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US prepares to challenge Meta's social media dominance

Economic Times

Economic Times · 4m ago

US prepares to challenge Meta's social media dominance

The U.S. is challenging Meta's dominance in social media with a landmark antitrust case, beginning in Washington, D.C. The Federal Trade Commission argues that Meta illegally maintained its monopoly by acquiring competitors like Instagram and WhatsApp. A multi-week trial could reshape antitrust laws and affect tech mergers. While Meta claims ample competition, the outcome may set a precedent for future antitrust actions, impacting tech giants' acquisitions and market control in the U.S.

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The 2006 Zuckerberg quote at the center of Meta's antitrust trial

Economic Times

Economic Times · 3m ago

The 2006 Zuckerberg quote at the center of Meta's antitrust trial

In the landmark antitrust trial against Meta, formerly Facebook, a pivotal question is whether social media is about real connections or broader interactions. The trial challenges Meta's dominance, scrutinizing its acquisitions of Instagram and WhatsApp for stifling competition. While Meta argues they compete with all social media, the FTC asserts it's only platforms connecting friends. Defining Meta's place in the social media landscape will significantly impact future tech market dynamics and antitrust enforcement.

Chinese state-linked accounts hyped DeepSeek AI launch ahead of US stock rout: report

Economic Times

Economic Times · 6m ago

Chinese state-linked accounts hyped DeepSeek AI launch ahead of US stock rout: report

Chinese state-linked social media accounts amplified the launch of DeepSeek's AI models, shortly before US tech stocks fell, reports Graphika. Chinese diplomats and state media promoted this event, suggesting it challenged US AI dominance. Platforms like X, Facebook, Instagram, Toutiao, and Weibo spread the narrative. This mobilization highlights China's competition with the US in advanced AI technologies. DeepSeek's AI assistant surpassed ChatGPT's downloads, impacting US tech stocks and raising concerns about potential tech disputes.

European project Eurosky aims to reduce reliance on US tech giants - The Economic Times

Economic Times

Economic Times · 1m ago

European project Eurosky aims to reduce reliance on US tech giants - The Economic Times

The Eurosky initiative, backed by four European governments, aims to create a decentralized moderation platform to reduce reliance on US tech giants like Meta's Facebook. Spurred by polling data showing strong European demand for local social media, Eurosky intends to offer a non-profit moderation service for social platforms. The project emphasizes digital sovereignty and addresses content moderation barriers. Recent shifts from US-based to European tech providers reflect concerns over digital control and sovereignty.

Australia frets over Meta halt to US fact-checking

Economic Times

Economic Times · 7m ago

Australia frets over Meta halt to US fact-checking

Australia is concerned over Meta's decision to end US fact-checking on Facebook and Instagram, fearing increased misinformation. Treasurer Jim Chalmers highlighted the danger to democracy and public mental health. Meta plans to replace fact-checkers with community posts, starting in the U.S. Australia's efforts to curb misinformation include investing in reliable news and implementing social media restrictions. However, Australia's local fact-checking contract remains unaffected by Meta's U.S. change.

Meta's Threads App Unveils New Features Including Liked Posts Viewer and Media Upload Quality

Startup News FYI

Startup News FYI · 2y ago

Meta's Threads App Unveils New Features Including Liked Posts Viewer and Media Upload Quality

Meta's Threads app has introduced new features, including a "Liked Posts" viewer and improved media upload quality. The app, which is part of Meta's suite of social media platforms, aims to enhance the user experience by offering these enhancements. The updates come as Meta continues to develop and refine its various products and services.

Meta to temporarily shut down social media platform Threads in Turkey

Economic Times

Economic Times · 1y ago

Meta to temporarily shut down social media platform Threads in Turkey

Meta Platforms will temporarily shut down its social media platform, Threads, in Turkey from April 29th to comply with an interim order from the Turkish competition authority. However, there will be no impact on Meta's other social media platforms such as Facebook, Instagram, and WhatsApp in Turkey. This decision comes after the Turkish competition authority imposed an interim measure on Meta, aimed at limiting data sharing between Instagram and Threads, as they investigate possible abuse of Meta's dominant market position.

Meta challenges EU's Digital Services Act supervisory fee as unfair

Startup News FYI

Startup News FYI · 1y ago

Meta challenges EU's Digital Services Act supervisory fee as unfair

Social media giant Meta is challenging the European Union's supervisory fee under the Digital Services Act (DSA). The DSA allows the EU to charge very large online platforms to fund oversight of their businesses. Meta argues that the fee calculation mechanism is unfair, as companies that report a loss are exempt from paying, even if they have a large user base. The EU defends its methodology, stating that the fee should be proportionate to a provider's economic capacity. Meta's legal challenge is being brought to the EU's General Court.

Mark Zuckerberg said social media on phones can be 'anti-social,' which is part of why he cares about Ray-Ban smart glasses

Business Insider

Business Insider · 1y ago

Mark Zuckerberg said social media on phones can be 'anti-social,' which is part of why he cares about Ray-Ban smart glasses

Meta CEO Mark Zuckerberg has expressed his hopes that smart wearable technology, particularly glasses, will improve the social media experience. He believes that the current small screen format of social media on smartphones is "anti-social." Zuckerberg sees glasses as a more natural and immersive way to engage with social media platforms like Facebook and Instagram. Meta's smart glasses, announced in 2020, allow users to take photos, livestream on Instagram, and use AI features. Although the glasses do not have augmented reality capabilities, Zuckerberg believes they will become popular and widely adopted in the future.

New era of AI deepfakes complicates 2024 elections

Livemint

Livemint · 1y ago

New era of AI deepfakes complicates 2024 elections

The 2024 US presidential election faces a unique challenge of policing deceptive content due to the proliferation of AI technology. The use of AI-generated deepfakes, fake images, audio, videos, and social media profiles that appear human can potentially confuse voters. With around 70 countries holding national elections this year, platforms like Meta and OpenAI are implementing measures to address deceptive content. Social media giants, including X, Meta, and YouTube, are navigating the balance between combating deceptive content and respecting free speech. The risk of AI-generated fakes may lead to greater skepticism even towards genuine images and recordings.

Meta to temporarily shut down social media platform Threads in Turkey

Reuters · 1y ago

Meta to temporarily shut down social media platform Threads in Turkey

Meta Platforms announced that it will temporarily shut down its social media platform, Threads, in Turkey starting April 29. This decision is in compliance with an interim order from the Turkish competition authority, which aims to hinder data sharing between Meta's Instagram and Threads platforms. However, Meta stated that its other social media platforms, including Facebook, Instagram, and WhatsApp, will not be affected by this temporary shutdown.

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