|Day's range||34.55 - 36.25|
Marketing veteran and entrepreneur Gary Vaynerchuk weighs in on the controversy swirling around Facebook.
It's been over a decade since AMD (NASDAQ: AMD) spun off its semiconductor manufacturing segment, the company now known as GlobalFoundries. During the depths of the Great Recession, the deal was deemed necessary to help AMD survive, although AMD maintained the long-term vision was to refocus on technology, chip design, and better investment returns.
(Bloomberg) -- Here’s a list of companies that are planning to halt spending on social media. Some have joined a boycott of Facebook Inc. after critics accused the social network of inadequately policing hateful and misleading content on its platform:Pernod Ricard SA -- The French distiller of Jameson whiskey and Absolut vodka, which spends more than 1.5 billion euros ($1.69 billion) on advertising annually, is boycotting Facebook and some other U.S. sites through July 31 and working with partners on an app to help victims of online abuse.Daimler AG -- The Mercedes-Benz maker is pausing its paid advertising on Facebook platforms in July, while adding that it expects to the relationship to resume because it’s confident the social-media company will take “necessary steps.”Molson Coors Beverage Co. -- The brewer is choosing to pause advertising on Facebook, Instagram and Twitter while it reviews its own standards and ways to protect the brands and guard against hate speech, Chief Marketing Officer Michelle St. Jacques said in an internal email.Constellation Brands -- The maker of Corona beer and Kim Crawford wines is pausing Facebook ads for the month of July.Dunkin’ Brands Group -- The donut chain is temporarily pausing its paid media on Facebook and Instagram, a spokesperson says, adding that it’s in discussions with Facebook about efforts to stop hate speech and thwart “the spread of “racist rhetoric and false information.”Lego A/S -- Stopping all advertising on social media for at least 30 days to review its standards and will “invest in other channels” during that time.The Body Shop -- The beauty chain says it’s halting paid activity on all Facebook channels and asking the social-media company to enhance and enforce its content-moderation policies.Starbucks Corp. -- Pausing advertising on all social media platforms. Will post on social media without paid promotion.Microsoft Corp. -- Paused global advertising spending on Facebook and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.Unilever Plc -- Halting advertising on Facebook, Instagram and Twitter in the U.S. through Dec. 31.Volkswagen AG -- The ad stop on Facebook affects the direct ad accounts of the German manufacturer’s brands, including Porsche, Audi and Lamborghini. VW, its ad agencies and the Anti Defamation League will enter talks with Facebook over how to deal with hate speech, discrimination and false information, according to an emailed statement.Mars -- Starting in July, a pause on paid advertising globally across social-media platforms, including Facebook, Instagram, Twitter and Snapchat.Target Corp. -- Pausing ads on Facebook in July.Coca-Cola Co. -- Pausing advertising on all social media platforms.Clorox Co. -- Will stop advertising spending with Facebook through December.Conagra Brands Inc. -- Will stop advertising in U.S. on Facebook and Instagram through the rest of the year.Ford Motor Co. -- Halting U.S. social media for 30 days, won’t purchase social media ads for Bronco unveiling.Honda Motor Co. -- “For the month of July, Honda will withhold its advertising on Facebook and Instagram, choosing to stand with people united against hate and racism.” Acura, a Honda brand, said in a tweet that it was “choosing to stand with people united against hate and racism.”Hershey Co. -- Will halt spending on Facebook in July and cut its spend on the platform by a third for the remainder of the year, according to Business Insider.Diageo Plc -- Pausing paid advertising globally on major social media platforms beginning in July.PepsiCo Inc. -- Pulling ads on Facebook from July through August.Verizon Communications Inc. -- “We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with we’ve done with YouTube and other partners,” said John Nitti, chief media officer for Verizon.SAP SE -- “We will suspend all paid advertisements across Facebook and Instagram until the company signals a significant, action-driven commitment to combatting the spread of hate speech and racism on its platforms.”Levi Strauss & Co. -- Pausing all paid Facebook and Instagram advertising globally and across all brands through July.Diamond Foundry Inc. -- Pulling all of advertising from Facebook, including Instagram, for the month of July.Patagonia Inc. -- Will pull all ads on Facebook and Instagram, effective immediately, through at least the end of July, pending meaningful action from Facebook.Viber Media Inc. -- The messaging service, owned by Japanese conglomerate Rakuten, plans to cut ties with the social network entirely, according to the Guardian.VF Corp. -- The North Face will pause ads on Facebook for the month of July. Vans, another VF brand, will also pull ad dollars from Facebook and Instagram next month, and said it will use the money to support Black communities through empowerment and education programs.REI -- “For 82 years, we have put people over profits. We’re pulling all Facebook/Instagram advertising for the month of July.”Upwork Inc. -- No Facebook advertising in July.Eileen Fisher Inc. -- Pulling ads from Facebook through July.Adidas AG -- Will stop ads on Facebook and Instagram internationally through July, according to Adweek.Puma SE -- Will stop all advertisements on Facebook and Instagram throughout July.Madewell Inc. -- Will pause ads on Facebook and Instagram through July.Pfizer Inc. -- Removing all advertising from Facebook and Instagram in July, calls on Facebook to heed the concerns of the StopHateForProfit boycott campaign “and take action.”Chipotle Mexican Grill Inc. -- To pause Facebook advertising beginning July 1, according to an email.Chobani -- The Greek-yogurt company paused all paid social-media advertising.Peet’s Coffee -- Paused advertising on Facebook.(Updates with Pernod Ricard, Daimler, Dunkin’, Lego and Body Shop)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
With that in mind, we asked five Motley Fool contributors to share their best picks for investors in this unusual July. Here's why they think these stocks could put fireworks in your portfolio this month.
Ollie's Bargain Outlet, Designer Brands, AbbVie, Microsoft and Lockheed Martin highlighted as Zacks Bull and Bear of the Day
Working-from-home policies have caused increasing reliance on videoconferencing technology, and well-known video communications company Zoom (NASDAQ: ZM) has profited greatly. With seamless communication as a goal, Zoom has experienced great popularity for its ease of use.
Check out these three stocks with solid dividend yields that appear ready to continue to weather the coronavirus economic downturn in the second half of 2020...
Now, tech companies are slowly stepping up to try to address the crisis, and the latest development on that front comes from Microsoft. The company today announced a wide-ranging, global portal for free skills training for people who are out of work. Alongside that, Microsoft said it plans to disperse $20 million in grants to nonprofit organizations that are working to help those who have lost jobs due to COVID-19 and subsequent shifts in the economy, and with a specific emphasis on those that are working with groups that are underrepresented in the tech world.
(Bloomberg) -- Microsoft Corp. and its LinkedIn unit will provide free job training to help unemployed workers prepare for in-demand jobs as the global pandemic pushes U.S. joblessness to levels as bad as those during the Great Depression.The program uses LinkedIn data to find the jobs that employers most want to fill, and offers free access to content that helps workers develop the required skills. The company will also cut the cost of its certification exams and offer free job-seeking tools. Microsoft aims to provide additional skills to 25 million people globally by the end of the year through the program for such jobs as software developer, customer-service specialist and graphic designer.Microsoft said its calculations show global unemployment may reach a quarter of a billion people this year. The U.S. unemployment rate was 13.3% in May, the highest level since 1940, as the coronavirus shut down stores, restaurants and bars, with higher rates of joblessness among Black and Latino workers. While parts of the economy are starting to reopen in the U.S., companies are also shutting down, filing for bankruptcy or announcing permanent job cuts to adjust to a long-term slowdown. In January, Microsoft began working on a plan for a smaller program to highlight tools to address a long-term move to jobs that are becoming increasingly digital. When Covid-19 hit, the company decided to expand the program to reach more workers faster, Microsoft President Brad Smith said in an interview. “Covid-19 sent so many people home, if they had the good fortune to keep their job and work from home,” Smith said. “It became clear that in order to get back into the workplace, many people would not be able to return to the job they left — they might need to get a new job — or even their old job required a lot more digital skills than before.”Microsoft used data from LinkedIn to come up with 10 roles with the greatest number of job openings, steady growth for the last four years, “livable” wages and skills that can be learned online, the company said Tuesday in a blog post. These include: software developer, sales representative, data analyst, customer service specialist and graphic designer.One piece of the original program that has been broadened in the wake of the pandemic is funding for nonprofit groups to reach out to people who otherwise won't know about the program or who can’t do everything online. Microsoft will spend $20 million in cash grants for global nonprofits with a goal of helping 5 million unemployed workers this year. The effort will focus in particular on people with disabilities, workers from low-income communities, women and minorities. A quarter of the money will be earmarked for grants to 50 U.S. community-based nonprofit organizations led by and serving communities of color, Microsoft said. “Someone who is unemployed needs to know what to learn. We give them the access to that learning material for free to areas where we know there are recruiters and hiring managers on the other side waiting to hire them,” said Ryan Roslansky, LinkedIn’s chief executive officer. LinkedIn also plans to provide its own labor market data and information on in-demand skills for free to governments. The data will include popular job openings in a region, the top skills required for those jobs and data on which employers are hiring the most in a particular geography. The data will be available at opportunity.linkedin.com.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Amazon.com Inc.’s appetite for lucrative government contracts is sending it to space.Amazon Web Services, the company’s cloud-computing division, on Tuesday announced a new business segment targeting aerospace, satellite and other space customers. The Aerospace and Satellite Solutions group will be led by retired Air Force Maj. Gen. Clint Crosier, who previously oversaw the creation of the new Space Force armed services branch. Amazon didn’t say how much it plans to invest in the new unit.AWS helped pioneer cloud computing, which has seen many businesses unplug their data centers in favor of rented data storage and software services from technology giants like Amazon, Microsoft Corp. and Google. AWS will now pitch that infrastructure to space customers, a bet that its existing investments will give Amazon an advantage over rivals.“As the world’s most comprehensive cloud platform, AWS is uniquely positioned to help make the flow of space data more accessible, more cost effective and more actionable,” Teresa Carlson, who leads AWS’s public sector business, said in a blog post.AWS has sought to expand its government and defense contracting business in recent years, building off a landmark 2013 deal to provide services to the Central Intelligence Agency. Even as some Silicon Valley giants debate whether to wade deeper into military contracting, Chief Executive Officer Jeff Bezos has said Amazon is committed to supplying technologies to U.S. government clients. AWS has major offices in Northern Virginia, and the company is building a massive corporate campus is Arlington, Virginia, not far from the Pentagon.The company last year launched AWS Ground Station, which lets customers control satellites and download data to AWS data centers. Separately, Amazon is seeking to launch a constellation of its own satellites to provide broadband internet access.The creation of the new division was reported earlier by The Wall Street Journal.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Although not technically part of the Stop Hate for Profit "pause" campaign, Microsoft recently began to take its ad spending elsewhere.
StopHateForProfit campaign is gaining steam with 180 advertisers having boycotted Facebook. Google and Twitter are undertaking initiatives to prevent themselves from facing the similar wrath.
Hunters, a Tel Aviv-based cybersecurity startup that helps enterprises defend themselves from intruders and analyze attacks, today announced that it has raised a $15 million Series A funding round from Microsoft's M12 and U.S. Venture Partners. Seed investors YL Ventures and Blumberg Captial also participated in this round, as well as new investor Okta Ventures, the venture arm of identity provider Okta. With this, Hunters has now raised a total of $20.4 million.
Slack takes a bold step towards replacing e-mails for external communications -- but will it widen its moat against its biggest competitor?
(Bloomberg) -- Indian and U.S. technology companies are urging the Trump administration to reconsider an executive order freezing access to many work visas, warning the move would undermine a business model used to supply high-skill talent to clients from Wall Street to Silicon Valley.Donald Trump’s order last week halts approvals of a range of visas through year-end, including those for intra-company transfers and study-abroad programs, and is aimed at giving Americans preference after record job losses from the coronavirus pandemic. Key for the tech industry are H-1B visas used by workers from India and other countries to fill key roles.Visa processing is an elaborate, months-long affair so any disruption could hurt the ability of critical workers to travel to clients sites for an extended period. Already, the virus lockdowns have blocked consulate visits essential to the process and forced hundreds of thousands of workers into challenging work-from-home situations.India’s technology trade group, Nasscom, called Trump’s order “misguided and harmful to the U.S. economy” and warned it would exacerbate the country’s economic pain. Indian companies provide technology staff and services to U.S. hospitals, drugmakers and biotechnology companies, Nasscom pointed out. In addition, the industry may send more workers to Canada or Mexico without access to the U.S. market.“These are highly-skilled workers who are in great demand and they will be mobile no matter what,” said Shivendra Singh, president of global trade development at Nasscom.Among the other critics of the order were Alphabet Inc. Chief Executive Officer Sundar Pichai, Microsoft Corp. President Brad Smith and Tesla Inc. founder Elon Musk. Pichai, himself a beneficiary of the H-1B visa system in the 1990s, tweeted, “Immigration has contributed immensely to America’s economic success making it a global leader in tech, and also Google the company it is today.”Tata Consultancy Services Ltd., Infosys Ltd. and Wipro Ltd., among the largest outsourcing companies in Asia, declined to comment.India accounts for about 70% of the 85,000 H-1B visas issued annually, according to immigration data. Of this total, 65,000 visas are issued to foreign talent with bachelor’s degrees, while the remaining 20,000 can be allotted to workers who have more advanced degrees.The visa system was conceived so companies could hire overseas workers to fill a shortage of high-skilled talent in technology services and product development. The fact that Indian outsourcers collect a substantial share of the visas each year has made the program controversial, with critics arguing that companies abuse the system by replacing American workers with cheaper foreign labor.Soon after taking office, Trump vowed he would crack down on work visas and reform the “broken” immigration system. One longer-term concern for outsourcers is the administration’s planned revamp of the current H-1B visa program, which would replace the current lottery system for determining who gets visas with a merit-based system that prioritizes applicants based on wages. That would mean more workers with high salaries would likely receive visas.Now, outsourcing companies are dealing with the unpredictability of the visa situation and the prospect that an H-1B revamp could make it difficult to send anyone but the most critical of talent overseas.Trump Orders Freeze on Many Work Visas Through End of Year The most recent visa curbs could hammer outsourcers’ current model of talent deployment. Companies are beginning to question whether so much onsite travel is necessary, and some are ramping up local hiring or local subcontractors. The pandemic has prompted companies to look at worker clusters away from client sites but close enough to collaborate on projects. For instance, if a company has 20,000 employees spread across 40 cities, these could be aggregated in a few clusters and if the visa restrictions continue, the clusters may not be in Texas or New Jersey but in Canada or Mexico.“Offshoring could increase because, for clients, the virus lockdowns have already driven home the merits of remote working,” said Singh, speaking over the phone from New Delhi.Indian companies could see an impact on their margins because of increased worker salaries, higher costs of local hiring and subcontracting and the collateral damage from visa rejections and prolonged processing times. “The temporary suspension of H-1B visa programme till December 2020 will hamper execution of pipeline and new projects coupled with margin impact resulting from higher onshore hiring,” credit rating company ICRA said in a note last week.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Microsoft (MSFT) closed the most recent trading day at $198.44, moving +1.07% from the previous trading session.
(Bloomberg) -- Microsoft Corp. has paused global advertising spending on Facebook Inc. and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.The software giant spent an estimated $116 million in Facebook advertising in 2019, and was the company’s third-largest advertiser last year, according to data from Pathmatics. Microsoft initially halted spending on the sites in the U.S. in May and has now expanded that globally, said the person, who didn’t want to be named discussing internal corporate matters. Axios earlier reported the move, citing comments from Chief Marketing Officer Chris Capossela in an internal Microsoft message board.Capossela did not immediately return an email asking for comment.A list of companies pulling back spending on Facebook properties is lengthening almost by the minute, part of an exodus aimed at pushing the social network and its peers to limit hate speech and posts that divide and misinform. Starbucks Corp. and Diageo Plc, Ford Motor Co. and HP Inc. are among those who said they are stopping ads on social networks for now.Microsoft’s concerns relate purely to the placement of ads next to certain content and aren’t a statement about Facebook’s policies, the person said.The company has spoken with Facebook and Instagram executives on what steps will be needed to resume spending and expects the advertising halt to be in effect through August.Although it didn’t disclose it publicly at the time, Microsoft was among companies that pulled ads from YouTube in February 2019 amid concerns about child pornography, the person said.(Updates with timing in the sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Facebook Inc. fielded criticism from a growing number of consumer companies over harmful content on its sites, with Starbucks Corp. and Diageo Plc pulling back on ad spending and General Motors Co. planning to review its social media marketing strategy.Starbucks and Diageo followed Unilever, Coca-Cola Co. and several other companies in saying they will cut ad spending, part of an exodus aimed at pushing Facebook and its peers to limit hate speech and posts that divide and misinform. Microsoft Corp., which was Facebook’s third-largest advertiser last year, has paused global ad spending on the site because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter. The list of companies taking similar action lengthened on Monday. Britvic Plc, which supplies a wide range of soft drinks, Patreon Inc. and The Clorox Co. all said they will stop advertising on Facebook while GM said it’s “reviewing and reinforcing” its marketing guidelines.Read more: How to Go Cold Turkey on $77 Billion of Facebook Ads: Alex WebbWhile a single advertiser can do little to hurt a company that generated $17.7 billion in revenue last quarter, the rising tally creates peer pressure on other brands, and civil rights groups say they expect more corporations to join a boycott. Combined with a pandemic-fueled economic slowdown, the threat to Facebook is deepening.“Given the amount of noise this is drawing, this will have significant impact to Facebook’s business,” Wedbush Securities analyst Bradley Gastwirth wrote in a research note. “Facebook needs to address this issue quickly and effectively in order to stop advertising exits from potentially spiraling out of control.”Shares gained 2.1% Monday to close at $220.64 in New York, after dropping 8.3% on Friday. Unilever, one of the world’s largest advertisers, said it would cease spending on Facebook properties this year, eliminating $56 billion in market value and shaving the net worth of Chief Executive Officer Mark Zuckerberg by more than $7 billion.Facebook was already bracing for weakness in the second quarter, which ends this week. Chief Financial Officer Dave Wehner said in an April earnings call that he saw the “potential for an even more severe advertising industry contraction.”The number of coronavirus cases has surged in the intervening months, prompting many parts of the country to slow or roll back reopening efforts and giving advertisers added justification to rein in spending. Facebook’s sales will rise 1% in the June period, followed by a 7% increase in the third quarter, analysts predict, by far the smallest quarterly growth increases since the company went public.Advertiser boycotts in July could cost Facebook more than $250 million in the third quarter if 25% of its top 100 buyers pause spending, and as much as $500 million if 50% of the top advertisers stop, according to Bloomberg Intelligence analyst Jitendra Waral.Zuckerberg announced changes Friday designed to appease critics, but the Anti-Defamation League, one of the groups calling for the boycott, called the amendments “small.”Some analysts have said the financial impact of recent exits will be limited, citing past advertiser revolts. Even so, this exodus is distinct in key ways, Bernstein Securities analyst Mark Shmulik wrote in a research note Saturday. There’s heightened pressure to publicly demonstrate that brands stand with civil-rights groups, he said.“The current environment is very different,” Shmulik wrote. “It is very visible who is and isn’t participating in the boycott where brand silence [equals] being complicit.”(Updates to add Microsoft withdrawl in second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
We dive into five tech stocks that investors might want to consider buying for the second half of 2020 that are not part of the FAANG group or named Microsoft...
(Bloomberg Opinion) -- Mark Zuckerberg has a problem, and he can fix it.Public furor over Facebook Inc.’s content policies has led some of its biggest advertisers to take action, with brands from Starbucks Corp. to Unilever, Coca-Cola Co. and Verizon Communications Inc. all vowing to pull ads from the social media giant’s namesake Facebook platform as well as Instagram for at least the month of July. The move was initially spurred by a campaign led by a coalition of civil rights groups — including the Anti-Defamation League and NAACP — to force Facebook to do more to curb hate speech and language promoting violence. As the effort has gained traction, the numbers joining the boycott are increasing on a daily basis. On Monday afternoon alone, Best Buy Co. said it would pause its ad spending on Facebook, while Axios reported that Microsoft Corp. had suspended its advertising as well.Facebook has come in for criticism about its practices before and got past it largely by riding out the negative publicity while offering some incremental fixes. For example, Facebook already survived the Cambridge Analytica data-privacy scandal a couple years ago without serious long-term ramifications. And so, Zuckerberg may be tempted to hunker down this time as well.On a purely short-term financial basis, it would make sense. According to Pathmatics data, the top 50 advertisers on Facebook accounted for just 4% of the company’s sales last year. The vast majority of the rest comes from millions of small- and medium-sized businesses that are less affected by any public shaming from activists, and arguably more reliant on the exposure they get from buying ads on Facebook and Instagram. But a decision based purely on dollars and cents would be short-sighted in this instance, and bad for business.More and more, it’s becoming clear that the recent wave of protests over racial injustice isn’t a short-lived phenomenon, but one that appears to reflect a sea-change in perception and beliefs, and — like the MeToo movement before it — demands a change in behavior. The backlash that started at the grassroots level and moved on to corporate action is likely to move next to the political and regulatory sphere. Wouldn’t it be better for Facebook, already in the public glare, to bend and make its own meaningful policy changes instead of being forced to accept more punitive prescriptions and further potential damage to its reputation and business?Facebook is already facing increased regulatory scrutiny in the U.S. Politicians from both sides of the aisle have made proposals to reform Section 230 of the Communications Decency Act, which shields internet companies from legal liability over user-generated content. For now, Republicans and the Department of Justice are focused on issues of conservative speech censorship, while Democrats have asked for the faster removal of misinformation and false claims inside political ads.The disparate points of emphasis likely means nothing will happen in Congress before the November election. However, if one party controls both houses of Congress and the White House next year, the probability of regulation will rise considerably.In the near term, the risk for Facebook may be greater from Europe than the U.S. The region’s authorities have identified antitrust as the more effective way to tackle Silicon Valley’s shortcomings than regulation, whose limits have been exposed by the General Data Protection Regulation that kicked in two years ago. GDPR has done little either to change the business practices of Google or Facebook, or to reduce their market power. And discussions about data or content are always questions of regulation, rather than antitrust.But antitrust is far more of an existential threat to Facebook than is regulation. That’s not simply because it could, in the most extreme circumstances, result in a breakup of the company. It’s because antitrust by definition seeks to tackle its business practices.Just last week, Germany’s highest civil court ruled that Facebook must stop logging browsing activity outside of its platforms without users’ explicit permission, and that such permission couldn’t be a condition of using its other services. Crucially, though, the decision was based not on data protection but antitrust laws. It said Facebook was abusing its market power to force users to accept the terms because it is the dominant social network. And the ruling fundamentally attacked the company’s business model, which is built on using such data to target ads effectively. An effort by Britain’s Competition and Markets Authority is even less ambiguous: It’s carrying out a study into online platforms and digital advertising.While the U.K. is no longer a member of the European Union, the bloc’s regulators are following the findings of the study closely. After years of tackling Google, Facebook is now high on the European agenda. The two firms’ dominance of digital advertising is fueled by their low incremental costs. Tackle their business models, and you might resolve the harmful content problem, runs the argument. The EU plans new rules by the end of the year on content regulation and platform liability, while Margrethe Vestager, the EU’s antitrust and tech chief, is seeking new powers to break companies up. And the European Commission has more power than U.S. regulators: It can impose decisions unilaterally, which companies can then challenge in court. In the U.S., regulators generally need court approval first before any ruling is imposed.So, Zuckerberg needs to acknowledge the growing uproar is symptomatic of new and lasting societal, political and regulatory crosscurrents. While he has long been adamant it is not Facebook’s job to be the “arbiter of truth,” there is no better climate, in the face of pressure from advertisers, politicians and civil rights groups alike, to alter that stance — he can change tack without losing as much face.Serious changes are needed — from being more effective in taking down hate speech quickly to clamping down on false claims and disinformation from all users. Such moves would help the company get ahead of future actions from regulators. That would be wise as government regulation will likely be far more punitive – whether it be from the European Union or a potentially new American administration.Simply, Facebook’s traditional hands-off approach isn’t good enough anymore. It’s time for Zuckerberg to show some real leadership.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Microsoft (MSFT) to close brick-and-mortar outlets as a part of rethinking digital retail strategy. The company is touted to have acceded to dominance enjoyed by Apple Stores.