‘Meta loses more’: Zuckerberg takes Threads fight to EU

US tech titan Mark Zuckerberg is withholding his new Threads app from European users due to “regulatory uncertainty,” but experts believe his strategy will likely fail. The move is seen as a political push against the EU, and the outcome of this battle could impact the regulatory landscape for other big tech platforms in Europe.

The Digital Markets Act (DMA) poses challenges for tech firms, prohibiting data transfer across platforms without user consent. Analysts predict that Meta will struggle to navigate compliance issues and may face unintended consequences.

Twitter rival Threads signs up 100 million users in five days

Instagram’s Threads app has gained over 100 million users in under five days, surpassing the growth rate of ChatGPT and other popular apps. However, its availability in Europe is uncertain due to data privacy concerns and conflicts with the EU’s regulations.

Meanwhile, Twitter has faced technical issues and controversies since Elon Musk acquired the platform, and Threads’ connection to Instagram’s extensive user base has contributed to its rapid growth.

The rivalry between Musk and Meta’s Mark Zuckerberg has escalated, with Musk threatening to sue Meta and proposing a “penis-measuring contest.”

Meta guru says ChatGPT-style AI is out-of-date

Yann LeCun, the chief scientist for Meta (formerly Facebook), declared that generative AI, such as ChatGPT, had reached a dead end and announced a new AI project called JEPA.

LeCun aims to move beyond generative models and develop AI that can conceptualize abstract ideas, challenging the existing hype around generative AI capabilities. Meta CEO Mark Zuckerberg emphasized the company’s focus on developing AI that better reflects human understanding of the world.

Meta has taken a more discreet approach to generative AI compared to its rivals, while also releasing open source AI models requiring less computing power.

Meta surges as earnings beat expectations after belt tightening

Shares of Meta (formerly Facebook) surged after it reported a Q1 profit of US$5.7bn, beating forecasts after cost-cutting measures. The number of monthly Facebook users grew to just under three billion, while the number of ads increased 26% YoY.

Meta CEO Mark Zuckerberg said that AI was driving good results and that the company would release a new model of its Quest virtual reality headset later this year.

Despite the positive news, Meta’s Reality Labs, which underpins its metaverse ambitions, reported an operating loss of nearly US$4bn.

Suit says Meta board ‘turned blind eye’ to human trafficking

Meta, the parent company of Instagram and Facebook, is facing a shareholder lawsuit filed in the US state of Delaware accusing its board members of ignoring human and sex trafficking on its platforms. The suit calls for Meta CEO Mark Zuckerberg and other executives to institute reforms and pay damages.

Meta has already been facing numerous lawsuits, including those related to mental health concerns of young users and allegations that it put profits before safety.

Facebook panel punt on Trump puts onus back on Zuckerberg

by Glenn Chapman Facebook’s top executives set up an independent oversight board to avoid having to make tough decisions about explosive content — but the panel’s first major ruling on Donald Trump sent the ball right back into Mark Zuckerberg’s court. The panel on Wednesday opted to uphold the ban on the former US president’s … Read more