Tag: Mark Zuckerberg

International Technology

Facebook Parent Meta Platforms Inc. Is Cutting Jobs For These Reasons

HT News

Meta Platforms Inc. follows Twitter in job cuts. The Facebook parent company initiated work on widespread job cuts on Wednesday. According to insiders, Mark Zuckerberg took the drastic step after disappointing earnings and a sharp drop in revenue.

HIGHLIGHTS

• Meta job announces job cuts for the first time after its inception in 2004
• About 10% of Meta employees are expected to be affected by the job cuts
• Mark Zuckerberg had already updated his team about the job cuts in September

What Are The Reasons Given For Job Cuts By Meta Platforms Inc.?

When Mark Zuckerberg warned employees in late September about his intentions to slash expenses by restructuring teams, the company was already reeling struggling to improve its revenue from digital advertising. The fear of economic recession also forced Mark Zuckerberg to take this drastic step. Insiders also say that Zuckerberg needs more funding for his speculative virtual-reality push called the Metaverse.

How Did The Job Cut Start In Meta Platforms Inc.?

Job Cut Start In Meta Platforms Inc.

The Menlo Park, California-based company implemented a hiring freeze saying that the CEO Mark Zuckerberg wants a smaller team in 2023. On Tuesday, Zuckerberg told the executives to prepare for job cuts. The Wall Street Journal reported Mark Zuckerberg said that he was accountable for the company’s missteps during the executive call.

What Did Mark Zuckerberg Say To Executives?

He said that the company basically grew quickly every year for the first 18 years, and then more recently their revenue had been flat to slightly down for the first time. So they had to adjust. Meta Platforms Inc. owns Instagram and Whatsapp as well and employs more than 87,000 people as of September.

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News & Politics

Know Why Sheryl Sandberg Left Facebook In A Hurry

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Sheryl Sandberg will leave Facebook after 14-day tenure but she will remain a board member of the company. Sandberg joined Facebook in 2008 when it was just a startup and she played a formative role in the development of Facebook as a multi-billion dollar company. She’s leaving the company when it is facing an uncertain future and fierce competition.

HIGHLIGHTS

• Sheryl Sandberg leaving Facebook after 14 years of service
• She drew fire over probing the billionaire investor, George Soros
• Mark Zuckerberg said Sandberg was there for many of the important moments in his life
• The next COO of Facebook would be different from the status Sandberg held

Who Is Sheryl Sandberg?

Sheryl Sandberg

A Harvard-educated, 52-year-old Sheryl Sandberg was the second most powerful executive on Facebook. She joined the company when it was just four years old and Zuckerberg acknowledged her help in running a company when he was just 23 and barely knew anything about running a firm.

Sandberg became a household name after writing the book “Lean In: Women, Work, and the Will to Lead.” Published in 2013, the book encouraged women to “lean in” to their careers to overcome workforce obstacles.

In 2015, Sandberg was saddened due to the sudden demise of her husband, US tech executive David Goldberg, at an upscale resort in Mexico. But she managed to bring her life back to normal by engaging with marketing executive Tom Bernthal two years ago.

Why Is Sandberg Leaving Facebook?

Sandberg Leaving Facebook

Sandberg was long seen as the “adult’ at the youthfully managed firm and Facebook was increasingly seen as a place for older people. Also, she was in a center of … Read the rest

News & Politics Technology

Will Mark Zuckerberg Follow Jeff Bezos? Know What Experts Have To Say

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With Jeff Bezos stepping down as CEO of Amazon, Mark Zuckerberg becomes the last man standing, who founded Facebook and still owns the business empire. And experts link Jeff Bezos’ resignation to other high-profile resignations of Silicone Valley.

Jeff Bezos’ journey till resignation

What started as an online bookstore turned into the world’s largest marketplace for third party sellers. Jeff Bezos, the proud founder and owner of the tech giant Amazon, shot off his resignation to make way for others. He also owns The Washington Post. He has been at the helm of affairs for 27 years and he knows that his capable team will manage the job with perfection for another decade.

Mark-Zuckerberg-Follow-Jeff-Bezos

Other high-profile resignations of Silicone Valley

Bill Gates stepped down as Microsoft CEO in 2000 and further reduced his day-to-day role in the company eight years later.

Tim Cook took over the reins of Apple in 2011 after its founder Steve Jobs passed away.

Google founders Larry Page and Sergey Brin resigned from CEO and President of Alphabet in 2019 and appointed Sundar Pichai as the company CEO.

Would Mark Zuckerberg resign from Facebook?

Experts have different opinion about Zuckerberg’s future but they are certain at one thing that is his Facebook under the siege and until he brings his company out of the troubled waters, he won’t think of resigning from the top post. But the all eyes are now on Mark Zuckerberg as he is the only man left in Silicone Valley who still owns a company.

Source:- https://bit.ly/36G3Mbb

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International News & Politics

Mark Zuckerberg Questioned Twitter’s Reasoning Over Trump’s Posts

HT News

Twitter has started warning President Trump for inaccurate and inflammatory tweets by fact-checking his posts but Facebook has yet to take a decision in this regard. Also, Facebook CEO Mark Zuckerberg has explained why he took Trump’s inflammatory posts so passively.

Threat from the US President

Donald Trump threatened the Minneapolis protestors with military action and this incident snowballed in Twitter adding warning to Trump’s tweet.

• Minneapolis citizens were protesting the killing of 46-year old George Floyd when Trump took to social media to show his displeasure against the protests. He made series of posts on Twitter, Facebook and Instagram. He said that the talked to Governor Tim Walz and told the governor that the military was with the governor. And that the military could take over the situation and shoot the looters.

• Twitter replied to the post saying that the post was glorifying violence. But it allowed the social media users to view the message from President Trump.

• Mark Zuckerberg who owns Facebook and Instagram took no action but he explained his silence. He said he was personally against such posts but as a leader of a media house, it was his duty to allow freedom of expression to everyone.

• While he made it clear that Facebook didn’t allow content that incites violence but Trump’s message was more like a warning from the National Guard. And he thought that people need to know whether government was planning to use force.

• In Mark Zuckerberg’s opinion, Twitter’s reasoning was muddle because it took instant action in inflammatory messages without considering the news value of the content.

Source: https://bit.ly/2ZT3Otw

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Technology

Vehement Critic Of AI Elon Musk Hires AI

HT News

Tesla CEO Elon Musk has been a vehement critic of Artificial Intelligence (AI) but he is now using AI technology. The technology works like his subordinate and reports directly to him.

Elon Musk using AI

A strong critic of AI, Elon Musk often criticized Facebook CEO Mark Zuckerberg and former Alibaba Chairman Jack Ma over the role of AI. But he has finally decided to use AI. He is using AI in his startup Neuralinkthat is creating a brain-machine interface.

Musk tagged the popular host of AI podcast on YouTube Lex Fridman while tweeting about his obsession with AI. He tweeted that he was using AI to solve self-driving. But for him, AI could only do benign tasks and he critically evaluates those tasks.

Tesla using AI

Artificial Intelligence is used for vision and planning to achieve a general solution to full self-driving. Tesla is developing silicon chips that it could use to power its full self-driving software from ground. It is taking every aspect of design of the chips to get expected results. The company is applying cutting-edge research to solve issues from perception to control.

Tesla is also working on core algorithms that help in driving. It creates a high-fidelity representation of the world and planning trajectories in that space. Elon Musk said that AI would still be left behind even in its benign stage. He made this opinion while making a presentation about brain-machine interface technology of Neuralink.

Source: https://bit.ly/31tXpUq

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