Tech Brew Ride Home Thu. 07/28 – Meta Goes Backwards For The First Time Ever
Jul 28, 2022
Meta is facing its first revenue decline ever, reflecting troubles in ad demand and regulatory pressures. The FTC is stepping in to block a VR acquisition, raising eyebrows about big tech's future. Meanwhile, Google has delayed the removal of third-party cookies again, causing ripple effects for advertisers. Users can also look forward to Gmail's fresh new look and features. In a groundbreaking twist, DeepMind's AI has cracked a major protein structure puzzle, revolutionizing biology and healthcare.
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Meta's Revenue Decline and AI Focus
- Meta reports its first-ever year-over-year quarterly revenue decline, citing weak ad demand and economic uncertainty.
- Mark Zuckerberg predicts AI will serve over 30% of content recommendations on Facebook and Instagram by late 2023.
FTC Challenges Meta's VR Acquisition
- The FTC sues to block Meta's acquisition of VR company Within, marking the first antitrust lawsuit under Lina Khan's leadership.
- This lawsuit challenges Meta's strategy of buying competitors instead of competing, particularly in emerging tech areas.
Jack Ma Relinquishes Ant Group Control
- Jack Ma plans to cede control of Ant Group, potentially delaying its IPO.
- This move follows government pressure to reduce Ma's influence and power.