FACEBOOK PROFITS TOP $10B AS ITS CEO EXALTS THE ‘METAVERSE'
Techlife News|Techlife News #509
Concerns about a revenue growth slowdown pushed Facebook’s shares lower in afterhours trading Wednesday, not long after the company reported that its second-quarter profits doubled thanks to a massive increase in advertising revenue.
But CEO Mark Zuckerberg set his sights far beyond the second half of 2021, exalting what he sees as the next phase of how people experience the internet. What the rest of the world might know as augmented and virtual reality with a dash of science fiction, Zuckerberg and others are calling “the metaverse,” a futuristic and somewhat vague notion that encompasses AR, VR and new, yet-to-be-imagined ways of connecting to one another via technology.

Zuckerberg expects the metaverse to be the next big thing after the mobile internet, although he’s had a spotty track record when it comes to predicting major trends of the near future. At Facebook’s f8 conference four years ago, for instance, Zuckerberg predicted a future where you will sit in your bedroom wearing a headset and take a virtual vacation with faraway friends and family, or use your smartphone’s camera to virtually spruce up your dinky apartment.

So far, this has not materialized. Then there’s Libra — now known as Diem — a cryptocurrency project Facebook launched in 2019 amid great fanfare. At the time, Facebook envisioned Libra as an emerging global digital currency; its ambitions have since been scaled back considerably amid regulatory and commercial backlash.

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IRELAND INVESTIGATES TIKTOK OVER CHILD, CHINA DATA CONCERNS

TikTok is facing two EU data privacy investigations, one into its handling of children’s personal data and another over its data transfers to China.

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TESLA BUILDS 1ST STORE ON TRIBAL LAND, DODGES STATE CAR LAWS

Carmaker Tesla has opened a store and repair shop on Native American land for the first time, marking a new approach to its years-long fight to sell cars directly to consumers and cut car dealerships out of the process.

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NUCLEAR SUBMARINE DEAL WILL RESHAPE INDO-PACIFIC RELATIONS

The U.S., Britain and Australia have announced they’re forming a new security alliance that will help equip Australia with nuclear-powered submarines. The alliance will see a reshaping of relations in the Indo-Pacific region and beyond. Here’s what it might mean for various players:

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INTERNET FUNDING RULE COULD FAVOR RURAL AREAS OVER CITIES

Cities and urban counties across the U.S. are raising concerns that a recent rule from President Joe Biden’s administration could preclude them from tapping into $350 billion of coronavirus relief aid to expand high-speed internet connections.

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EPIC GAMES APPEALS RULING IN LAWSUIT ALLEGING APPLE MONOPOLY

Epic Games filed notice that is appealing a federal judge’s decision in a lawsuit alleging that Apple has been running an illegal monopoly that stifles competition.

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COURT REJECTS LAWSUIT AGAINST NSA ON “STATE SECRETS” GROUNDS

A divided federal appeals court has upheld the dismissal of an ACLU lawsuit challenging a portion of the National Security Agency’s warrantless surveillance of Americans’ international email and phone communications.

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BLOWERS, MOWERS AND MORE: AMERICAN YARDS QUIETLY GO ELECTRIC

For Jared Anderman, of Croton-on-Hudson, New York, switching from gasoline-powered tools to electric ones for lawn care was a no-brainer.

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AMERICANS HAVE LITTLE TRUST IN ONLINE SECURITY

Most Americans don’t believe their personal information is secure online and aren’t satisfied with the federal government’s efforts to protect it, according to a poll.

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3 FORMER US OFFICIALS CHARGED IN UAE HACKING SCHEME

Three former U.S. intelligence and military officials have admitted providing sophisticated computer hacking technology to the United Arab Emirates and agreed to pay nearly $1.7 million to resolve criminal charges in an agreement that the Justice Department described as the first of its kind.

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DoorDash, Grubhub, Uber Eats Sue NYC Over Pandemic Fee Caps

Three of the nation’s largest food delivery companies are suing New York City over a limit on fees it put in place during the pandemic to protect restaurants devastated by the forced closure of their dining rooms.

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September 18, 2021
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