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Facebook, Inc. (FB.BA)
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White House sees YouTube, Facebook as 'Judge, Jury & Executioner' on vaccine misinformation
WASHINGTON, July 23 (Reuters) - The White House has YouTube, not just Facebook, on its list of social media platforms officials say are responsible for an alarming spread of misinformation about COVID vaccines and are not doing enough to stop it, sources familiar with the administration's thinking said.
The criticism comes just a week after called Facebook and other social media companies "killers" for failing to slow the spread of misinformation about vaccines.
A senior administration official said one of the key problems is "inconsistent enforcement." YouTube - a unit of Alphabet Inc's Google - and Facebook get to decide what qualifies as misinformation on their platforms. But the results have left the White House unhappy.
"Facebook and YouTube... are the judge, the jury and the executioner when it comes to what is going on in their platforms," an administration official said, describing their approach to COVID misinformation. "They get to grade their own homework."
Social media companies have come under fire recently from President, his press secretary, Jen Psaki, and Surgeon General Vivek Murthy, who have all said the spread of lies about vaccines is making it harder to fight the pandemic and save lives.
A recent report from the Center for Countering Digital Hate (CCDH), which has also been highlighted by the White House, showed 12 anti-vaccine accounts are spreading nearly two-thirds of anti-vaccine misinformation online. Six of those accounts are still posting on YouTube.
The fight against vaccine misinformation has become a top priority for the White House at a time when the pace of vaccinations has slowed considerably despite the risk posed by the Delta variant, with people in many parts of the country hostile to being vaccinated.
The requests to Facebook and YouTube come after the White House reached out to Facebook, Twitter and Google in February about clamping down on COVID misinformation, seeking their help to stop it from going viral, another senior administration official said then.
"Facebook is the 800-pound gorilla in the room when it comes to vaccine misinformation... but Google has a lot to answer for and somehow manages to get away with it always because people forget they own YouTube," said Imran Ahmed, CCDH founder and chief executive.
The senior administration official cited four issues on which the administration has asked Facebook to provide specific data, but the company has been reticent to comply.
These include how much vaccine misinformation exists on its platform, who is seeing the inaccurate claims, what the company is doing to reach out to them and how does Facebook know the steps it is taking are working.
The White House’s broad concern is that the platforms are "either lying to us and hiding the ball, or they're not taking it seriously and there isn't a deep analysis of what's going on in their platforms," the official said.
I deleted FB and IG about 5 months ago.
Why would Mark step down any time soon? He’s so young relatively speaking. Just trying to make sense if the noise ... hopefully someone smart can summarize the case. Thanks!
Is the IOS feature going to slow down FB's earnings? I myself, have noticed my FB Campaigns drop to zero leads after the IOS update. I think it will kill its next earnings report.
Any idea why all the social media stocks were up pretty big today?
anyone know why Mark Zuckerberg takes $950,000,000 out of Facebook every 2 months at $25,000,000+ a clip? Is he starting his own country?
U.S. senators aim to stop vaccine misinformation by going after tech's legal immunity
WASHINGTON, July 22 (Reuters) - Two Democratic U.S. senators on Thursday will add to the stack of bills going after Section 230 - a law that protects tech companies from being sued over content posted by users - making such platforms responsible for health-related misinformation.
The legislation introduced by Amy Klobuchar and Ben Ray Lujan requires internet platforms such as Facebook to take down health and vaccine-related misinformation during public health emergencies or be held liable for that failure.
It also directs the Department of Health & Human Services to issue guidelines on what constitutes health misinformation.
"These are some of the biggest, richest companies in the world and they must do more to prevent the spread of deadly vaccine misinformation," Klobuchar said.
The bill quotes a study from the Center for Countering Digital Hate that found social media platforms failed to act on 95% of coronavirus-related disinformation reported to them.
Kevin Martin, a vice president of public policy at Facebook, said the company supports reforming Section 230.
"We believe clarification on the difficult and urgent questions about health related misinformation would be helpful and look forward to working with Congress and the industry as we consider options for reform."
The Health Misinformation Act is not the first bill targeting tech firms' liability shield from Senator Klobuchar, who chairs the Senate antitrust subcommittee.
Earlier this year, she co-sponsored another bill called the Safe Tech Act with two fellow Democrats. It aims to make social media companies more accountable for enabling cyber-stalking, targeted harassment and discrimination on their platforms.
Just threw a grand at some otm puts expiring next week. If this drops 5% this week i should 10x my money.
Would you dare to harness the sun's power and use it for a living? Prepare to get surprised today! Aside from Facebook, which might turn into a metaverse, these energy sectors might be well-positioned as solar energy providers in our evolving society. Get your mind blown away with these outstanding ideas!
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Australia warns Facebook spreading misinformation via WhatsApp amid Sydney lockdown
New South Wales Health has issued a warning about misinformation circulating on WhatsApp that claims Sydney supermarkets will close as part of the ongoing lockdown, with owner Facebook saying it is working to limit the spread of misinformation on its private messaging app.
It was reported that a screenshot purporting to be from NSW Health saying that supermarkets would close for four days as part of the Covid-19 response was circulating on WhatsApp.
Supermarkets in NSW have remained open during the greater Sydney lockdown and are considered essential retail. In a statement on Friday, the state’s health department urged people not to take advice from anywhere but the official NSW Health channels.
“NSW Health is urging people to use trusted and credible sources of information to inform them about the most up-to-date Covid-19 information in NSW,” a spokesperson said.
Misinformation being circulated through group chats on WhatsApp has been an ongoing issue throughout the pandemic, not just in Australia but around the world.
Facebook will sail past $400 before the year is over, EZ. Most undervalued FAANG.
Lately FB has been like one of my favorite Bands.............Green Day, all day, every day......) Just remember one thing home gamers..., anytime FB gets hit big, anytime there is talk about regulation or boycotts that takes this stock down, just buy it, just buy it, period ! Fun Fact: I have never ever used FB, but it is my third largest position....BOOM !
Can someone give me an opinion on rather I should buy this b4 earnings, which I’m usually leery of? Though we may have speculations of what will be in the earnings report, it’s still a gamble at the end of the day,
What I like about this stock is that it”s undervalued and there is a lot of good and bad excitement in regards to it. 99% of time, those are the stocks that make money. Any unbiased thoughts? By the way, if you want the stock to go up or down bc you have a position in it, I’ll be able to tell. Thanks in advance! 😃
Mizuho Raises Price Facebook, Inc. (FB) $400.00 ➝ $450.00 Buy
FB will never split bcuz it has 2.4 billions OS already, they don't small time investors - r nuisance...but dividends is long overdue that MZ must declare sooner, if so SP will in high 3-digits easy...for new investors, this is your last chance N don't miss the boat...been holding this since May 2012 IPO and added more in 2013 when it tanked to twenties...GLTALI...
Anyone can check my posts from May, this is still the easiest money in the stock market while it’s under $400 after that it will be a slow increase of 10-15% gain per year. If you don’t let the “experts” in the media scare you, you will become rich off Facebook
As of 3:30 PM EST, we’re now up 5.5% with double the normal volume purchased of FB shares. Extraordinary interest today in FB. Next push is to $400.00
Thanks to my mentor Greg Maxwell, I bought bitcoin last week, sold this morning after waiting for the bounce as he instructed, and I am so happy I did so.. you can contact in via telegram @gregfxglobal
FB still trades in bargain territory before its Q2 “barn burner” earnings report that should launch the stock to the next level!
*** FB remains the retail investor’s best play and most reasonably priced FAANG — and the cheapest large cap growth stock in the S&P 500!!🤔📈👍
FB Stock: Bull Case
The big picture is that Facebook advertisers are using the social media site to connect with prospective customers like never before. The group of advertisers has grown to more than 10 million businesses from more than 8 million when the pandemic started.
The April 28 first-quarter earnings report showed revenue surging 48% to $28.1 billion, fueled by a 30% jump in ad prices. The price increase came even as the number of ad impressions served across Facebook properties grew 12%.
In the bull case, more and more businesses gravitate to Facebook, putting more of their ad dollars to work on its properties that deliver an industry-leading return on investment.
To protect and capitalize on its strong position, Facebook is innovating — and copying — rapidly. Its TikTok-like Instagram Reels is providing a new vehicle for advertising. Meanwhile, the Facebook Shops digital mall, first announced in May 2020, now has about 1.2 million active shops and more than 300 million shoppers, or at least browsers, per month, the company said on June 22.
Shops is Facebook's big effort to bring e-commerce purchases in-house, instead of just facilitating user-advertiser connections that result in off-site purchases. Businesses can set up a single shop for customers to access on Facebook, Instagram and now WhatsApp.
Bringing "the merchant transaction onto the platform removes the need for off-platform tracking," wrote Morgan Stanley analyst Brian Nowak. That lowers the risk of privacy-related changes and regulations that impede tracking of user activity outside of Facebook properties.
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