03/08/2022

Meta sues Snap for documents to fight FTC's Facebook antitrust suit - Reuters

Meta Platforms Inc on Wednesday asked a California federal judge to force Snap Inc to turn over internal corporate documents that the Facebook parent company said it needs to defend against U.S. Federal Trade Commission's antitrust claims.

02/08/2022

What 21 Billion Facebook Friendships Say About the Economic Ladder In the US

Meta publicly released information on 21 billion Facebook friendships as part of a research project looking at economic inequality in the United States, the company announced today. Along with new insights into the intersection of money and friendships in America, the partnership between Meta and the researchers gives us another look at who Facebook is willing to share data with -- and why. The Verge reports: The research team wanted to understand why people in some places in the US were more likely to move between economic brackets than in others. Using the information from Meta, along with other data, a research team built a dataset for a pair of studies on economic mobility, published Monday in the journal Nature. One study found that people who grow up in areas where there are more friendships between high- and low-income people are more likely to move out of poverty and up the economic ladder. "Growing up in a community connected across class lines improves kids' outcomes and gives them a better shot at rising out of poverty," Raj Chetty, a Harvard economist and lead researcher on the study, told The New York Times. Many places, though, don't allow for much interaction between high- and low-income people, the second of the two studies found. And even when a neighborhood does allow for that kind of interaction, people are still more likely to befriend people in similar economic brackets. [...] [T]he full dataset, which covers 21 billion Facebook friendships, is available through Facebook's Data for Good program. People can search the public-facing website and see the economic connectedness of various communities, including their own. Researchers can download the data for additional studies. [...] The new studies offer valuable insight into economic mobility in the US, and the data could help researchers understand how people in the US build relationships. Read more of this story at Slashdot.

03/08/2022

Facebook parent Meta is looking to potentially tap the bond market for the first time ever

Facebook's parent company has avoided the bond market. Now, the company is reportedly asking Wall Street firms to explore a bond offering.