Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Facebook’

Thumbs Down to Facebook’s Cryptocurrency

Posted by hkarner - 3. Juli 2019

Joseph E. Stiglitz, a Nobel laureate in economics, is University Professor at Columbia University and Chief Economist at the Roosevelt Institute. He is the author, most recently, of People, Power, and Profits: Progressive Capitalism for an Age of Discontent (W.W. Norton and Allen Lane).

Only a fool would trust Facebook with his or her financial wellbeing. But maybe that’s the point: with so much personal data on some 2.4 billion monthly active users, who knows better than Facebook just how many suckers are born every minute?

NEW YORK – Facebook and some of its corporate allies have decided that what the world really needs is another cryptocurrency, and that launching one is the best way to use the vast talents at their disposal. The fact that Facebook thinks so reveals much about what is wrong with twenty-first-century American capitalism.

In some ways, it’s a curious time to be launching an alternative currency. In the past, the main complaint about traditional currencies was their instability, with rapid and uncertain inflation making them a poor store of value. But the dollar, the euro, the yen, and the renminbi have all been remarkably stable. If anything, the worry today is about deflation, not inflation.The world has also made progress on financial transparency, making it more difficult for the banking system to be used to launder money and for other nefarious activities. And technology has enabled us to complete transactions efficiently, moving money from customers’ accounts into those of retailers in nanoseconds, with remarkably good fraud protection. Den Rest des Beitrags lesen »

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New Huawei Phones Won’t Come With Facebook, Instagram or WhatsApp

Posted by hkarner - 8. Juni 2019

Date: 07-06-2019
Source: The Wall Street Journal

Facebook is the latest company to restrict access to its products following the U.S. blacklisting of the Chinese tech giant

Facebook will no longer have its apps pre-installed on Huawei smartphones.

Facebook Inc. will no longer allow its apps to come pre-installed on mobile devices made by Huawei Technologies Co. following the U.S. blacklisting of the Chinese tech giant, dealing another blow to its booming smartphone business.

Facebook, which owns popular apps including Instagram and WhatsApp, is one of many software makers whose apps come pre-installed on Huawei phones, which outsold Apple Inc.’s iPhone globally in the first quarter of this year. Huawei is now second only to Samsung Electronics Co.

Huawei will no longer be able to pre-install those apps, according to a person familiar with the matter, though those who already own Huawei phones will continue to have access to Facebook apps and updates. It isn’t clear if Huawei phone users without the apps will be able to download the apps and updates themselves. Den Rest des Beitrags lesen »

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Tech Giants Rethink the Businesses That Made Them Big

Posted by hkarner - 7. Mai 2019

Date: 06-05-2019
Source: The Wall Street Journal

Facebook, Apple, Amazon and Google are seeking out new places to disrupt, but analysts say future ventures will likely be costly

Facebook CEO Mark Zuckerberg spent the company’s annual developer conference talking up his vision for a Facebook more focused on private messaging.

Google, Facebook Inc. and other tech giants have long tinkered with ways to grow outside the core businesses they dominate. Now those efforts are becoming urgent.

Facebook Chief Executive Mark Zuckerberg, beset by public anger over abuses on the social network, spent the company’s annual developer conference last week talking up his vision for a Facebook more focused on private messaging and small groups than on the advertising-driven social-media hub that gained it nearly 2.4 billion monthly users.

Messaging is one of several areas Facebook has been eyeing for new opportunities. Another got the spotlight last week when The Wall Street Journal reported that Facebook is recruiting financial firms and online merchants to help launch a cryptocurrency-based payments system.

Apple Inc., meanwhile, said last week its sales-and-profit slump extended into a second straight quarter—the first time that has happened in more than two years—thanks to falling sales of the iPhone, the product that turned it into a colossus. Its response has been to try to morph itself into a services company fueled by app and entertainment sales as much as hardware. Den Rest des Beitrags lesen »

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Facebook Looks to Build Underwater Ring Around Africa

Posted by hkarner - 9. April 2019

Date: 08-04-2019
Source: The Wall Street Journal

Plans for undersea cable, dubbed ‘Simba,’ are aimed at lowering its bandwidth costs and strengthening link to African market

Facebook’s project would give its European and Asian data centers a dedicated and reliable link to growing African markets.
Facebook Inc. is circling Africa. Literally.

The company is in talks to develop an underwater data cable that would encircle the continent, according to people familiar with the plans, an effort aimed at driving down its bandwidth costs and making it easier for the social media giant to sign up more users.

The three-stage project, named Simba after the lead character in “The Lion King,” could link up with beachheads in several countries on the continent’s eastern, western and Mediterranean coasts, though the exact route and number of landings is in flux, the people said. Den Rest des Beitrags lesen »

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Scandals suggest standards have slipped in corporate America

Posted by hkarner - 7. April 2019

Date: 06-04-2019
Source: The Economist

Boeing, Goldman Sachs and Facebook are among the companies in hot water

Two things stand out about business in America today. One is how successful American firms are: they account for 57 of the world’s 100 most valuable listed firms. The other is the bad smell hanging over a number of powerful companies.

Boeing faces claims that it sold 737 max planes with dangerous software. It says it is “taking actions to fully ensure the safety of the 737 max”. Criminal charges have been filed against Goldman Sachs in Malaysia for its role in arranging $6.5bn of debt for a state-run fund that engaged in fraud. Goldman says it is co-operating with investigators. A jury in California has just found that Monsanto failed to warn a customer that its weedkiller could, allegedly, cause cancer. Bayer, a German firm which bought Monsanto in June, says it will appeal the verdict. Den Rest des Beitrags lesen »

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What’s Worse Than Facebook?

Posted by hkarner - 8. Januar 2019

Date: 07-01-2019
Source: The Wall Street Journal By Crispin Sartwell

China has made social media an instrument of oppression.

Facebook CEO Mark Zuckerberg speaks in Paris, May 24, 2018.

Social media faces a dilemma: Mark Zuckerberg or Xi Jinping?
Despite the many drawbacks, I’d go with Mr. Zuckerberg.

The moral panic surrounding social media and Facebook in particular now stretches from horizon to horizon. “Social media are doomsday machines,” writes Jason Pontin in Wired. “They distract, divide, and madden; we can no longer hear each other, speak coherently, or even think. As a result, our social, civic, and political ligands are dissolving.” This sort of agitation may make almost any measure seem preferable to letting Instagram impose cretinism and anarchy on society.

In reality, social media poses a nest of problems, but it is not the source of them. Racism, sexism and stupidity were possible before it. So were otherwise-unaccountable victories of whatever political party one happens to oppose, And government regulation of social media is liable to be—is already proving to be—an even bigger problem. That’s clear in China, which has turned regulation of the internet to the purposes of a simultaneously traditional and innovative 21st-century totalitarianism. Den Rest des Beitrags lesen »

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Revealed: how Italy’s populists used Facebook to win power

Posted by hkarner - 19. Dezember 2018

Date: 17-12-2018
Source: The Guardian

Matteo Salvini and Luigi Di Maio eclipsed rivals in online election battle, data shows

The domination of Facebook by Italy’s two populist political leaders, Matteo Salvini and Luigi Di Maio, is revealed in previously unseen data that shows how they exploited video and live broadcasts to bypass the mainstream media and foment discord during the country’s general election.

The data, reviewed by the Guardian, reveals how the leaders massively expanded their reach with inflammatory and visually arresting posts earlier this year, eclipsing their main rival, the centre-left former prime minister Matteo Renzi, on Facebook.

The Facebook data, which captured the engagement metrics on thousands of posts by the six major party leaders in the two months leading up to the election, was collected by academics at the University of Pisa’s MediaLab.

It reveals all of the 25 most shared Facebook posts in the two months leading up to the election were videos, live broadcasts or photos from either Salvini, who runs the far-right League, or Di Maio, the leader of the anti-establishment Five Star Movement (M5S). Den Rest des Beitrags lesen »

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Facebook Faces Potential $1.63 Billion Fine in Europe Over Data Breach

Posted by hkarner - 2. Oktober 2018

Date: 01-10-2018
Source: The Wall Street Journal

Privacy watchdog looks into whether social network violated European’s Union new privacy law

Facebook CEO Mark Zuckerberg at the European Parliament in Brussels in May. He said Friday that the social network is still trying to determine many details around the scope and impact of the data breach.

A European Union privacy watchdog could fine Facebook Inc. as much as $1.63 billion for a data breach announced Friday in which hackers compromised the accounts of more than 50 million users, if regulators find the company violated the bloc’s strict new privacy law.

Ireland’s Data Protection Commission, which is Facebook’s lead privacy regulator in Europe, said Saturday that it has demanded more information from the company about the nature and scale of the breach, including which EU residents might be affected.

In an emailed statement, the regulator said it is “concerned at the fact that this breach was discovered on Tuesday and affects many millions of user accounts but Facebook is unable to clarify the nature of the breach and the risk for users at this point.” Den Rest des Beitrags lesen »

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Big Tech’s Business Model Is Broken, Report Says

Posted by hkarner - 26. September 2018

Date: 25-09-2018
Source: The Wall Street Journal

Industry giants deserve tougher regulation, including scrutiny of deals that let them suck up more data

A new report is calling for stronger regulation of technology companies.

Silicon Valley tech giants can’t be trusted to police themselves and should be subject to tougher regulation, including around their pattern of acquiring competitors to accumulate ever-larger stores of user data, according to a critical new report released Monday.

The business models powering digital advertising platforms like Facebook Inc. and Alphabet Inc.’s Google still undermine user privacy and incentivize disinformation campaigns despite recent efforts by tech companies to prevent abuse, says the report from Harvard’s Shorenstein Center on Media, Politics and Public Policy and New America, a left-leaning Washington-based think tank.

“We need to completely reorganize the way that industry works,” said Dipayan Ghosh, who previously worked on privacy and policy issues at Facebook and is now a fellow at the Shorenstein Center. Den Rest des Beitrags lesen »

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Facebook to Banks: Give Us Your Data, We’ll Give You Our Users

Posted by hkarner - 8. August 2018

Date: 07-08-2018
Source: The Wall Street Journal

Facebook has asked large U.S. banks to share detailed financial information about customers as it seeks to boost user engagement

Facebook is trying to deepen user engagement after it said last month its growth is slowing, stunning investors. One tactic it is exploring is to get banks to work closely with Facebook Messenger.

Facebook Inc. wants your financial data.

The social-media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances, as part of an effort to offer new services to users.

Facebook increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends. The company over the past year asked JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and U.S. Bancorp to discuss potential offerings it could host for bank customers on Facebook Messenger, said people familiar with the matter.

Facebook has talked about a feature that would show its users their checking-account balances, the people said. It has also pitched fraud alerts, some of the people said. Den Rest des Beitrags lesen »

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