By Kurt Wagner Bloomberg
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- News
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Mark Zuckerberg Plans 30% Budget Cuts To Build Metaverse, Layoffs Loom
Meta Platforms Inc.'s Mark Zuckerberg is expected to meaningfully cut resources for building the so-called metaverse, an effort that he once framed as the future of the company and the reason for changing its name from Facebook Inc.
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Elon Musk's X To Deploy AI To Write Community Notes, Speed Up Fact-Checking
Elon Musk's X will start to publish Community Notes written by artificial intelligence agents, a move to increase the speed of the social network's fact-checking product and expand it to reach more people.
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Meta Superintelligence Labs: Zuckerberg Announces New Group For AI Projects
Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg announced a major restructuring of the company's artificial intelligence group, including a commitment to developing AI "superintelligence,".
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Meta Faces FTC Trial With Instagram, WhatsApp Breakup at Risk
The US Federal Trade Commission is targeting Meta's deals for Instagram and WhatsApp in a landmark antitrust lawsuit set to go to trial Monday, alleging that the acquisitions were illegal, should never have been approved and should be broken up.
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Meta Starts Eliminating Jobs in Shift to Find AI Talent
Meta has started notifying “low-performers” that they are being laid off. The company is scouring for new talent to dominate the AI race. The company is offering US-based employees severance packages that include 16 weeks of salary, in addition two weeks for each year of service.
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Meta Bans Accounts Tracking Private Jets for Mark Zuckerberg, Elon Musk
Meta has removed several accounts across Threads and Instagram that were used to track celebrities’ private jets. The accounts, which rely on publicly available information to track a jet’s location and CO2 emissions, among other details, were banned without warning this week after Meta updated its privacy policy.
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Elon Musk's X Sued for $20 Million in Shares by Ex-Twitter Chairman
A former Twitter chairman has sued Elon Musk's X platform for $20 million in shares, after the billionaire allegedly refused to pay the ex-executive's compensation. Earlier this year, former Twitter executives previously sued Elon Musk for allegedly withholding more than $128 million in severance payments after they were ousted.
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Elon Musk-Owned X to Summarise News Events Within App Using Grok AI
X, the social network owned by Elon Musk, will start summarizing news events inside the app by using xAI’s chatbot, Grok. The AI-generated summaries will rely on user tweets — not third-party news articles — and will only be available to premium subscribers, the company announced on Friday.
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Meta Said to Ask Managers, Directors to Return to Making Things or Leave in Efficiency Push
Meta is said to have asked many of its managers and directors to transition to individual contributor jobs or leave the Facebook parent firm. The company reduced its workforce by 13 percent last November, during its first major layoffs.
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Twitter Files: Elon Musk's Twitter Leak Raises Concern Over External Access to User Data
Elon Musk's "Twitter Files" leaks have provided outside writers unprecedented access to Twitter information, raising concern about external access to Twitter data and user accounts. Twitter's new CEO handed a collection of internal documents and emails from former Twitter employees over to external writers, who are now publishing those documents on...
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Before Elon Musk, Twitter Had More Than 7,000 Workers. It Is Down To...
Elon Musk laid off more Twitter Inc. workers from the sales side of the social network's business beginning late on Sunday, further trimming a staff that had already been decimated by cuts and resignations.
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Elon Musk's Last-Ditch Reach-Out Couldn't Stop Mass Twitter Resignations
So many employees decided to take severance that it created a cloud of confusion over which people should still have access to company property. Twitter closed its offices until Monday, according to a memo viewed by Bloomberg.
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Elon Musk's Email To Twitter Staff Asks Them To Answer a Single Question
Elon Musk sent an email to Twitter Inc. employees requiring them to pledge to stay with the company, working long hours at "high intensity" during its transformation, or to accept a buyout.
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Mark Zuckerberg Preps Executives For Job Cuts Starting Today
Facebook parent Meta Platforms Inc. is planning to begin widespread job cuts on Wednesday, according to people familiar with the matter, part of a plan to reduce costs at the social-media giant following disappointing earnings and a drop in revenue.
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Twitter Calls Back Several Employees: "Fired In Error Or Too Essential"
Twitter Inc. is heading into its second full workweek under Elon Musk with half its workforce, mounting losses and a couple of unexpected reversals to its plans.
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Mark Zuckerberg Plans 30% Budget Cuts To Build Metaverse, Layoffs Loom
Meta Platforms Inc.'s Mark Zuckerberg is expected to meaningfully cut resources for building the so-called metaverse, an effort that he once framed as the future of the company and the reason for changing its name from Facebook Inc.
-
Elon Musk's X To Deploy AI To Write Community Notes, Speed Up Fact-Checking
Elon Musk's X will start to publish Community Notes written by artificial intelligence agents, a move to increase the speed of the social network's fact-checking product and expand it to reach more people.
-
Meta Superintelligence Labs: Zuckerberg Announces New Group For AI Projects
Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg announced a major restructuring of the company's artificial intelligence group, including a commitment to developing AI "superintelligence,".
-
Meta Faces FTC Trial With Instagram, WhatsApp Breakup at Risk
The US Federal Trade Commission is targeting Meta's deals for Instagram and WhatsApp in a landmark antitrust lawsuit set to go to trial Monday, alleging that the acquisitions were illegal, should never have been approved and should be broken up.
-
Meta Starts Eliminating Jobs in Shift to Find AI Talent
Meta has started notifying “low-performers” that they are being laid off. The company is scouring for new talent to dominate the AI race. The company is offering US-based employees severance packages that include 16 weeks of salary, in addition two weeks for each year of service.
-
Meta Bans Accounts Tracking Private Jets for Mark Zuckerberg, Elon Musk
Meta has removed several accounts across Threads and Instagram that were used to track celebrities’ private jets. The accounts, which rely on publicly available information to track a jet’s location and CO2 emissions, among other details, were banned without warning this week after Meta updated its privacy policy.
-
Elon Musk's X Sued for $20 Million in Shares by Ex-Twitter Chairman
A former Twitter chairman has sued Elon Musk's X platform for $20 million in shares, after the billionaire allegedly refused to pay the ex-executive's compensation. Earlier this year, former Twitter executives previously sued Elon Musk for allegedly withholding more than $128 million in severance payments after they were ousted.
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Elon Musk-Owned X to Summarise News Events Within App Using Grok AI
X, the social network owned by Elon Musk, will start summarizing news events inside the app by using xAI’s chatbot, Grok. The AI-generated summaries will rely on user tweets — not third-party news articles — and will only be available to premium subscribers, the company announced on Friday.
-
Meta Said to Ask Managers, Directors to Return to Making Things or Leave in Efficiency Push
Meta is said to have asked many of its managers and directors to transition to individual contributor jobs or leave the Facebook parent firm. The company reduced its workforce by 13 percent last November, during its first major layoffs.
-
Twitter Files: Elon Musk's Twitter Leak Raises Concern Over External Access to User Data
Elon Musk's "Twitter Files" leaks have provided outside writers unprecedented access to Twitter information, raising concern about external access to Twitter data and user accounts. Twitter's new CEO handed a collection of internal documents and emails from former Twitter employees over to external writers, who are now publishing those documents on...
-
Before Elon Musk, Twitter Had More Than 7,000 Workers. It Is Down To...
Elon Musk laid off more Twitter Inc. workers from the sales side of the social network's business beginning late on Sunday, further trimming a staff that had already been decimated by cuts and resignations.
-
Elon Musk's Last-Ditch Reach-Out Couldn't Stop Mass Twitter Resignations
So many employees decided to take severance that it created a cloud of confusion over which people should still have access to company property. Twitter closed its offices until Monday, according to a memo viewed by Bloomberg.
-
Elon Musk's Email To Twitter Staff Asks Them To Answer a Single Question
Elon Musk sent an email to Twitter Inc. employees requiring them to pledge to stay with the company, working long hours at "high intensity" during its transformation, or to accept a buyout.
-
Mark Zuckerberg Preps Executives For Job Cuts Starting Today
Facebook parent Meta Platforms Inc. is planning to begin widespread job cuts on Wednesday, according to people familiar with the matter, part of a plan to reduce costs at the social-media giant following disappointing earnings and a drop in revenue.
-
Twitter Calls Back Several Employees: "Fired In Error Or Too Essential"
Twitter Inc. is heading into its second full workweek under Elon Musk with half its workforce, mounting losses and a couple of unexpected reversals to its plans.
