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“They have put their astronomical profits before people”: Facebook whistleblower slams big tech

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A former Facebook employee has slammed the social media company during a US hearing, saying the organisation “harms children, stokes division and weakens democracy”

Frances Haugen is the former product manager now turned whistleblower, and has appeared at a hearing on Capitol Hill.

Facebook has hit back at the claims, saying Haugen was speaking about the areas of the company in which she has no knowledge about.

This comes as scrutiny around the company’s operations and dealings grows… with many pushing for further regulation.

Both Republican and Democratic lawmakers who were conducting the hearing were united in the need for change at the organisation.

Democratic Senator Richard Blumenthal says this moment is the very definition of a bombshell.

Republican Senator Marsha Blackburn believes the social media giant “is not interested in making significant changes to improve kids’ safety on their platforms at least not when that would result in losing eyeballs on posts or decreasing their ad revenues.”

This all follows Haugen appearing on an episode of 60 minutes saying that Facebook continuously chooses profit over the mental health of its users.

At the hearing, Haugen also criticised the leadership of the company’s founder and CEO Mark Zuckerberg, saying no one is currently holding him accountable except for himself.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Is GenerativeAI transforming education?

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Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

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News

How AI is leveraging Amazon’s fast production

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Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

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Tech

Tesla is slashing prices to stay competitive

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Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.
Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.
On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.
Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.
The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.

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