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Tech

Meta’s stock is wrapping up a record year, spurred by cost cuts

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Meta is celebrating a triumphant year-end as its stock surges to unprecedented heights.

The remarkable turnaround can be attributed to a series of strategic cost-cutting measures that were implemented in the wake of a catastrophic incident in 2022.

In 2022, Meta faced a major crisis when a damaging news headline exposed significant privacy breaches and data leaks within the social media giant.

The public’s trust in the company was severely shaken, resulting in a sharp decline in its stock value.

However, Meta’s leadership responded decisively by prioritizing user data security and implementing stringent cost-cutting measures.

These actions not only restored public confidence but also streamlined the company’s operations, leading to impressive financial gains throughout 2023.

As the year draws to a close, Meta’s stock is now trading at record highs, marking a remarkable recovery from the challenges of 2022.

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Critics voice concerns over rushed social media ban

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The Australian legislation, pushed through Parliament with 33 other bills on the last sitting day, has sparked debate due to its rapid approval and limited public consultation.

While proponents argue the ban addresses mental health issues linked to excessive social media use, critics, including cybersecurity experts, warn of potential unintended consequences, such as driving young users to unregulated platforms.

Concerns also extend to the single-day consultation period, which saw 15,000 responses, indicating the community’s deep interest in the issue.

Craig Ford, co-founder of Cyber Unicorns, joined to discuss the controversial legislation.

He advocated embedding robust cyber education in schools as a more sustainable solution, highlighting the need to foster digital literacy among young Australians.

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Temu trouble for toy market as Christmas fast approaches

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The e-commerce platforms, known for cheap fast fashion, are now doubling down on toys just in time for the holidays.

 

These apps, often dubbed “digital dollar stores,” are gaining ground with bargain-hunting shoppers.

Toys have become one of Shein’s fastest-growing categories, with double-digit sales growth year-over-year. But regulators and toy companies warn about counterfeit goods on these platforms, raising safety concerns. Products resembling Mattel’s Hot Wheels and Spin Master’s Ms. Rachel dolls have been flagged as potential knock-offs.

Despite these warnings, companies like MGA Entertainment are considering selling on these platforms to tap into their growing user base. Shein and Temu are aggressively courting sellers, offering incentives like fee waivers and expanded access.

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Decentralisation is positioned to redefine internet infrastructure

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Depin technology is empowering users, allowing individuals to own, store, and curate their own data.

Depin is redefining how the internet operates by decentralising physical infrastructure, enabling users to own, store, and control their data.

This groundbreaking approach utilises decentralised nodes to enhance speed, security, and resilience while reducing dependence on centralised providers.

The technology offers a user-powered network that removes the vulnerabilities inherent in traditional centralised systems, addressing issues like outages and censorship.

By creating a decentralised ecosystem with over 13,500 nodes globally, it builds a more robust and accessible internet experience.

The concept borrows principles from blockchain and cryptocurrencies, enabling individuals to participate directly in network management.

CEO and co-founder of Influx Technologies, Daniel Keller, joins to discuss the transformative data technology.

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