Meta Platforms Inc (NASDAQ: FB) conducted a study to determine how people would react if they eliminated basic features, such as the like and share buttons. The company found that the like button causes anxiety for young Instagram users whenever they get few likes. However, upon further examination, Meta found that hiding the button did not lessen their anxiety or encourage them to post more often. Moreover, users integrated less with posts if the company hid the like button.
Meta whistleblower believes CEO should step down
Frances Haugen was responsible for the leak of the findings of this study along with other internal documents. The whistleblower, who leaked the files to the Securities and Exchange Commission, the Wall Street Journal, and lawmakers recently released a statement saying improvement would only be possible if the founder and CEO of Meta, Mark Zuckerberg, were to step down from his position in the company.
The leaked files show how the Meta algorithm amplifies the spread of hate speech and misinformation. As a result of the controversy, tech safety advocates have asked Zuckerberg to step down as CEO.
Despite issues with the company, Zuckerberg recently announced the name change from Facebook to Meta and discussed his plans to venture into the metaverse. Haugen has criticized the move saying that the company should focus more on ensuring safety on Meta instead of venturing into new avenues.
Bernstein Liebhard files lawsuit against Meta
Bernstein Liebhard, an investors rights law firm, reminds Meta investors to file a lead plaintiff motion in a securities class action lawsuit against Meta by December 27, 2021. The law firm, which files lawsuits on behalf of investors, will represent investors that purchased Meta securities between November 3, 2016, and October 4, 2021. The firm alleges that the company violated the securities act of 1934.
Despite the controversy, Meta is going ahead with its plans to release a new smartwatch. The company was to release the device at the start of 2022. However, Steve Moser, an app developer, recently released a photo of Meta’s smartwatch.
Meanwhile, Tubular Labs has launched a system that uses Gross Ratings Points (GRPs) on non-perishable videos from YouTube and Meta. The system will allow customers to plan and measure viewership, compare channel performance, and optimize investments in Youtube and Meta.
