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Is Meta a shield against scrutiny for Zuckerberg? | ticker VIEWS

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Is Facebook’s rebrand just a strategic move to create a portfolio of CEO’s that allow the founder to move into a space that is removed from scandal and scrutiny?

MAT COLE ON

Facebook has officially announced that it will change its name to meta, signalling a new era for the social media giant.

The name change follows months of scrutiny and growing public distrust around the social media giant.

The shift will see a new focus on becoming a computing platform specialising in virtual reality and the metaverse.

Chief Executive and Founder Mark Zuckerberg says the metaverse is the next frontier and from now on the company will be metaverse first, not Facebook first.

But Facebook is under fire – so is Zuck looking to play the blame game?

Mat Cole from ACT media ventures this sort of re architecture of their portfolio, allows the appointment of CEOs for WhatsApp, CEO for Facebook and a CEO for Instagram, but Zuck will always controls the company

META

“Expect a new Facebook CEO, who will be the one facing the senate enquiries, while the founder and actual leader of Facebook will be of wearing Facebook glasses on morning television”

COLE SAID.

“Mark Zuckerberg as a founder, can now move away and create a shield from all the bad press that they’re getting.”

But behind the speeches, feel good stories about Facebook’s growth and ultimately – a rebrand, what will change?

Cole says the data policies across all of their business will not change and has not changed.

“By allowing him to pull in CEOs, what it does is every time that there is a controversy, and Facebook has a an amazing history of 10 years, you no longer have consistent controversies,” he told ticker.

META

“Instead of turning up and sitting in front of Congress and be grilled, he can say no, not me. Go and speak to the CEO of Facebook, or go and speak to the CEO of WhatsApp, or go and speak to the CEO of Instagram.”

Are people all going to flock to this idea of virtual reality?

META

“We’re not all going to buy VR goggles and jump into work. Like that’s that’s just not going to happen,” Cole says.

“Facebook’s users are an older group, which have a less likelihood of being able to jump in and buy virtual reality headsets. They’re just not going to do that.”

Cole says the Metaverse is part of a broader conversation, “a disconnected, interoperable, landscape of technology.”

“So I can take my avatar from work, play, to dating, and all of that can happen in the metaverse. It doesn’t happen in these, centralised environments. And that’s what Facebook talking about.”

“So it’s quite wrong in terms of what the metaverse is. So I think, it doesn’t always have to be in VR goggles, which is a lot of what Facebook is, is talking about adoption being predicated upon.”

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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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TikTok launches Instagram competitor ‘Notes’

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TikTok Notes has launched in Australia & Canada as a formidable competitor to Instagram, offering a unique platform for content creation, text and sharing.

“TikTok Notes is a lifestyle platform that offers informative photo-text content about people’s lives, where you can see individuals sharing their travel tips and daily recipes,” reads the official App Store description.

Take note

The app allows users to create content by combining short videos with text-based notes, closely resembling that of Meta’s Instagram.

Whether it’s sharing a quick tutorial, a personal anecdote, or a thought-provoking message, TikTok Notes is positioned to be a formidable social media platform.

Currently, the app is only available for download and “limited testing” in Australia and Canada.

As it gains momentum, the platform is poised to contest Instagram’s established reign in the social media landscape.

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Ramifications of a TikTok ban to impact Open Internet

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The United States’ longstanding advocacy for an open internet faces a critical juncture as Congress considers legislation targeting TikTok.

The proposed measures, including a forced sale or outright ban of TikTok, have sparked concerns among digital rights advocates and global observers about the implications for internet freedom and international norms.

For decades, the U.S. has championed the concept of an unregulated internet, advocating for the free flow of digital data across borders.

However, the move against TikTok, a platform with 170 million U.S. users, has raised questions about the consistency of America’s stance on internet governance.

Read more – Big tech to handover misinformation data

Critics fear that actions against TikTok could set a precedent for other countries to justify their own internet censorship measures.

Russian blogger Aleksandr Gorbunov warned that Russia could use the U.S. decision to justify further restrictions on platforms like YouTube.

Similarly, Indian lawyer Mishi Choudhary expressed concerns that a U.S. ban on TikTok would embolden the Indian government to impose additional crackdowns on internet freedoms.

Moreover, the proposed legislation could complicate U.S. efforts to advocate for an internet governed by international organizations rather than individual countries.

China, in particular, has promoted a vision of internet sovereignty, advocating for greater national control over online content.

A TikTok ban could undermine America’s credibility in urging other countries to embrace a more open internet governed by global standards.

 

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