|Day's Range||7.50 - 9.98|
Facebook CEO Mark Zuckerberg has announced a series of steps the social network is taking ahead of the 2020 U.S. presidential election to prevent interference from both foreign and domestic groups. Yahoo Finance's Jen Rogers, Andy Serwer and Brian Cheung weigh in on the new policies and whether or not Facebook is doing enough to stop misinformation campaigns.
Facebook is out with a new update regarding the 2020 election. Yahoo Finance's Dan Howley breaks down the details with Zack Guzman, Brian Cheung, and media entrepreneur and author Charreah Jackson on YFi PM.
Tight controls imposed by China have resulted in the ban of several foreign social media sites, like Facebook, but how did this come about?
(Bloomberg) -- Facebook Inc. Chief Executive Officer Mark Zuckerberg said employees are in touch with Elizabeth Warren’s campaign to address her concerns about the company’s decision to let politicians lie in ads.“Our teams are definitely in contact although I haven’t spoken to her personally about this,” he said in an interview that aired Monday on NBC Nightly News.Warren, a Democratic presidential candidate, recently ran a campaign ad saying Zuckerberg was endorsing Donald Trump. While the CEO is not doing that, she argued that he was in effect supporting Trump by allowing him to run ads with false information in them.Zuckerberg has said that politicians should be exempt from Facebook’s false advertising rules, so the media and the public can scrutinize what they have to say.Trump has been running video ads on Facebook claiming one of his key political rivals, Joe Biden, paid off Ukraine to fire a prosecutor investigating a company linked to his son, a claim that had already been debunked.To contact the reporter on this story: Sarah Frier in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- When political outsider Joko Widodo was first sworn in as Indonesia’s president five years ago, a little company called PT GO-JEK Indonesia was barely known. Their rise together since then has broken a technology barrier that was holding back the world’s fourth-most-populous country and promises the chance for a better future.Jokowi, as he’s known, is starting his second term with the dramatic, yet pragmatic, appointment to his cabinet of Nadiem Makarim, the chief executive officer and co-founder of what’s now called Gojek, which has gone from ride-hailing novelty to one of the engines of tech transformation in Indonesia.At the time of Jokowi’s first presidential run, his tech ambitions centered on attracting device manufacturing in a bid to diversify the economy away from dependency on mining and energy. Then governor of Jakarta, he worked hard to lure Taiwan’s Foxconn Technology Group to build a factory to manufacture iPhones and create thousands of jobs.A deal signed with Foxconn Chairman Terry Gou in February 2014 to invest $1 billion into Indonesia amounted to a de facto endorsement of Jokowi’s economic chops, helping the former furniture maker win election as Indonesia’s first president who didn’t hail from the traditional elite or the military.The Foxconn investment never materialized. But it never really had an impact on Jokowi’s standing as the development of Indonesia’s technology sector came from a very different direction. A play on the word ojek, or motorcycle taxi, Gojek was mostly operating as a call center for courier deliveries and motorbike rides when Jokowi took office. Three months later, Gojek launched the mobile app that would make it one of Southeast Asia’s biggest startups, with a valuation of around $10 billion.Today, Gojek offers ride hailing, food delivery, payments and a host of other digital products not just in Indonesia, a nation of some 265 million people, but throughout the region. More importantly for Jokowi, it has more than 2 million drivers and 400,000 merchants on its platform — creating far more jobs and livelihoods than an iPhone factory ever could.In Indonesia, Gojek is now a national champion. Its riders vie on Jakarta’s notoriously crowded streets with those of Singapore-based rival Grab Taxi Holdings Pte, both of them oddly liveried in green and black. They notably upended Uber Technologies Inc.’s expansion into Southeast Asia and are vigorously competing around the region, total population nearly 650 million.Now, Gojek will have a man on the inside. Harvard-educated Makarim, 35, resigned from the company Monday in order to join the cabinet, portfolio to be determined. The appointment is in line with Jokowi’s goal of bringing industry professionals and millennials into the inner circle. It’s hard to discern who’s the bigger winner. Imagine Mark Zuckerberg resigning from Facebook Inc. to join President Donald Trump’s cabinet. Neither carries the baggage of their American counterparts. But Makarim is a political novice and risks becoming just one more pawn in the constant maneuvering that consumes Indonesian governments.Jokowi set policies in motion early in his first term to open the economy. They have had mixed success. A deep streak of economic nationalism has long frustrated foreign direct investors. Growth has chugged along at a steady 5% for years. He has struggled against entrenched interests. Yet at a time when regulators and traditional taxi companies worldwide were pushing back against ride-hailing companies, Jokowi’s government refused to crush them. His biggest contribution may have simply been to get out of Gojek’s way. Being a local favorite hasn’t hurt Gojek. It now has a coveted e-money license, allowing it to offer financial services to millions of customers who don’t have a bank account or credit card. Grab now gets around this by teaming up with local partner OVO.Gojek isn’t alone in Indonesia’s expanded tech universe. Online travel provider Traveloka, e-commerce company Tokopedia and online marketplace Bukalapak have all become unicorns. From $8 billion in 2015, the internet economy grew to $40 billion this year and will triple again to $130 billion by 2025, according to a research report from Alphabet Inc.’s Google, Temasek Holdings Pte and Bain & Co.The common element: Each operates in a space called O2O, or online-to-offline. They leverage internet technology to deliver physical-world services, helping people eat, shop, and travel in a nation where infrastructure is unevenly parceled out across 18,000 islands straddling the Indian and Pacific oceans.A strong and viable digital services economy employing millions was an accidental achievement of Jokowi’s first term. It may not be enough to sustain future economic growth, however. The president and the entrepreneur will need to sit down and write the second act.To contact the author of this story: Tim Culpan at firstname.lastname@example.orgTo contact the editor responsible for this story: Patrick McDowell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Facebook Inc. said it will set up a dedicated U.K. operations center during the next election, to counter misinformation networks, fake news stories and outside interference from other countries.Britain has consistently criticized Russia for attempting to manipulate elections around the world, while insisting there’s no evidence of interference in U.K. votes such as the 2016 Brexit referendum. But Facebook has been accused of hosting misinformation and advertisements seen only by narrowly targeted audiences.Writing in the Telegraph newspaper, after the company announced it had discovered four separate misinformation networks tied to Iran and Russia, Facebook executive Richard Allan said the company knows that “social media can bring significant new risks to the political process.”“People who want to interfere unlawfully with the outcome of an election will use every available means to try and do so, including platforms like ours,” wrote Allan, vice president for public policy in Europe. “We’ve built stronger defenses to prevent people using our platforms to interfere with elections and we’re continuing to make improvements in several key areas.”Facebook has pledged to label content as “false” or “partly false,” using an independent fact-checker, and to expand scrutiny of ads that have political content.To contact the reporter on this story: Robert Hutton in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Tim Ross at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Twitter Inc. will create a new policy meant to combat manipulated media, including deep fake videos, ahead of the 2020 U.S. Presidential election.The company doesn’t currently have a policy for how to handle deep fakes, altered videos that distort a subject’s appearance or speech while still looking authentic. Twitter plans to create one, but will first ask the public for feedback, a spokesman said on Monday.Deep fakes and other misinformation have already been part of the 2020 election cycle. Earlier this year, a doctored video of House Speaker Nancy Pelosi that made the congresswoman look like she was slurring her words made the rounds on Facebook. The social-media giant refused to remove it, prompting rebukes from Pelosi and an eventual admission from Chief Executive Officer Mark Zuckerberg that Facebook should have flagged it as false more quickly.Facebook is also under pressure from Democratic presidential candidates for failing to fact-check political advertising after President Donald Trump shared an ad claiming known falsehoods about rival Joe Biden.To contact the reporter on this story: Kurt Wagner in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
FAANG stocks are popular. • Over a long stretch, Netflix’s stock significantly outperformed the Dow Jones Industrial Average (DJIA) S&P 500 Index (SPX) and the Nasdaq-100. • Netflix had been the darling of FAANG stocks.
Facebook said it would increase transparency through measures such as showing more information about the confirmed owner of a Facebook page and more prominently labeling content that independent fact-checkers have marked as false. The social media giant has come under fire in recent weeks over its policy of exempting ads run by politicians from fact-checking, drawing ire from Democratic presidential candidates Joe Biden and Elizabeth Warren. Last week, Facebook CEO Mark Zuckerberg defended the policy, saying social media had introduced transformative avenues for speech that should not be shut down.
(Bloomberg) -- Facebook Inc. discovered four separate misinformation networks -- three tied to Iran and one to Russia -- that the social network said it shut down as part of an ongoing effort to counter “foreign influence campaigns.”Facebook said the “coordinated inauthentic behavior” took aim at the U.S., North Africa and Latin America and included “proactive work ahead of the U.S. elections.” The company shared the findings with “law enforcement and industry partners.”The company said it removed 50 Instagram accounts and another Facebook account originating Russia and aimed at the U.S. The Russian effort had ties to the Internet Research Agency, a group that has previously been indicted for violating laws prohibiting U.S. election interference. Facebook said the effort had the “hallmarks of a well-resourced operation.”In addition, 93 Facebook accounts and four Instagram accounts that originated in Iran and focused on the U.S. or some French-speaking communities were removed, as well as dozens more targeting Latin America and other countries.In a blog post, the company also disclosed some adjustments to its policies meant to combat foreign influence and manipulation. Facebook will now identify posts from state-controlled media, provide more information about the country of origin for Facebook pages and help further secure political candidates’ Facebook pages.Following questions about its ability to identify and fight disinformation and influence campaigns on its platforms during the 2016 campaign, the social media company has been at the center of attention ahead of the 2020 U.S. presidential election. Facebook has gone to great lengths to tell voters and lawmakers that it’s taking misinformation more seriously — something it did ahead of the 2018 U.S. midterms as well.“We know that we have a big responsibility to secure our platform and stay ahead of some of these new threats to election security,” Chief Executive Officer Mark Zuckerberg said during a conference call Monday. “Personally this is one of my top priorities for the company.”Zuckerberg said that the company has faced “increasingly sophisticated attacks from nation states like Russia, Iran and China.”The company has already encountered harsh criticism, particularly around political advertising. Facebook’s policy is that it won’t fact-check posts from politicians, including ads, which has led to complaints from Democratic candidates such as Elizabeth Warren and Joe Biden.Zuckerberg said last week that he doesn’t believe it’s Facebook’s role to make decisions about posts from politicians.“I don’t think most people want to live in a world where you can only post things that tech companies judge to be 100% true,” he said Thursday during a speech at Georgetown University. “People should be able to see for themselves what politicians are saying.”The 50 Instagram accounts from Russia that were removed “reused or recreated” memes previously used by the country’s Internet Research Agency,” according to Graphika Inc., a company that uses artificial intelligence to map and analyze information on social media.In a report Monday, Graphika said that these accounts -- nearly half of which claimed to be from swing states, such as Florida -- included content expressing praise for Democratic presidential candidate Bernie Sanders and President Donald Trump, and attacked candidates Kamala Harris and Warren.Some accounts also posted screenshots of tweets by American users and occasionally posted viral text that was taken from other American social media accounts.The accounts “went to great lengths to hide their origins,” and over half of them had fewer than 5,000 followers -- though one reached over 20,000 -- Graphika said. It found just under 75,000 pieces of content posted by the Instagram accounts.“This shows that foreign actors are already building up for the 2020 election but they’re not having it all their own way,” said Ben Nimmo, the director of investigations at Graphika. “Facebook took this operation down while it was still building an audience. It means we all have to watch out for foreign interference, but it also shows that the platforms already are.”(Update with CEO comments in seventh paragraph.)To contact the reporters on this story: Eric Newcomer in New York at firstname.lastname@example.org;Kurt Wagner in San Francisco at email@example.com;Alyza Sebenius in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Libra will be the focus when Facebook CEO Mark Zuckerberg goes to Capitol Hill on Wednesday, but it won't be the only thorny issue he'll have to address.
Facebook Inc. says it has fortified its digital defenses to eradicate meddling in elections, and it’s already thwarted new interference attempts from Russian and Iran as a result.
Facebook is starting to make concessions with its Libra project amid all the skepticism from regulators and investors. David Marcus, the co-creator of the Facebook-backed cryptocurrency said that the Libra project could use national currency-backed stable coins instead of synthetic ones. Yahoo Finance's Dan Roberts, Julia La Roche and Brian Cheung discuss on YFi AM.
Facebook's upcoming news section will include headlines from publications like The Wall Street Journal, the Washington Post, and Buzzfeed News. Yahoo Finance's Alexis Christoforous, Brian Sozzi, and Dan Howley discuss.
Oct.21 -- Applied Techonomics senior advisor, Jeanne Zaino, discusses Facebook's 2020 election efforts. She speaks with Bloomberg's Sarah Frier and Taylor Riggs on "Bloomberg Technology".
Facebook revealed its plans to fight misinformation and voter suppression leading up to 2020. The announcement came the same day the social media giant said it removed four disinformation campaign that originated in Iran and Russia. Nick Thompson joins CBSN with a look at all the developments.
Facebook has taken down more suspicious accounts and announced details about its plan to protect the 2020 U.S. presidential election. CBS News national security reporter Olivia Gazis speaks to CBSN's "Red & Blue" about Facebook's strategy and the potential impact.
Oct.21 -- Facebook's CEO Mark Zuckerberg says on a conference call that recommendations passed to Pete Buttigieg's campaign should not be seen as an endorsement.
Oct.21 -- Facebook Inc. chief executive officer Mark Zuckerberg has privately recommended several potential hires to Pete Buttigieg’s presidential campaign, a rare example of direct political involvement from one of tech’s most powerful executives. Bloomberg's Tyler Pager has more on "Balance of Power."