Social Media

Facebook’s Security Chief Leaves for Stanford University

Facebook’s Security Chief Leaves for Stanford University

Facebook’s Chief Security Officer, Alex Stamos, has officially resigned from his position this week, a move that was expected by many after it was revealed in March that the social network will be reorganizing its security division. Stamos has been with Facebook since 2015, but will be leaving later this month to become a fellow at Stanford University where he will be part of a new working group that will focus on information warfare, designed to inform politicians and the media about new threats. Facebook’s chief operating officer Sheryl Sandberg said Stamos played a critical role at the company. However, […]

Hundreds of Facebook Posts Deleted Under Germany’s Online Hate Speech Law

Hundreds of Facebook Posts Deleted Under Germany’s Online Hate Speech Law

Facebook said this week that it had taken down 362 offensive posts after Germany’s NetzDG came into effect at the beginning of the year. The company added that non-compliance with the online hate speech law could result to fines up to 50 million euros. Vice president for global policy solutions Richard Allan also emphasized that hate speech is against the platform’s policy and they have removed posts that attacked people who were vulnerable for reasons including ethnicity, nationality, religion or sexual orientation. Germany’s criminal code considers insult, defamation, incitement to hatred and incitement to crime as offences. It was noted […]

Facebook Shuts Down Accounts Aimed at US Election Interference

Facebook Shuts Down Accounts Aimed at US Election Interference

Facebook revealed this week that is has identified and shut down accounts which may be used in a campaign that seeks to disrupt the mid-term US elections which will be held this November. Facebook said that they found 17 suspicious Facebook profiles which had published around 9500 posts, and 7 Instagram accounts, one of which posted only only a single piece of content. Some of the popular ones that got banned were Aztlan Warriors, Black Elevation, Mindful Being, and Resisters. The social network, however, said that they could not ascertain who was responsible for the pages as the bad actors […]

Volume of Fake News Overwhelming Real News, MPs Warn

Volume of Fake News Overwhelming Real News, MPs Warn

The Commons Digital, Culture, Media and Sport Committee chairman said this week that the volume of fake news is increasingly crowding out real news at a time when viewers are still struggling to discern between the two.   Tory MP Damian Collins revealed that they are calling for tougher regulation for social networks as the issue has already become a threat to democracy. The UK government is also said to be considering a requirement for election ads to have a digital imprint which will clearly identify the publisher.   Source: BBC  

US Senator Ask Tech Giants to Disclose Worth of User Data

US Senator Ask Tech Giants to Disclose Worth of User Data

In a policy paper revealed this week, US Senator Mark Warner suggested that in order to improve transparency, tech giants may want to disclose to their customers how much their information is worth to the platform. The white paper, which focused on data privacy and regulation, also included typical issues such as disinformation, data transparency and adopting a framework similar to Europe’s GDPR regulation. Warner’s paper is expected to put additional pressure on tech giants and massive data collectors like Google and Facebook who are already burdened by the GDPR.   Source: ZDNet  

Facebook Sued After Shareholders Lose Billions

Facebook Sued After Shareholders Lose Billions

Facebook is reportedly being sued by a shareholder who says that the company and its Chief Financial Officer David Wehner made inaccurate and incomplete statements about slowing revenue growth, falling operating margins, and declines in active users. Shareholder James Kacouris, who says that said the 19% plunge in Facebook’s shares was caused by federal securities law violations by the defendants. It is said that Kacouris’ lawsuit, which was filed in a Manhattan federal court, could just be one of many after the social media company had $120 billion of shareholder wealth wiped last week. Source: Reuters

Fake News a Danger to Democracy, MPs Warn

Fake News a Danger to Democracy, MPs Warn

The Digital, Culture, Media and Sport (DCMS) Committee in the UK recently warned that a democratic crisis could be triggered by “pernicious views” and data manipulation, with MPs further suggesting that social media companies be subjected to tougher regulation or a new tax. The report comes after months of investigation into the impact of tech giants and how the rise of fake news on social media affects users. The committee further suggested that a “new category of tech company”, which are those that act both as a platform or publisher, should be created to establish “clear legal liability for the […]

Facebook’s $100 Billion Loss Biggest in Stock Market History

Facebook’s $100 Billion Loss Biggest in Stock Market History

Facebook last Thursday was seen to had posted what is considered to be biggest one-day loss in market value by any company in the history of the US stock market after releasing its quarterly report which was described as “disastrous”. The social network’s market capitalization plunged from $630 down to $510 billion, with stock prices falling down 19%. Records show that Facebook is the only company in US stock market history to lose more than $100 billion in a day. Prior to this, the biggest single-day loss was posted by Intel in September of 2000, which amounted to around $90 […]

Facebook Launches Political Ads Transparency Features in Brazil

Facebook Launches Political Ads Transparency Features in Brazil

Facebook recently launched its transparency tools for political ads in Brazil in preparation for the country’s general elections in October. Brazil will be the second country after the US where the changes will be introduced. Brazilian Facebook users will now see a “paid for by” label showing who or which group purchased the ad. They will also be able to see more details like campaign budgets associated with the ad, users who viewed it and their demographic information, as well as an archive of all the campaigns run by the politician or party when they click on the label. Advertisers […]

China Retracts Approval for Facebook Venture

China Retracts Approval for Facebook Venture

China had reportedly pulled this week its approval for a Facebook’s planned venture in the eastern province of Zhejiang. A source familiar with the matter said that the government had initially approved Facebook’s request to open a subsidiary, but the registration has been removed. The US tech giant had planned to put up an “innovation hub” to support local startups and developers in Zhejiang, whose capital, Hangzhou, is home to a number of China’s top software and internet companies such as Alibaba Group Holding. Source: Reuters