The tech giants have overthrown capitalism. That’s the argument of former Greek finance minister Yanis Varoufakis, who became famous trying to defend debt-laden Greece from its German creditors. Varoufakis has never quite regained the notoriety of 2015. But he has remained a prominent left-wing voice. After a failed campaign for a seat in the European … Read more
Meta asked a federal judge on Friday to dismiss the Federal Trade Commission’s (FTC) antitrust case against the social media giant, arguing that the agency failed to prove that its acquisitions of Instagram and WhatsApp harmed consumers. “From the very beginning, the FTC has failed to state a plausible claim, and the agency has done … Read more
Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) on Tuesday accused Meta of suppressing Palestine-related content on its platforms, calling its actions “deeply troubling.” Their letter, addressed to Meta CEO Mark Zuckerberg, is a follow-up to a December one Warren sent that was also about Instagram and Facebook suppressing Palestinian content. The senators say Meta’s … Read more
Earlier this month, Meta announced that it would be shutting down CrowdTangle, the social media monitoring and transparency tool that has allowed journalists and researchers to track the spread of mis- and disinformation. It will cease to function on August 14, 2024—just months before the US presidential election. Meta’s move is just the latest example … Read more
Apple is among three tech giants being investigated for failing to comply with the European Union’s new competition rules, in another blow to the embattled smartphone maker. Apple was the primary focus of an EU press conference on Monday morning. But authorities also opened formal investigations into Meta and Alphabet, Google’s parent company. The trio … Read more
Instagram has moved to limit political content, with users now having to go into their settings on the app to turn the limiting feature off. Users of the popular social media platform now have to go into their settings under “[c]ontent preferences,” click “[p]olitical content,” and choose the option to not “limit political content from … Read more
A New York judge ruled that a handful of social media companies must face lawsuits from survivors of the Buffalo grocery store shooting in 2022 that left 10 people dead. An Erie Supreme Court judge ruled that social media companies — including YouTube, Meta and Reddit —must face lawsuits that have been brought against them … Read more
The stock of Meta Platforms dropped Monday after former President Trump labeled Facebook as “an enemy of the people” earlier that day. Shares for Meta, the parent company of Facebook, dropped by about 4.5 percent to just under $484 after Trump’s Monday interview on CNBC’s “Squawk Box.” Forbes reported that this was the lowest closing for Meta … Read more
Former President Trump on Monday said he views Facebook as “an enemy of the people” as he reiterated his opposition to a ban on TikTok. “Frankly, there are a lot of people on TikTok that love it. There are a lot of young kids on TikTok who will go crazy without it. There are a … Read more
A group of 41 state attorneys general are demanding that Meta, the parent company of Facebook and Instagram, provide support for users because there has been a “dramatic increase” in accounts on its platforms being locked and taken over. The letter, addressed to Meta’s chief legal officer, Jennifer Newstead, requested immediate action to address the … Read more
