Social Media Companies

Facebook could face ‘record-setting’ fine from FTC

Facebook could soon set a new record — just not the good kind.

The Federal Trade Commission is reportedly considering a “record-setting” fine for the social network, as the result of its investigation into Facebook’s privacy practices following the Cambridge Analytica scandal, which revealed Facebook had exposed the personal data of millions of users.

The FTC confirmed it had opened an investigation into Facebook in March. 

Now, The Washington Post reports that investigation could result in a massive fine for the company.

“The penalty is expected to be much larger than the $22.5 million fine the agency imposed on Google in 2012,” according to The Post. That fine, while not the largest ever imposed by the FTC, was the body’s largest fine for a privacy violation.  Read more…

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Facebook to teens: Plz laugh at these old memes

Facebook, as part of its never-ending quest to win over teens, is now working on a feature just for memes and funny viral content.

The social network is experimenting with something it’s calling “LOL,” according to TechCrunch, which got a look at some early beta versions of the feature. 

While Facebook could eventually decide to make LOL into its own app, it’s for now part of the main Facebook app, as the company tests out the new experience, which TechCrunch describes as “a special feed of funny videos and GIF-like clips.”

“We are running a small scale test and the concept is in the early stages right now,” a Facebook spokesperson said in a statement to Mashable.. Read more…

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Jack Dorsey’s footwear evolution: An investigation

At the last real day of CES (before Kanye showed up and tried to make the vacant halls of Thursday a “thing”), Twitter CEO Jack Dorsey held a public discussion to clue us all in on his efforts to make Twitter better.

But hey! Forget the hate speech, Nazis, account-muting, and general directionlessness of Dorsey’s social media devil child for a sec. What the people really wanted to know about were Jack’s SHOES.

What are those shoes @jack? #CES pic.twitter.com/53pc4nkHDD

— Rich Greenfield (@RichBTIG) January 9, 2019

Waiting for @Jack at #CES2019. Wondering if we’ll see his trademark thong-style sandals today..pic.twitter.com/D6gyvcK83Z

— Michael Nuñez (@MichaelFNunez) January 9, 2019 Read more…

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Snapchat survey finds that Snapchat makes people happy

Nothing brings joy like a grotesquely distorted face filter.

According to a Snap-commissioned survey focused on how social media makes people feel, 95 percent of Snapchat users said using the app makes them feel “happy.” 

Commissioning studies is common amongst the social media and tech industries. And while all commissioned surveys should be taken with a grain of salt — for example, the survey did not give “happiness” percentages for any other apps — Snap’s results do actually mirror some recent independent studies about how social media positively affects mood. 

The survey results also have a business upside: They serve to differentiate Snapchat from social media competitors that are increasingly getting a bad rap as the public becomes more critical and wary of the industry as a whole.  Read more…

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