Earnings Season: Tech Still on Top
Jacob Hummel Finance Editor Article is written as of April 27th, 2024. With earnings season underway, megacap tech continues to
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Meta
Big Tech Executives Face Emotional Senate Hearing Amid Calls for Child Safety Legislation
In an emotionally charged Senate hearing, Meta CEO Mark Zuckerberg apologized to families of child abuse victims, acknowledging the gravity of the harm caused by social media platforms. The session, which included executives from TikTok, X, Snap, and Discord, underscored lawmakers’ desperation to implement new protections for children online.
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Biden Administration Aims Ban at TikTok
Despite this aura of levity that the general population has of the app, this rise has always been closely eyed by U.S. lawmakers. The main issue for officials is the massive amount of data on the U.S. population that the app has stored, and whose hands this data might fall into.
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Meta Attacks TikTok
Earlier this year, it was revealed that Facebook refused to make positive changes to their product – even though they knew their app had a negative effect on children. In late March, it was revealed that Meta was paying one of the biggest Republican consulting firms to run this smear campaign on TikTok.
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Facebook’s Ad Refresh
The name is not the only thing Facebook chose to develop. Facebook has expanded the controls given to its advertisers and now allows them to avoid irrelevant and insensitive ads.
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Entering the Metaverse
Everyone knows the name Facebook, but a new name is being introduced to the market: Meta. Newly rebranded to Meta, Facebook’s parent company is starting a new company direction that aims to create a people-centered metaverse.
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The New Meta
Some grew up with MySpace, some grew up with Facebook, and now Facebook Meta wants the next generation to grow up with the Metaverse. On October 28th, Facebook officially renamed itself Meta and will trade under the ticker MVRS on the NASDAQ starting December 1st.
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