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Facebook Is Reportedly Set To Change Its Name In An Effort To Rebrand The Company

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BREAKING: Facebook, Instagram And WhatsApp All Go Down In Major Outage

it’s been an interesting few weeks for social media platform Facebook, as the massively popular company has dealt with a widespread outage that rocked the Internet and introduced a slate of new anti-harassment and bullying policies.

However if new reports prove to be accurate, Facebook is set to undergo a major change that will see the company being called an entirely different name.

@TheVerge exclusively reports, Facebook is planning to permanently change the name of the company as early as next week, according to inside sources with direct knowledge of Facebook practices.

Facebook founder and CEO, Mark Zuckerberg, will reportedly formally discuss the company name change at Facebook’s annual Connect Conference on October 28th—although there is reportedly a strong possibility that the name could be changed before then. The name change is the first step in the company’s efforts to rebrand itself as being known for more than just social media, while highlighting that Facebook owns an enormous part of the social media landscape courtesy of Instagram, WhatsApp and more.

Apparently, Facebook’s new name is such a heavily-guarded secret, that even employees in senior positions at the company are not currently aware of what it will be. Tech experts have speculated that Facebook could potentially change its name to something involving Horizon—which is the name of an unreleased VR version of a Facebook and Roblox mash-up that has been in development for the last few years. ‘Horizon Worlds’ (the name of the VR app) is what insiders believe could be the top name choice.

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Meanwhile, Mark Zuckerberg reportedly wants to usher in Facebook to the new era of the metaverse, which he previously said is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet.” In case you’re unfamiliar, a metaverse is a virtual world people escape to from a dystopian, real world.

Regardless of the timeline, it’s clear that Facebook as we know is definitely about to change.

 

 

 

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Instagram Is Offering Eligible Users Up To $10,000 To Use The Reels Feature

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Instagram Is Offering Eligible Users Up To $10,000 To Use The Reels Feature

 Just as the holiday season is approaching, people are always looking for ways to receive some extra money, and it looks like Instagram may have a solution.

The company is giving users an incentive to receive some extra cash by using their Reels feature. The Reels feature, which was introduced in August 2020, is similar to the popular application TikTok, where users can record and edit 15-second multi-clip videos with audio, effects, and new creative tools.

According to Tech Crunch, Instagram is dishing out bonuses up to $10,000 for creating Reels, a program that started in July. Maddy Corbin, who has 52,000 followers on Instagram, was recently offered up to $1,000 for Reels in a month. However, it doesn’t appear that all content creators are receiving the same payout amount. “I saw some people that had more followers than me, and they could only make $600,” Maddy told TechCrunch. She says that users with fewer followers were offered $800. “I wish I knew more on how that was generated. All I can think of is maybe it’s based off of past reels’ performance,” Maddy stated.

Instagram spoke with TechCrunch about the pricing difference in payouts stating, “We’re continuing to test payments as we roll out to more creators, and expect them to fluctuate while we’re still getting started. We’ve designed bonuses so that we can help as many creators as we can in a way that is achievable and drives meaningful earnings. Our goal is for bonuses to become more personalized over time.”

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Although the program has been around, this month, Instagram kicked the bonus up a notch to keep up with TikTok, as the platform surpassed 1 billion monthly active users. Several competitor platforms like YouTube Shorts and Snapchat Spotlight have also introduced an incentivizing feature for users to post their short-form content on their apps instead of TikTok.

Now that we’ve given you the rundown about Instagram cashin’ folks out, here is how to see if your account qualifies! Users need to be at least 18 years old and meet the platform’s partner monetization policies, which are a bit vague. The policy states you must reside in an Eligible Country, Comply with our Community Guidelines and Content Monetization Policies. To see the complete list, head over to Facebook’s website.

 

 

 

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Tesla’s Stock Reportedly Loses $40 Billion In Market Value After Elon Musk Tweets “No Contract Has Been Signed” With Hertz

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Tesla’s Stock Reportedly Loses $40 Billion In Market Value After Elon Musk Tweets “No Contract Has Been Signed” With Hertz

Elon Musk and his tweets have been in the headlines this week, and it doesn’t appear that will change anytime soon.

Most recently, Tesla’s stock reportedly dropped by 4%, which puts it “on track to lose $42 billion in market value,” according to Forbes.

This occurred after he tweeted about not signing a deal with Hertz that’s been in talks for some time.

 

The tweet read, in part, “If any of this is based on Hertz, I’d like to emphasize that no contract has been signed yet.” Emphasizing the demand to production ratio, he wrote, “Tesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers. Hertz deal has zero effect on our economics.”

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According to reports, though Musk tweeted no contract has been signed, Tesla has already provided Hertz with cars for their rental fleet.

“Deliveries of the Teslas already have started. We are seeing very strong early demand for Teslas in our rental fleet, which reflects market demand for Tesla vehicles,” Lauren Luster, director of communications at Hertz, stated.

According to CNBC, Luster didn’t give the specific of the agreement. But Luster did say that Hertz is still “on plan with its announcement last week to offer 100,000 Tesla electric vehicles by the end of 2022.”

This isn’t the first Tesla or Musk tweet to make headlines. In response to an article that stated 2% of Musk’s income would help solve world hunger, Musk tweeted that he would be open to selling his Tesla stock.

“If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it,” he tweeted.

 

 

 

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Facebook Plans To Shut Down Its Facial Recognition System For More Than One Billion Users

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BREAKING: Facebook, Instagram And WhatsApp All Go Down In Major Outage

If you’ve ever been worried about the lil’ FBI agent in your phone watching your every move, you won’t have to worry about them coming from Facebook anymore!

Facebook announced on Tuesday it will be shutting down its facial-recognition system and deleting the face scans of more than 1 billion people.

“This change will represent one of the largest shifts in facial recognition usage in the technology’s history,” Jerome Present, vice president of artificial intelligence for Facebook’s new parent company said. “More than a third of Facebook’s daily active users have opted in to our Face Recognition setting and are able to be recognized, and its removal will result in the deletion of more than a billion people’s individual facial recognition templates.”

About 640 million Facebook’s users have opted in to use the social network’s face recognition system, and Presenti noted the growing concerns about facial-recognition technology’s impact on society. The use of face identification software has sparked public debate because of how it can be misused by government agencies, law enforcement and big corporations.


“Every new technology brings with it potential for both benefit and concern, and we want to find the right balance,” he said.

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Facebook previously scaled back the use of another feature that they introduced in December 2010 which used facial-recognition software to automatically identify people in user’s photos. Once the person’s profile was identified, the user could tag them in the photo with just one click.

The company was sued for the tag feature, and agreed to pay $650 million to settle the class-action lawsuit in Illinois. The opposing party accused the site of violating a state law that requires residents’ consent to use their biometric information including their “face geometry”

“Facebook getting out of the face recognition business is a pivotal moment in the growing national discomfort with this technology,” said Adam Schwartz, a senior lawyer with the Electronic Frontier Foundation. “Corporate use of face surveillance is very dangerous to people’s privacy.”

 

 

 

 

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