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Multiverse virtual worlds will be healthier for society than our current social networks

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multiverse virtual worlds will be healthier for society than our current social networks

In part 5 of our virtual worlds series: why this new future will heal fractures caused by today’s social media

05 metaverse part 5

The basis of the classic James Bond film “Tomorrow Never Dies” is an evil media mogul who instigates war between the U.K. and China because it will be great for TV ratings. There’s been a wake-up call recently that our most popular social networks have been indirectly designed to divide populations into enemy camps and reward sensational content, but without the personal responsibility of Bond’s nemesis because they’re algorithmically driven.

(This is part five of a seven-part series about virtual worlds.)

The rise of “multiverse” virtual words as the next social frontier offers hope to one of the biggest crises facing democratic societies right now. Because the dominant social media platforms (in Western countries at least) monetize through advertising, these platforms reward sensational content that results in the most clicks and shares. Oversimplified, exaggerated claims intended to shock users scrolling past are best practices for individuals, media brands and marketing departments alike, and social platforms intentionally steer users toward more extreme content in order to captivate them for longer.

Our impending cultural shift to socializing equally as often through virtual worlds could help rescue us from this constant conflict of interest between what we recognize as healthy interactions with others and how these social apps incentivize us to behave.

Virtual worlds can have advertisements within them, but the dominant monetization strategies in MMOs are upfront purchase of games and in-game transactions. Any virtual world that gains enough adoption to compete as a social hub for mainstream society will need to be free-to-play and will earn more money through in-world transactions than from ads.

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TikTok hearing obscures wider issue of Americans’ online privacy

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TikTok hearing obscures wider issue of Americans' online privacy

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For a brief moment in a five-hour House hearing on Thursday, TikTok’s CEO Shou Zi Chew let his frustration show. Asked if TikTok was prepared to split off from its Chinese parent company if ordered to do so by the U.S. government, to safeguard Americans’ online data, Chew went on offense.

“I don’t think ownership is the issue here. With a lot of respect: American social companies don’t have a great record with privacy and data security. I mean, look at Facebook and Cambridge Analytica,” Chew said, referring to the 2018 scandal in which Facebook users’ data was found to have been secretly harvested years earlier by a British political consulting firm.

He’s not wrong. At a hearing in which TikTok was often portrayed as a singular, untenable threat to Americans’ online privacy, it would have been easy to forget that the country’s online privacy problems run far deeper than any single app. And the people most responsible for failing to safeguard Americans’ data, arguably, are American lawmakers.

U.S. government issues historic $5 billion fine against Facebook for repeated privacy violations

The bipartisan uproar over TikTok’s Chinese ownership stems from the concern that China’s laws could allow its authoritarian government to demand or clandestinely gain access to sensitive user data, or tweak its algorithms to distort the information its young users see. The concerns are genuine. And yet the United States has failed to bequeath Americans most of the rights it now accuses TikTok of threatening.

While the European Union has far-reaching privacy laws, Congress has not agreed on national privacy legislation, leaving Americans’ online data rights up to a patchwork of state and federal laws. In the meantime, reams of data on Americans’ shopping habits, browsing history and real-time location, collected by websites and mobile apps, is bought and sold on the open market in a multi-hundred-billion-dollar industry. If the Chinese Communist Party wanted that data, it could get huge volumes of it without ever tapping TikTok. (In fact, TikTok says it has stopped tracking U.S. users’ precise location, putting it ahead of many American apps on at least one important privacy front.)

That point was not entirely lost on the members of the House Energy and Commerce Committee, which convened Thursday’s hearing. Last year, their committee became the first to advance a comprehensive data privacy bill, hashing out a hard-won compromise. But it stalled amid qualms from House and Senate leaders.

Likewise, worries about TikTok’s addictive algorithms, its effects on teens’ mental health, and its hosting of propaganda and extreme content are common to its American rivals, including Google’s YouTube and Meta’s Instagram. Congress has not meaningfully addressed those, either.

And if Chinese ownership is the issue, TikTok has plenty of company there, as well: A glance at Apple’s iOS App Store rankings earlier this week showed that four of the top five apps were Chinese-owned: TikTok, its ByteDance sibling CapCut, and the online shopping apps Shein and Temu.

The enthusiasm for cracking down on TikTok in particular is understandable. It’s huge, it’s fast-growing, and railing against it allows lawmakers to position themselves simultaneously as champions of American children and tough on China. Banning it would seem to offer a quick fix to the problems lawmakers spent five hours on Thursday lamenting.

And yet, without an overhaul of online privacy laws, it ignores that those problems exist on all the other apps that haven’t been banned.

“In most ways, they’re like most of the Big Tech companies,” Rep. Jan Schakowsky (D-Ill.) said of TikTok after the hearing. “They can use Americans’ data any way they want.” She and several other committee members said they’d prefer to address TikTok as part a broader privacy bill, rather than a one-off ban.

But the compromises required to pass big legislation can be politically costly, while railing against TikTok costs nothing. If Chew can take any consolation from Thursday’s hearing, it’s that congressional browbeating of tech companies are far more common than congressional action against them.

For an example, he has only to look at the one he raised in that moment of frustration: For all the hearings, all the grilling of Mark Zuckerberg over Cambridge Analytica, Russian election interference and more, Facebook is still here — and now Congress has moved on to a new scapegoat.

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Kändisläkaren kopplad till Facebook-våldtäktsmannen Thabo Bester lämnar den hyrda herrgården i Hyde Park

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Kändisläkaren kopplad till Facebook-våldtäktsmannen Thabo Bester lämnar den hyrda herrgården i Hyde Park

Johannesburg – Dr Nandipha Magudumana, the celebrity doctor linked with Facebook rapist Thabo Bester, has allegedly abandoned her rented Hyde Park …

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Watching Meta Over One Year: This Was The Headline On Meta Employees One Year Ago; What Changed? – Meta Platforms (NASDAQ:META)

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Titta på Meta under ett år: Detta var rubriken på Meta-anställda för ett år sedan; Vad förändrades? - Metaplattformar (NASDAQ:META)

Exactly one year ago, on March 21, 2022, this was the headline: ‘Facebook Parent Meta Employees Seek Greener Pastures Post Stock Meltdown.’

Then, reports claimed Meta Platforms, Inc META employees were burdened with underwater stock options and looked to exit following plunging stock prices.

As of March 2022, Meta employees with $100,000 worth of restricted stock units around its September stock peak found them worth ~$57,000.

A series of internal leaks put massive political pressure on the company fueled by the multibillion-dollar sting of privacy changes from Apple Inc AAPL och Alphabet Inc GOOG GOOGL Google.

Opportunists from other companies like Microsoft Corp MSFT, whose price was down 10.3% as of March 2022, could theoretically “buy the dip” by taking a job at a beaten-down company like Meta and getting more stock options at a lower price.

However, by November, things changed, and the falling stock price signaled trouble. Finally, in November 2022, Meta fired 11,000 people, or 13% of its staff, scaled back budgets, and shrunk its real estate footprint in the face of macro uncertainties.

Again on March 14, 2023, Meta disclosed plans to downsize team strength by around 10,000 people and to close about 5,000 additional open roles to make it a better technology company and improve its financial performance amid macro uncertainties.

CEO Mark Zuckerberg mentioned that his restructuring plans focused on flattening its organizational structure, dumping lower-priority projects, and reducing hiring rates.

Meta highlighted investing in building AI tools as ChatGPT adoption gains momentum worldwide. It emphasized how the last downsizing improved efficiency and reduced costs by cutting out duplicative work and helping execute its highest priorities faster.

As of March 2023, Meta reportedly slashed the price of Quest Pro to fend off competition from Apples upcoming MR headset launch. It also remained rattled by the success of ByteDance Ltd TikTok and had forgone projects to win back lost users to the popular Chinese social media platform.

Major tech players saw huge losses in 2022, weighed by higher interest rates, high inflation, and uncertain economic conditions. Meta lost two-thirds of its value. Amazon.Com Inc AMZN also lost half its value.

Interestingly, Meta shares gained over 64% YTD, beating the broader index returns of 14.96%.

Price Action: META shares closed higher by 2.24% at $204.28 on Thursday.

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