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Personal scoop: I'm joining Bloomberg to cover TikTok!
I've long admired the work of @sarahfrier @KurtWagner8 @aishacounts @rileyraygriffin @daveyalba @jillianannward @tsgiles and so many others at @business — and I'm thrilled to be a part of their all-star @technology team! 🎉
New: Instagram is rolling out new video formats aimed at laying the foundation for its big push into TV.
Can Insta -- which first rose to prominence as a photo-sharing app -- make it as an entertainment app like TikTok and YouTube?
In Bloomberg @business:bloomberg.com/news/articles/…
Meta's Chief Global Affairs Officer Joel Kaplan -- a longtime top adviser to Mark Zuckerberg -- is leaving the company after a decade and a half:
bloomberg.com/news/articles/…
Alexandra S. Levine retweeted
Personal news: After nearly 8 years at NPR, I’m excited to share that I’m going to Bloomberg to help lead coverage of the prediction market industry. I’ll be joining their mighty crypto and prediction markets team, which has long been doing really impressive work for @business and @BW. I start just after midterms.
Kalshi/Polymarket/PM tips or convos: ballyn.77 on Signal
Little on social media surprises me anymore, and throughout pregnancy I fully expected to be bombarded with baby gear to buy (you know, the usual).
Instead, what's followed me around my feeds these past many months has been so, so much worse. In @business:bloomberg.com/news/newslette…
Alexandra S. Levine retweeted
NEW: Last fall, executives at TikTok slashed the number of violations for which a TikTok advertiser could be immediately banned by more than half, from 37 down to 13, according to policy documents and four TikTok sources. That opened the floodgates to a surge in scams.
ICYMI:
TikTok is paying $300M to settle the child safety lawsuit brought by Alabama's attorney general, which was set to go to trial today.
Still, TikTok faces more courtroom battles across
✅Texas
✅Arkansas
✅NJ
✅Utah
✅DC
✅New Hampshire
and beyond:
bloomberg.com/news/articles/…
The message at Made on YouTube today was clear:
YouTube's growing suite of AI tools -- powered by Google's most powerful models -- are intended to lighten creators’ editing, production and administrative load -- not replace them or their creative process: bloomberg.com/news/articles/…
Meet Zuckerberg's right-hand Dina Powell McCormick.
She's president of Meta Compute and a dealmaker and fixer helping the company tackle its thorniest problems -- "the last person who’s consulted on really important decisions." @business @rileyraygriffin:
bloomberg.com/news/articles/…
Scoop in @business-
TikTok has dropped out of an upcoming meeting with the House China Committee -- saying it can't join to answer lawmakers' questions on national security because of unrelated child safety litigation, according to Chairman @RepMoolenaar: bloomberg.com/news/articles/…
Google is prioritizing YouTube Shopping as one of its next big bets -- treating it as another major, long-term investment like those it's made (very successfully) in podcasting and "the living room."
On YouTube Shopping's new partnership with Amazon:
bloomberg.com/news/articles/…
Throughout the weekend, Meta will run full-page ads in top newspapers demanding TikTok and YouTube make comparable changes to strengthen social media protections for teens.
Last time we saw this kind of blitz was in 2018, post-Cambridge Analytica: bloomberg.com/news/articles/…
Meta and state AGs' deal aimed at better protecting teens on Instagram is a win on paper.
But whether it'll work hinges on a problem the tech industry has struggled with for years: Figuring out how old users actually are.
w/ @rileyraygriffin in @business bloomberg.com/news/articles/…
Breaking:
Meta has agreed to pay up to $16.7 billion to settle a landmark social media case with multiple US states.
Most notably, the deal requires the company to put strict new guardrails for youth on Instagram and Facebook.
From @madlinbmek @business:bloomberg.com/news/articles/…
TikTok is exploring a feature that would allow users to send money to each other via DMs -- a move that would extend the social media app’s push into fintech and payments.
with @natlungfy in Bloomberg @business: bloomberg.com/news/articles/…
What's it like being a kid in the Ozempic era?
The GLP-1 craze is hitting today's teens and tweens hard.
Use in under-18s is booming, forcing a generation to navigate the uniquely dangerous collision of weight loss drugs, AI and social media all at once: bloomberg.com/news/features/…
Scoop: TikTok is settling three more trials in October related to allegations that the platform is addictive and harmful to minors.
TikTok already settled two separate personal injury cases that were scheduled for trial earlier this year.
w/ @livcarville:bloomberg.com/news/articles/…
Support for "bell-to-bell" cellphone bans is growing:
-Most Americans now support phone bans for middle and high schoolers while they're in class
-Half now support bans for the entire school day
Not totally surprising, but the tide is definitely turning:pewresearch.org/short-reads/…
What does it mean that China is outpacing the US on children's safety with AI?
Latest in Bloomberg @technology:
bloomberg.com/news/newslette…
Scoop: Snap is nearing a settlement in the social media addiction trial set to start next week in LA.
TikTok and YouTube recently did the same.
That leaves Meta to go it alone before a jury:
bloomberg.com/news/articles/…
Seeing YouTube's top stars make shows or vids for Netflix creates a perception that YouTube creators must "graduate" to the Hollywood big leagues -- which could undercut YouTube's media dominance.
@Lucas_Shaw on Netflix coming for YouTube’s biggest stars: bloomberg.com/news/newslette…