuse you of that generous notion. It’s also something about the way he and his …

Meta CEO Zuckerberg says U.S. pressure on Covid-19 posts was 'wrong'
3 months, 3 weeks ago

Meta CEO Zuckerberg says U.S. pressure on Covid-19 posts was 'wrong'

Raw Story  

Meta CEO Mark Zuckerberg believes U.S. government pressure on his social media platforms to take down certain Covid-19 content in 2021 was "wrong," and said he would resist similar attempts in the future, according to a letter submitted to a US congressional committee. Regarding the pandemic, the Facebook founder said the Biden administration had in 2021 "repeatedly pressured our teams …

Meta CEO Mark Zuckerberg says U.S. pressure on Covid-19 posts was 'wrong'
3 months, 3 weeks ago

Meta CEO Mark Zuckerberg says U.S. pressure on Covid-19 posts was 'wrong'

The Hindu  

Meta CEO Mark Zuckerberg believes U.S. government pressure on his social media platforms to take down certain Covid-19 content in 2021 was "wrong," and said he would resist similar attempts in the future, according to a letter submitted to a US congressional committee. Regarding the pandemic, the Facebook founder said the Biden administration had in 2021 "repeatedly pressured our teams …

Meta CEO Mark Zuckerberg believes having hobbies and free time makes going back to work easier
4 months, 2 weeks ago

Meta CEO Mark Zuckerberg believes having hobbies and free time makes going back to work easier

India Today  

We're seeing a new side of Mark Zuckerberg, or we can call it Zuckerberg 2.0. In a recent interview with Bloomberg, Zuckerberg revealed that lately, he's been enjoying a lot of activities in his free time, including farming cattle, practising jiu-jitsu, and wakesurfing. While Zuckerberg is sharing a sneak peek into his rich billionaire life and navigating a personal transformation, …

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours
4 months, 3 weeks ago

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours

Associated Press  

SAN FRANCISCO — Investments in artificial intelligence will account for a significant increase in Facebook parent company Meta’s expenses in the coming year, but stronger-than-expected revenue from its advertising business was enough to reassure investors that its business is on the right track. “And unlike Google, which is grappling with making changes that will impact its core ad business, most …

Mark Zuckerberg praises Donald Trump's 'badass' response to assassination attempt
5 months ago

Mark Zuckerberg praises Donald Trump's 'badass' response to assassination attempt

India TV News  

Washington: Meta CEO Mark Zuckerberg has heaped praises on former US President and Republican presidential candidate for this year's election, Donald Trump, for the latter's response to the recent assassination attempt, calling it "one of the most badass things I've ever seen in my life." The entrepreneur declined to endorse any presidential candidate and said he would not play a …

Elon Musk says Mark Zuckerberg's Meta is being 'super greedy' because…
7 months, 1 week ago

Elon Musk says Mark Zuckerberg's Meta is being 'super greedy' because…

Hindustan Times  

Tesla and SpaceX CEO Elon Musk openly criticised Mark Zuckerberg's Meta, formerly known as Facebook, for being excessively “greedy”. Meta CEO Mark Zuckerberg, left, and Tesla and SpaceX CEO Elon Musk are seen. Another follower of Elon Musk also said that Meta would eventually need to revise its attribution model to provide advertisers with more accurate data. This comes amid …

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day
7 months, 4 weeks ago

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day

Daily Mail  

Meta shares crashed in after-hours trading Wednesday after the company warned profits will slip over the summer. Meta says it will see second quarter revenue between $36.5 and $39 billion. Shares were also hit after Meta said it expects overall expenses this year to be higher than it previously forecast - as the Facebook parent spends heavily to roll out …

Mark Zuckerberg loses USD 3 billion after Meta outage: Shocking details here
9 months, 2 weeks ago

Mark Zuckerberg loses USD 3 billion after Meta outage: Shocking details here

India TV News  

Mark Zuckerberg, the CEO of Meta experienced a substantial loss of around USD 3 billion in a single day after the global outage surfaced and affected the company's flagship platforms- Facebook and Instagram. The outage resulted in a 1.6 per cent decrease in Meta’s share, contributing to the breakage of Mark Zuckerberg's net worth. Global outage impact on Meta Users …

Hypocrisy alert: Senators who scorched Mark Zuckerberg love Meta money
10 months, 2 weeks ago

Hypocrisy alert: Senators who scorched Mark Zuckerberg love Meta money

Raw Story  

Last week, senators put the CEOs of five social media giants each in the hot seat over accusations of their platforms’ negligence toward the sexual exploitation and online safety of children. Yet, Graham, Durbin, Lee and Tillis are among more than a dozen senators who grilled Zuckerberg and his tech peers but also took donations from Meta’s political action committee, …

Facebook's first dividend stands to make a few very rich
10 months, 2 weeks ago

Facebook's first dividend stands to make a few very rich

BBC  

Facebook's first dividend stands to make a few very rich Getty Images After apologising at the US Senate online child safety hearing, Meta CEO Mark Zuckerberg announced Facebook's first dividend – a move that stands to make shareholders rich. Otherwise, these firms may lose investment dollars to companies like Facebook that offer one.” – John Pham, The Money Ninja What’s …

Mark Zuckerberg's love for cage matches a major risk for Meta, say concerned investors
10 months, 2 weeks ago

Mark Zuckerberg's love for cage matches a major risk for Meta, say concerned investors

Hindustan Times  

Meta has been in the news over the past week due to its massive surge in share price after stellar quarterly reports. However, the investors of the company are now concerned over CEO Mark Zuckerberg's extracurricular activities, more specifically, his love for cage matches. Meta's CEO and Facebook founder Mark Zuckerberg Mark Zuckerberg has expressed his interest and participated in …

‘Sorry for everything…’: Meta boss Zuckerberg made to apologise to parents. Here's why
10 months, 3 weeks ago

‘Sorry for everything…’: Meta boss Zuckerberg made to apologise to parents. Here's why

Hindustan Times  

Meta's CEO Mark Zuckerberg on Wednesday was made to apologise to parents during his testimony in the US Senate, where concerns about the exploitation of children on social media took centre stage. The CEOs of Meta, TikTok, and other social media companies testified before the Senate Judiciary Committee, addressing the rising concerns among lawmakers and parents about the impact of …

Zuckerberg announces $50bn payout for Meta shareholders amid child safety concerns
10 months, 3 weeks ago

Zuckerberg announces $50bn payout for Meta shareholders amid child safety concerns

The Telegraph  

Mark Zuckerberg’s Meta will pay up to $50bn to shareholders after it posted record revenues, sending profits soaring by 200pc. Quarterly profits climbed threefold to $14bn as Meta’s advertising sales staged a marked recovery after it implemented sweeping layoffs last year in a drastic effort to cut costs. Mr Zuckerberg also announced the social network giant, which turns 20 this …

Meta’s Sheryl Sandberg to exit board after 12 years
11 months ago

Meta’s Sheryl Sandberg to exit board after 12 years

The Hindu  

Meta’s former chief operating officer, Sheryl Sandberg, announced that she is leaving the company’s board after more than a decade. One of the most influential women in Silicon Valley, Sandberg, 54, will depart the board as the tech juggernaut behind Facebook, WhatsApp and Instagram faces increased regulatory scrutiny. “With a heart filled with gratitude and a mind filled with memories, …

Meta’s Sheryl Sandberg to exit board after 12 years
11 months ago

Meta’s Sheryl Sandberg to exit board after 12 years

Live Mint  

Meta Platforms' former chief operating officer Sheryl Sandberg plans to step down from her position on the company's board of directors after her term ends in May, she said in a Facebook post on Wednesday. "Meta business is strong and well-positioned for the future, so this feels like the right time to step away," Sandberg said in the post, adding …

Zuckerberg: King of the Metaverse, review: how Facebook changed (then ruined) the world
11 months, 1 week ago

Zuckerberg: King of the Metaverse, review: how Facebook changed (then ruined) the world

The Telegraph  

Remember when Facebook seemed harmless? In Zuckerberg: King of the Metaverse, one former executive put it this way: “When I first joined, movies were being made; the founder was on the cover of Time magazine; you’re overthrowing dictators. Now, you’re being told you destroyed democracy.” The film traced Facebook from Zuckerberg’s invention to world domination and scandals involving data harvesting, …

Meta CEO Mark Zuckerberg repeatedly shut down calls from execs to improve teen safety on Facebook and Instagram and to shut down 'beauty filters,' court documents claim
1 year, 1 month ago

Meta CEO Mark Zuckerberg repeatedly shut down calls from execs to improve teen safety on Facebook and Instagram and to shut down 'beauty filters,' court documents claim

Daily Mail  

META CEO Mark Zuckerberg personally shut down calls to improve teen wellbeing on Facebook and Instagram, bombshell court documents claim. Meta CEO Mark Zuckerberg allegedly blocked calls to improve teen well-being on the app The lawsuit filed last month in Massachusetts state court alleges that Meta - and Zuckerberg - have 'relentlessly prioritized targeting these young users and has tailored …

‘Meta’s Deception’ about Instagram’s harmful qualities alleged in Massachusetts suit
1 year, 1 month ago

‘Meta’s Deception’ about Instagram’s harmful qualities alleged in Massachusetts suit

Live Mint  

Meta Platforms Chief Executive Mark Zuckerberg repeatedly dismissed warnings from senior company officials that its flagship social-media platforms were harming young users, according to unsealed allegations in a lawsuit filed by Massachusetts. “The complaint is filled with selective quotes from hand-picked documents that do not provide the full context of how the company operates or what decisions were made.” The …

Elon Musk takes a jab at Mark Zuckerberg: Says Instagram ’pretty much’ OnlyFans
1 year, 1 month ago

Elon Musk takes a jab at Mark Zuckerberg: Says Instagram ’pretty much’ OnlyFans

Live Mint  

Elon Musk has taken another swipe at Mark Zuckerberg's Instagram. Long time back-and-forth X owner Musk's beef with Zuckerberg's social media sites is well documented but especially came to a head when the latter announced a new site ‘Threads’ as a counter to Twitter for users looking to skip paid services and chasing the ‘old Twitter’ vibes. The app garnered …

Elon Musk offers 1 billion dollars to Mark Zuckerberg for changing the name of Facebook
1 year, 1 month ago

Elon Musk offers 1 billion dollars to Mark Zuckerberg for changing the name of Facebook

India TV News  

Elon Musk, who is known as a business magnate and investor is once again talking about Facebook. The billionaire owner of Tesla, SpaceX and X stated this in response to the post by a parody news site named BabylonBee, which quoted Musk offering 1 billion USD to Zuckerberg to change the social media platform’s name. As per the report of …

Meta reports “good” quarter after revenue growth, launch of Threads and AI products
1 year, 1 month ago

Meta reports “good” quarter after revenue growth, launch of Threads and AI products

The Hindu  

Meta CEO Mark Zuckerberg noted a “good quarter” for the company’s community and business as the social media giant reported revenue growth of 23% year-over-year to reach $34.15 billion. Zuckerberg earlier announced that 2023 would be Meta’s year of “efficiency” and the company proceeded to lay off hundreds of workers across its tech and business divisions. “I’m proud of the …

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue
1 year, 1 month ago

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue

Associated Press  

Facebook parent Meta on Wednesday posted sharply higher earnings for the third quarter, boosted by an increase in advertising revenue and lower expenses after it laid off thousands of workers. “With its sustained upward trajectory, robust user engagement, and strategic cost optimizations, Meta is not only navigating choppy waters but also setting the course for uncharted territories of growth.” Meta, …

Elon Musk reacts to viral AI-generated pics with Mark Zuckerberg amid ‘cage match’ chatter
1 year, 5 months ago

Elon Musk reacts to viral AI-generated pics with Mark Zuckerberg amid ‘cage match’ chatter

Hindustan Times  

Amid a simmering rivalry between Elon Musk and Mark Zuckerberg, a Twitter handle shared a bunch of pictures of the duo created using artificial intelligence. The two tech titans, who have been sparring on social media ever since Zuckerberg introduced Threads as a challenger to Twitter, are seen holding hands and donning casual attires. Another user said that the post …

Unlikely saviour: Elon Musk's antics give Mark Zuckerberg PR makeover
1 year, 5 months ago

Unlikely saviour: Elon Musk's antics give Mark Zuckerberg PR makeover

The Hindu  

After years of bad press and scandal, Mark Zuckerberg is seeing his reputation spruced up in the fickle world of tech, largely thanks to the increasingly unpredictable behavior of Elon Musk. "It's definitely unique to see two people, who obviously are just ungodly wealthy, be in this kind of grudge match," said Andrew Selepak, assistant media professor at the University …

Old Chat of Mark Zuckerberg Calling Facebook Users 'Dumb' Resurfaces, Elon Musk Reacts
1 year, 5 months ago

Old Chat of Mark Zuckerberg Calling Facebook Users 'Dumb' Resurfaces, Elon Musk Reacts

News 18  

Despite the impressive launch of Meta’s ‘Threads’ app, CEO Mark Zuckerberg continues to face public scrutiny regarding privacy concerns that have long troubled users of Facebook, Instagram, and WhatsApp. Dumb f****.” Mark Zuckerberg talking about Facebook users pic.twitter.com/NhWDh7t50S— Andrew July 6, 2023 The tweet quickly went viral, attracting various reactions. !— Elon Musk July 6, 2023 “One of the many …

Musk vs Mark: As world awaits the cage fight, the build up explodes as Twitter Killer trends
1 year, 5 months ago

Musk vs Mark: As world awaits the cage fight, the build up explodes as Twitter Killer trends

Hindustan Times  

The beef between two of the biggest tech billionaires in the game, Elon Musk and Mark Zuckerberg, is for real and has been going on for quite some time now, but right now it all just seems personal. Elon Musk vs. Mark Zuckerberg American computer programmer who was the cofounder and CEO of Facebook, the world's largest social networking site, …

Twitter threatens to sue Meta over Threads: Report
1 year, 5 months ago

Twitter threatens to sue Meta over Threads: Report

The Hindu  

Twitter has threatened to sue Meta Platforms over its new Threads platform, Semafor reported on July 6, citing a letter sent to the Facebook parent's CEO Mark Zuckerberg by Twitter's lawyer Alex Spiro. Meta which launched Threads on July 5 and has logged more than 30 million sign-ups, looks to take on Elon Musk's Twitter by taking advantage of Instagram's …

Musk threatens to sue Zuckerberg over Twitter rival Threads
1 year, 5 months ago

Musk threatens to sue Zuckerberg over Twitter rival Threads

The Telegraph  

Elon Musk has threatened to sue Meta as more than 30 million users signed up for Mark Zuckerberg’s rival app Threads. Twitter has sent a letter to Mr Zuckerberg accusing Meta of hiring “dozens” of former Twitter employees and assigning them to develop its “copycat” Threads app. In the letter published on Threads by Semafor, Mr Musk’s lawyer Alex Spiro …

Facebook’s Meta launches ‘Twitter killer’ social network Threads
1 year, 5 months ago

Facebook’s Meta launches ‘Twitter killer’ social network Threads

Al Jazeera  

Mark Zuckerberg launches Twitter rival in bid to capitalise on turmoil at Twitter under Elon Musk. Instagram owner Meta has launched its new social media network Threads, aiming to capitalise on the turmoil at Twitter under billionaire owner Elon Musk. Zuckerberg’s launch of the platform dubbed a “Twitter killer” by some tech analysts is seen as a direct challenge to …

Facebook Owner Meta Slashes Business Workforce In Final Round Of Layoffs
1 year, 6 months ago

Facebook Owner Meta Slashes Business Workforce In Final Round Of Layoffs

ABP News  

Owner of Facebook, Meta Platforms Inc, cut jobs across its business and operations units on Wednesday, reported by news agency Reuters. Earlier this year, Meta became the first Big Tech firm to announce a second round of mass layoffs, after showing more than 11,000 employees the door in the fall. Mark Zuckerberg, CEO, Meta Inc, in March had said the …

Facebook owner Meta starts final round of layoffs
1 year, 6 months ago

Facebook owner Meta starts final round of layoffs

The Hindu  

Meta Platforms Inc. carried out the last batch of a three-part round of layoffs on Wednesday, according to a person familiar with the matter, as part of a plan announced in March to eliminate 10,000 roles. Meta earlier this year became the first Big Tech company to announce a second round of mass layoffs, after showing more than 11,000 employees …

Facebook owner Meta starts final round of layoffs
1 year, 6 months ago

Facebook owner Meta starts final round of layoffs

Live Mint  

Meta Platforms Inc on Wednesday started a fresh round of layoffs, as part of its plan to cut 10,000 jobs across all its platforms- WhatsApp, Instagram, and Facebook. In March, Mark Zuckerberg, the Chief Executive of Meta, stated that the majority of the company's layoffs in the second round would occur in three distinct phases spanning several months, with the …

The “remarkable shift” in Mark Zuckerberg’s leadership of Meta.
54 years, 11 months ago

The “remarkable shift” in Mark Zuckerberg’s leadership of Meta.

Slate  

In March, Meta CEO Mark Zuckerberg held a town hall meeting where employees could ask him about the future of the company. On Sunday’s episode of What Next: TBD, I spoke with Nix about Meta’s growing pains—and whether the company will be able to regain its footing amid layoffs, competition from TikTok, and a somewhat baffling bet on the Metaverse. …

Meta CEO Mark Zuckerberg's net worth surges over $10 billion after strong results, 2 layoff rounds
1 year, 7 months ago

Meta CEO Mark Zuckerberg's net worth surges over $10 billion after strong results, 2 layoff rounds

India TV News  

Meta founder and CEO Mark Zuckerberg's net worth surged by $10.2 billion after the company posted strong quarterly results, leading to its shares rising by nearly 14 per cent, as the company announced two rounds of layoffs impacting 21,000 employees in recent months. Meta posted revenue of $28.65 billion, an increase of 3 per cent year-over-year and beating Wall Street …

Facebook parent Meta posts solid 1Q results, stock soars
1 year, 7 months ago

Facebook parent Meta posts solid 1Q results, stock soars

Associated Press  

Facebook parent company Meta’s first-quarter results surpassed Wall Street’s modest expectations on both profit and revenue, sending its stock soaring in after-hours trading. “We’re also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision.” Meta Platforms Inc. said Wednesday it earned $5.71 billion, or $2.20 per …

Boost for Mark Zuckerberg as Facebook-owner Meta breaks year-long slump
1 year, 7 months ago

Boost for Mark Zuckerberg as Facebook-owner Meta breaks year-long slump

The Telegraph  

Shares in Facebook’s parent company Meta soared last night as it broke a losing streak to post its first rise in sales in a year. However, profits fell by 24pc and the company revealed a big drop in sales at its virtual reality division, showing that Mark Zuckerberg’s expensive bet on the metaverse is stuttering. The company’s overall revenue rise, …

A 2nd wave of layoffs at Meta; 10,000 jobs are cut
1 year, 9 months ago

A 2nd wave of layoffs at Meta; 10,000 jobs are cut

Associated Press  

Facebook parent Meta is slashing 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts, as uncertainly about the global economy hits the technology sector particularly hard. The Menlo Park, company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups …

Meta layoffs: Facebook to cut 10,000 more employees, Mark Zuckerberg says
1 year, 9 months ago

Meta layoffs: Facebook to cut 10,000 more employees, Mark Zuckerberg says

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Zuckerberg said the layoffs were part of a “restructuring” and Meta’s “year of efficiency”. “It will …

Why Zuckerberg's Meta has undertaken second round of layoffs slashing 10k jobs?
1 year, 9 months ago

Why Zuckerberg's Meta has undertaken second round of layoffs slashing 10k jobs?

Hindustan Times  

Meta Platforms Inc. plans to lay off around 10,000 employees and close about 5,000 additional open roles in its second major round of job cuts in the past six months. As part of those efforts, Meta is flattening the organization, canceling lower priority projects and slowing hiring, Chief Executive Officer Mark Zuckerberg said in a statement on Tuesday. But Zuckerberg …

Facebook parent Meta to cut 10,000 jobs: Report
1 year, 9 months ago

Facebook parent Meta to cut 10,000 jobs: Report

Hindustan Times  

Mark Zuckerberg's Meta has decided to undertake another mass-layoffs downsizing its workforce by 10,000 employees. Meta In an email to employees on Tuesday, Meta CEO Zuckerberg stated that the company will conduct multiple rounds of job cuts in the coming months, as well as cancel some projects and reduce hiring rates, a report from The Wall Street Journal said. Notably, …

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