There's a spotlight on Facebook as the social media giant reports earnings Wednesday. The company faces increasing scrutiny over fake news on its platform. Flipboard CEO Mike McCue explains the lessons he thinks Facebook needs to learn from journalism.
"When you are building algorithms that are responsible for informing entire populations, the whole society of people you want to make sure you are applying basic journalistic principles, " said McCue. The five lessons McCue says algorithms must learn from journalism include truth and accuracy, independence, fairness and impartiality, humanity, and accountability.
Facebook recently updated its algorithm to prioritize friends and family over media publishers. McCue says Facebook's algorithms should be controlled by journalists.
Soulja Boy is not shy about expressing his infatuation with three things: wealth, fame, and Tesla. "I love Tesla ($TSLA), man. I think it's one of the most innovative things in the last century," said the rapper, who dressed in a Tesla tracksuit for his interview with Cheddar Wednesday.
Even after a dramatic and high-profile series of privacy violations in 2018, consumers are still willing to surrender personal data to improve their shopping experience ー but only if that data is handled responsibly, Salesforce growth and innovation evangelist Tiffani Bova told Cheddar Wednesday.
A new travel site is looking to make booking a vacation as easy as sending a text message. SnapTravel offers exclusive hotel deals via SMS, in an effort to get customers the hotel they want, when they want it. "Essentially, we want to get you the best hotel, as fast as possible, and as easy as possible," CEO and co-founder Hussein Fazal told Cheddar.
Snap’s Chief Financial Officer, Tim Stone, and Vice President of Investor Relations, Kristin Southey, have both left the company after less than a year. Both departures come as the company is still reeling from a disastrous app redesign and is under federal investigation in connection with a class action shareholder lawsuit.
As NBCUniversal, Disney, and WarnerMedia prepare to launch streaming services, Netflix is raising subscription prices to ensure it has the budget to tighten its stronghold and expand its reach in the content wars. Netflix announced on Tuesday it will raise its prices 13 to 18 percent, just as NBCUniversal confirmed it was entering the streaming business with its own subscription service.
Brex, the provider of credit cards for early stage venture-backed companies, plans to broaden its customer set this year to include other small businesses, according to CEO and co-founder Henrique Dubugras.
The National Retail Federation trade show, held this week in New York City, has long been a place for industry players ー merchants, retailers, payment providers, marketing execs ー to gather and preview the latest innovations in commerce. And while Amazon, the world's largest retailer, was conspicuously absent from this year's event the presence of the e-commerce behemoth could be felt across the vast expanse of the Javits Convention Center.
Disappointing quarterly earnings from JPMorgan Chase weighed on the Dow and other major indexes Tuesday morning even though investors seemed optimistic about a new stimulus plan from China. NBC disclosed more details about its ad-supported streaming service which is scheduled to launch in 2020. Plus, Harlem Capital's John Henry joins Cheddar to talk about Gary Vaynerchuk's Agent2021 conference, his new Viceland series, and Harlem Capital's first fund for underrepresented entrepreneurs.
These are the headlines you Need 2 Know for Tuesday Jan. 15, 2019.
Purchasing a major media company like Sony Pictures or Viacom might be the solution to Apple's iPhone problem, according to Wedbush Securities analyst Daniel Ives. "It's a services-led story but you need the content, which is why in our opinion, the stock has struck midnight for Apple to make an acquisition," Ives added.
