
<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Meta’s oversight board criticized the company’s updated hateful conduct policies, which included a provision allowing users to describe LGBTQ people as mentally ill, among other controversial updates, urging the company to assess the “human rights impact” of the policy on LGBTQ people, minors and immigrants.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>The Meta&nbsp;<a href="https://www.oversightboard.com/news/wide-ranging-decisions-protect-speech-and-address-harms/" rel="noreferrer noopener" target="_blank">oversight board</a>, which makes company decisions and conducts mediations and is sometimes referred to as Meta’s “Supreme Court,” issued a response to Meta’s hateful conduct policy change Wednesday, criticizing the update as “hastily” made.</p>



<p>Meta’s hateful conduct policy was updated “in a departure from regular procedure, with no public information shared as to what, if any, prior human rights due diligence the company performed,” the oversight board said.</p>



<p>The oversight board called on Meta to assess whether its updated hateful conduct policy would pose a threat to human rights, demanding the company provide a public report.</p>



<p>The oversight board also urged Meta to assess the effectiveness of its “community notes” policy, which it had adopted after abandoning third-party fact checking.</p>



<p>A Meta spokesperson told Forbes the company “respond to their full recommendations within 60 days in accordance with the bylaws.”</p>



<h2 class="wp-block-heading" id="h-how-did-meta-update-its-hateful-conduct-policy">How Did Meta Update Its Hateful Conduct Policy?</h2>



<p>Meta announced sweeping changes to its hateful conduct policy and other content moderation standards on Jan. 7, which it billed as an attempt to improve free speech and reduce censorship on its social media platforms. The policy changes included renaming the “hate speech” policy to “hateful conduct,” and according to the&nbsp;<a href="https://transparency.meta.com/policies/community-standards/hateful-conduct/" rel="noreferrer noopener" target="_blank">policy’s change log</a>&nbsp;on the Meta website, many references to specific examples of hateful conduct were erased, while other controversial examples were added. Among the updated policy changes is a provision that clarifies: “We do allow allegations of mental illness or abnormality when based on gender or sexual orientation, given political and religious discourse about transgenderism and homosexuality and common non-serious usage of words like ‘weird.’” Under a section barring dehumanizing speech, Meta erased a previous provision that had prohibited people from evoking offensive stereotypes, including referring to “women as household objects or property or objects in general” and “transgender or non-binary people as ‘it.’” Meta also abandoned its&nbsp;<a href="https://about.fb.com/news/2025/01/meta-more-speech-fewer-mistakes/" rel="noreferrer noopener" target="_blank">third-party fact-checking</a>&nbsp;program in favor of a community notes program like that on X, stating it would be “less prone to bias.”</p>



<h2 class="wp-block-heading" id="h-why-were-meta-s-conduct-policy-updates-controversial">Why Were Meta’s Conduct Policy Updates Controversial?</h2>



<p>Meta’s updated policies drew scrutiny and allegations it would lead to increased discrimination against LGBTQ people, women and people of color. The&nbsp;<a href="https://www.hrc.org/news/metas-new-policies-how-they-endanger-lgbtq-communities-and-our-tips-for-staying-safe-online" rel="noreferrer noopener" target="_blank">Human Rights Campaign</a>&nbsp;said these policy changes “create fertile ground for misinformation, identity-based harassment, and abuse, and threaten LGBTQ+ inclusion and safety across Meta,” accusing the company of taking “specific aim at LGBTQ+ people.”</p>



<h2 class="wp-block-heading" id="h-how-did-mark-zuckerberg-defend-meta-s-policy-updates">How Did Mark Zuckerberg Defend Meta’s Policy Updates?</h2>



<p>Meta CEO Mark Zuckerberg had defended Meta’s content moderation policy updates as a move to improve free speech, particularly during a high-profile appearance on Joe Rogan’s podcast, which has more than 9 million views on Rogan’s&nbsp;<a href="https://youtu.be/7k1ehaE0bdU?feature=shared" rel="noreferrer noopener" target="_blank">YouTube</a>&nbsp;channel. Zuckerberg said Facebook’s fact-checking policy was like “something out of 1984,” stating people felt the fact-checkers were too biased. “It really is a slippery slope, and it just got to a point where it&#8217;s just, OK, this is destroying so much trust, especially in the United States, to have this program,” praising Elon Musk’s X for adopting a community notes program in place of fact-checking. Zuckerberg said cracking down on hate speech “got to this point where there were things that you couldn’t say which were mainstream discourse,” citing Secretary of Defense&nbsp;<a href="https://apnews.com/article/pete-hegseth-background-defense-secretary-confirmation-hearing-e160e10c86385a8beff110d9190fb34e" rel="noreferrer noopener" target="_blank">Pete Hegseth’s</a>&nbsp;prior statement that women should not serve in certain combat roles, stating this type of speech should be allowed on social media if Hegseth could say it on the floor of Congress. Zuckerberg also said in the Rogan interview companies should adopt more “masculine” energy and accused former President Joe Biden’s administration of calling Meta to “scream” about monitoring Covid-19-related posts.</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://www.theguardian.com/technology/2025/jan/08/permitted-hateful-conduct-what-users-can-now-say-on-meta-platforms" rel="noreferrer noopener" target="_blank">Revisions of ‘hateful conduct’: what users can now say on Meta platforms</a>&nbsp;(The Guardian)</p>



<p><a href="https://www.axios.com/2025/01/10/mark-zuckerberg-joe-rogan-facebook-censorship-biden" rel="noreferrer noopener" target="_blank">Zuckerberg on Rogan: Facebook&#8217;s censorship was &#8220;something out of 1984&#8221;</a>&nbsp;(Axios)</p>


Meta CEO Mark Zuckerberg Interview On The Circuit

Meta Oversight Board Urges Company To Assess ‘Human Rights Impact’ Of Hateful Conduct Policy


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>The Supreme Court’s&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2025/01/10/supreme-court-signals-it-will-uphold-tiktok-ban-live-updates/">signaling</a>&nbsp;it may uphold a ban on TikTok, the wildly popular shortform video social media app, sent shockwaves through the stock market Friday, boosting shares of companies behind rival platforms and hitting hard one key TikTok partner.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>The Supreme Court heard oral arguments Friday in TikTok’s appeal against a law requiring its private Chinese parent company ByteDance to divest its TikTok holdings by or face a U.S. ban Jan. 19, and several justices&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2025/01/10/supreme-court-signals-it-will-uphold-tiktok-ban-live-updates/">cast doubt</a>&nbsp;on the legitimacy of TikTok’s argument.</p>



<p>In an otherwise&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/01/10/stocks-drop-after-jobs-report-shows-hot-us-labor-market-heres-why/">down day</a>&nbsp;for U.S. stocks – the S&amp;P 500 fell more than 1.5% to a two-month low and the tech-heavy Nasdaq was down 1.6% – two of the biggest stock gainers were a pair of American social media companies behind other short-form video platforms in Snapchat parent Snap, which owns TikTok competitor Spotlight, and Meta, which operates TikTok rival Instagram Reels.</p>



<p>Snap stock gained 4% by close, notching its highest intraday share price since Aug. 1, while shares of the much larger Meta rallied 1%.</p>



<p>Shares of Google parent Alphabet, which owns YouTube Shorts, were less affected by the TikTok hearing, dropping 1.1%, though that was a slimmer loss than the at least 1.4% losses experienced by stocks of Apple, Nvidia, Microsoft and Amazon, the world’s only other $2 trillion companies.</p>



<h2 class="wp-block-heading" id="h-big-number">Big Number</h2>



<p>$1.5 billion. That’s how much richer&nbsp;<a href="https://www.forbes.com/profile/mark-zuckerberg/">Meta CEO Mark Zuckerberg</a>&nbsp;got thanks to Friday’s rally, the biggest daily jump of any American billionaire, according to Forbes’ real-time&nbsp;<a href="https://www.forbes.com/real-time-billionaires/#5dd06783d788">net worth tracker</a>.</p>



<h2 class="wp-block-heading" id="h-contra">Contra</h2>



<p>Friday was a rough day for perhaps TikTok’s most notable American collaborator, software giant Oracle, whose stock tanked 5%, the worst daily loss of any of the U.S.’ 40 mega-cap companies worth at least $200 billion. Shares of Oracle hit their lowest price since early September. Oracle, which hosts the U.S. data of TikTok,&nbsp;<a href="https://www.cnbc.com/2024/06/24/oracle-warns-that-a-tiktok-ban-would-hurt-business.html" rel="noreferrer noopener" target="_blank">cautioned</a>&nbsp;in July its earnings would take a hit if TikTok got banned. Oracle’s cofounder and chairman,&nbsp;<a href="https://www.forbes.com/profile/larry-ellison/">Larry Ellison</a>, was the biggest billionaire loser Friday, as his net worth tanked $10 billion.</p>



<p>PROMOTED</p>



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



<p>Betting markets have moved heavily in favor of a TikTok ban: The odds of a TikTok ban by May have jumped from 30% to 70% over the last week on the blockchain-based site&nbsp;<a href="https://polymarket.com/event/tiktok-banned-in-the-us-before-may-2025?tid=1736539655150" rel="noreferrer noopener" target="_blank">Polymarket</a>.</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>Meta and Oracle’s opposite fortunes widened the net worth gap between Zuckerberg, the world’s third-richest person, and Ellison, the fourth-wealthiest, to nearly $20 billion, just two days after Zuckerberg’s riches <a href="https://www.forbes.com/sites/mollybohannon/2025/01/06/mark-zuckerberg-overtakes-larry-ellison-as-worlds-third-wealthiest-person/">surpassed</a> Ellison’s. ByteDance last fetched a <a href="https://www.forbes.com/sites/alexkonrad/2023/05/04/bytedance-scrutiny-leaves-midas-investors-waiting-billions/">$220 billion</a> valuation in a 2023 funding round and valued itself internally at $300 billion in November, according to <a href="https://www.reuters.com/technology/tiktok-parent-bytedances-valuation-hits-300-billion-amid-us-ban-uncertainty-wsj-2024-11-16/" target="_blank" rel="noreferrer noopener">Reuters</a>, which would make it the world’s second-most valuable private company, trailing only SpaceX, which valued itself at $350 billion in an internal share sale last month, <a href="https://www.bloomberg.com/news/articles/2024-12-10/spacex-share-sale-is-said-to-value-company-at-about-350-billion" target="_blank" rel="noreferrer noopener">Bloomberg</a> reported.</p>


Meta Announces Threads App

Meta Stock Rallies, Oracle Slides As Market Reacts To TikTok Ban Hearing At Supreme Court


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Meta will drop its fact-checking program and replace it with an X-style community notes feature, the social media giant’s CEO Mark Zuckerberg announced Tuesday, saying the move will help restore “free expression” on the company’s platforms as he attacked governments and legacy media by accusing them of pushing for more censorship.</p>



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



<p>In a&nbsp;<a href="https://www.facebook.com/zuck/videos/1525382954801931" rel="noreferrer noopener" target="_blank">video posted on Facebook</a>, Zuckerberg said the company is going to get back to its “roots” and focus on “simplifying our policies and restoring free expression on our platforms.”</p>



<p>The Meta CEO then specified that the company would “get rid of fact-checkers” and replace them with “community notes similar to X,” starting first in the U.S.</p>



<p>Zuckerberg said the recent U.S. elections felt like “a cultural tipping point towards, once again, prioritizing speech.”</p>



<p>The billionaire added that the debate about “potential harms from online content” had led to Meta developing “complex systems” to moderate content, which led to “too many mistakes” and “too much censorship.”</p>



<p>Zuckerberg claimed that the fact-checkers implemented by Meta “have been too politically biased and have destroyed more trust than they have created.”</p>



<h2 class="wp-block-heading" id="h-what-are-the-changes-being-implemented-by-meta">What Are The Changes Being Implemented By Meta?</h2>



<p>The company’s new Chief Global Affairs Officer, Joel Kaplan, detailed the changes in a&nbsp;<a href="https://about.fb.com/news/2025/01/meta-more-speech-fewer-mistakes/" rel="noreferrer noopener" target="_blank">blog post, saying</a>: “We’ve seen this approach work on X.” Once operational, Meta won’t write any of the community notes or decide “which ones show up.” The feature will “require agreement between people with a range of perspectives to help prevent biased ratings,” the blog noted. Community Notes will be rolled out in phases over the next few months and will appear on Facebook, Instagram and Threads. Meta will also be loosening its moderation policies and removing restrictions on topics like “immigration, gender identity and gender that are the subject of frequent political discourse and debate.” In his announcement, Zuckerberg claimed these restrictions are “out of touch with mainstream discourse,” and said they had been used as a tool to “shut down opinions,” instead of being more inclusive. The company is also rolling back its efforts to reduce the visibility of political content, saying it wants to replace its “blunt approach” with a “more personalized approach so that people who want to see more political content in their feeds can.” This means political content will be ranked and displayed “like any other content in your feed.”</p>



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<p>Meta’s changes come as Zuckerberg has made several public overtures to mend his and his company’s tense relationship with President-elect Donald Trump. Meta suspended Trump from all its platforms after the Jan. 6 Capitol riots and, which Trump said at the time was “an insult” to Americans who voted for him, and added: “They shouldn’t be allowed to get away with this censoring and silencing, and ultimately, we will win.” While his accounts were eventually&nbsp;<a href="https://about.fb.com/news/2023/01/trump-facebook-instagram-account-suspension/" rel="noreferrer noopener" target="_blank">restored</a>&nbsp;in 2023, Trump and his allies continued to attack Meta and Zuckerberg. Last year, Trump said Meta was a bigger threat than the Chinese social media platform TikTok and&nbsp;<a href="https://www.forbes.com/sites/maryroeloffs/2024/03/11/trump-says-tiktok-ban-could-make-facebook-bigger-slams-meta-as-enemy-of-the-people/">called it</a>&nbsp;“an enemy of the people.” In late November, Zuckerberg&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/11/28/zuckerberg-meets-with-trump-at-mar-a-lago-in-bid-to-mend-strained-relationship/">met with Trump</a>&nbsp;at his Mar-A-Lago residence in Florida, a move that was seen as a bid by the Meta CEO to mend the strained ties. At the time, Meta said Zuckerberg was “grateful for the invitation to join President Trump for dinner and…meet with members of his team about the incoming administration.” Trump’s pick for deputy chief of staff for policy Stephen Miller told Fox News Zuckerberg informed Trump that “he wants to support the national renewal of America under Trump’s leadership,” and he sees the president-elect as an “agent of change and…prosperity.”</p>



<h2 class="wp-block-heading" id="h-big-number">Big Number</h2>



<p>$1 million. That is the amount Meta has&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/12/12/meta-donates-1-million-to-trumps-inaugural-fund-weeks-after-ceo-zuckerberg-met-president-elect/">donated</a>&nbsp;to Trump’s inaugural fund.</p>



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<p><a href="https://www.forbes.com/sites/siladityaray/2024/12/12/meta-donates-1-million-to-trumps-inaugural-fund-weeks-after-ceo-zuckerberg-met-president-elect/">Meta Donates $1 Million To Trump’s Inaugural Fund Weeks After Mark Zuckerberg Met President-Elect</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/2024/11/28/zuckerberg-meets-with-trump-at-mar-a-lago-in-bid-to-mend-strained-relationship/">Zuckerberg Meets With Trump At Mar-A-Lago After Years Of Strained Ties</a>&nbsp;(Forbes)</p>



<p></p>


Key Speakers At The Meta Connect Event

Meta Ditches Fact-Checks For X-Style Community Notes—Zuckerberg Says It Will Restore ‘Free Expression’


<h2 class="wp-block-heading" id="h-topline">Topline</h2>



<p>Meta shares soared during premarket trading on Thursday, extending a rally from the day before after the social media titan <a href="https://www.forbes.com/sites/dereksaul/2024/07/31/meta-earnings-deliver-stock-jumps-as-profits-soar-73/">reported</a> strong earnings in its core ad business as CEO Mark Zuckerberg strives to soothe investor concerns over the company’s aggressive investments in artificial intelligence.</p>



<h2 class="wp-block-heading">Key Facts</h2>



<p>Meta shares were up more than 7.5% during premarket trading as of just after 7 a.m. EDT on Wednesday after the company exceeded analysts’ expectations in its second-quarter earnings report.</p>



<p>The tech giant, whose social media platforms include WhatsApp, Instagram and Facebook, said net income in the second quarter climbed 73% to $13.47 billion, and Meta shares had climbed 2.5% by market close before the earnings drop.</p>



<p>Meta’s Frankfurt-listed shares also rose more than 7% on Thursday.</p>



<p>The rally marks a turnaround from the&nbsp;<a href="https://www.forbes.com/sites/roberthart/2024/04/25/tech-stocks-tumble-as-metas-ai-bet-spooks-investors/">reaction sparked by</a>&nbsp;Meta’s last earnings report in April when Zuckerberg told investors to expect slower growth and big spending on the company’s AI projects.</p>



<p>Meta shares&nbsp;<a href="https://www.forbes.com/sites/roberthart/2024/04/25/tech-stocks-tumble-as-metas-ai-bet-spooks-investors/">plummeted</a>&nbsp;following the announcement and the news sparked a wider selloff across the tech sector as investors questioned whether big tech’s big bets on AI would pay off.</p>



<p>While Meta bumped the lower end of its range for capital expenditures to account for its AI projects, Zuckerberg said its investments in the technology were beginning to bear fruit and that the costs are outweighed by the company’s strong performance in its core advertising business.</p>



<h2 class="wp-block-heading">Forbes Valuation</h2>



<p>Zuckerberg, who cofounded and led Meta’s precursor, Facebook, is&nbsp;<a href="https://www.forbes.com/profile/mark-zuckerberg/?list=rtb/&amp;sh=7f054a7e3e06">worth</a>&nbsp;an estimated $166.6 billion. His fortune, a large portion of which comes from his founding stake in Facebook, has grown by $4 billion, or 2.5%, over the last 24 hours. Zuckerberg is the&nbsp;<a href="https://www.forbes.com/real-time-billionaires/#40d647753d78">fifth richest person</a>&nbsp;in the world, behind Larry Ellison, Bernard Arnault, Jeff Bezos and Elon Musk (who he has&nbsp;<a href="https://www.forbes.com/sites/kerryadolan/2023/09/26/mark-gets-meta-zuckerberg-talks-ai-and-that-musk-mma-fight-thats-never-going-to-happen/?sh=426454083037">feuded</a>&nbsp;with publicly and agreed to fight in a cage match).</p>



<h2 class="wp-block-heading">Key Background</h2>



<p>Meta has bucked the trend of other big tech companies issuing earnings reports in recent weeks as investors grow more skeptical over whether their heavy investments in AI are paying off. Shares for <a href="https://www.forbes.com/sites/dereksaul/2024/07/30/microsoft-earnings-stock-tanks-as-ai-business-growth-worse-than-expected/">Microsoft</a> and <a href="https://www.forbes.com/sites/dereksaul/2024/07/24/elon-musks-net-worth-falls-16-billion-as-tesla-stock-tanks/">Tesla</a> tanked following their earnings reports and shares for <a href="https://www.wsj.com/livecoverage/stock-market-today-earnings-dow-sp500-nasdaq-07-23-2024/card/alphabet-earnings-what-to-watch-3TR22ZbujXxcZHWhrXcx#:~:text=Alphabet%20shares%20were%20down%20nearly,with%20%2484.21%20billion%20analysts%20expected." target="_blank" rel="noreferrer noopener">Google parent Alphabet </a>also fell after its report. Analysts at UBS articulated growing concerns among investors when it <a href="https://www.forbes.com/sites/roberthart/2024/07/24/tesla-slide-continues-as-analysts-reality-check-musks-ai-hype-that-has-overvalued-stock/">doubled down</a> on its decision to <a href="https://www.forbes.com/sites/roberthart/2024/07/12/tesla-sell-off-continues-as-analysts-warn-ai-hype-has-gone-too-far/">downgrade</a> Tesla from neutral to sell over fears market hype over AI and Musk’s grandiose rhetoric for the company’s future with the technology were out of touch with reality and the ability of investments in the technology to pay off in the short term, or even at all.</p>



<h2 class="wp-block-heading">What To Watch For</h2>



<p>Amazon is&nbsp;<a href="https://www.reuters.com/technology/artificial-intelligence/amazon-set-join-big-techs-spending-surge-ai-race-heats-up-2024-07-31/" rel="noreferrer noopener" target="_blank">due</a>&nbsp;to issue its second-quarter earnings report on Thursday. The e-commerce and cloud computing giant is widely expected to reveal surging capital spending on AI, in line with Microsoft and Google.&nbsp;<a href="https://www.reuters.com/technology/artificial-intelligence/amazon-set-join-big-techs-spending-surge-ai-race-heats-up-2024-07-31/" rel="noreferrer noopener" target="_blank">According</a>&nbsp;to LSEG data, capital investments are expected to have climbed 43% to more than $16 billion in the second quarter. Most of this will be for cloud computing and generative AI infrastructure. Amazon shares were up 1.3% during premarket trading.</p>


Meta Shares Rally As Tech Giant’s Aggressive AI Investments Start Paying Off


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Meta registered its highest-ever share price Friday, potentially completing the social media giant’s dramatic recovery amid Wall Street’s renewed faith in Meta CEO Mark Zuckerberg, who has refocused the firm&#8217;s attention on improving bottom lines.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>Shares of Meta climbed as much as 2.2% to $384.36 in Friday trading, eking out their prior intraday high of $384.33 set in September 2021.</p>



<p>Meta, which also broke its prior high closing share price of $382, capped a significant comeback from the stock’s 77% collapse from its 2021 peak to its November 2022 nadir.</p>



<p>The 2021-22 unraveling, though coming as worsening economic conditions and the threat of higher interest rates broadly weighed on technology stocks, notably coincided with Meta’s&nbsp;<a href="https://www.forbes.com/sites/lisakim/2021/10/28/facebook-announces-new-name-meta/">name change</a>&nbsp;from Facebook to reflect the company’s shifting focus away from its core social media product and into Zuckerberg’s pet “metaverse” augmented and virtual reality passion project.</p>



<p>The metaverse push&nbsp;<a href="https://www.forbes.com/sites/digital-assets/2023/07/26/metaverse-results-keep-getting-worse-at-meta/?sh=78e1c8672b24">proved</a>&nbsp;highly unpopular among investors, as the company’s augmented and virtual division reported $13.7 billion of operating losses in 2022.</p>



<p>But Meta shares came roaring back in 2023 as Zuckerberg&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2023/03/14/meta-cuts-another-10000-jobs/?sh=1d164387725b">touted</a>&nbsp;the company’s “year of efficiency”&nbsp;<a href="https://www.reuters.com/technology/meta-lay-off-employees-metaverse-silicon-unit-wednesday-2023-10-03/" target="_blank" rel="noreferrer noopener">marked</a>&nbsp;by more than 20,000 layoffs and a push to boost profits, an effort that began to bear fruit in Meta’s results as the company is fresh off of its most profitable quarter ever, generating $13.9 billion in cash during the quarter ending September 30, 2022.</p>



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



<p>Meta was the S&amp;P 500’s second-best performer of 2023, returning almost 200%. Its gains came during a broad rally for big tech stocks, and the tech-heavy Nasdaq index rose more than 40% last year. Zuckerberg, who owns about 13% of the company, grew much richer as Meta stock soared. His $134 billion net worth Friday, <a href="https://www.forbes.com/profile/mark-zuckerberg/?sh=51ad6d243e06">as estimated</a> by Forbes, is the fifth-largest fortune in the world.</p>



<h2 class="wp-block-heading">SURPRISING FACT</h2>



<p>Meta is now within 2% of achieving a $1 trillion market capitalization for the first time in its history. Apple, Microsoft, Saudi Aramco, Alphabet, Amazon and Nvidia are the only companies in the world now valued at over $1 trillion. Meta’s roughly $985 billion market cap Friday made it the world’s seventh-most valuable company.</p>



<h2 class="wp-block-heading">WHAT TO WATCH FOR</h2>



<p>Meta will report fourth-quarter and full-year financial results February 1. Analysts expect Meta to report its most profitable year ever with a record $72.6 billion of projected EBITDA (earnings before interest, taxes, depreciation and amortization), according to FactSet.</p>


In this photo illustration the American online social media

Meta Stock Sets Record High—How It Emerged From 77% Plunge And Metaverse Fiasco


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Meta inched toward its highest-ever share price Friday, potentially completing the social media giant’s dramatic recovery amid Wall Street’s renewed faith in Meta CEO Mark Zuckerberg, who has refocused the firm&#8217;s attention on improving bottom lines.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Shares of Meta climbed as much as 1.7% to $382.59 in morning trading, hitting their highest level in more than two years and testing their prior intraday high of $384.33 set in September 2021.</p>



<p>Meta, which is also on the cusp of breaking its prior high closing share price of $382, can cap a significant comeback from the stock’s 77% collapse from its 2021 peak to its November 2022 nadir.</p>



<p>The 2021-22 unraveling, though coming as worsening economic conditions and the threat of higher interest rates broadly weighed on technology stocks, notably coincided with Meta’s&nbsp;<a href="https://www.forbes.com/sites/lisakim/2021/10/28/facebook-announces-new-name-meta/">name change</a>&nbsp;from Facebook to reflect the company’s shifting focus away from its core social media product and into Zuckerberg’s pet “metaverse” augmented and virtual reality passion project.</p>



<p>The metaverse push&nbsp;<a href="https://www.forbes.com/sites/digital-assets/2023/07/26/metaverse-results-keep-getting-worse-at-meta/?sh=78e1c8672b24">proved</a>&nbsp;highly unpopular among investors, as the company’s augmented and virtual division reported $13.7 billion of operating losses in 2022.</p>



<p>But Meta shares came roaring back in 2023 as Zuckerberg <a href="https://www.forbes.com/sites/dereksaul/2023/03/14/meta-cuts-another-10000-jobs/?sh=1d164387725b">touted</a> the company’s “year of efficiency” <a href="https://www.reuters.com/technology/meta-lay-off-employees-metaverse-silicon-unit-wednesday-2023-10-03/" target="_blank" rel="noreferrer noopener">marked</a> by more than 20,000 layoffs and a push to boost profits, an effort that began to bear fruit in Meta’s results as the company is fresh off of its most profitable quarter ever, generating $13.9 billion in cash during the quarter ending September 30, 2022.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Meta was the S&amp;P 500’s second-best performer of 2023, returning almost 200%. Its gains came during a broad rally for big tech stocks, and the tech-heavy Nasdaq index rose more than 40% last year. Zuckerberg, who owns about 13% of the company, grew much richer as Meta stock soared. His $134 billion net worth Friday,&nbsp;<a href="https://www.forbes.com/profile/mark-zuckerberg/?sh=51ad6d243e06">as estimated</a>&nbsp;by Forbes, is the fifth-largest fortune in the world.</p>



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



<p>Meta is now within 2% of achieving a $1 trillion market capitalization for the first time in its history. Apple, Microsoft, Saudi Aramco, Alphabet, Amazon and Nvidia are the only companies in the world now valued at over $1 trillion. Meta’s roughly $980 billion market cap Friday made it the world’s seventh-most valuable company.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>Meta will report fourth-quarter and full-year financial results February 1. Analysts expect Meta to report its most profitable year ever with a record $72.6 billion of projected EBITDA (earnings before interest, taxes, depreciation and amortization), according to FactSet. </p>



<p><a href="https://www.forbes.com/sites/dereksaul/"></a></p>


gettyimages-1197863868-594×594

Meta Stock On Cusp Of Record High—How It Emerged From 77% Plunge And Metaverse Fiasco


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Facebook and WhatsApp parent Meta will launch the firm’s long awaited competitor to Twitter, Instagram Threads, on Thursday, escalating the personal rivalry between feuding billionaires Mark Zuckerberg and Elon Musk and firmly throwing down the gauntlet after another chaotic weekend had the platform’s users searching for alternatives.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Meta’s app, Threads, is listed as “coming soon” on Apple’s App Store and is available for pre-order.</p>



<p>The listing said Threads is “expected July 6” and Meta’s countdown&nbsp;<a href="https://www.threads.net/" target="_blank" rel="noreferrer noopener">website</a>&nbsp;for the launch indicates the app will go live at 10 a.m. ET (7 a.m. PT), though it’s unclear whether Meta plans to stagger the rollout in some way.</p>



<p>Details on the full nature of Threads are scarce but the listing describes the platform as a “text-based conversation app” and screenshots show a dashboard that appears very similar to Twitter’s app, with the ability to like, share, post and repost content.</p>



<p>Threads will be directly linked to Meta’s popular photo sharing platform Instagram and screenshots suggest users can keep their usernames and easily follow the same accounts they do on Instagram on the new platform.</p>



<p>From the listing, Threads looks likely to be a free service in exchange for personal data, a model in line with many of Meta’s other popular apps and other free online services.</p>



<p>Instagram Threads users will need to be at least 12 years old, according to the App Store listing.</p>



<h2 class="wp-block-heading" id="h-what-we-don-t-know">WHAT WE DON’T KNOW</h2>



<p>It’s not clear when Threads will be launched on Android systems or whether the network will be accessible without the app. A similar listing of Threads&nbsp;<a href="https://www.theverge.com/2023/7/1/23781271/instagram-threads-twitter-leak-android-google-play" target="_blank" rel="noreferrer noopener">reportedly appeared</a>&nbsp;on the Google Play store—which serves Android devices—on Saturday showing similar features, images and descriptions. The post, which did not list a release date, was seemingly in error and was swiftly removed from the store.</p>



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



<p>Meta’s release of a product to rival Twitter is both timely and expected. Meta, formerly Facebook, has a well documented history of lifting features from competitors—its short-form video feature Reels draws from TikTok,&nbsp;<a href="https://techcrunch.com/2022/09/13/meta-announces-discord-like-community-chats-on-messenger/" target="_blank" rel="noreferrer noopener">community chats</a>&nbsp;from Discord and disappearing video and photo feature Stories from&nbsp;<a href="https://www.businessinsider.com/how-developer-mark-zuckerberg-invented-instagram-stories-copied-snapchat-2020-4?r=US&amp;IR=T" target="_blank" rel="noreferrer noopener">Snapchat</a>—to varying degrees of success. Twitter is an obvious target, with many users keen to jump ship given the parade of controversy and service issues that has followed Elon Musk’s takeover last year, including drastic revisions to longstanding verification and content moderation policies, cutting company headcount to the bone, changes to who can access platform data and numerous system outages. Most recently, Musk limited the number of posts users—even paying users—could see on Twitter and required users to have registered for accounts to view tweets. With each new development, rivals like Bluesky, Trump’s Truth Social and Mastodon have&nbsp;<a href="https://techcrunch.com/2023/07/03/twitter-competitors-soar-after-yet-another-bad-musk-move/" target="_blank" rel="noreferrer noopener">benefited handsomely</a>, though none have yet managed to gain the kind of traction needed to fully take on an established social media giant like Twitter. With its vast resources and established social networks, Threads’ arrival could pose a serious threat to Twitter.</p>



<h2 class="wp-block-heading" id="h-forbes-valuation">FORBES VALUATION</h2>



<p>$101.5 billion. That’s how much&nbsp;<em>Forbes</em>&nbsp;<a href="https://www.forbes.com/profile/mark-zuckerberg/?list=rtb/&amp;sh=470e77f63e06">estimates</a>&nbsp;Mark Zuckerberg is worth, according to our live tracker. Zuckerberg’s fortune is largely derived from his stake in Meta and it makes him the 10th richest person in the world. Musk is worth an&nbsp;<a href="https://www.forbes.com/profile/elon-musk/?sh=595dbf9d7999">estimated</a>&nbsp;$249.4 billion and currently holds the top position in&nbsp;<em>Forbes’</em>&nbsp;list of the world’s wealthiest people. The two billionaires have reportedly been&nbsp;<a href="https://www.wsj.com/articles/elon-musk-mark-zuckerberg-cage-fight-b71fa4ff" target="_blank" rel="noreferrer noopener">feuding</a>&nbsp;for years, though this recently spilled out into the public domain and the pair are apparently primed to settle things with a literal fight. It is unclear whether the agreed upon “cage match” will ever happen.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.wsj.com/articles/elon-musk-mark-zuckerberg-cage-fight-b71fa4ff" target="_blank" rel="noreferrer noopener">Behind the Musk-Zuckerberg ‘Cage Match’ Is a Yearslong Billionaire Feud</a> (WSJ)</p>


In this photo illustration, a user sees in his download

Meta’s Twitter Rival Threads Will Launch Thursday As Chaos Continues On Elon Musk’s Platform


<p>Facebook’s parent company says it will no longer let advertisers buy targeted ads for users based on sensitive information such as race, political affiliation, sexual orientation, religion or health. &nbsp;</p>



<p>In one of its first major moves since&nbsp;<a href="https://www.forbes.com/sites/martyswant/2021/11/03/with-facebook-becoming-meta-chief-marketing-officer-alex-schultz-says-were-not-running-from-anything/?sh=2214098856be">rebranding as Meta</a>, the company plans to remove options to target people based on how people reference causes, organizations or public figures. The changes—which will go into effect on January 19—will be rolled out across all of Meta’s platforms including Facebook, Instagram, Messenger and WhatsApp as well as its network of other websites and apps using Facebook’s ad-targeting tools. For example, advertisers will no longer see health-related categories for keywords such as “World Diabetes Day” and “Chemotherapy” or religion-based keywords including “Catholic Church” and “Jewish Holidays.”</p>



<p>In a blog post published today about the decision, Graham Mudd, Meta’s vice president of product marketing and ads, wrote that the company wants to “better match people’s evolving expectations of how advertisers may reach them on our platform.” He said the changes are based on feedback from policymakers, civil rights experts and others as a way to prevent advertisers from abusing the platform.&nbsp;</p>



<p>“It is important to note that the interest targeting options we are removing are not based on people’s physical characteristics or personal attributes, but instead on things like people’s interactions with content on our platform,” Mudd wrote. “However, we’ve heard concerns from experts that targeting options like these could be used in ways that lead to negative experiences for people in underrepresented groups.”</p>



<p>In a series of tweets about the decision, Roy Austin Jr., Facebook’s vice president of civil rights, said the decisions to remove ad-targeting options <a href="https://twitter.com/RAustin_Jr/status/1458165826670956546?s=20" target="_blank" rel="noreferrer noopener">“wasn’t an easy decision.”</a> He added that some advertisers expressed concern about their ability to “help generate positive societal change.” The company is also adding new tools to let users choose to see fewer ads about types of content they might not be interested in. While the company already gives people control over opting out of ads related to alcohol, parenting and politics, users will be able to also see fewer ads about gambling and weight loss beginning next year.</p>



<p>Samidh Chakrabarti, who led Facebook’s civic integrity team before leaving in September, wrote on Twitter that Meta’s updates are “an important step.” However, he said the company should also agree to a third-party audit to detect potential bias in the ad delivery system.</p>



<p>“Modern ad networks now deliver ads so precisely that they may create more bias than ad targeting itself,” Chakrabarti wrote.</p>



<p>Meta’s moves comes as European lawmakers are pushing to regulate how Facebook and other tech giants collect and use data for advertising. During the annual Web Summit tech conference last week, Věra Jourová, European Commission vice president for values and transparency,&nbsp;<a href="https://www.forbes.com/sites/martyswant/2021/11/02/european-union-lawmaker-says-whistleblowers-highlight-the-need-for-regulating-online-political-advertising/?sh=3ba7bcad31e3">said sensitive personal information shouldn’t be allowed for use in political advertising</a>. She said users should know why they’re seeing an ad, who paid for it and which data was used to target them, adding that there should also be a way to opt out.</p>



<p>“As we always say in Europe, we want technologies to serve the people and not vice-versa,” she said during a press conference in Lisbon. “Big Tech has really big power, but they did not assume the responsibility.”</p>



<p>Meta’s decisions to remove sensitive ad-targeting tools follows another big decision by the company to&nbsp;<a href="https://www.forbes.com/sites/annakaplan/2021/11/02/facebook-shutting-down-facial-recognition-software/?sh=249a30a66e90">shut down its facial recognition software</a>, which has long been seen by many consumer advocates as an invasion of user privacy. The change, announced last week, will begin rolling out over the next few weeks while Facebook deletes face scans of more than a billion users. The update also will end the social network’s ability to automatically suggest tagging people in photos and also affect a tool that helps blind and visually-impaired users identify images via text descriptions.</p>



<p>Earlier today, Meta also released its&nbsp;<a href="https://transparency.fb.com/data/community-standards-enforcement/" target="_blank" rel="noreferrer noopener">quarterly report</a>&nbsp;detailing how it enforced its policies from July through September of 2021 including detailed information about&nbsp;<a href="https://www.engadget.com/metas-latest-transparency-report-details-bullying-and-harassment-on-facebook-and-instagram-182854231.html" target="_blank" rel="noreferrer noopener">bullying and harassment on Facebook and Instagram</a>. The company also said it will let EY conduct an external audit of its metrics in the fourth quarter.</p>



<p>Although Meta is making a number of changes to its own policies, U.S. lawmakers continue looking at ways to regulate the company and other tech giants. Earlier today, a bi-partisan group of lawmakers announced new legislation that would let users opt out of having companies’ algorithms serve up data-driven content.&nbsp;</p>



<p>“This commonsense legislation will increase data transparency, expand consumer privacy, and shed light on mechanisms used to power Big Tech platforms,” U.S. Rep. Burgess Owens, R-Utah, one of the bill’s co-sponsors, wrote in a tweet.</p>



<p>Last month, Democratic lawmakers introduced a bill that would remove liability protections when a platform “knowingly or recklessly promotes harmful content.” A third bill, introduced by U.S. Sen. Catherine Cortez Masto, D-Nevada, would change the way large companies are able to collect, use or share user data while giving additional enforcement powers to the Federal Trade Commission and state attorneys general.</p>



<p><strong><em>By Marty Swant, Forbes Staff</em></strong></p>


Tag: Meta

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