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Meta

Indian Users Can Choose To Not Accept Meta Privacy Policy.

Even as it faces regulatory scrutiny in different parts of the world, including India, Meta said on May 26 that it will be revising and re-designing its privacy policy after four years to make it easier for consumers to comprehend and provide more transparency about how they utilize their information.

The new policy will take effect on July 26, 2022, and will apply to Facebook, Instagram, Messenger, and other Meta products. WhatsApp, Workplace, Free Basics, Messenger Kids, and the use of Quest gadgets are not covered without a Facebook account because they have their own privacy policies.

“The last three years have brought a number of changes to the privacy landscape as a whole, including to peoples’ desire to better understand how their data is being used,” said the company.

Source: www.ndtv.com

Indeed, this comes at a time when there is a global discussion about people’s rights to privacy or the human right to privacy. The human right to privacy refers to a person’s ability to choose when, how, and why others, including businesses, handle their personal information.

Meta
Image source: economictimes.indiatimes.com

To maintain dignity, safety, and confidence, privacy must be protected. Individuals can select how their data is utilized and develop their personalities freely without fear of data misuse. Its revising its data policy for Facebook, Messenger, and Instagram to give consumers greater control over how the business uses their data and the material they publish.

Meta will also outline more clearly how it processes the information it collects from users under the updated privacy policy, including how it processes location-related information such as internet protocol addresses, check-in at locations, and other information such as current city, according to the company. The social media titan claims that the new privacy policy does not grant it greater access rights to user data, but rather allows Meta more control over customizing adverts based on consumer choices and sharing data, with all controls in one place.

These expectations include the rights and obligations described in our Community Standards, for example when we may disable or terminate accounts that violate our Terms or Community Standards or others’ intellectual property rights or other laws,” the company said.

Source: economictimes.indiatimes.com

Despite the fact that Meta has released the new policy and plans to implement it by July 26, users in India will have the option of accepting the terms and moving to the new regime or continuing to use Facebook, Messenger, and Instagram under the terms of the old data policy, according to the company.

“Our Privacy Policy is informative in most countries, so we’re publishing a prominent notice to alert people to the change, but they’re not invited to, say, click to consent to the modification to our Privacy Policy.” Users in India have the option of accepting or rejecting the new Privacy Policy and Terms of Service, with no effect on their access to our products,” said Meta.

Source: economictimes.indiatimes.com

Meta’s stance on allowing Indians to opt out of Facebook’s, Messenger’s, and Instagram’s new privacy policies is similar to what it did with WhatsApp.

It changed its terms of service in late January of last year, stating that users who did not accept the terms by February 8 would be prohibited from utilizing some of the app’s fundamental features. Following user protests, the deadline was pushed back to May 15, and WhatsApp stated that individuals who had not accepted the revised conditions of the policy will be reminded on a regular basis.

WhatsApp’s stance drew criticism from a number of countries around the world, prompting the firm to backtrack and say that it would not impede functionality for individuals who refused to accept the new terms, nor would it send reminders to people who refused to accept the new terms.

WhatsApp, Workplace, Free Basics, Messenger Kids, and a few more services that have their own privacy policies are not affected by the modifications announced on Thursday.

Twitter

Twitter Bans Ads That Oppose Climate Change Science.

Ads that deny the reality of climate change were banned by Twitter on Friday.

On Earth Day, Twitter made the announcement as it tries to fend off a hostile takeover bid from billionaire Elon Musk, who has stated that people should be able to say whatever they want on the platform.

In a blog post, Twitter global sustainability manager Casey Junod said, “Misleading advertisements on Twitter that contradict the scientific consensus on climate change are prohibited, in line with our inappropriate content policy.”

“We believe that climate denial should not be made profitable on Twitter, and that misleading advertisement should not detract from important discussions about the climate crisis.”

Last year, Twitter launched a Topic feature to help users find conversations about climate change, as well as hubs of “credible, authoritative” information on a variety of high-profile topics, such as climate change science.

Twitter
Image source: www.bssnews.net

“We recognise that false information about climate change can sabotage efforts to protect the environment,” Junod said.

“Now, more than ever, all of us must take meaningful climate action.”

As appealing as access to Musk’s wealth maybe, Twitter does not want to be ruled by a billionaire who is known for acting without thinking about the consequences of his actions.

The global one-to-many messaging platform is taking steps to prevent Musk from acquiring all of Twitter’s outstanding shares, indicating that concerns about his leadership style outweigh the potential payoff.

Musk, the world’s richest man and a controversial and frequent Twitter user, made an unsolicited $43 billion (roughly Rs. 3,28,800 crore) bid for the social media network earlier this month, citing improved freedom of speech as a motivation.

Musk favors a hands-off approach to content policing, which can be difficult in high-profile cases like that of former US President Donald Trump, who was banned following his supporters’ assault on the Capitol in an attempt to overturn the US election result last year.

However, the polarising Tesla CEO’s campaign has alarmed technology and free-speech experts, who point to Musk’s erratic statements and history of bullying critics as contradicting his stated goals.

The board of Twitter decided to use a “poison pill” defense, in which any acquisition of more than 15% of the company’s stock without its approval would trigger a plan to flood the market with shares, making a takeover more difficult.

Why does Elon Musk want to buy Twitter?

Elon Musk purchased slightly more than 9% of Twitter on March 14th, making him the company’s largest outside shareholder. On April 10th, it appeared that he would join the board of directors, as announced by Twitter’s CEO, Parag Agrawal, but that possibility had faded by then. On April 14th, Musk made an offer to buy the rest of Twitter and take it private for $54 and 20 cents per share. The offer valued the company at around $43 billion, significantly higher than its current market capitalization of nearly $36 billion. Musk’s efforts have sparked a corporate drama worthy of “Succession,” with talk of hostile takeovers, proxy battles, and board replacements all being discussed as ways to get the deal done.

Musk is worth around $280 billion, thanks in part to Tesla’s market capitalization of more than a trillion dollars, and he has pledged $21 billion in personal equity to take Twitter private. The social media platform is insignificant. A deal of some sort appears to be on the cards if Musk can gather the necessary funds. His motivation for using Twitter in the first place is less clear.

Twitter has a reputation for being a dysfunctional company. It has been unable to keep up with competitors such as Facebook and TikTok, and its updates and new features have arrived infrequently and inconclusively, causing users to become irritated. Since its inception in 2006, its advertising-based business model has hardly changed. Twitter’s dual status as a complete disaster and a hugely influential platform make it an easy target: it elicits strong reactions, including suggestions for how to fix it and calls to shut it down completely.

Musk appears to be hell-bent on bringing Twitter back to its former glory days when tweeting had fewer ramifications. Because Twitter is taken seriously as a public platform, it has suffered consequences. Musk was charged with fraud by the Securities and Exchange Commission in 2018 after tweeting about having the funds to take Tesla private at $420 per share, a move that resulted in him stepping down as the company’s chairman for three years and paying a $20 million fine.

Twitter is currently attempting to defend itself against Musk’s efforts. If any individual or group—presumably led by Musk—acquires more than 15% of the stock, the company adopts a “poison pill” policy that dilutes the stock and makes a tranche of new shares available to current holders. The cost of acquiring the company would rise as a result. 

Elon Musk

Elon Musk Makes ‘Best And Final’ Offer To Buy Twitter; Launches Hostile Takeover Bid Worth $43 Billion.

Elon Musk, a billionaire entrepreneur, has offered to buy Twitter Inc. for $43 billion, slamming the company’s management and claiming to be the only person who can unlock the “extraordinary potential” of a communication platform used by more than 200 million people every day.

Musk said he’ll pay $54.20 per share in cash, which is 38% higher than the price on April 1, the last trading day before he went public with his stake. In New York on Thursday, the social media company’s stock was little changed at $45.81, indicating scepticism that one of the platform’s most outspoken users will succeed in his takeover attempt.

“I invested in Twitter because I believe it has the potential to be a global platform for free speech, and I believe that free speech is a societal imperative for a functioning democracy,” he wrote in the filing. “However, since making my investment, I’ve come to realise that the company, in its current form, will neither thrive nor serve this societal imperative.”

Elon Musk, 50, made the offer public on Thursday in a filing with the US Securities and Exchange Commission. On April 4, the billionaire, who also owns Tesla, revealed a 9 percent stake in the company. Tesla’s stock dropped 1.5 percent in pre-market trading as a result of the news.

Twitter’s board of directors will consider the proposal, and any response will be in the best interests of “all Twitter stockholders,” according to the company.

The bid is the latest chapter in Musk’s tumultuous relationship with the social media platform. The executive is one of Twitter’s most-followed firebrands, frequently tweeting memes and taunts to his more than 80 million followers as @elonmusk. He’s been vocal about the changes he’d like to see at the social media platform, and the company offered him a seat on the board after he announced his stake, which made him the company’s largest individual shareholder.

Elon Musk
Image source: indianexpress.com

Elon Musk began soliciting feedback from fellow Twitter users soon after his stake was made public, proposing everything from turning Twitter’s San Francisco headquarters into a homeless shelter to adding an edit button to tweets and granting automatic verification marks to premium users. Given that several celebrities with large followings rarely tweet, one tweet suggested that Twitter might be dying.

He is one of the few people who can afford a full takeover because he is dissatisfied with the power that comes with being Twitter’s largest investor. According to the Bloomberg Billionaire’s Index, he’s worth around $260 billion, compared to Twitter’s market value of around $37 billion.

In a letter to Twitter’s board, Musk stated that “in its current form, Twitter will neither thrive nor serve [its free speech] societal imperative.” Twitter should be turned into a private company.”

It is unlikely that the takeover will take a long time. “If the deal doesn’t work, I’ll have to reconsider my position as a shareholder,” Musk said. “I don’t have faith in management and don’t believe I can drive the necessary change in the public market.”

According to today’s statement, Musk informed Twitter’s board of directors over the weekend that he believes the company should be taken private.

According to Vital Knowledge’s Adam Crisafulli, the $54.20 per share offer is “too low” for shareholders and the board to accept, despite the fact that the company’s shares hit $70 (roughly Rs. 5,300) less than a year ago.

Despite the fact that Musk is the world’s richest man, he has yet to reveal how he will come up with $43 billion in cash.

“This becomes a hostile takeover offer that will cost a significant amount of money,” said Neil Campling, Mirabaud Equity Research’s head of TMT research. “To fund it, he’ll have to sell a significant amount of Tesla stock or take out a large loan against it.”

What is Musk’s goal for Twitter?

Musk is one of the most popular people on Twitter, with 80.5 million followers, outnumbering celebrities like Kim Kardashian and Selena Gomez.

However, his frequent tweeting has resulted in regulatory issues, such as his long-running dispute with the Securities and Exchange Commission after he tweeted in 2019 that he had the funds to buy Tesla for $420 per share. That didn’t happen, but it did cause the stock to rise, drawing the attention of regulators.

Musk had been expected, as Twitter’s largest shareholder, to press the company on issues of free speech, a subject on which he has spoken out. Musk’s acquisition offer letter emphasised this point, emphasising his commitment to “free speech.”

Elon Musk

Elon Musk To Join Twitter’s Board Of Directors After Big Move.

Elon Musk will join Twitter‘s board of directors just one day after it was revealed that he had purchased a 9% stake in the company, making him the largest shareholder in the social media platform.

“I’m thrilled to announce that @elonmusk has been appointed to our board of directors!” On Tuesday, Twitter CEO Parag Agrawal sent out a tweet. “It became clear to us in recent conversations with Elon that he would add tremendous value to our Board.”

“He’s both a passionate believer and an intense critic of the service,” Agrawal continued, “which is exactly what we need on Twitter and in the boardroom to make us stronger in the long run. Elon, welcome!”

“I’m looking forward to working with Parag and the Twitter board in the coming months to make significant improvements to Twitter!” In response to Agrawal, Musk said.

Elon Musk was also welcomed to the board of directors by former Twitter CEO Jack Dorsey. “I’m overjoyed that Elon has decided to join the Twitter board! He is deeply concerned about the state of our world and Twitter’s role in it. Both Parag and Elon lead with their hearts, and they’ll make an amazing team “In a tweet, he stated.

Elon Musk
Image source: foxmetronews.com

The Tesla and SpaceX CEO bought a 9.2 percent stake in Twitter on Monday, making him the company’s largest shareholder. Many people were surprised by the move, as Musk had just complained about free speech on the platform in a tweet last week.

Tesla’s CEO uses Twitter to communicate with his 80 million followers on a regular basis, which can get him in trouble. Following a series of impromptu tweets about taking Tesla private in 2018, US securities regulators appointed a Twitter babysitter for Musk, who is responsible for reviewing everything the CEO tweets about his company.

Musk is expected to press Twitter on issues of free speech, a subject about which he has spoken out. Several social media platforms, including Twitter, are attempting to strike a balance between free speech and the censorship of content deemed hateful, harmful, or false.

He was even seen asking Twitter users if he should start a new social media platform where people could share their thoughts. That’s when the majority of Twitter users suggested Musk buy the company, and now he’s the company’s largest shareholder.

Musk’s Twitter stake is classified as a passive investment, implying that he is a long-term investor who wants to keep his buying and selling to a minimum. However, Musk has raised concerns about the ability to freely communicate on Twitter, tweeting about free speech and the social media platform last month, and industry analysts were skeptical of the mercurial CEO remaining on the sidelines anywhere. Since Musk announced that he has purchased a stake in Twitter, the stock has risen 35%, bringing Musk’s net worth to $980 million.

With Musk on board, it’s possible that we’ll finally get the long-awaited Edit button on Twitter, which former CEO Jack Dorsey was adamantly opposed to. Musk polled Twitter users about creating an Edit button on the same day he bought into the company.

meta

Meta – A Company That Has Got Half The Population Scrolling Down Their Mobile Phones.

Meta is most commonly known as Facebook Inc as it hasn’t been a year since the company was rebranded. It is one of the world’s largest technology companies apart from Google, Amazon, Apple, and Microsoft. By the end of 2021, Mark Zuckerberg announced the change of the name to Meta as it also reflects the focus of the company to building the metaverse. Facebook Inc (now Meta) was founded in 2004, and it is the parent company of Facebook, Instagram, Whatsapp, and many other subsidiaries. So, the company is mostly dominating the entire social media industry in most parts of the globe apart from countries where it is blocked.

About Meta

The brains behind founding Meta are Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. Meta’s headquarters are located in Menlo Park, California, US and there are more than 70,000 employees working for the company from various parts of the world. Apart from billions of active users of social media, Meta earns a good portion of its revenue from advertisement postings. One of the early and largest acquisitions by Meta was in 2012 when it bought Instagram. Meta has also acquired companies like Giphy, Mapillary, Oculus, and owns a 9.99% stake in Jio Platforms.

Meta
Image source: vox-cdn.com

History of Facebook

Facebook was launched during a time when the internet eventually became famous and it was coming closer to common people in terms of availability. A social media platform for chatting, posting pictures, etc sounded very new and thus exciting, especially for the younger population. In 2012, when Mark Zuckerberg decided to file an IPO, the Facebook platform was already receiving billions of likes and comments. After Facebook becomes public, Zuckerberg was to retain 22% ownership of the company and 57% of the voting shares. So, when Facebook became a public company it was valued at $104 billion. The IPO raised for Facebook was one of the largest in the history of the US economy.

But, a massive company like Facebook that had to increase the number of shares offered due to high public demand, caught everyone’s attention. So, the regulators from Wall Street decided to investigate if there has been any leaking of information to selected clients rather than the general public. There were several accusations leading to the filing of several lawsuits some retail investors losing millions over this fury. Facebook became a part of the S&P 500 index in 2013. In 2014, the company decided to change its motto to “Move fast with stable infrastructure” from “Move fast and break things.”

Acquisitions

Facebook has acquired several companies which the company calls “talent acquisitions”. After acquiring Instagram which was one of the first acquisitions of the company, it acquired Onavo, an Israeli company in 2013. In 2014, Facebook showed its interest in buying Whatsapp for $19 billion and later that year also acquired Oculus VR for $2.3 billion. Facebook wanted to create its own stable coin cryptocurrency hence it founded Libra Networks in 2019. Meta has also mentioned that Libra is backed up by companies like Visa, PayPal, Uber, and Mastercard. In 2019, Meta acquired the game developer Beat Games and then next year announced about the 10 percent (approximate) stake acquisition of Jio Platforms, digital media of Reliance Industries. In 2020, Meta also announced the acquisition of Giphy for $400 million.

About Mark Zuckerberg

Mark Zuckerberg is one of the most famous tech entrepreneurs across the globe. He started writing software from an early age (when he was in middle school) and his dad also taught him basic programming. Zuckerberg went to Harvard and he was already famous as a programming prodigy. He started writing the code for a website early in 2004 and after one month he launched the website, “Thefacebook.” Eventually, he dropped out of college to carry on with his project. In 2017, he received an honorary degree from Harvard. Zuckerberg is currently the CEO of Meta Platforms.

Social Media

The Conservatives Vs. Social Media Biases

Social media has evolved to become an essential tool for the younger generation. So much so that a large percentage of the world’s population seems to be on some kind of social media platform. Generally regarded as a platform to express themselves, social media comes with a fair share of rules. For instance, these networking sites can remove user accounts and take down posts for a multitude of reasons. For example, these platforms can ban users and their posts if they post anything offensive, off-color, or racist. However, users do not seem to have the same power as most cases against Facebook and Twitter fizzle out. Here’s a look at how conservative social media biases affect the community and how the judiciary handles them.

Loomer and her Rights

People keep filing lawsuits against social media sites even when the precedence is against them. Just yesterday, another popular plea was shot down by the judiciary, and yet the people don’t seem to be stopping. So what makes people file such suits against these large corporations? A court in Washington rejected a lawsuit filed by a conservative activist, Laura Loomer. Twitter banned Loomer for her anti-Muslim tweets, and she retaliated by chaining herself to Twitter’s headquarters as a sign of protest. Loomer, in her plea, argued that corporations like Facebook, Google, and Twitter work together to stifle conservative content. She believes that this is a direct violating of her First Amendment rights. However, the court disagreed and threw her plea right out, without even allowing it to go up the legal chain.

The President Agrees

Recently, President Donald Trump has also been blasting Twitter by suggesting that it has a bias. Trump even went as far as to threaten Twitter because it fact-checked his tweets. He issued a warning stating that he would find some way to actively regulate the microblogging site, which tries to silence conservative voices. Anti-bias lawsuits wherein people accuse social media sites of discriminating against them due to their stands on issues are quickly becoming popular. However, courts around the world have repeatedly defended the rights of such sites to ban as per their regulations. Here is a look at some of the most famous cases.

Charles C Vs. Twitter

Conservative activist Charles Johnson has filed multiple lawsuits in his career, with the most famous being one against Twitter. In this plea, he claimed that Twitter of violating his rights for free speech by banning him in 2015. However, Twitter made it clear that Johnson had violated its rules by posting threats. The court ruled in favour of Twitter by stating that it was Twitter’s right to terminate a user’s account.

Jared Taylor Vs. Twitter

Far-right activist and nationalist Jared Taylor, sued Twitter for discriminating against him when they banned him in 2018. However, Twitter stated that they did so due to his racist views on topics and inflammatory posts. While the Judge in California allowed the case to go ahead, the appeals court said it doesn’t hold as Twitter has the right to do so as per Section 230 of the Communications Decency Act.

Federal Agency of News Vs. Facebook

Federal Agency of News, which has ties to the Russian Internet Research Agency filed a suit against Facebook for removing its page in 2016. Facebook did a clean-up in 2016, which removed many propaganda pages, such as that of FAN. FAN sued Facebook for a breach of contract, and Judge Lucy Koh responded by striking it down, once in 2019 and again a year later.

Craig Brittain Vs. Twitter

Commonly regarded as Revenge Porn King, Craig Brittain, filed a suit against Twitter for banning him. He had run for a Senate seat in Arizona and filed a suit against Twitter for violating his rights and causing him emotional stress. However, the court quickly threw out the case as it didn’t have enough points.

Prager University Vs. Google

Conservative group Prager University filed a bias suit against Google in 2017, because they believed YouTube had restricted access to their videos. Much like Lommer, PragerU stated that Google had violated the First Amendment and the Lanham Act as a result of false advertising. However, in 2018, Judge Lucy Koh dismissed the case as Google was a private entity with the power to regulate its own content. An appeals court upheld the decision in a couple of months back, putting to rest any chance they had.

Tulsi Gabbard Vs. Google

Democratic politician and Presidential candidate Tulsi Gabbard filed a lawsuit against Google in 2019 for suspending her ad account. She stated in her plea that the company was trying to undermine her efforts for the election. However, California Judge Stephen Wilson dismissed the case and stated that Google is not an agency run by the US government. He also used the PragerU case to set a legal precedent and concluded that Google is a private organisation.

As you can see, conservatives love filing suits against social media sites. However, why does this keep happening? Though some of these look like publicity stunts, others come from people genuinely confused regarding the law. As more and more politicians keep pushing misinformation about laws and internet regulations, this seems to be a trend that will be on the rise.