Meta is truly a vilanous company.
Just this month, CEO Mark Zuckerberg was writing about all the jobs AI would create
Meanwhile, we learned in a Reuters report today that he was contemplating eliminating 60% of Meta’s workforce this year. In any case, he will need the savings as Meta will pay $16.7 billion to 29 states as part of an agreement today, just before jury selection was set to begin in the trial. The accusation was that the company designed Instagram and Facebook to addict children, misled consumers about their safety, and improperly collected personal data of kids.
What’s bizarre to me is that his will function as a tax on a US company and some states will benefit but Meta did the same thing globally and if any country attemps a digital services tax or regulation, Trump launches a trade war. In any case, this is investinglive, not moralitylive. The shares are up 4.5% pre-market.