META INC
TikTok let through disinformation in political ads despite its own ban, Global Witness finds
The group, which did a similar investigation two years ago, did find that the companies - especially Facebook - have improved their content-moderation systems since then. But it called out TikTok for approving four of the eight ads submitted for review that contained falsehoods about the election. That's despite the platform's ban on all political ads in place since 2019.
Vietnam’s relationship with big tech is at a crossroads
Vietnam's role as a manufacturing hub is straining due to infrastructure and labor force limitations amid growing foreign investment.
Tech market values jump in September on Fed rate cuts, AI optimism
Meta Platforms Inc's market value surged about 10% to $1.45 trillion as their shares also reached all-time highs, driven by the unveiling of its first working prototype of augmented reality glasses, called Orion, and the introduction of new AI capabilities for its services.
Amazon wins partial dismissal of US antitrust lawsuit
Amazon partially won a court case against the U.S. Federal Trade Commission (FTC). It accused Amazon of unfairly dominating the online retail market, but the court dismissed some of these accusations.
Amazon wins partial dismissal of US antitrust lawsuit
A federal court in Seattle partly dismissed the FTC's lawsuit against Amazon, which accused the retailer of maintaining illegal monopolies. The FTC claims Amazon used anti-competitive tactics, including price algorithms and coercing sellers to use its services. The case will proceed in two parts as per Judge John Chun's ruling.
WeWork’s Rs 1,200-crore deal collapses; ETSA Bootstrap Champ winner Boult
Happy Friday! Bankruptcy-hit coworking firm WeWork Inc.’s plan to exit the India unit via a secondary stake sale has fallen through. This and more in today’s ETtech Morning Dispatch.
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ED crackdown on betting app; Policybazaar stock swing
Ahead of its much-anticipated IPO, Swiggy shares have seen a 40% surge in the unlisted market since July. This and more in today’s ETtech Top 5.
Facebook parent Meta Platforms beats lawsuit over Apple privacy, COO Sandberg disclosures
The Oakland, California-based judge also turned aside claims that Meta knew its transition to Reels, which copied TikTok's short-form video format, would hurt revenue because it offered fewer ads per hour than older formats.
Meta faces hefty EU antitrust fine over classified ads practices: report
Meta Platforms Inc is set to face a significant fine from the EU over allegations of trying to dominate the classified advertising market. The EU claims Meta links its free Marketplace services with Facebook to undermine competitors. A decision could be announced next month, marking one of the last investigations by competition chief Margrethe Vestager.
Snap unveils fifth-generation of Spectacles, its augmented reality glasses
This comes days ahead of rival Meta set to showcase its AR glasses at the Meta Connect conference and Apple Inc having set the stage for its AR glasses that have reportedly been under development.
Tech market values fall on AI costs and recession fears
Last month, Alphabet Inc's lost 4.7% of its market value as a slowdown in YouTube's advertising sales fuelled concerns about its earnings. A US judge's ruling that Google had violated antitrust laws and the emergence of new competition from OpenAI, which is developing an AI-based search engine prototype, also contributed to its shares' decline.
FirstCry Q1 financials; India Inc’s rush for AI talent
FirstCry reported a 17% jump in its April-June quarter revenue on year. This and more on today’s ETtech Top 5.
Apple developing $1,000 tabletop robot with iPad-like display for 2026 release
Apple is advancing its development of a high-end tabletop device, combining an iPad-like display with a robotic arm, aiming for a 2026 or 2027 launch. This device, codenamed J595, is intended to serve as a smart home command center, videoconferencing tool, and home security assistant. The project, led by Kevin Lynch, focuses on integrating Siri and AI features. Apple's push into robotics follows the recent discontinuation of its self-driving car project and is part of a broader strategy to explore new revenue streams amidst challenges in existing markets.
Meta beats censorship lawsuit by RFK Jr's anti-vaccine group
Children's health defense sued in 2020, saying that Meta had violated its constitutional rights by flagging "vaccine misinformation" as false, and taking away its right to advertise on Facebook. Meta's actions included prohibiting users from sharing claims that Covid-19 vaccines don't work, and referring viewers of Children's Health Defense posts to the World Health Organization for facts about Covid-19.
How the Google antitrust ruling may influence tech competition
Google's loss could have major ripple effects for competition today. U.S. regulators have also accused Apple, Amazon and Meta of violating antitrust laws by advantaging their own products on the platforms they run and acquiring smaller rivals.
Google has an illegal monopoly on search, US judge finds
This move is also a green light to aggressive US antitrust enforcers prosecuting Big Tech, a sector that has been under fire from across the political spectrum. The ruling paves the way for a second trial to determine potential fixes, possibly including a breakup of Google parent Alphabet, which would change the landscape of the online advertising world that Google has dominated for years.
Apple and Meta have discussed AI partnership: report
Meta Platforms discussed integrating its generative AI model into Apple's AI system. AI startups Anthropic and Perplexity also in talks with Apple, as reported by the Wall Street Journal.
Meta must face Australian billionaire Forrest's US lawsuit over scam Facebook crypto ads
In a decision on Monday, US District Judge Casey Pitts in San Jose, California said Australia's second-richest person can try to prove that Meta's negligence in allowing the ads breached its duty to operate in a commercially reasonable manner.
New York lawmakers pass measure to protect youths on social media
New York state lawmakers passed legislation to protect children online by restricting social media platforms from exposing 'addictive' content to users under 18 without parental consent.
A realistic way to protect kids from social media? Find a middle ground
Ahmed Othman, a teenager from Massachusetts, avoids TikTok and credits his parents, computer scientists, for teaching him about social media's impact on mental health. He is among the minority of teens not on TikTok, as per Pew Research Center data.
Nvidia and five tech giants now command 30% of the S&P 500 Index
The S&P 500 Index is now dominated by the six major US companies, Microsoft Corp., Apple Inc., Nvidia Corp., Alphabet Inc., Inc., and Meta Platforms Inc., marking a notable shift in market dynamics.
From Tokyo to New York, stock markets are on a record-hitting spree around the world
Equity markets worldwide are experiencing highs. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever. Meanwhile, the biggest bourses in Europe, Canada, Brazil, India, Japan and Australia are currently at or near their peaks.
Job site Indeed cuts around 1,000 jobs in second layoff in two years
Indeed's layoffs were announced by chief executive officer Chris Hyams in a company memo. This development comes as the job listing platform grapples with a significant downturn in job postings and a cooling labor market.
Nvidia rivals gold as shield against inflation, survey shows
Gold, the haven of choice for decades, is still seen as the best safeguard against the risk of rising prices, according to 46% of survey participants. But nearly a third said the tech behemoths are their first pick for the role.
Apple will revamp Siri to catch up to its chatbot competitors
Introduced in 2011 as the original virtual assistant in every iPhone, Siri had been limited for years to individual requests and had never been able to follow a conversation. It often misunderstood questions.
iOS 18: Your iPhone may soon have ChatGPT
Apple is nearing a partnership with OpenAI to integrate the startup’s technology into the iPhone, part of a broader effort to boost its devices with AI capabilities. Talks are progressing regarding incorporating ChatGPT into iOS 18, Bloomberg sources revealed.
Jeff Bezos, Mark Zuckerberg lead the way in big tech insider stock sales
Almost a dozen executives and directors at the firms recently boosted their share sales, earning more than $160 million since late 2023 after not cutting their stakes in as long as nine years, according to data compiled by Bloomberg.
Delhi HC to hear in August pleas of FB, WhatsApp against IT rules on tracing originator
Observing that the matter would have to be argued by the parties, a bench headed by Acting Chief Justice Manmohan asked if the issue has been considered in any other country.
OpenAI begins India hiring in bid to shape regulation early
OpenAI's Pragya Misra will lead Indian government relations amidst Google competition. Altman advocates AI integration in services, emphasizing the need for regulations to prevent harm from advancing technology.
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