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Analysis: Facebook has become a $770 billion clone factory

Analysis: Facebook has become a $770 billion clone factory

(CNN Business)There was an exciting moment four years ago when it seemed like Facebook was doing something truly jaw-dropping. The company set up a new hardware division called Building 8, staffed it with scientists and engineers overseen by an executive from DARPA, and it was building technology to help you type with your brain and "hear" with your skin. While it was unclear whether the bold idea would ever actually materialize, it felt innovative and different than anything the company had ever done -- a moonshot factory like Google had long been known for. But then the DARPA executive; a...

July 29, 2020
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Facebook vowed to crack down on Covid-19 vaccine misinformation but misleading posts remain easy to find

Facebook vowed to crack down on Covid-19 vaccine misinformation but misleading posts remain easy to find

(CNN Business)Nearly two months into the largest vaccine rollout in US history, Instagram continued to prominently feature anti-vaccination accounts in its search results, while Facebook groups railing against vaccines remained easy to find.Facebook has with addressing anti-vaxxer content. Late last year, it established new rules to tackle Covid-19 vaccine misinformation after pledging two years ago to reduce the spread of anti-vaxxer content. But misleading and fearmongering content about the Covid vaccines, as well as outright misinformation, continues to spread on the platform at a time...

February 1, 2021
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Zuckerberg: Bannon's beheading comments aren't enough to ban him from Facebook

Zuckerberg: Bannon's beheading comments aren't enough to ban him from Facebook

(CNN Business)Facebook CEO Mark Zuckerberg told staff at a company meeting on Thursday that Steve Bannon suggesting that Dr. Anthony Fauci and FBI Director Christopher Wray should be beheaded was not enough of a violation of Facebook's rules to permanently suspend the former White House chief strategist from the platform, according to a Facebook employee.Bannon was permanently suspended from Twitter last week after making the comments in a video.The video was live on Bannon's Facebook page for about 10 hours last Thursday and had been viewed almost 200,000 times before the company removed...

November 6, 2020
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CEOs of Google, Twitter and Facebook grilled in Senate hearing

CEOs of Google, Twitter and Facebook grilled in Senate hearing

New York (CNN Business)Ted Cruz yelled. His Democratic colleague Brian Schatz called the hearing in which he was speaking "a sham." Committee chair Roger Wicker couldn't pronounce the last name of Google's CEO. Just another day on Capitol Hill for Big Tech.In a contentious hearing on Wednesday, the CEOs of , and were questioned by Senators on the Commerce Committee over their content moderation policies. Some lawmakers demanded more transparency while others sought explanations on a few specific cases in which content was removed or labeled by platforms. Though the hearing was meant to...

October 28, 2020
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CEOs of Google, Twitter and Facebook grilled in Senate hearing

CEOs of Google, Twitter and Facebook grilled in Senate hearing

New York (CNN Business)A Senate Commerce Committee hearing with the CEOs of , and is underway on Wednesday amid cries of conservative bias and threats to change a crucial law, known as Section 230, that protects the companies' ability to moderate content as they see fit. The tech CEOs appeared via video. The hearing comes less than a week before the US election and as social media companies have been bracing for an . In recent days, Facebook and Twitter have both taken action to slow the spread of some content, bringing about allegations of bias, censorship and even election...

October 28, 2020
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YouTube CEO won't say if company will ban QAnon

YouTube CEO won't say if company will ban QAnon

(CNN Business)For years, YouTube has faced challenges over the types of content it removes, from terrorist propaganda and hate speech to misinformation about vaccines. It's now struggling over what to do about . In an interview with CNN's Poppy Harlow for the , YouTube CEO Susan Wojcicki stopped short of pledging to ban QAnon followers on the platform. "We're looking very closely at QAnon," Wojcicki said. "We already implemented a large number of different policies that have helped to maintain that in a responsible way."Believers of the far-right conspiracy theory, which first appeared...

October 12, 2020
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Instagram will hide comments that could be considered offensive

Instagram will hide comments that could be considered offensive

(CNN Business)Instagram will begin automatically hiding potentially offensive comments as part of its ongoing attempt to address online bullying.The company said the comments that will be hidden will be similar to those that have been reported by users in the past. Users will still be able to tap "View Hidden Comments" to see those remarks.Instagram said it's using existing artificial intelligence systems to identify bullying or harassing language in comments. Currently, users have the option to hide anything that Facebook determined was offensive.Instagram announced on Tuesday it would be...

July 29, 2020
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Facebook stock jumps 7% as pandemic helps make its audience even bigger

Facebook stock jumps 7% as pandemic helps make its audience even bigger

Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds.New York (CNN Business)The global pandemic is proving to be a boon for Facebook's user numbers -- at least for now. said Thursday that it had 2.7 billion monthly active users at the end of the June quarter, a 12% increase from the prior year. When factoring in all of Facebook's various apps, including Instagram and WhatsApp, the company topped 3 billion users for the first time. With more eyeballs, Facebook also saw revenue grow 11% to nearly $18.7 billion for the second quarter, even as the broader...

July 29, 2020
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Hundreds of brands are pulling ads from Facebook. Its largest advertisers aren't among them.

Hundreds of brands are pulling ads from Facebook. Its largest advertisers aren't among them.

Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds.New York (CNN Business)Hundreds of companies have promised to halt advertising on Facebook and its sibling platform Instagram as part of month-long boycott officially set to begin on Wednesday, according to the civil rights groups behind the protest. But even as a steady drumbeat of household names like , and have joined the pressure campaign over the social network's handling of hate speech and misinformation, the vast majority of 's biggest advertisers — the ones with presumably the most leverage --...

July 1, 2020
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People are luring Instacart shoppers with big tips -- and then changing them to zero

People are luring Instacart shoppers with big tips -- and then changing them to zero

Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds.New York (CNN Business)In late March, Instacart worker Annaliisa Arambula accepted a grocery order that came with a big tip: $55. The store was just down the street, everything the customer wanted was available, and the order seemed to go off without a hitch.But an hour later, Arambula checked her earnings on the and the entire tip was gone, with a message saying the "customer modified the tip post-delivery." She ended up making just $8.95 from Instacart on the order."I was flabbergasted. I couldn't...

April 8, 2020
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