Facebook departure is a wake-up call for investors 15 Mar 2019 Top product boss Chris Cox is leaving after Mark Zuckerberg outlined a new direction. It’s hard to overstate how instrumental Cox has been in the development of the $470 bln Facebook. It's one more sign the business could change dramatically - with consequences for valuation.
Facebook’s presidential foes are also customers 14 Mar 2019 Silicon Valley has become a political punching bag for Elizabeth Warren and other 2020 contenders. But their campaigns are big users of Facebook and other online platforms. It reflects the power of tech giants, and suggests that bashing them may not persuade voters.
Big Tech’s best bet is to friend U.S. regulation 11 Mar 2019 The push to rein in Silicon Valley giants is intensifying. Elizabeth Warren, a White House contender, wants to break up Amazon and others. Tougher rules protecting users and privacy could stave that off. Those fighting constraints rather than trying to shape them may regret it.
Facebook’s new privacy plan: Stitch wings on a pig 6 Mar 2019 Boss Mark Zuckerberg is extolling the virtues of small, closed networks, the antithesis of the behemoth he created. His manifesto borrows from Snap, WeChat and Apple, creating service-like revenue but jeopardizing advertising. It raises the question of whether he’s serious.
Tech giants get glimpse of watchdog’s M&A bazooka 27 Feb 2019 The U.S. FTC is creating a body to police anticompetitive behavior in Silicon Valley, and isn’t ruling out the possibility of breakups. While unwinding mergers would be extraordinary, the mere threat would be a useful weapon as the agency investigates Facebook’s privacy breaches.
Review: Old news guard beats back the grim reaper 22 Feb 2019 Google and Facebook have nearly destroyed the media business – venerable institutions and digital upstarts alike. In “Merchants of Truth,” Jill Abramson effectively draws upon BuzzFeed, Vice, the Washington Post and the New York Times to show that subscribers are key to survival.
Three digital ad giants are no better than two 20 Feb 2019 Google and Facebook’s combined share of U.S. online advertising is poised to fall for the first time this year. The reason: Amazon is taking a bite out of their slice. Even a muscular challenger does little to reduce the case for tighter regulation.
The Exchange: How Facebook takes away our humanity 5 Feb 2019 That’s the way early investor Roger McNamee describes what the social network – and Google – is doing without proper oversight. In discussing his book, “Zucked,” he explains why just changing Facebook management won’t solve its problems and why he remains hopeful of a solution.
Review: The case for regulating Facebook 1 Feb 2019 Mark Zuckerberg’s social-media outfit has been caught pushing the data-privacy envelope again – by Apple. In his new book, “Zucked: Waking Up to the Facebook Catastrophe,” early adviser Roger McNamee lays out what went wrong – and how to tackle the dangers such companies present.
Mark Zuckerberg still doesn’t get the message 28 Jan 2019 The Facebook founder may knit together the technology behind communication tools including WhatsApp and Instagram. That could help bolster user numbers but would risk aggravating privacy concerns. Moves to strengthen the company’s dominance are unlikely to regain people’s trust.
Big Tech may face another front in D.C. battle 16 Jan 2019 William Barr, set to become U.S. attorney general, wonders how Silicon Valley “behemoths” like Amazon got so big. That hasn’t been a DOJ focus. Facebook’s clout was one reason for AT&T’s purchase of Time Warner, on whose board Barr sat. It could make him a new antitrust threat.
Gannett’s dilemma is picking lesser of two evils 14 Jan 2019 A rival publisher wants to buy the USA Today owner for $1.6 bln. Gannett has repeatedly sliced costs and staff, to the detriment of news. MNG’s script is more of the same – and cuts are likely to be deep to justify a 23 pct premium. The public interest probably loses either way.
Trump’s crisis powers are a Pandora’s box 9 Jan 2019 The U.S. president may yet try to bypass Congress to build a border wall by declaring a national emergency. In theory, similar authority could enable him to close CNN or block Facebook. Such scenarios would be tested in court. But there’s leeway, and only lawmakers can reduce it.
A graying Facebook will require a different leader 4 Jan 2019 Mark Zuckerberg’s social network is losing the trust of users and regulators because of fake news and privacy worries just as its valuation looks over the hill. Surmounting the crisis will involve a new model. The founder’s priority is finding someone up to the task.
Superapps will starve the rest in Southeast Asia 2 Jan 2019 Cash is being lavished on giants, Grab and Go-Jek, which dabble in everything from ride-hailing to groceries. It’s a Chinese approach to snaring online consumers. As investors follow SoftBank and Tencent’s seal, the gap will widen between these “do it all” outfits and the rest.
Crypto could bring Facebook some stability 21 Dec 2018 The social network may issue a dollar-pegged digital currency to let its 1.5 bln WhatsApp users transfer money. So-called stablecoins embody much of bitcoin’s original promise and have grown popular as other crypto assets tanked. Beleaguered Facebook would welcome a similar effect.
Facebook headed for Big Tobacco-style backlash 20 Dec 2018 A number of U.S. states may follow the District of Columbia in suing the $380 bln social network for misusing customer data. It’d be reminiscent of the 1990s fight against cigarette makers. A similar outcome would leave Facebook paying huge fines and bound by tighter rules.
Facebook might be the JPMorgan of the tech world 17 Dec 2018 Mark Zuckerberg’s social network faces more Washington pain in 2019. But tougher internet regulation could increase the burden on rivals, as Dodd-Frank financial rules did to small lenders. Facebook may emerge stronger, like Jamie Dimon’s bank after its time in the hot seat.
Silicon Valley mud fight leaves all splattered 4 Dec 2018 Apple boss Tim Cook is taking aim at social networks' privacy issues. Meanwhile Facebook CEO Mark Zuckerberg has been keen to point out the iPhone’s dominance. Where other industries stick together in the face of regulatory challenges, tech is making politicians' work easier.
Holding: Big tech cruising for antitrust bruising 26 Nov 2018 Facebook’s Russian-meddling fumbles and Amazon’s second-headquarters hubris are Exhibits A and B for legal reform. Derided as “hipster antitrust,” the idea that bigness alone can breed evil is true to competition law’s original aim. It’s time trustbusters became disruptors, too.