How Facebook Reacted At Its Annual Conference To The Facebook Live Murder

April 20, 2017

San Jose, Calif, Apr 20: Three days after a man broadcast himself committing murder on Facebook, the social platform was all about playfulness again.

fbAt the company's annual developer's conference, held in nondescript conference center in downtown San Jose this week, Facebook launched a slew of products and features that encouraged people to use its service to snap images and video of themselves goofing off.

"Photos and videos are becoming more central to how we share than text," Zuckerberg said in his keynote. "So the camera needs to be more central than the text box in all of our apps."

Aside from a single comment by chief executive Mark Zuckerberg in his keynote address Tuesday morning, in which he expressed condolences to the family of the victim and vowed to "do all we can to prevent tragedies," there was almost no mention of the murder, which was posted on Facebook on Easter Sunday. The killer later used Facebook Live to boast about the shooting.

Critics have said that because Facebook has not established a rigorous system of vetting videos and live-streams, the company is creating an environment in which its policies prohibiting the display of graphic content will inevitably be broken and more murders and violent acts will be broadcast. (The company says it is working to improve its procedures after acknowledging it only received reports on the murder video an hour and a half after it was posted).

In the past, Zuckerberg has said that he wants live video to support all the "raw and visceral" ways people communicate. But at this year's F8 developers conference, he made clear his desire to reclaim Facebook as a place where people have fun - and get sucked in.

Much of the conference, which is attended by thousands of engineers, hundreds of journalists, and Facebook clients, reflected the company's eagerness to once again become a site where people express themselves habitually and light-heartedly throughout the day - and to do so through photos and live video.

This is territory that Facebook has lost to more visually oriented social networks such as Snapchat and even the Facebook-owned photo-sharing service Instagram. Indeed, many of the camera features Facebook announced here have already been popularized by Snapchat.

Some of those new products include: An augmented reality camera lets users snap selfies and adorn themselves with giant red tongue or cartoon devil ears in the image. They can send selfies to friends with cartoon rainbows floating above their head, Olympic gold medals on their chest, or cover their faces with a variety of colorful masks.

The company went further than its rivals by opening up its systems so that developers could build on them. Facebook released tools that allow any developer to create such features on a camera app, in live video, and in virtual reality. As an example, Facebook executives showed how developers in different countries and cities could designed custom backdrops for their images, or draw specialized messages on them.

Facebook said it hopes that creating such a hub for developers and designers will accelerate innovation and attract more users to its network.

The social network has reportedly faced double-digit declines in original posts, as younger users in the United States have migrated to Snapchat and Instagram. The company's growth is largely outside driven by people outside the United States. For many, the days when it felt natural to log onto Facebook to express something random or informal - vent about your latest frustration at work, say, or share a silly memory - are long over. Many people use Facebook to post news about major life events like an engagement or a death, but prefer other networks for more casual communications.

Facebook sees visual communication as the way to reverse those declines. The company is making video posts bigger in its scrolling news feed, and adding ways for Android users to continue to view thumbnail-size Facebook videos even while are using others apps. Users can now stream Facebook videos directly to their televisions, a new feature that hints at the company's ambitions in live TV. The company also introduced group video hangouts, and showcased examples of ways people can make video watching more social and interactive. For example, a theater group in Latin America recently streamed a live soap opera, or telenovela, in which the audience was able to change the plot in real-time by voting.

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Agencies
July 9,2020

Twitter has hinted that it is planning a paid subscription platform that can be reused by other teams in the future.

The news that the micro-blogging platform is building a subscription platform with a team codenamed "Gryphon" resulted in Twitter stock rising over 8% on Wednesday.

Twitter revealed its plan via a job listing that seeks a full-stack senior software engineer in New York to join "Gryphon".

Interestingly, Twitter "edited" the job listing once the news broke, removing the part about "Gryphon" and any mention of their internal team or their subscription feature. The listing said the company is looking for an Android engineer to "work on a bevy of backend engineering teams to build components that allow for experimentation to deliver the best experience possible to all of our users".

Later, Twitter users noticed that the company restored the earlier job listing that mentioned the upcoming subscription platform and "Gryphon".

A spokesperson for Twitter told CNN on Wednesday that it's only a job posting, not a product announcement.

This is not the first time Twitter has thought of a paid product. 

In 2017, it sent out a survey to users and a preview of what a premium offering of its TweetDeck app might look like, including breaking news alerts and more analytics, according to The Verge.

"We're conducting this survey to assess the interest in a new, more enhanced version of Tweetdeck. We regularly conduct user research to gather feedback about people's Twitter experience and to better inform our product investment decisions, and we're exploring several ways to make TweetDeck even more valuable for professionals," a Twitter spokesperson had said at that time.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
March 7,2020

New Delhi, Mar 7: The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday.

The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4.

Another condition pertains to a maximum of four members are permitted in a consortium, and the lead member must hold 40 per cent in proportion. Other members of the consortium must have a minimum $1 billion net worth.

The EOI allows changes in the consortium within 45 days, though the lead member cannot be changed.

The GoI proposes to disinvest its entire shareholding in BPCL comprising 1,14,91,83,592 equity shares held through the Ministry of Petroleum and Natural Gas, which constitutes 52.98 per cent of BPCL's equity share capital, along with the transfer of management control to the strategic buyer (except BPCL's equity shareholding of 61.65 per cent in Numaligarh Refinery Limited (NRL) and management control thereon).

The shareholding of BPCL in NRL will be transferred to a Central Public Sector Enterprise operating in the oil and gas sector under the Ministry and accordingly is not a part of the proposed transaction.

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