Social Media Round Up
October 31, 2019
Boston Innovative Apps
Facebook Staff is Demanding CEO Mark Zuckerberg Control Pervasive Ads
The rise in misinformation in political ads on Facebook has become a serious problem and making things worse is that it has been approved by CEO Mark Zuckerberg. Facebook’s policies allow politicians and their supporters to spread inaccurate claims about their views and their rivals while racking up donations to buy more of these ads.
Zuckerberg recently stated that, “We don’t fact-check political ads. We don’t do this to help politicians, but because we think people should be able to see for themselves what politicians are saying. And if content is newsworthy, we also won’t take it down even if it would otherwise conflict with many of our standards.” It’s going to be an interesting election as social media now plays more of a role than ever before.
Twitter Stock Falls Below $30
Although Twitter has continued to build an amazing user base, they are unable to successfully implement ads into its platform that don’t turn people away. Jim Cramer on CNBC recently stated that he thinks that if the stock continues to fall someone is going to come in and buy the social media company.
Cramer stated that, “The core thesis that Twitter’s turning itself into a more enticing place to spend your screen time remains intact. If anything, it’s gotten better as the user growth numbers are accelerating,” he said. “Management just needs to get the advertising system back on track, which is something they’ve done before.”
Twitter shares closed Tuesday’s session at $29.85, giving it a market value of $23.1 billion.
According to CNBC, “Twitter cited platform bugs and advertising woes for its revenue shortfall, prompting numerous analysts covering the social media company to cut forecasts and some to downgrade the stock. The social site grew its monetizable daily active users by 4% from the prior quarter to 145 million, but the company had trouble in targeting and selling ads.”
Elon Musk Vows 1 Million to Tree Planting Efforts
Elon Musk recently took to Twitter and donated $1 million worth of trees to YouTuber Jimmy “MrBeast” Donaldson, who’s currently campaigning to raise $20 million from fellow YouTube celebrities for a climate change fundraising effort.
Mr Beast is famous on YouTube for philanthropic stunts that largely involve giving away huge sums of money to random people in need and according to this Verge article the trees are being planted, “on every continent except Antarctica; the type of tree depends on where it goes.”
If you want to make a donation yourself here is the the link!