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Instagram co-founder Kevin Systrom has testified against Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>) CEO Mark Zuckerberg, alleging that the latter intentionally impeded Instagram&#8217;s growth. This testimony supports the U.S. Federal Trade Commission&#8217;s ongoing monopoly trial, which could potentially result in the break-up of Meta.
What Happened: Systrom accused&nbsp;Meta of not providing adequate resources to Instagram post its acquisition in 2012, thereby limiting its growth potential, as <a href="https://www.ft.com/content/338314e8-8127-4de3-8b92-a85223856f6f">reported</a> by the&nbsp;Financial Times. The FTC&#8217;s case alleges that Meta deliberately curtailed Instagram&#8217;s growth to prevent a &#8220;network collapse&#8221; of Facebook.
Systrom further stated that Zuckerberg&#8217;s perception of Instagram as a threat to Facebook&#8217;s growth was a key factor behind the decision to withdraw several&nbsp;tools initially provided by Meta&nbsp;to aid Instagram&#8217;s growth. He also claimed that Meta&#8217;s failure to provide the necessary staff for Instagram&#8217;s growth was &#8220;one of the reasons&#8221; he left the company in 2018.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/25/04/44942218/bill-ackman-praises-treasury-secretary-scott-bessent-as-steady-hand-ahead-of-world-bank-imf-spring-meetings">Bill Ackman Praises Treasury Secretary Scott Bessent As &#8216;Steady Hand&#8217; Ahead Of World Bank-IMF Spring Meetings</a>
Meta has refuted these allegations, stating that &#8220;out-of-context&nbsp;and years-old documents about acquisitions&nbsp;that were reviewed by the&nbsp;FTC more than a decade&nbsp;ago will not obscure the&nbsp;realities of the competition we&nbsp;face or overcome the FTC's&nbsp;weak case.&#8221;
Why It Matters: The trial is ongoing, with Meta&#8217;s lawyer cross-examining Systrom, arguing that&nbsp;the social media company had&nbsp;helped drive growth at Instagram,&nbsp;which had just 13 staff&nbsp;and no revenue when it&nbsp;was acquired.
This trial follows a series of allegations against Meta. As the trial began, former FTC Chair Lina Khan accused <a href="https://www.benzinga.com/general/social-media/25/04/44799581/no-expiration-date-on-metas-antitrust-case-says-former-ftc-chair-ahead-of-trial">Meta of using monopoly power</a> to acquire smaller rivals like Instagram and WhatsApp. 
The FTC also alleged that Meta used a <a href="https://www.benzinga.com/25/04/44821791/meta-platforms-used-buy-or-bury-strategy-to-monopolize-social-media-ftc-says">&#8220;buy or bury&#8221; strategy</a> to monopolize social networking, highlighting a 2008 email from Zuckerberg stating it was "better to buy than compete". 
The FTC&#8217;s lawsuit claims that Meta has illegally built a &#8220;social networking monopoly&#8221; through years of &#8220;anticompetitive conduct.&#8221; If the government wins the case, <a href="https://www.benzinga.com/news/25/04/44888906/meta-faces-an-antitrust-lawsuit-ftc-says-company-holds-a-social-network-monopoly">Meta could be forced to sell off Instagram and WhatsApp</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/04/44941025/tesla-optimus-robot-hit-by-chinas-rare-earth-magnet-crackdown-elon-musk-says-thousands-may-be-ready-by-year-end-but-no-guarantees-when-you-have-a-complex-manufactured-product">Tesla Optimus Robot Hit By China&#8217;s Rare Earths Crackdown — Elon Musk Says Thousands May Be Ready By Year-End, But No Guarantees</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Mark Zuckerberg Accused Of Starving Instagram's Growth By Co-Founder Kevin Systrom In A Testimony Supporting FTC Breakup Case

In the ongoing antitrust trial against&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), decade-old emails from CEO Mark Zuckerberg have taken center stage.
What Happened: The Federal Trade Commission (FTC) has been scrutinizing Zuckerberg&#8217;s emails, some of which are over 10 years old, during the trial. These emails disclose Zuckerberg&#8217;s long-held apprehensions about potential antitrust issues.
In a 2018 email to senior Facebook executives, Zuckerberg voiced concern that the company&#8217;s growth trajectory could invite antitrust regulation. This email was emphasized by the FTC&#8217;s lead attorney, Daniel Matheson, during the trial.
The emails also shed light on Zuckerberg&#8217;s worries about rising competitors and his candid evaluations of Facebook&#8217;s key deals. In a 2012 email to COO Sheryl Sandberg, Zuckerberg discussed the necessity to acquire Instagram due to its swift growth, reports <a href="https://www.businessinsider.com/zuckerberg-meta-antitrust-trial-emails-ftc-2025-4">the</a> Business Insider.
If the FTC emerges victorious in the case, it could potentially force Meta to divest Instagram and WhatsApp. However, legal experts argue that proving Meta established its monopoly through these acquisitions will be a tough task, given that the FTC had previously greenlit these mergers.
Also Read: <a href="https://www.benzinga.com/tech/25/04/44780047/mark-zuckerbergs-empire-in-jeopardy-as-meta-faces-antitrust-battle-in-court">Mark Zuckerberg&#8217;s Empire in Jeopardy as Meta Faces Antitrust Battle in Court</a>
Mark Hansen, Meta&#8217;s lead attorney, has tried to downplay the importance of Zuckerberg&#8217;s emails, suggesting that worrying about competition is a standard part of a CEO&#8217;s job.
Why It Matters: The emergence of Zuckerberg&#8217;s old emails as key evidence in the trial underscores the FTC&#8217;s determination to hold Meta accountable for potential antitrust violations. 
The emails not only reveal Zuckerberg&#8217;s longstanding concerns about antitrust issues but also his strategic moves to neutralize emerging competitors. The outcome of this trial could have far-reaching implications for Meta and other tech giants, potentially reshaping the digital landscape. 
If the FTC wins, it could set a precedent for future antitrust cases, signaling a tougher regulatory environment for big tech companies.
Read Next
<a href="https://www.benzinga.com/tech/25/03/44209921/meta-secretly-keeps-block-lists-of-ex-employee-former-google-hr-chief-calls-it-unheard-of" target="_blank" rel="noreferrer noopener">Meta Secretly Keeps ‘Block' Lists of Ex-Employee, Former Google HR Chief Calls It ‘Unheard Of'</a>
Image: Shutterstock

Zuckerberg's Leaked Emails Show His Rivals Lived Rent-Free in His Mind

In a significant market downturn since President Donald Trump announced new tariffs worldwide, the world&#8217;s wealthiest individuals have seen their fortunes shrink by $74 billion.
What Happened: The market turmoil following Trump&#8217;s sweeping tariffs led to a considerable loss in wealth for the top 10 richest people globally. The S&amp;P 500 experienced a near 5% drop,&nbsp;the Dow lost 1,679 points,&nbsp;and the Nasdaq composite plunged&nbsp;6%.
Elon Musk, who has been facing public backlash for his association&nbsp;with the White House DOGE&nbsp;office and subsequent boycotts against&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), saw his net worth decrease by $11 billion. Musk&#8217;s wealth is primarily tied to his stake in Tesla.
Similarly, Jeff Bezos,&nbsp;the founder and executive chairman&nbsp;of&nbsp;Amazon&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), suffered a $15.9 billion reduction in his wealth.&nbsp;Meta&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>)&nbsp;Mark Zuckerberg&nbsp;lost $17.9 billion amid criticism over the rollback of fact-checking on Meta platforms.
Other billionaires who felt the impact include&nbsp;Warren Buffett&nbsp;of&nbsp;Berkshire Hathaway&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>),&nbsp;Bernard Arnault&nbsp;of LVMH (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMUY#OTC">LVMUY</a>),&nbsp;Bill Gates,&nbsp;Larry Ellison&nbsp;of&nbsp;Oracle&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>),&nbsp;Larry Page&nbsp;and&nbsp;Sergey Brin&nbsp;of&nbsp;Alphabet&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and former Microsoft CEO&nbsp;Steve Ballmer.
Why It Matters: The significant loss in wealth for these billionaires underscores the far-reaching impact of Trump&#8217;s tariffs on the global economy. 
The market downturn not only affects the world&#8217;s richest but also has potential implications for average investors and the broader economy. 
The tariffs, intended to protect domestic industries, have sparked market chaos and uncertainty, leading to significant financial losses for some of the world&#8217;s most influential business leaders.
Shutterstock: Nmorguelan

AMZN

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LVMUY

ORCL

TSLA

$74 Billion Wiped Out Since Tariff Declaration — See How Much The Billionaires Lost

Sarah Wynn-Williams, a former executive at&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), has been prohibited from publicizing her memoir, which provides an insider&#8217;s account of her tenure at the company. But the publicity surrounding Meta&#8217;s efforts to block the book have made it a bestseller.
What Happened: An independent arbitrator ruled that Wynn-Williams is not allowed to respond to any of the numerous&nbsp;interview requests she has received&nbsp;from journalists in the US and the UK. This decision is based on a non-disparagement agreement she signed when she was dismissed by Meta in 2017.
The ruling also prevents her from discussing the issue with legislators in the US, London, and the European Union. This is the most recent action by Meta in its ongoing efforts&nbsp;to discredit Wynn-Williams and her&nbsp;memoir Careless&nbsp;People: A Cautionary Tale of&nbsp;Power, Greed, and Lost Idealism, <a href="https://www.washingtonpost.com/technology/2025/03/22/meta-wynn-williams-book-zuckerberg-sandberg/">reports</a> The Washington Post.
The memoir, which is currently third&nbsp;on the Amazon bestsellers list,&nbsp;details Wynn-Williams&#8217; six-year stint at Meta. She alleges that some of the company&#8217;s leaders engaged in sexual harassment and that the company disregarded the potential harm its platforms could inflict on users globally.
Despite Meta&#8217;s attempts&nbsp;to discredit Wynn-Williams and her&nbsp;book, it continues to garner substantial&nbsp;news coverage and social media&nbsp;attention. 
Also Read: <a href="https://www.benzinga.com/news/23/07/33156331/zuckerberg-spent-43m-on-security-but-5-5m-to-back-defund-the-police-says-report">Zuckerberg Spent $43M On Security But $5.5M To Back Defund The Police, Says Report</a>
The book debuted at the top of&nbsp;The New York Times bestseller&nbsp;list for nonfiction earlier this month and has maintained strong sales.
Meta&#8217;s spokesperson Dave Arnold said on Friday, &#8220;This&nbsp;book is a mix of&nbsp;out-of-date and previously reported claims&nbsp;about the company and false&nbsp;accusations about our executives.&#8221;
He further claimed that Wynn-Williams was dismissed due to poor performance and toxic behavior and has since been compensated by anti-Facebook activists.
Macmillan Publishers, the publisher of the book, stated that it &#8220;remains&nbsp;steadfast in support of our&nbsp;author Sarah Wynn-Williams and is&nbsp;extremely proud to be the&nbsp;publisher of this profound and&nbsp;timely book.&#8221;
Why It Matters: This incident underscores the ongoing controversy surrounding Meta&#8217;s corporate culture and practices. It also highlights the potential legal implications for former employees who choose to speak out about their experiences at the company. 
The case serves as a reminder of the power of non-disparagement agreements in limiting public discourse about a company&#8217;s internal affairs.
Read Next
<a href="https://www.benzinga.com/news/24/09/41079963/decoding-zuckerbergs-efficiency-mantra-a-wifi-password-speaks-volumes">Decoding Zuckerberg&#8217;s Efficiency Mantra: A Wifi Password Speaks Volumes</a>
Image: Shutterstock

Meta's Effort To Suppress Tell-All Book Made It a Bestseller

In his Friday appearance on Joe Rogan&#8216;s podcast, Mark Zuckerberg voiced his optimism regarding President-elect Donald Trump&#8216;s support <a href="https://www.benzinga.com/news/24/07/39723781/trump-threatens-to-jail-metas-mark-zuckerberg-and-election-fraudsters-if-re-elected-dont-do-it-be-ca">for the American tech industry</a>.
What Happened: During the <a href="https://www.youtube.com/watch?v=7k1ehaE0bdU">podcast</a>, Zuckerberg expressed his belief in the strategic advantage of U.S. tech companies and his confidence that Trump&#8217;s administration will defend this advantage, ensuring the industry&#8217;s continued strength.
&#8220;I think it&#8217;s a strategic advantage for the United States that we have a lot of the strongest companies in the world, and I think it should be part of the U.S. strategy going forward to defend that,&#8221; Zuckerberg said during the podcast.
&#8220;And it&#8217;s one of the things that I&#8217;m optimistic about with President Trump is, I think he just wants America to win,&#8221; he added. 
Zuckerberg told Rogan that the change reflects the nation&#8217;s &#8220;cultural pulse&#8221; as it was reflected in the presidential election results.
Also Read: <a href="https://www.benzinga.com/news/24/08/40667286/trump-warns-zuckerberg-in-latest-book-says-he-could-be-in-prison-for-the-rest-of-his-life-we-are-wat">Trump Warns Zuckerberg In Latest Book, Says He Could Be In Prison For The Rest Of His Life: &#8216;We Are Watching Him Closely&#8217;</a>
The comments from the founder of&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), formerly known as Facebook, followed significant changes made by the company to its content moderation policies. 
The new system, which replaces third-party fact-checkers with a community-notes system, received praise from Trump.
Why It Matters: Given the recent changes in Meta&#8217;s content moderation policies and the company&#8217;s donation to Trump&#8217;s inaugural fund, Zuckerberg&#8217;s comments signal a strategic alignment with the incoming administration. 
This could potentially influence the future direction of the tech industry, particularly in terms of content moderation and censorship.
Read Next
<a href="https://www.benzinga.com/news/22/09/28744962/trump-says-weirdo-mark-zuckerberg-came-to-white-house-for-dinner-with-him-last-week-1" target="_blank" rel="noreferrer noopener">Speaking At Rally, Trump Says ‘Weirdo' Mark Zuckerberg Once Came To White House For Dinner</a>

In Joe Rogan Interview, Zuckerberg Expresses Confidence in Trump's Support for Tech Sector: 'I Think He Just Wants America to Win'

Elon Musk has criticized Instagram&#8217;s handling of child exploitation and data privacy <a href="https://www.benzinga.com/news/23/03/31129297/zuckerbergs-life-changing-advice-to-young-people">issues in a post on X</a>.
What Happened: On Sunday, Musk took to X to express his concerns over Instagram&#8217;s alleged child exploitation problem and data privacy issues. 
He accused Mark Zuckerberg, the CEO of Instagram&#8217;s parent company Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), of succumbing to censorship pressure and providing governments with backdoor access to user data. Musk&#8217;s post was in response to a post by Naomi Seibt.
Musk&#8217;s comments came following the arrest of Telegram founder Pavel Durov, the Russian-born entrepreneur behind the encrypted messaging service Telegram, in France. 
Durov faces multiple charges linked to his platform and could be sentenced to up to 20 years in prison if found guilty. In a post on X, Musk said that "It's 2030 in Europe and you're being executed for liking a meme".
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">POV: It's 2030 in Europe and you're being executed for liking a meme <a href="https://t.co/OkZ6YS3u2P">https://t.co/OkZ6YS3u2P</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827484648454418881?ref_src=twsrc%5Etfw">August 24, 2024</a></blockquote>
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Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38134183/tech-titans-clash-mark-zuckerberg-rises-as-elon-musk-falters-in-billionaire-rankings" target="_blank" rel="noreferrer noopener">Tech Titans Clash: Mark Zuckerberg Rises As Elon Musk Falters In Billionaire Rankings</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Because he already caved into censorship pressure. Instagram has a massive child exploitation problem, but no arrest for Zuck, as he censors free speech and gives governments backdoor access to user data. <a href="https://t.co/RTTGIaD0gA">https://t.co/RTTGIaD0gA</a> <a href="https://t.co/iPb5NIxIJN">https://t.co/iPb5NIxIJN</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827647414020211016?ref_src=twsrc%5Etfw">August 25, 2024</a></blockquote>
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He wrote, &#8220;Because he already caved into censorship pressure. Instagram has a massive child exploitation problem, but no arrest for Zuck, as he censors free speech and gives governments backdoor access to user data.&#8221;
Why It Matters: Musk&#8217;s comments come amid growing concerns about data privacy and child safety on social media platforms. Instagram has been under scrutiny for its handling of these issues.
Musk&#8217;s criticism highlights the increasing pressure on tech companies to address these concerns and the potential repercussions if they fail to do so.
Read Next
<a href="https://www.benzinga.com/news/24/08/40301119/musk-vs-zuckerberg-whos-winning-the-social-media-war">Musk Vs Zuckerberg: Who&#8217;s Winning The Social Media War?</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Musk Takes Shot At Zuckerberg, Slams Instagram Over Child Exploitation And Data Privacy

In the lead-up to this week&#8217;s earnings announcements from major U.S. tech companies, the CEO of the world&#8217;s largest wealth fund has voiced concerns over the tech sector&#8217;s frothiness. This follows a 5.5% drop in the Nasdaq Composite last week.
What Happened: Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), expressed his views on CNBC&#8217;s &#8220;Squawk Box Europe&#8221; on Tuesday, <a href="https://www.cnbc.com/2024/04/23/tech-ceo-of-worlds-largest-wealth-fund-says-theres-a-lot-of-froth.html">CNBC</a> reported.
He stated, &#8220;There is clearly a lot of froth within the technology sector. Whether it is too much or not, that is unclear — and I guess we will get the answer later in the week when we get all these results coming through.&#8221;
NBIM, which oversees the Norwegian Government Pension Fund Global, is the world&#8217;s largest sovereign wealth fund, valued at 17.7 trillion kroner ($1.6 trillion) at the end of March. The fund, a major global investor, has stakes in over 8,800 companies across more than 70 countries. Last week, it reported a first-quarter profit of around $110 billion, largely due to strong returns on its tech stock investments.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38336261/tesla-musk-face-moment-of-truth-with-q1-earnings-call-believers-are-giving-up-on-th?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla, Musk Face &#8216;Moment Of Truth&#8217; With Q1 Earnings Call: &#8216;Believers Are Giving Up On The Story And Throwing In The White Towel&#8217;</a>
Trond Grande, deputy CEO of NBIM, mentioned that investors are taking &#8220;a more nuanced look&#8221; at the business models of the so-called Magnificent Seven U.S. tech giants, which include Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Why It Matters: The tech sector has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37355192/ai-stocks-including-nvidia-face-bubble-risks-warns-wizard-of-wharton-impossible-to-tell-when-it-">under scrutiny for potential overvaluation</a>, with the &#8220;Wizard of Wharton&#8221; warning of a possible bubble in February. The sector led a market sell-off since Apr. 12, primarily driven by high-profile tech stocks, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38346847/nvidia-in-correction-territory-did-ai-led-tech-stock-bubble-just-burst-this-data-po">which ironically led the rally</a> that began in 2023.
However, the Nasdaq 100 index <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38365322/nasdaq-100-breaks-3-day-losing-streak-as-tech-stocks-rebound-ahead-of-earnings-week">managed to break a three-day losing streak </a>on Monday, as traders prepared for a crucial week of earnings reports from some of the tech sector's most influential names.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38367087/tesla-q1-earnings-preview-is-ev-giant-no-longer-a-growth-stock-analysts-cautious-wa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Preview: Is EV Giant No Longer A &#8216;Growth Stock?&#8217; Analysts Cautious, Want Answers About Robotaxis, Model 2</a>
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World's Largest Wealth Fund CEO Cautions Over Tech Sector 'Froth' Ahead Of Major Earnings

Facebook&#8217;s creator, Mark Zuckerberg, has been seen sporting a new hairstyle, which some believe could be a mullet, during a Senate Judiciary Committee hearing.
What Happened: Zuckerberg, who is known for his Caesar-like haircut, was observed with a fluffy blond growth at the back of his neck during a hearing on child exploitation on social media. This has led to speculation that the CEO of Meta Platforms might be growing a mullet, <a href="https://www.businessinsider.com/mark-zuckerberg-new-look-haircut-2024-2">reported</a> Business Insider.
Images from the hearing displayed the hair from different angles, but it was uncertain whether it was a mullet, a bad hair day, or something else. To resolve the debate, Business Insider consulted the experts at USA Mullet Champ, an organization that conducts live mullet judging competitions.
Brittany Stevens, their spokeswoman, after reviewing the photographic evidence, stated, &#8220;A true mullet should be longer in the back and shorter in the front and sides. …While this isn&#8217;t quite a mullet yet, it&#8217;s well on its journey!&#8221;
See Also: <a href="https://www.benzinga.com/news/24/02/36905235/elon-musk-shades-tim-cook-says-apple-vision-pro-is-not-a-moon-shot-impossible-to-look-good?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Shades Tim Cook, Says Apple Vision Pro Is Not A &#8216;Moon Shot:&#8217; &#8216;Impossible To Look Good&#8217;</a>
Despite the hearing&#8217;s focus on serious issues, Zuckerberg&#8217;s new hairstyle managed to divert some attention.
Why It Matters: Zuckerberg&#8217;s fascination with Roman Emperor Augustus Caesar was <a href="https://www.businessinsider.com/mark-zuckerberg-haircut-explained-augustus-caesar-2019-10">cited</a> as an inspiration for his haircut in 2019 by Business Insider. At the time his wife, Priscilla Chan, was reportedly cutting his bangs.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I see people asking why Mark Zuckerberg has this weird haircut. It&#39;s simple: <a href="https://t.co/5b7BroDUlh">pic.twitter.com/5b7BroDUlh</a>
&mdash; The Discourse Lover (@Trillburne) <a href="https://twitter.com/Trillburne/status/1187137228012523520?ref_src=twsrc%5Etfw">October 23, 2019</a></blockquote>
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Notably, one of Zuckerberg&#8217;s daughters is <a href="https://www.benzinga.com/general/entertainment/23/03/31535617/mark-zuckerberg-has-3-daughters-named-after-one-of-facebook-founders-favorite-school-subjec">named after the Emperor</a> who played a pivotal role in transforming Rome into an empire and became infamous for eliminating his political rivals.
Last week&#8217;s hearing saw Zuckerberg <a href="https://www.benzinga.com/markets/equities/24/01/36875784/its-terrible-metas-zuckerberg-apologizes-to-families-of-online-child-abuse-victims-at-senate-hea">apologize</a> to the families of children who were victims of abuse on social media platforms. The hearing was attended by several social media group leaders, including Linda Yaccarino of X — formerly Twitter — and Evan Spiegel of Snap Inc. 
The American Association For Justice, a body associated with trial lawyers, shared a photo of Zuckerberg apologizing to the parents where the back of his head can be seen. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"If he really wants to apologize to me then answer any of my letters or contacts from any attorneys or anybody else the whole time since my kid died three years ago," [parent advocate] Rodee told The Hill.<a href="https://t.co/D8WvXjkLxx">https://t.co/D8WvXjkLxx</a>
&mdash; American Assoc. for Justice (@JusticeDotOrg) <a href="https://twitter.com/JusticeDotOrg/status/1752767987428303041?ref_src=twsrc%5Etfw">January 31, 2024</a></blockquote>
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During the hearing, Zuckerberg faced <a href="https://www.benzinga.com/news/24/01/36880813/ceo-of-elon-musks-x-promises-to-make-internet-safer-hours-after-zuckerberg-gets-heckled-by-parents-a">heckling</a> from parents of children who had been exploited or passed away. Later in the day, X&#8217;s CEO Linda Yaccarino promised to make the &#8220;internet safer.&#8221;
Despite the controversy, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>) shares hit an all-time high after the company reported better-than-expected fourth-quarter financial results, leading to a significant increase in Zuckerberg&#8217;s wealth, as reported by <a href="https://www.benzinga.com/general/social-media/24/02/36917803/mark-zuckerberg-has-biggest-wealth-gain-in-2024-thanks-to-meta-shares-could-pass-bill-gates-">Benzinga</a>.
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36921942/tim-cooks-ai-efforts-have-wedbushs-dan-ives-excited-we-view-apple-like-meta-18-mont?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tim Cook&#8217;s AI Efforts Have Wedbush&#8217;s Dan Ives Excited: &#8216;We View Apple Like Meta 18 Months Ago&#8217;</a>
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Mark Zuckerberg's Caesar Haircut Is Gone. Is the Meta Platforms CEO Growing A Mullet?

In a bid to capitalize on the ongoing tech stock surge, Tidal Financial Group and ZEGA Financial have introduced a new ETF, providing investors with a unique opportunity to invest in the mega-cap technology sector.
What Happened: Business Insider <a href="https://markets.businessinsider.com/news/funds/new-yieldmax-magnificent-7-etf-investors-track-megacap-tech-stocks-2024-1?_gl=1&#x2A;e6onkl&#x2A;_ga&#x2A;MTMzNTQ2MDg4Ny4xNzAxMDYyNjE3&#x2A;_ga_E21CV80ZCZ&#x2A;MTcwNjc1ODQyOC4xMDkuMS4xNzA2NzU4NTI5LjI1LjAuMA">reported</a> that the newly launched YieldMax Magnificent 7 Fund of Option Income ETFs will invest in seven established YieldMax single-stock ETFs. Announced on Tuesday, these funds use covered-call options strategies to generate capital gains and income from leading technology giants, including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
The fund will be reallocated monthly to ensure an equal weighting of each of the seven YieldMax ETFs within the Fund&#8217;s holdings. The move would give accessibility and streamline ownership for shareholders, with indirect exposure to the Magnificent Seven through a single ETF.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36756727/bitcoin-etfs-mark-a-transformative-moment-ese-entertainment-is-making-gaming-more-crypto-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin ETFs Mark A Transformative Moment – ESE Entertainment Is Making Gaming More Crypto-Friendly Through New Partnership With Metapro</a>
Despite the potential for high returns, YieldMax has cautioned investors that the fund involves &#8220;a high degree of risk.&#8221;
Why It Matters: The tech-stock craze has been a significant driver of the stock market, with the Magnificent Seven stocks contributing to about 60% of the S&amp;P 500&#8217;s gains in 2023. The group itself achieved an average growth of over 110%, leading to record-breaking gains for the world&#8217;s biggest sovereign wealth fund.
The launch of this ETF comes at a time when the tech industry is experiencing a surge in investor interest. This interest has been fueled by various factors, including the <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36564284/exploring-the-impact-how-spot-bitcoin-etf-approvals-could-reshape-the-crypto-landscape">anticipation surrounding the approval of spot Bitcoin ETFs</a> and the subsequent price fluctuations in the cryptocurrency market.
Earlier in January, the approval of <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36564284/exploring-the-impact-how-spot-bitcoin-etf-approvals-could-reshape-the-crypto-landscape">spot Bitcoin ETFs in the U.S.</a> had led to a surge in Bitcoin&#8217;s value. However, the cryptocurrency&#8217;s value plummeted below $39,000 later in the month, erasing almost all the gains made following the ETF launch.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36831593/retails-bitcoin-price-prediction-by-end-of-2024-below-20-000-but-technical-analysts-see-ru?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Retail&#8217;s Bitcoin Price Prediction By End Of 2024: Below $20,000, But Technical Analysts See &#8216;Run To $48K-50K&#8217;</a>
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New ETFs

ETFs

This New ETF Allows Investment In Apple, Microsoft And Other 'Magnificent 7' Stocks

Responding to concerns about its services being <a href="https://www.benzinga.com/news/24/01/36685269/mark-zuckerberg-meta-accused-of-putting-growth-ahead-of-childrens-safety-unsealed-new-mexico-lawsuit">used by "predators,"</a> Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>) has unveiled stricter messaging settings for teenagers on its social media platforms, Instagram and Facebook.
What Happened: As per a <a href="https://about.fb.com/news/2024/01/introducing-stricter-message-settings-for-teens-on-instagram-and-facebook/">post</a> on Meta&#8217;s official blog on Thursday, the tech giant is rolling out new measures to shield teens from unwanted contact.
Adults aged 19 and above are now barred from messaging teens who don&#8217;t follow them on Instagram. Additionally, the type and quantity of direct messages (DMs) that can be sent to non-followers have been restricted to a single text-only message.
Meta is also disabling the feature that allows teens to receive DMs from individuals they don&#8217;t follow or aren&#8217;t linked with on Instagram.
This rule applies to all users under 16, or 18 in certain countries, including other teenagers. Teens with supervised accounts will require parental consent to modify this setting.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36705971/jim-cramer-says-customers-can-buy-60-inch-tv-at-walmart-for-289-than-apple-vision-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Says Customers Can Buy 60-Inch TV At Walmart For $289 Than Apple Vision Pro</a>
The same changes are being implemented on Messenger, where only Facebook friends or individuals connected via phone contacts can message users under 16.
Later this year, Meta plans to roll out a new feature to prevent teens from viewing unsolicited and potentially inappropriate images in their messages from their existing connections.
Larry Magid, CEO of ConnectSafely, commended the new measures, saying they equip parents with the necessary tools to safeguard their teens while preserving their privacy and communication capabilities.
Why It Matters: This move comes in the wake of allegations against Meta and CEO Mark Zuckerberg for prioritizing growth over children&#8217;s safety.
As reported in an <a href="https://www.benzinga.com/news/24/01/36685269/mark-zuckerberg-meta-accused-of-putting-growth-ahead-of-childrens-safety-unsealed-new-mexico-lawsuit">unsealed lawsuit</a> filed by the New Mexico Department of Justice, Meta was accused of being aware of a significant amount of inappropriate and sexually explicit content on its platforms but not taking adequate measures to protect young users.
The stricter messaging rules for teens are a step towards addressing these concerns.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/01/36759403/if-you-invested-1000-in-apple-when-macintosh-was-introduced-40-years-ago-heres-how-much-youd-hav?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 In Apple When Macintosh Was Introduced 40 Years Ago, Here&#8217;s How Much You&#8217;d Have Tod</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga
Image made via photos on Shutterstock

Meta Blocks Adults From Messaging Teens They Don't Follow To Make It Safe For Young Users

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares experienced a significant surge in 2023, driven by the increasing demand for graphics processing units (GPUs) used in artificial intelligence (AI) applications. However, the stock&#8217;s future trajectory has now been thrown into uncertainty as an analyst downgraded AMD&#8217;s rating to a rather unconventional status.
What Happened: The Northland Capital Markets analyst Gus Richard downgraded AMD&#8217;s rating to a &#8220;heck if we know&#8221; status, citing the uncertainty surrounding the future of the company&#8217;s AI-oriented GPUs, CNBC <a href="https://www.cnbc.com/2024/01/22/amds-stock-surge-leads-analyst-to-a-heck-if-we-know-rating.html">reported</a> on Monday. This downgrade comes after AMD&#8217;s stock rose by nearly 130% in 2023, with investors banking on the company&#8217;s AI-oriented GPUs to rival those of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and attract major buyers like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>).
Richard&#8217;s decision is based on the &#8220;irrational exuberance&#8221; surrounding the growth of AI chip demand, which has led to inflated expectations. He predicts a total AI chip revenue of $125 billion in 2027, with some analysts estimating it to be as high as $400 billion. However, Richard believes that the actual figure will be significantly lower.
&#8220;AI is big, it&#8217;s really big, just not as big as investors are thinking,&#8221; he said.
He also points out that the demand signals are distorted due to Nvidia&#8217;s dominant position in the market and the recent U.S. ban on certain chip exports to China, which could hinder growth.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36710651/pastor-said-god-told-him-to-remodel-home-after-selling-1-3m-worth-of-worthless-crypto-to-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Pastor Said God Told Him To Remodel Home After Selling $1.3M Worth Of &#8216;Worthless Crypto&#8217; To Followers</a>
Why It Matters: The AI chip market has been a hot topic in the tech industry, with analysts predicting its potential to drive growth for companies like AMD and Nvidia. Just recently, an analyst at KeyBanc Capital Markets suggested that AI could <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36719297/nvidia-amd-to-triumph-over-q4-market-weakness-with-cutting-edge-ai-says-analyst-her">save the day for semiconductor companies</a> amidst weak industry fundamentals in the fourth quarter.
Despite the uncertainty surrounding AI chip growth, AMD&#8217;s stock had risen, reaching a <a href="https://www.benzinga.com/news/24/01/36698381/why-amd-stock-hit-a-new-all-time-high-this-week">new all-time high</a> just a few days before the recent downgrade. The company&#8217;s AI-oriented GPUs were seen as a potential game-changer in the market, but Richard&#8217;s call has now cast doubt on the future of this segment.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36710516/bitcoin-ethereum-dogecoin-drop-as-google-search-interest-in-spot-etfs-plunges-analyst-fore?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Drop As Google Search Interest In Spot ETFs Plunges: Analyst Foresees King Crypto Below $40K Before April Halving</a>
Image via Shutterstock
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Analyst Color

Downgrades

Analyst Ratings

After 130% Surge, AMD Faces Uncertain Road Ahead: Top Analyst Says Chipmaker's Future Shrouded In Doubt

Market veteran Jim Rogers predicts a significant plunge in asset prices and a looming economic disaster, with plans to profit by shorting renowned stocks like Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
What Happened: Rogers, who co-founded the Quantum Fund and Soros Fund Management with George Soros, sees bubbles in bonds, property, and stocks. He has offloaded a significant portion of his stocks and bonds in anticipation of a steep downturn, <a href="https://markets.businessinsider.com/news/stocks/jim-rogers-magnificent-short-stock-market-outlook-bubble-crash-recession-2023-12">reported</a> Business Insider.
&#8220;Bonds are a bubble, property in many countries is a bubble, stocks are getting ready for a bubble,&#8221; the veteran investor and travel author said in an interview with Soar Financially.
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Rogers pointed out &#8220;warning signs&#8221; of an impending collapse, including a small group of stocks driving the major indices higher and novice investors bragging about their easy wins in the market.
His prime target to short, dubbed the &#8220;Magnificent Seven&#8221;, includes Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), Tesla, and Nvidia.
&#8220;When the market comes to an end, the last high flyers are the best shorts,&#8221; he said. 
&#8220;The stocks that have done extremely well and are very expensive — that, I hope, is where I&#8217;m smart enough to short next time around.&#8221;
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36399297/ed-yardenis-12-reasons-for-being-bullish-on-s-p-500-in-upcoming-year?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ed Yardeni&#8217;s 12 Reasons For Being Bullish On S&amp;P 500 In Upcoming Year</a>
Why It Matters: The United States&#8217; escalating debt burden has been a long-standing concern for Rogers, who warned in July that<a href="https://www.benzinga.com/news/23/07/33239553/serious-global-financial-crisis-coming-as-debt-levels-skyrocket-warns-jim-rogers-it-will-be-the-wors"> it could lead to persistently high inflation</a> and increased interest rates. 
His warnings echo the sentiments of economist Peter Schiff, who <a href="https://www.benzinga.com/news/23/12/36406267/peter-schiff-challenges-prevailing-economic-optimism-with-2024-recession-forecast-says-high-inflatio">predicted a recession and a resurgence</a> of high inflation in 2024 due to the Federal Reserve&#8217;s efforts to restore price stability.
Despite economic growth and a robust job market, a December Bankrate survey revealed that 60% of <a href="https://www.benzinga.com/economics/macro-economic-events/23/12/36128165/60-americans-believe-economy-is-in-recession-despite-steady-growth-and-robust-job">Americans believe the economy is in a recession</a>. This perception of economic decline is widespread across generations and income levels, contradicting the positive outlook of many economists.
Read Next: <a href="https://www.benzinga.com/markets/equities/23/12/36409413/s-p-500-nears-record-territory-even-as-momentum-slows-why-this-analyst-says-investors-may-need-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500 Nears Record Territory Even As Momentum Slows: Why This Analyst Says Investors May Need To &#8216;Proceed With Caution&#8217;</a>
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 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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GOOG

Legendary Investor Jim Rogers Predicts Market Bubble, Positions To Short Tesla, Apple And Other 'Magnificent Seven'

This story was first published on the <a href="https://in.benzinga.com/content/36337403/mark-zuckerburgs-meta-left-guessing-if-apps-like-whatsapp-signal-will-come-under-new-telecom-bill-re">Benzinga India portal.</a>
Mark Zuckerberg-led tech behemoth&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) is reportedly anxious over the implications of India&#39;s fresh Telecommunications Bill on widely-used apps such as WhatsApp and Signal.
According to a report by Moneycontrol, India&#39;s recently enacted law could grant the government extensive control over telecom companies.&nbsp;Meta&nbsp;is concerned that this could extend to its messaging apps in the future.
Shivnath Thukral, the head of Meta&#39;s policy in India, shared his worries in an internal email viewed by the business publication. He reportedly pointed out that while the new law doesn&#39;t directly target over-the-top (OTT) services like WhatsApp, the broad definitions of &quot;telecommunication&quot; and &quot;message&quot; within the law leave room for interpretation.
See Also:&nbsp;<a href="https://in.benzinga.com/content/36337677/social-media-platform-x-down-users-see-blank-feeds-in-unexpected-outage" target="_blank">Social Media Platform X Down: Users See Blank Feeds In Unexpected Outage</a>
The Telecommunications Bill provides a wide-ranging definition of &quot;telecommunication&quot;, encompassing&nbsp;the transmission of messages through&nbsp;various systems. The term &quot;message&quot; includes various types of communication. This has led some experts to express fears that apps like WhatsApp could potentially fall under the scope of this law.
Thukral also reportedly noted&nbsp;in the email that a&nbsp;&quot;minister&quot; had assured the company that there were no plans&nbsp;to regulate OTTs under this&nbsp;law. However, the ambiguity of the law&#39;s language continues to raise concerns.
The law grants the government the power to access and reveal messages in certain circumstances, which poses&nbsp;privacy concerns for encrypted platforms.&nbsp;The bill was passed by the Lok Sabha, India&#39;s lower house of Parliament, on Dec. 20. Some lawmakers have called for clarity on these&nbsp;definitions. The bill will now&nbsp;be presented to the Rajya Sabha, the upper house of Parliament, for approval. If passed, it will supersede&nbsp;the old Indian Telegraph Act&nbsp;of 1885.
The new bill also stipulates that only entities authorized by the government can provide telecommunication services, with the rules for obtaining this authorization to be established at a later date.
Read Next:&nbsp;<a href="https://in.benzinga.com/content/36318955/google-maps-adds-where-is-my-train-and-five-more-features-for-indian-users-heres-whats-new">Google Maps Adds &#39;Where Is My Train&#39; And Five More Features For Indian Users: Here&#39;s What&#39;s New</a>

Government

Media

Mark Zuckerberg's Meta Said To Be Worried About Indian Telecom Bill's Impact On WhatsApp

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>) has announced the implementation of end-to-end encryption for Facebook and Messenger platforms.
What Happened: Meta&#8217;s new encryption feature implies that the firm will no longer be able to access user messages unless reported by a user.&nbsp;
Loredana Crisan, Meta's vice-president for Messenger, said that the Signal protocol and Meta&#8217;s Labyrinth protocol were used in developing the encryption, <a href="https://www.theguardian.com/technology/2023/dec/07/meta-facebook-messenger-end-to-end-encryption">reported</a> The Guardian. 
See Also: <a href="https://www.benzinga.com/news/23/12/36127914/not-to-be-left-behind-meta-launches-new-ai-image-generator-to-take-on-openai-and-microsoft">Not To Be Left Behind, Meta Launches New AI Image Generator To Take On OpenAI And Microsoft</a>
Despite optional encrypted messaging since 2016, this comprehensive encryption, first announced by the company's CEO Mark Zuckerberg in 2019, faced delays due to concerns about child abuse detection on the platform.&nbsp;
The new encryption features will be available immediately, but it will take several months to roll out to Meta&#8217;s over one billion users.
Moreover, while Instagram is currently exempted, plans are underway to extend the encryption to the platform following the Messenger upgrade.&nbsp;
WhatsApp, another Meta platform, already has end-to-end encryption in place.
Why It Matters: The move by Meta aligns with similar measures adopted by tech giants like Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), which implemented end-to-end encryption as the <a href="https://www.benzinga.com/news/23/08/33654788/sundar-pichai-hails-end-to-end-encryption-as-game-changer-for-messages-on-android">default setting for its Android&#8217;s RCS messages</a>. 
Such trends underscore the tech industry&#8217;s increasing emphasis on user privacy.
However, encrypted messaging has also sparked controversy.
Earlier this year, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and other tech companies opposed the U.K.&#8217;s Online Safety Bill, which mandated messaging <a href="https://www.benzinga.com/news/23/06/33037489/a-war-against-encrypted-messaging-is-brewing-and-apple-has-joined-the-fight-against-it">services to scan content</a> for child sexual abuse material. 
Critics argue that such measures increase the risk of data breaches and surveillance, posing a significant challenge to Meta and other tech firms championing end-to-end encryption.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/23/12/36115860/zuckerberg-dumped-190m-in-meta-stock-first-sale-since-2021-a-sign-of-things-to-come">Zuckerberg Dumped $190M In Meta Stock, First Sale Since 2021 — A Sign Of Things To Come?</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Now, Facebook And Messenger Also Get End-To-End Encryption As Meta Levels Up Security

Threads, the social media platform from&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), is preparing to make its entry into the European Union this December. This move comes after Threads&#8217; <a href="https://www.benzinga.com/news/23/07/33160048/threads-app-hits-100m-users-in-just-five-days-becomes-the-fastest-growing-app-in-history">successful launch</a> in several markets in July.
What Happened: The launch of Threads in the EU was initially delayed due to concerns about the region&#8217;s strict&nbsp;regulations for online services.
Threads, which is capable of importing data from Instagram such as advertising and behavioral information, plans to comply with these regulations by offering EU users a consumption-only option, eliminating the need for a personal profile, <a href="https://www.wsj.com/tech/meta-threads-europe-launch-98448df5">reported</a> The Wall Street Journal.
The decision follows recent announcements from&nbsp;Adam Mosseri, the head of Instagram, about a new feature <a href="https://www.benzinga.com/news/23/11/35771323/you-can-now-delete-your-threads-account-without-losing-your-instagram-account">enabling users to delete or deactivate their Threads profile</a> separately from their Instagram account. This comes in the wake of Threads&#8217; announcement that it had become the fastest consumer app to reach 100 million users.
See Also:&nbsp;<a href="https://www.benzinga.com/news/23/11/35972745/this-seo-heist-using-ai-shows-how-easy-it-is-to-game-google-search?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This SEO Heist Using AI Shows How Easy It Is To Game Google Search</a>
Threads&#8217; move to expand into the EU is anticipated to give a boost to its user base.
According to Mark Zuckerberg, CEO of Meta, Threads currently boasts just under 100 million monthly users. The expansion comes at a time when prominent advertisers such as Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Disney (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) have <a href="https://www.benzinga.com/news/23/11/36016779/free-speech-or-foul-speech-yaccarino-wrestles-with-musks-go-f-yourself-rebuke-to-advertisers">suspended advertising</a> spending on rival platform X (formerly Twitter) following controversial remarks made by Elon Musk.
Why It Matters: The launch of Threads in the EU is a significant step for Meta, given the initial&nbsp;<a href="https://www.benzinga.com/news/23/07/33110489/metas-threads-spark-privacy-debate-why-eu-is-snubbed-while-us-uk-dive-in">concerns around data privacy and regulatory differences</a>.
The platform was initially barred from launching in the EU due to concerns from the Irish Data Protection Commission. However, Threads&#8217; commitment to abide by EU regulations shows Meta&#8217;s willingness to navigate complex digital privacy landscapes.
Additionally, the introduction of a feature allowing the <a href="https://www.benzinga.com/news/23/11/35771323/you-can-now-delete-your-threads-account-without-losing-your-instagram-account">deletion of Threads accounts separately from Instagram</a> accounts provides users with more control over their data. This will likely appeal to privacy-conscious users and could further drive user growth.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/11/35974837/your-pixar-makeover-awaits-heres-how-you-can-turn-yourself-into-a-pixar-character-using-this-custom?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Your Pixar Makeover Awaits: Here&#8217;s How You Can Turn Yourself Into A Pixar Character Using This Custom GPT</a>
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Meta's Threads Set To Enter EU Market In December

Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI-driven upswing hasn&#8217;t missed any Street watcher&#8217;s eye. The stock is up over 200% in the past year, 240%+ so far in 2023 and 65%+ over <a href="https://www.benzinga.com/quote/NVDA">the past 6 months</a>.
The company now commands the fifth-largest market cap on the U.S. exchanges:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Symbol</td>
<td>Company</td>
<td>Market Cap</td>
</tr>
<tr>
<td>AAPL</td>
<td>Apple Inc.</td>
<td>$2.899T</td>
</tr>
<tr>
<td>MSFT</td>
<td>Microsoft Corporation</td>
<td>$2.747T</td>
</tr>
<tr>
<td>GOOG</td>
<td>Alphabet Inc.</td>
<td>$1.668T</td>
</tr>
<tr>
<td>AMZN</td>
<td>Amazon.com, Inc.</td>
<td>$1.484T</td>
</tr>
<tr>
<td>NVDA</td>
<td>NVIDIA Corporation</td>
<td>$1.194T</td>
</tr>
<tr>
<td>META</td>
<td>Meta Platforms, Inc.</td>
<td>$844.894B</td>
</tr>
<tr>
<td>BRK.A</td>
<td>Berkshire Hathaway Inc.</td>
<td>$764.562B</td>
</tr>
<tr>
<td>TSLA</td>
<td>Tesla, Inc.</td>
<td>$682.355B</td>
</tr>
<tr>
<td>LLY</td>
<td>Eli Lilly and Company</td>
<td>$567.41B</td>
</tr>
<tr>
<td>UNH</td>
<td>UnitedHealth Group Inc.</td>
<td>$500.579B</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data source: TradingView</figcaption></figure>
It is true Nvidia&#8217;s stock did pick up steam through 2021, but it only witnessed a steep upward stride after October 2022. It is currently among the largest technology stocks on Wall Street and over the past two years, Nvidia has made its place in the U.S. stock market and many tech portfolios.
But, Nvidia hasn&#8217;t been able to find a place in Jim Cramer&#8217;s tech stock tags <a href="https://www.benzinga.com/money/faang-stocks">FAANG</a> or <a href="https://www.cnbc.com/2021/10/29/cramer-new-acronym-to-replace-faang-after-facebook-name-change-to-meta.html">MAMAA</a>. 
Related: <a href="https://www.benzinga.com/general/hedge-funds/23/11/35591478/nvidia-dominates-ai-chip-market-but-institutional-holders-show-unsettling-trend-is-the-spark-">Nvidia Dominates AI Chip Market, But Institutional Holders Show Unsettling Trend — Is The Spark Fading?</a>
The term FAANG was coined by Jim Cramer in 2013. FAANG represented the most significant technology stocks worldwide at that time, consisting of&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), formerly called Facebook,&nbsp;Amazon.com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>),&nbsp;Netflix Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Google, now called&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).
In October 2021, Cramer replaced his FAANG acronym with MAMAA, representing Meta,&nbsp;Alphabet, Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon&nbsp;and&nbsp;Apple. The reason cited for Netflix not being included has been its market capitalization not keeping up with the others. We can safely assume the same may have applied to Nvidia.
In the meantime, its market cap grew more than three-fold now and the future looks bright for the company. Nvidia is better positioned (and equipped) vis-a-vis competitors to profit and scale up with the AI adoption and growth.
Charlie Bilello, chief market strategist of Creative Planning Investor, came up with <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35534697/jim-cramer-prefers-caution-despite-impressive-returns-from-the-enormous-eight-led-b">The Enormous Eight</a>, which adds Microsoft, Nvidia and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) to the FAANG equation.
The question remains: While the current MAMAA tag includes the top six stocks without Nvidia, will the CNBC Mad Money host Jim Cramer come up with a new tag soon to include it?
Read Next: <a href="https://www.benzinga.com/23/11/35643536/amd-ceo-lisa-su-expects-1b-in-mi300-sales-microsoft-meta-oracle-google-amazon-placing-orders">AMD CEO Lisa Su Expects $1B In MI300 Sales: Microsoft, Meta, Oracle, Google, Amazon Placing Orders?</a>

NFLX

Nvidia Climbs From $300B To $1 Trillion Since MAMAA Dethroned FAANG: Jim Cramer's Cue For A New Tag?

Volatility notably returned to the markets this week as investors navigated the escalating conflict between Israel and Hamas, remarks from Federal Reserve Chair Jerome Powell and mixed earning reports <a href="https://www.benzinga.com/calendars/earnings">from leading U.S. corporations.</a>
Powell Says Fed Can Proceed &#8216;Carefully,&#8217; Warns Of Further Hikes If Data Remains Strong: During an event organized by the Economic Club of New York, Fed Chair Jerome Powell emphasized the need for a "careful" approach by the Federal Reserve that considers economic data. He also hinted that if the economy&#8217;s strength and inflation resurgence continue to surprise, further interest rate hikes may <a href="https://www.benzinga.com/markets/bonds/23/10/35337404/powells-interest-rate-remarks-trigger-thursday-roller-coaster-what-did-fed-chair-say">be on the horizon</a>. It was a week marked by significant volatility in Treasuries, with yields reaching 5% on 10-year bonds. 
Rising bond yields pressured major stock indices, with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) down 2.3% and the tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) down 3% for the week.
Among sectors, only the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and the Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) have remained unscathed, showing marginal gains. 
US Retail Sales Continue To Surpass Expectations, Defying Inflation, Interest Rates: In September, U.S. retail sales marked the sixth consecutive month of increases, underscoring consumers&#8217; remarkable resilience despite rising inflation and higher interest rates. On an annual basis, retail sales surged by 3.8%, up from the upwardly revised 2.9% recorded in August, marking the most substantial year-over-year <a href="https://www.benzinga.com/economics/macro-economic-events/23/10/35286199/september-retail-sales-top-expectations-as-consumers-defy-high-inflation-interest">gain since February 2023</a>.
Tesla Reports Lower-Than-Expected Q3 Results, Stock Faces Worst Week Of 2023: Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reported third-quarter earnings and revenue below expectations. Revenue reached $23.35 billion, a 9% increase from the previous year but falling short of the Street&#8217;s $24.38-billion estimate. Adjusted earnings per share came in at 66 cents, also missing predictions. The company announced plans to commence deliveries of the <a href="https://www.benzinga.com/news/earnings/23/10/35318136/tesla-q3-earnings-highlights-revenue-miss-eps-miss-cybertruck-launch-set-for-november-and-more">new Cybertruck in November.</a> Tesla&#8217;s stock experienced a 15.2% decline for the week, marking its worst weekly performance this year. 
<h2 class="wp-block-heading">Chart: Tesla Faces Worst Weekly Performance In 2023</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="708" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/10/20154644/TSLA_2023-10-20_17-18-23_7377a-1024x708.png" alt="" class="wp-image-128088" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/10/20154644/TSLA_2023-10-20_17-18-23_7377a-1024x708.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/10/20154644/TSLA_2023-10-20_17-18-23_7377a-300x208.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/10/20154644/TSLA_2023-10-20_17-18-23_7377a-768x531.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/10/20154644/TSLA_2023-10-20_17-18-23_7377a-1536x1063.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/10/20154644/TSLA_2023-10-20_17-18-23_7377a.png 1561w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Netflix Surpasses Expectations With Q3 Report: Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) achieved a remarkable earnings and revenue beat in the third quarter, reporting earnings of $3.73 per share compared to the expected $3.49. As a result, Netflix shares saw double-digit gains for the week, making it one of the S&amp;P 500&#8217;s top weekly performers.
Gold Attracts Haven Demand, Miners Outshine Other Sectors: Gold has emerged as one of the top-performing assets since the onset of the conflict in Israel, with the SPDR Gold Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) showing a nearly 10% increase, solidifying its position as a safe haven investment. Silver has also risen in harmony. Among equities, gold mining stocks, as tracked by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) have outshone all other industries, capitalizing on the surge <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35318074/gold-miners-positioned-for-upswing-keep-an-eye-on-this-leading-economic-indicator">in precious metal prices</a>.
What To Watch In The Week Ahead: On Thursday, the highly anticipated GDP data for the third quarter will be released, with economists predicting a robust 4.1% annualized growth rate. Friday will bring the release of the Federal Reserve&#8217;s preferred inflation gauge, the Personal Consumption Expenditure (PCE) index, for September. The headline PCE index is expected to show a decline from 3.7% year-on-year to 3.6%. 
Upcoming Corporate Earnings to Watch: Tuesday features a lineup of major companies including Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Danaher Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), General Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and Raytheon Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>).
Wednesday will bring earnings reports from Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>), International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), Automatic Data Processing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) and CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>).
Thursday includes Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) and Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>).
Friday will wrap up the week with reports from Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>).
Now read: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/23/10/35357397/hamas-releases-2-american-hostages-amid-escalating-tensions-calls-for-ceasefire-grow">Hamas Releases 2 American Hostages Amid Escalating Tensions: Calls For Ceasefire Grow</a>
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Investor Risk Sentiment Wavers Amid War, Interest Rate Concerns; Tesla Earnings Disappoint: The Week In The Markets

Meta Platforms Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) is intensively&nbsp;moderating content&nbsp;across its platforms, eliminating over 795,000 content breaches of its guidelines in Hebrew and Arabic in the three days following the<a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">&nbsp;Hamas&#39; attack on&nbsp;Israel on Oct.&nbsp;7.</a>
In the period following the violent outbreak, the company revealed that it had deleted content at a rate sevenfold compared to the preceding two months.
The removal of content followed&nbsp;stringent warnings from the European Union regarding the propagation of disinformation on its platforms amid the Israel-Hamas conflict, <a href="http://www.bloomberg.com/news/articles/2023-10-13/eu-warned-surge-of-violent-content-violates-digital-rules?srnd=technology-vp&amp;sref=TBDibEcD">according</a> to&nbsp;Bloomberg.
Scrupulously addressing a wave of disinformation since the attacks, Meta is reportedly&nbsp;intensifying scrutiny of content on its platform, collaborating with fact checkers proficient in Hebrew and Arabic, and instituting measures like hashtag blocking.
The rigorous actions came in the wake of a solemn caution by European Commissioner&nbsp;Thierry Breton&nbsp;to CEO&nbsp;Mark Zuckerberg&nbsp;and other social media magnates regarding their platforms being used as conduits for a deluge of unlawful content amidst the conflict, Bloomberg noted.&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/news/23/10/35249127/americans-more-supportive-of-israel-want-companies-to-support-with-money-over-statements-and-largely">Americans More Supportive Of Israel, Want Companies To Support With Money Over Statements And Largely Disapprove Of Biden&#39;s Response</a>
Upfront Battles With Misinformation
Unverified and violent content has spiraled across social media.&nbsp;
Some users on&nbsp;<a href=" https://www.benzinga.com/topic/elon-musk/">Elon Musk</a>&#39;s&nbsp;X, the platform once known as Twitter, have presented video game footage as actual eyewitness accounts, and concealed news links have posed challenges for users attempting to access breaking news, according to&nbsp;Bloomberg.&nbsp;
The war has presented&nbsp;substantial challenges to the EU&#39;s Digital Services Act&nbsp;instituted earlier this year, which mandates companies&nbsp;employ additional content moderators and initiate efforts to curb misinformation spread, or face hefty fines and potential bans.
Meta&#39;s Proactive Measures
Furthermore, Meta is strategically lowering the threshold at which its technology will restrict the recommendation of violating content and is minimizing the visibility of potentially controversial comments on posts across Facebook and Instagram, according to Bloomberg.&nbsp;
This includes limiting the use of Facebook and Instagram Live for users who have historically violated platform policies and&nbsp;removing content and accounts that show hostages taken by Hamas.
Price Action: META shares closed lower by 2.92% to $314.69 on Friday. Shares fell 0.2% to $314.05 after hours.
Read Next:&nbsp;<a href="https://www.benzinga.com/etfs/23/10/35230529/as-isreal-palestine-conflict-escalates-gold-ticks-up-etf-winners-and-losers-medium-cap-returns">As Israel-Palestine Conflict Escalates, Gold Ticks Up - ETF Winners And Losers: Medium-Cap Returns</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Meta Eradicates 795,000 Content Pieces Related To Israel-Hamas War, Sees Sevenfold Increase In Removal Rates

The Russell 2000, an index constituting the smaller two-thirds of the 3000-strong U.S. stock market, might be signaling concern for the economy. The index, which is still&nbsp;in a bear market since&nbsp;late 2021, lags the large-cap Russell 1000 index by&nbsp;13 percentage points this year.
According to a recent <a href="https://www.wsj.com/finance/stocks/these-stocks-are-screaming-recession-its-almost-time-to-buy-them-80dac268?mod=hp_lead_pos4">report </a>by the&nbsp;Wall Street Journal, the current&nbsp;ratio of the Russell 2000&nbsp;to the Russell 1000 is at a stress level of 74%, suggesting a potential turning point for small-caps. The dominance of tech titans like&nbsp;Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>),&nbsp;Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),&nbsp;Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>),&nbsp;Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>),&nbsp;Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>), and&nbsp;Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;could be contributing to&nbsp;the rest of the stock&nbsp;market&#8217;s perceived weakness.
The Russell 2000&nbsp;index, made up of small-cap stocks, is seen as&nbsp;more sensitive to emerging economic&nbsp;strains. Despite accounting for&nbsp;less than one-tenth of the&nbsp;total market value, the performance of these stocks can be indicative of impending recessions. However, they have also proven to be worthwhile investments post-recession. Small-cap stocks have outperformed&nbsp;large-caps in the 12 months&nbsp;following each of the last 11 recessions.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/23/10/35136675/historic-marijuana-milestone-georgia-first-in-nation-where-hundreds-of-drug-stores-will-sell-med?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Historic Marijuana Milestone: Georgia First In Nation Where Hundreds Of Drug Stores Will Sell Medical Cannabis</a>
However, small firms face challenges as interest rates rise. Firms&nbsp;in the Russell 2000 index&nbsp;have a shorter average maturity on their borrowings compared to large companies. A higher proportion of their debt is also dependent on&nbsp;banks rather than the bond&nbsp;market. A possible solution for investors could be diversifying their investments through an index fund or targeting small-cap value for added safety and potential returns during recovery. Despite lagging this year, small-cap value stocks have consistently performed impressively in the long run.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/23/10/35136955/walgreens-reportedly-confronts-impending-staff-walkout-is-your-local-pharmacy-shutting-down-next?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Walgreens Reportedly Confronts Impending Staff Walkout — Is Your Local Pharmacy Shutting Down Next Week?</a>
Image: Shutterstock/ Vintage Tone
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In a landmark decision, the European Union (EU) has labeled Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) as one of six &#8216;gatekeepers&#8217; in the digital market, sparking a swift response from the tech giant.
The EU&#8217;s designation comes under its new <a href="https://ec.europa.eu/commission/presscorner/detail/en/qanda_20_2349">Digital Markets Act (DMA)</a>. The European Commission named six gatekeepers, including Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>),&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>),&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FB#NASDAQ">FB</a>),&nbsp;Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and China&#8217;s&nbsp;ByteDance Ltd., all required to ensure full compliance with DMA obligations within six months.
Apple has been specifically accused of gatekeeping for its Safari browser, iOS operating system, and the App Store. The EU also plans to investigate Apple&#8217;s iMessage service, despite the company&#8217;s contention that it falls short of the new law&#8217;s 45 million monthly active user threshold.
See Also: <a href="https://www.benzinga.com/news/23/09/34272833/eus-challenges-big-tech-google-search-whatsapp-tiktok-and-19-others-face-dma-scrutiny">EU Challenges Big Tech: Google Search, WhatsApp, TikTok, And 19 Others Face DMA Scrutiny</a>
As per <a href="https://www.imore.com/apple/apple-hits-back-as-eu-brands-it-gatekeeper-in-landmark-move">iMore&#8217;s report, </a>Apple expressed deep concern over the privacy and data security risks the DMA poses. The company stated it will focus on mitigating these impacts while delivering top-quality products and services to its European customers.
If Apple fails to comply, it could face a fine of up to 10% of its global turnover, which could rise to 20% for repeat offenses. The DMA&#8217;s punitive measures also include &#8220;behavioral and structural remedies,&#8221; which might force Apple to sell parts of its business for &#8220;systematic infringements&#8221;.
The DMA&#8217;s ruling may lead to significant changes in Apple&#8217;s business model, potentially allowing third-party app stores and enabling users to uninstall default apps like Safari and Messages. Apple, however, has not indicated any intention to apply these changes beyond the EU.
These developments and the company&#8217;s response to the DMA&#8217;s obligations will likely impact Apple&#8217;s stock price.
Image Via shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: The owners of this brand-new phone can make money by playing video games, listening to music or reading the news. Its makers just hit $50 million in revenue and that's only one-tenth of what they have planned. The good news is that you can invest <a href="https://l.linklyhq.com/l/1sH4w">in it by clicking here.</a>
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