Meta
Meta Faces €798 Million Penalty from EU for Anticompetitive Practices
November 15, 2024 – The European Commission has imposed a fine of €798 million on Meta today, citing the company’s violation of EU antitrust rules. According to the Commission, Meta unlawfully tied its online classified ads service, Facebook Marketplace, to its social media platform, Facebook, and imposed unfair trading conditions on other online classified ads…
Meta’s Reality Labs Continues to Invest Amidst 19% Revenue Growth in Q3
October 31, 2024 – Meta today released its unaudited financial results for the third quarter, reporting a revenue of 405.80billion,a19156.88 billion, marking a 35% year-over-year growth. Additionally, diluted earnings per share rose by 37% to $6.03. In September 2024, Meta’s “family” of services, including Meta, Instagram, WhatsApp, and Messenger, reached an average of 32.9 billion…
Meta Takes on OpenAI with Development of Proprietary AI Search Engine
October 29, 2024 – According to a report published by The Information on October 28th, Meta is currently developing an AI-powered search engine. This move is aimed at reducing the company’s reliance on Microsoft and Google, while also allowing it to keep pace with OpenAI’s advancements in the field of artificial intelligence. The report reveals…
Meta Fires Employees Over Abuse of $25 Meal Allowance
October 18, 2024 – According to a report by the Financial Times, Meta has terminated over 20 employees in Los Angeles due to the misuse of a $25 meal voucher. It is understood that Meta employees are entitled to a daily allowance of 70,whichincludesanadditional25 specifically designated for meals, essentially Grubhub credits for internal use within…
Meta’s Top AI Scientist Dismisses Concerns of AI Harming Humans
October 14, 2024 – Yann LeCun, the chief AI scientist at Meta, recently dismissed concerns about artificial intelligence posing a threat to human existence as “complete B.S.” in an interview with The Wall Street Journal. A pioneer in the field of artificial intelligence and a Turing Award winner, LeCun currently serves as a professor at…
Meta Ends Production of Quest Pro After Two-Year Run
September 27, 2024 – Meta has recently announced the discontinuation of its high-end virtual reality headset, the Quest Pro, with plans to clear out the inventory by the end of the year. Introduced in 2022, the Quest Pro received a lukewarm response from the market. While Meta did not explicitly state the reasons for halting…
Zuckerberg Highlights Meta’s Contrast with Apple: Prioritizing Feedback Over Acclaim
September 19, 2024 – In a recent podcast appearance on Acquired this week, Meta CEO Mark Zuckerberg made some noteworthy comments about his company’s approach, contrasting it with that of Apple. The tech mogul emphasized that Meta’s strategy stands in stark contrast to Apple’s in many respects. According to Zuckerberg, there’s no question of right…
Meta Revamps AI Training in the UK: Public Posts to Fuel Data Collection Next Week
September 14, 2024 – Meta, the tech giant, unveiled on September 13th its revitalized AI training initiative, committing to a responsible and transparent approach. This endeavor entails leveraging public posts from British users on Facebook and Instagram to refine its AI capabilities. In response to regulatory directives, Meta has introduced a revamped “opt-out” mechanism, enhancing…
Meta’s Llama AI Models Surpass 350 Million Global Downloads, with 3.1-405B Variant Emerging as the Favorite
September 04, 2024 – Meta has recently disclosed the download statistics of its open-source Llama AI model family on Hugging Face. Remarkably, the models were downloaded over 20 million times in August alone, with the global download count surpassing 350 million as of September 1st. According to reports, Meta released Llama 3 in April this…
Meta Rumored to Launch Budget-Friendly Quest 3S Headset Next Month, Controllers Sold Separately
August 26, 2024 – According to a report by Bloomberg’s Mark Gurman, Meta is poised to introduce a more budget-friendly version of its Meta Quest 3 headset in September, dubbed the Quest 3S. This simplified iteration of the Quest 3 is expected to retail between 300and400, offering a significantly lower price point compared to the…