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How Meta's Recent Layoffs Made A Big Impact On Profits

In the past year, Meta has undergone significant transformations, particularly in its approach to workforce management. Meta’s decisions regarding layoffs have not only attracted attention but have had a substantial impact on the company’s financial performance. Meta incurred staggering losses totaling $16 billion, primarily attributed to its Metaverse endeavors, mainly its Reality Labs division responsible for Oculus goggles. This marked a significant increase from the previous year’s loss of $13.7 billion, with Meta reporting a loss of $4.6 billion in the final quarter of 2023. Meta’s Stock Surge And Improved Margins Despite these substantial deficits, Meta’s stock surged by 12% following recent updates, largely due to the company’s improved margins. Meta’s revenue increased by 16%, while operating income and profits surged by 62% and 69%, respectively. CEO Mark Zuckerberg has assured investors of further losses in the future due to ongoing investments in augmented reality/...

Feb 16, 2024

The Former Global Diversity Strategist For Facebook Pleads Guilty To Wire Fraud Of $4M From The Company

A scheme led by an ex-Facebook employee has come to light. CNBC reports that on Dec. 11, Barbara Furlow-Smiles, a former Facebook global diversity strategist, pleaded guilty to wire fraud. Federal prosecutors detailed that Furlow-Smiles stole over $4 million from the company “to fund a lavish lifestyle in California and Georgia.”

Dec 15, 2023

If You're An Instagram User, Here's One Thing You Should Know Before Making Your Threads Profile

There’s a new social media platform in town — and it’s called Threads.  

Jul 6, 2023

From A Food Network TV Show To A McCormick Seasoning — Inside The Empire Tabitha Brown's Built Thanks To One Viral Video

Building a business empire off of just being yourself is a major flex. And Tabitha Brown is making it look easy, honey . Last year, when AfroTech spoke exclusively with the entrepreneur and vegan food influencer, she shared that her agent told her not to record anything for social media in order to be taken seriously in Hollywood. Thankfully, Brown made her own choice to follow the digital route. For those who may believe that her stardom started on TikTok, it actually started from her Faceboo k reaction video to Whole Foods’ TTLA sandwich. The video garnered a million views in a week on the social media giant and even led to her becoming the market’s plant-based ambassador. Ever since recording the viral sensation in her car, Brown has gone on to organically dominate across all social media platforms including her nearly five million followers on TikTok. Her likeness as the “world’s favorite mom” has transformed into a rapidly growing list of ventures that AfroTech continues to...

Aug 10, 2022

Facebook's New Music Licensing Feature Equips Creators With A 20 Percent Revenue Share

Facebook has officially changed the game for musicians. The leading social media network has announced its first-of-its-kind music licensing feature, which allows creatives to cash in when their music is used across the platform. According to a blog post, the Music Revenue Sharing feature will equip eligible creators with a 20 percent revenue share when their licensed music is used across videos that meet the criteria on the application. While the Meta company has not yet clarified the amount that the company will receive from the licensed catalogs, they did reveal that the “expansive licensed catalog” is filled with music from various artists. This function is currently available within the U.S. market, thanks to a program developed by Meta called Rights Manager. This video, audio, and image-matching software is designed to help creators maintain their rights , while also helping them to manage their content at scale. Furthermore, the feature was created with the help of the...

Jul 26, 2022

Facebook Sees Uptick In Diversity With An Increase In Remote Work Options

Diversity, equity, and inclusion (DEI) strategies are all the rave right now for the private sector and nonprofit organizations. And while everyone is seemingly treating DEI as the proverbial popular kid in school, many strategies that have been implemented are working to create more just and equitable cultures. Although there is evidence of intentional work being done to increase diversity at companies, the ever-evolving nature of the job market has created certain norms, pushing diversity to the forefront. For the folks at Facebook, implementing remote work increased their diversity metrics. According to The Washington Post, since Facebook implemented a more liberal remote policy, the company saw noticeable increases in employee representation. Between 2021 and 2022, the tech company grew among Black, Hispanic, Asian, and multiracial employees. Its number of white employees decreased by 1.5 percent. The increase in minority employment also applied to its leadership group. A...

Jul 20, 2022

This Is Not A Drill: Instagram Users Lose It As Instagram Filters Seem To Be Down

If you thought something was wrong with your Instagram profile, specifically its filters — it might not be just you. For users attempting to use filters on the social media platform, they’ve been met with an “unable to use effect” message that has sent folks into a frenzy. According to a report from HITC and various users, the error is stopping people from using various effects on their stories , and in true digital age fashion, folks have resorted to another social network to express themselves. Why would they take our instagram filters? That’s childish. Lol — KYLESISTER (@AriTheDon) May 26, 2022 Is anybody else instagram filters not working? — Ni🥂🖤 (@luxurylifewitni) May 25, 2022 Soooooo who else Instagram filters not workin? It’s saying it’s unable to allow this effect on your device or sum ?😭 #instagramdown #instagram — barbietingz ♡︎. (@Ifthesh96828720) May 26, 2022 Instagram better be putting back them filters 😒 — DB! (@thatgirlDB) May 26, 2022

May 26, 2022

Black to Reality: How Black Creators at Meta Are Shaping the Metaverse

Rooted in the audacity of hope, dreams and big ideas are often the catalysts to action and solutions. Some of the world’s most-noted movers and shakers have created platforms, programs and companies that all started as a dream. Meta began as an idea to see communities globally connect in one place. And now the metaverse is a virtual space where people can gather in real time no matter their location. Beyond the external-facing platforms, Meta has an internal company culture that supports innovative ideas, thought-provoking solutions and the drive to turn dreams into reality. Recently, AfroTech had the opportunity to learn how Brandon C. Dudley and Jahmeilah Roberson, two Meta employees on the virtual reality teams, are working to build a diverse and inclusive metaverse through the power of augmented and virtual reality.   Creativity Is at the Core As a Product Manager, Brandon Dudley had a personalized entry into tech because of his hometown roots in Detroit. Beginning his career...

Apr 12, 2022

Trick Daddy Debuts Cooking Series Featuring CeeLo Green, Rick Ross, And More

Trick Daddy has something cooking! The Miami, FL rapper has launched a new series titled “B!tch, I Got My Pots,” Global Grind reports. The weekly cooking show launched its pilot on Feb. 12, 2022, and has since featured notable guests such as American singer CeeLo Green, former NFL wide receiver Brandon Tyrone Marshall, rapper Kent Jones, Rick Ross, and more. View this post on Instagram A post shared by Trick Daddy Dollars (@trickdaddydollars) Not only does the Facebook Live show give insight into Trick Daddy’s southern culinary journey but it also touches on topics including music, entertainment, pop culture, and more. In an intimate conversation between Trick Daddy and Marshall, he was reminded of his long-lasting impact on street rap in the south. “When I think about Trick Daddy, I think about Jay-Z, I think about Tupac, I think about Biggie, what you did for the south, and also what you did for the culture,” Marshall said.

Mar 30, 2022

As Its Rivals Integrate TikTok-Like Short Form Video Features, TikTok Ups Max Video Length To 10 Minutes

TikTok continues to take it up a notch! The social media giant allowed users to capture 60-second video clips as of July 2021. Now, in 2022, it has announced users can expect to capture videos totaling 10 minutes, Variety reports. On average, TikTok users reportedly spend 52 minutes per day on the application, and 90 percent of TikTokers return to the application daily. Arguably one of the most addictive applications, the new feature will add to its list of reasons to keep users reeled in for more. “We’re always thinking about new ways to bring value to our community and enrich the TikTok experience,” a TikTok rep said in a statement, according to Variety. “Last year, we introduced longer videos, giving our community more time to create and be entertained on TikTok. Today, we’re excited to start rolling out the ability to upload videos that are up to 10 minutes, which we hope would unleash even more creative possibilities for our creators around the world.”

Mar 1, 2022

Social Media Users Took A Loss Of $770M In 2021 — Here's How

Let this be a lesson to beware of those Internet scams! According to Complex, social media scammers managed to rake in $770 million due to fraudulent behavior across the Internet in 2021. However, the amount only accounts for 25 percent of fraud that was actually reported last year.

Feb 2, 2022

Pharrell Williams Calls Out Corporations For Not Investing In 'Inclusive Businesses'

Pharrell Williams wants to see more wins for Black-owned businesses. Pharrell Williams presented the keynote speech at the Urban League of Hampton Roads’ (ULHR) annual Martin Luther King, Jr. awards program on Monday (Jan. 17). Here, Williams issued a call-to-action for businesses to pledge a higher commitment to Black entrepreneurs while also noting many businesses have already started their efforts. “There’s much more work to be done to achieve anything that resembles equality, business — thank God businesses are finally catching on,” Pharrell Williams said. “Corporations know that inclusive businesses are good businesses, right? Collectively big businesses are pouring billions of dollars into programs directed toward people of color — not all businesses, but the smart ones, the ones that will be here in 50 years.” Pharrell Williams goes on to highlight a few small wins that have arisen for the Black community in recent years. Historically Black Colleges & Universities are...

Jan 18, 2022

Meta's Facebook Platform To Offer Creators Up To $50K Every Time They Use Its Clubhouse-Like Feature

Facebook is willing to go to great lengths to cancel out the competition! As previously reported by AfroTech, the social media company is now operating under the name Meta, and has announced that it will pay artists and creators as much as $50,000 each time they use its new Clubhouse-like feature, Insider reports. Per two people “with direct knowledge of the outreach,” production companies that are working with Facebook have offered musicians and social media influencers close to tens of thousands of dollars in Facebook Live Audio Room deals. Creators are required to host four to six sessions for at least 30 minutes in duration for the Facebook offering of $10,000 and $50,000 per live session. Courtesy of Facebook This isn’t Facebook’s first rodeo at attempting to lure in creators through programs that are similar to rival social media platforms. Currently, for the month of November, Instagram is offering creators a maximum bonus of $35,000 if their Reels are able to reach 58...

Nov 22, 2021

Meta Taps Grammy-Winning Artist Ciara To Amplify Small Black-Owned Businesses

According to a report , Black business ownership rates declined by about 40 percent between February and April 2020, which was the sharpest decline of any racial group. In response, Meta — formerly Facebook — has big plans this holiday season that involve amplifying small Black-owned businesses. To kick it off, during the inaugural Forbes Next 1000 Summit, the company announced a partnership with Grammy award-winning artist Ciara, as they plan “to redistribute the energy of the biggest physical retail day” to spotlight Black-owned businesses impacted by COVID-19. “In the US, Black-owned businesses have been among the hardest hit by the pandemic, and this holiday season will be ‘make or break’ for many,” said Chief Operating Officer Sheryl Sandberg. “One way we can all make a difference is through conscious shopping, which is why I’m thrilled to partner with Ciara to support #BuyBlack and do what we can to help Black-owned small businesses.” Under the partnership, starting Nov. 22,...

Nov 12, 2021

Meta's Aaron Russell Thinks Subsea Cables Are The Answer To Africa's Internet Access Issues

Meta’s (formerly Facebook) Head of Network Investments Emerging Markets Aaron Russell has worked for the tech giant for nearly seven years. In his current role, he manages and helps develop strategic partnerships to address and create solutions for the connectivity barriers in Sub-Saharan Africa. Russell is on a mission to better connect the world to faster and reliable internet. “Connecting the world is really one of the fundamental challenges of our generation. And that’s an idea that we really embrace,” Aaron Russell told AfroTech. “We work with partners to develop innovative technologies around the world that help some of the biggest connectivity challenges and solving them, and together we’re bringing more people online to a faster internet.” Russell and Meta think Internet connectivity issues can be solved by tapping into subsea cables. But what are those? Subsea cables are fiber optic cables that are laid in the ocean and connect two or more landing points. Ships drop these...

Nov 3, 2021