Category: mark zuckerberg

The problem with Facebook


This post is by Om Malik from On my Om


Boywithadaimonring
 Photo courtesy of Emad/Stablity.ai via Twitter

The Verge reports on the internal challenges at Meta nee Facebook and how company is trying to deal with it. Mark Zuckerberg, co-founder and CEO of Meta has painted  Apple as enemy number one. I mean, why not. A slight change has lopped off billions in revenue and market capitalization.”Apple is going to be a competitor for us, not just as a product but philosophically.,” Zuck said. “It’s a very deep, philosophical competition about what direction the internet should go in.”

I am unsure what direction Apple wants to take us, but I can bet my last dollar; I don’t want to be in the future of the Internet that Zuckerberg is trying to build.

Our north star is can we get a billion people into the metaverse doing hundreds of dollars a piece in digital commerce by the end of the decade? If we do that, we’ll build a business that is as big as our current ad business within this decade. I think that’s a really exciting thing. I think a big part of how you do that is by pushing the open metaverse forward, which is what we’re going to do.

Meta’s north star doesn’t take into account value to the users, the benefit to the larger ecosystem or even the experience. Instead it is about how the company’s users time can be translated into dollars for the sole benefit for Meta. So, yes, there is a philosophical difference between them (Read more...)

Why Kylie is mad at Instagram? 


This post is by Om Malik from On my Om


Phone with social media icons next to a laptop.
Photo by Zhivko Minkov on Unsplash

The Internet has been abuzz following a post by Kylie Jenner, an influencer famous for being the sake of being a famous person. On Instagram, where 360 million Instagram accounts follow her, she said Instagram must stop trying to copy TikTok and remain Instagram so she can see cute photos of her friends. First, to be precise – the original post was created by Tati Bruening, who has 315,000 followers. 

Kylie being Jenner that she is, added “Pleaseeee” and took the attention away from the original post. Soon, family doyen Kim Kardashian and others from the clan of famous Internet people joined in. It got the headline machines humming. And the melee has become a significant news story – I mean, it’s not like we are dealing with war, climate crisis, or inflation. 

***

What has Instagram done that the Kardashians & the Jenners are so upset? Earlier in July 2022, the company decided any video under 15 minutes can and will be converted into a “Reel.” Reels, in case you were not following, are a clone of short-form TikTok videos. Recently, TikTok made it so that the videos on the service could be up to 15-minuteslong. So obviously, Facebook had to match them feature for feature. 

Instagram will take the video posted by any public account – someone like Kylie “The Crying” Jenner – and automatically push it into a recommendation algorithm, only to be shown to other accounts based on how people react to that (Read more...)

The Richest People in the World in 2022


This post is by Dorothy Neufeld from Visual Capitalist


Richest People in the World

The Richest People in the World in 2022

Today, the 10 richest people in the world control $1.3 trillion in wealth.

This scale of wealth is equal to approximately 1.4% of the world economy, Amazon’s entire market cap, or spending $1 million a day for 3,000 years. In fact, it’s double the amount seen just two years ago ($663 billion).

As billionaire wealth accumulates at a remarkable speed, we feature a snapshot of the world’s richest in 2022, based on data from the Forbes Real-Time Billionaires List.

Top 10 Richest People in the World

Elon Musk, with a fortune of $212 billion, is the richest person on the planet.

Tesla delivered nearly one million vehicles globally in 2021. Despite facing a computer chip shortage, Tesla deliveries rose 87% year-over-year. Musk, who is also CEO and chief engineer of SpaceX, plans to send the largest rocket ever built into orbit in 2022. It spans 119 meters tall.

Here are the richest people in the world, based on data as of March 14, 2022:

RankNameSourceNet Worth (Mar 2022)Net Worth (Mar 2021)Change 2021-22
1Elon MuskTesla, SpaceX$212B$151B$61B
2Jeff BezosAmazon$168B$177B-$9B
3
Bernard Arnault & family
LVMH$159B$150B$9B
4Bill GatesMicrosoft$130B$124B$6B
5Warren Buffett
Berkshire Hathaway
$119B$96B$23B
6Larry PageGoogle$108B$92B$16B
7Larry EllisonOracle$105B$93B$12B
8Sergey BrinGoogle$105B$89B$16B
9
Mukesh Ambani
(Read more...)

The World’s Billionaires, by Generation


This post is by Dorothy Neufeld from Visual Capitalist


infographic showing the world's billionaires by generation

The World’s Billionaires, by Generation

What similarities do the world’s billionaires share? What are their differences?

At the age of 12, Elon Musk built his first video game. Similarly, Mark Zuckerberg shared an interest in computer programming, building a simple messaging platform at the same age. The co-founder of Oracle, Larry Ellison, developed programming skills at college. All three span different generations and made their fortunes in tech.

In this infographic from BusinessFinancing.co.uk, we explore some characteristics of billionaires across generations, including their average net worth, top sectors, number of children, and most common city of residence.

The World’s Billionaires, by Generation

Using data from Forbes here is how each generation of the world’s billionaires break down.

Silent Generation

  • Born: 1928-1945
  • Average Net Worth: $5.5 billion
  • Most Popular Residence: New York, U.S.

Silent Generation billionaires are the wealthiest on average across generations. With CEO of Berkshire Hathaway Warren Buffett and Zara founder Amancio Ortega among its ranks, Silent Generation billionaires are most likely to be in finance, fashion, and real estate industries.

Top 5Sector%
1
Finance & Investments15.5%
2Fashion & Retail12.4%
3Real Estate9.8%
4Food & Beverage9.0%
5Manufacturing9.0%

Media mogul Rupert Murdoch, who owns The Wall Street Journal, Fox News, and The New York Post, is also part of this group. He has a net worth of $13 billion.

Baby Boomer

  • Born: 1946-1964
  • Average Net Worth: $4.6 billion
  • Most Popular Residence: New York, U.S.

Like the (Read more...)

MetaJob


This post is by Om Malik from On my Om


Facebook, if nothing else, is good at diverting attention away from itself and its pesky public relations nightmares. It doesn’t matter how bad things get – they know that everything becomes the proverbial fish wrap in time.  

Do you even remember that it was not even a week ago when The Facebook Papers dominated the media cycle? Me neither! I had already forgotten what it was all about. The slush of repetitive media coverage based on internal documents was nothing more than just a public relations headache. 

It was an easily solved problem. Change the company’s name (start with a careful leak,) throw in some vision, whip up a slick video, and then on the day of the annual developer conference, rename yourself, Meta. Facebook’s new name comes from Metaverse, which according to its CEO Mark Zuckerberg is the future of the internet where you are “in the experience, not just looking at it,” and “it will touch every product we build.” 

Even if you believe that Zuckerberg has been thinking about this for a few years — I don’t have any doubts about it — the timing of this announcement is expedient and shows that they are and will be masters of media manipulation.  

“It is a political strategy too, part of a broader push to rehabilitate the company’s reputation with policymakers and reposition Facebook to shape the regulation of next-wave Internet technologies, according to more than a dozen current and former Facebook employees,” reported The Washington Post. (Read more...)

Ranked: Big Tech CEO Insider Trading During the First Half of 2021


This post is by Aran Ali from Visual Capitalist


Ranked: Big Tech CEO Insider Trading During the First Half of 2021

Big Tech CEO Insider Trading During The First Half of 2021

When CEOs of major companies are selling their shares, investors can’t help but notice.

After all, these decisions have a direct effect on the personal wealth of these insiders, which can say plenty about their convictions with respect to the future direction of the companies they run.

Considering that Big Tech stocks are some of the most popular holdings in today’s portfolios, and are backed by a collective $5.3 trillion in institutional investment, how do the CEOs of these organizations rank by their insider selling?

CEOStockShares Sold H1 2021Value of Shares ($M)
Jeff BezosAmazon (AMZN)2.0 million$6,600
Mark ZuckerbergFacebook (FB)7.1 million$2,200
Satya NadellaMicrosoft (MSFT)278,694
$65
Sundar PichaiGoogle (GOOGL)27,000$62
Tim CookApple (AAPL)0$0

Breaking Down Insider Trading, by CEO

Let’s dive into the insider trading activity of each Big Tech CEO:

Jeff Bezos

During the first half of 2021, Jeff Bezos sold 2 million shares of Amazon worth $6.6 billion.

This activity was spread across 15 different transactions, representing an average of $440 million per transaction. Altogether, this ranks him first by CEO insider selling, by total dollar proceeds. Bezos’s time as CEO of Amazon came to an end shortly after the half way mark for the year.

Mark Zuckerberg

In second place is Mark Zuckerberg, who has been significantly busier selling than the rest.

In the first half of 2021, he unloaded (Read more...)