Meta and US states agree to settle claims that platforms harmed children
Meta is truly a vilanous company.
Just this month, CEO Mark Zuckerberg was writing about all the jobs AI would create. Meanwhile, we learned in a Reuters report today that he was contemplating eliminating 60% of Meta's workforce this year.
In any case, he will need the savings as Meta will pay $16.7 billion to 29 states as part of an agreement today, just before jury selection was set to begin in the trial. The accusation was that the company designed Instagram and Facebook to addict children, misled consumers about their safety, and improperly collected personal data of kids.
What's bizarre to me is that his will function as a tax on a US company and some states will benefit but Meta did the same thing globally and if any country attemps a digital services tax or regulation, Trump launches a trade war.
In any case, this is investinglive, not moralitylive. The shares are up 4.5% pre-market. The history of the internet is that a bunch of ideas have ultimately converged on one killer-app: advertising. Google, Meta and (to a large extent) Amazon make their money in advertising and there's a good chance that the money in AI will be made that way as well. People think that ads "don't work" on them but they do and with AI, they will work better than ever before.
Meta's path to victory is to subsidize AI models but use the data to advertize to you. They have the reach, all they need is the model and they have a CEO who is willing to do things like target children and pay the fine if necessary.
So the question is: Do you want to be the morality police or do you want to make money?
This article was written by Adam Button at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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