Tuesday, September 22

Tag: Meta

19Aug By AdminsNo Comments

Meta Platforms faces pivotal trial as opening statements begin in California

Opening statements kicked off on Tuesday (Wednesday AEST) in a pivotal trial for Meta Platforms in a California federal court, where states are seeking billions of dollars in damages for social media harms to children. Attorneys general from California, Colorado, Kentucky and New Jersey are seeking a financial penalty that could, in theory, total as much as $US1.4 trillion ($2 trillion) plus changes to how the company operates Facebook and Instagram. California Attorney General Rob Bonta arrives at the courthouse on Tuesday. AP Photo/Noah Berger Twenty-nine states sued the tech giant in 2023 over child safety and privacy — the other 25 will go to trial later. The company also faces lawsuits in state courts. The lawsuit accuses the social media giant of contrib...
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21May By AdminsNo Comments

Meta slashes 8000 jobs in $200 billion AI pivot

Meta's previously-reported 8000-strong job cuts have begun to roll out around the world, with affected employees being notifed from 4am in their local time zones. Last month, Meta confirmed the job cuts were in the works as part of a major AI-focused restructure. "We're doing this as part of our continued effort to run the company more efficiently and to allow us to offset the other investments we're making," Meta's chief people officer Janelle Gale said at the time in an internal memo to employees. Meta chief executive Mark Zuckerberg. (AP/Nic Coury) "This is not an easy trade-off and it will mean letting go of people who have made meaningful contributions to Meta during their time here." The New York Times has also reported that a further 7000 employees will ...
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6Oct By AdminsNo Comments

Mark Zuckerberg joins exclusive $300 billion club, is second-richest person in world

Mark Zuckerberg's wallet keeps getting fatter. The Meta CEO is now the second-richest person in the world, overtaking Jeff Bezos and Bernard Arnault. With a personal fortune of $US206 billion ($303 billion), according to recent figures from Bloomberg's Billionaire Index, he now only trails Elon Musk. Mark Zuckerberg joins exclusive $200 billion club, is second-richest person in world (CNN) Recent figures from Bloomberg's Billionaire Index show Zuckerberg has grown his personal fortune by a whopping $US78.1 billion ($114.9 billion) in 2024. He joins an elusive US$200 billion ($294 billion) club that only counts two other members. That includes Musk ($376 billion), the CEO of Tesla and X, and Bezos ($301 billion), the founder of Amazon. Arnault, the CEO of l...
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