Tag: Meta

Meta unveils more cautious approach to ChatGPT frenzy

Facebook-owner Meta on Friday unveiled its own version of the artificial intelligence behind apps such as ChatGPT, saying it would give access to researchers to find fixes to the technology’s potential dangers. Meta described its own AI, called LLaMA, as a “smaller, more performant” model designed to “help researchers advance their work,” in what could be seen as veiled criticism of Microsoft’s decision to release the technology widely, while keeping the programming code secret. Microsoft-backed […]

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Meta reports sales fall, but beats expectations

by Glenn CHAPMAN Agence France-Presse SAN FRANCISCO, United States (AFP) — Facebook and Instagram owner Meta on Wednesday reported its first annual sales drop since the company went public in 2012, but the fall was less brutal than expected, sending its share price soaring. The social media giant said sales dropped one percent to $116.6 billion in 2022, while it also announced that the number of daily users on Facebook hit two billion for the […]

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Meta says Trump to be allowed back on Facebook, Instagram

SAN FRANCISCO, United States (AFP) – Social networking giant Meta announced Tuesday it would soon reinstate former president Donald Trump’s accounts on Facebook and Instagram with “new guardrails,” two years after he was banned over the 2021 US Capitol insurrection. “We will be reinstating Mr. Trump’s Facebook and Instagram accounts in the coming weeks,” Nick Clegg, Meta’s president of global affairs, said in a statement, adding that the move would come with “new guardrails in place […]

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Facebook owner Meta to lay off 11,000 staff

by Juliette MICHEL with Joseph BOYLE in Paris Agence France Presse New York, United States (AFP) — Facebook owner Meta will lay off more than 11,000 of its staff in “the most difficult changes we’ve made in Meta’s history,” boss Mark Zuckerberg said on Wednesday. He said the cuts represented 13 percent of the social media titan’s workforce and would affect its research lab focusing on the metaverse as well as its apps, which include […]

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Facebook owner Meta to lay off 11,000 staff

  Paris, France | AFP | by Joseph BOYLE Facebook owner Meta will lay off more than 11,000 of its staff in “the most difficult changes we’ve made in Meta’s history”, boss Mark Zuckerberg said on Wednesday. He said the cuts represented 13 percent of the social media titan’s workforce and would affect its research lab focusing on the metaverse as well as its apps, which include Facebook, Instagram and Whatsapp. The tech industry is […]

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Meta planning massive layoffs: report

  San Francisco, United States | AFP | Facebook-parent Meta will become the latest tech firm to scale back its workforce, with plans to layoff thousands of employees this week, US media reported Sunday. The Wall Street Journal, citing people familiar with the matter, reported that the layoffs could impact “many thousands” of Meta employees and that an announcement was expected as soon as Wednesday. As of September 30, Meta had about 87,000 employees worldwide […]

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Meta unveils new virtual reality headset Quest Pro

  San Francisco, United States | AFP | A year after it rebranded itself in the name of building a metaverse, Meta on Tuesday unveiled a new version of its virtual reality headset tailored for working professionals. The $1,500 Meta Quest Pro features a number of new features that are meant to improve users’ perception of truly being in the presence of other people. The headset makes it possible to view not only virtual worlds […]

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Meta to freeze hiring to tighten budget: report

SAN FRANCISCO, United States (AFP) – Facebook-parent Meta put out word to employees on Thursday that it will freeze hiring to cut costs as it endures tough economic times, The Wall Street Journal reported. Meta chief Mark Zuckerberg revealed a planned pause in hiring during a weekly all-hands meeting, the Journal reported, saying the move came as the social media titan planned to cut expenses by at least 10 percent. Meta declined to comment on […]

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Google, Meta face record fines in South Korea over privacy violations

SEOUL, South Korea (AFP) — South Korea has fined Google and Meta more than $71 million collectively for gathering users’ personal information without consent for tailored ads, regulators said Wednesday, the country’s highest-ever data protection fines. Investigations into the two US tech giants found they had been “collecting and analyzing” data on their users, and monitoring their use of websites and applications, the Personal Information Protection Commission said. The data was used to “infer the […]

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Facebook’s Meta takes on bond debt, in a first

SAN FRANCISCO, United States (AFP) – Facebook-owner Meta is ending a run as one of the few major firms without debt, launching its first bond sale as the company battles uncertainty and bets heavily on its metaverse vision. Worries over the social media giant’s future and fierce competition from TikTok have sent its stock plummeting, while the firm spends billions on its plan for the internet’s next iteration. Meta reported to the US markets watchdog […]

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Facebook tweaks app with eye on rival TikTok

SAN FRANCISCO, United States (AFP) — Facebook has split the news feed in two on its app, a significant change that mimics the experience on its fiercest competitor, hugely-popular TikTok. One of the feeds unveiled Thursday is a chronological flow from the user’s connections and the other option includes algorithm-driven recommendations on anything that might interest them. The recommendations focus makes Facebook more similar to TikTok’s “For You” feed, where the booming video app’s algorithm […]

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Meta virtual money moves could include ‘Zuck Bucks’: report

SAN FRANCISCO, United States (AFP) — Facebook’s parent company Meta is exploring the potential of digital money referred to internally as “Zuck Bucks” in a play on the founder’s name, the Financial Times reported on Wednesday. Meta abandoned its effort to create a global cryptocurrency — first called Libra but eventually re-branded as Diem — in the face of fierce backlash by financial regulators around the world. However, founder and chief Mark Zuckerberg has spoken […]

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