Lower-Income Teens Rely on Facebook More Than Wealthier Peers
*By Amanda Weston*
Teens whose families earn $30,000 or less a year are more likely to rely on Facebook than their wealthier peers. [A Pew Research Center survey](https://qz.com/1355827/do-teens-use-facebook-it-depends-on-their-familys-income/) reported 70 percent of teens in lower-income households still use the platform, compared with only 36 percent of teens in the $75,000 and up bracket.
"A lot of them have to do with resilience and how teens use Facebook to kind of get ahead," said Hanna Kozlowska, a reporter at Quartz. "So they use it for networking for example, because they might not have as much resources as wealthier teens."
About half of all teenagers use Facebook, but Kozlowska said that lower-income students who may not have as much access to resources turn to the social platform to get in touch with teachers, ask for homework help, and create a support network. Their older relatives are also more likely to be on the platform.
The teens who are still on Facebook may not want to spend as much time there as they do, said Kozlowska, and their numbers could dwindle if the adults they usually connect with age or abandon social media.
"Facebook isn't actively doing anything to kind of help them, to elevate them," Kozlowska said, and that the company didn't respond specifically to the Pew study. "They said, 'Oh, yeah, this is just an example of how an ad-based free network is good' right? They didn't particularly elaborate on that," she said.
Facebook had the biggest differences between three income brackets. Instagram and YouTube were the most consistent.
For full interview, [click here] (https://cms.cheddar.com/videos/VmlkZW8tMjIxODQ=).
Solid-state battery maker Factorial Energy recently raised $200 million in a Series D round led by Mercedes-Benz and Stellantis. Factorial says the funding will be used to accelerate commercial production and deployment of its solid-state battery technology, which the company says is safer, and offers up to 50% more driving range than current lithium-ion technology. Factorial also has joint development agreements (announced in late 2021) with Mercedes-Benz, Stellantis, and Hyundai, three of the top 10 global automotive manufacturers, to commercialize its batteries. Factorial CEO Siyu Huang joined Cheddar News' Closing Bell to discuss.
Google's parent company Alphabet reported blockbuster fourth quarter earnings, boosted by better-than-expected Google ad revenue and Google Cloud revenue. The results sent Alphabet's stock soaring, and the company could come close to hitting a $2 trillion market valuation similar to other tech giants Apple and Microsoft. The company also announced a 20-for-1 stock split, which would make shares more accessible to would-be investors. Mark Lehmann, CEO at JMP Securities, a Citizens Company, joins Closing Bell to discuss Alphabet's earnings report, whether the company will reach a $2 trillion market cap, its stock split, and more.
David Malott, founder and chief architect at AI PlanetWorks joins Cheddar News to discuss the release of its augmented reality NFTs for the metaverse called 'TERA.'
Jess Hunichen and Emily Ward, co-founder of Shine Talent Group join Cheddar News to talk about The BodCon conference and how it empowers men and women to feel confident.
FIT:MATCH is looking to change the game when it comes to the way retailers size clothes. The company's augmented reality technology takes a look at body shape data rather than generalized, traditional sizing parameters to determine how a piece of apparel will fit wearers. Haniff Brown, CEO and founder, joined Cheddar to discuss the patented ar-powered apparel technology and partnering with pop superstar Rihanna’s Savage X Fenty lingerie line. "We launched in Vegas with Savage on January 22 and we've been having goosebumps at some of the testimonials, where customers are saying this is such an easier process versus going into a fitting room and having an associate have to touch and get handsy with a cold tape measure," Brown said.
TerraZero's chief experience officer Brandon Johnson and chief metaverse officer Ryan Kieffer joined Cheddar News to discuss the technology company making the first-ever Metaverse mortgage.
Alia Kemet, vice president of creative and digital at McCormick, joins Cheddar News to discuss Frank's RedHot releasing an edible NFT ahead of the Super Bowl.