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=).
Investors were on edge on Monday following bitcoin plummeting below the $40,000 dollar mark, hit its lowest price since September. The world's largest crypto has had months of hot and cold streaks, hitting a record high of $69,000 just months earlier in November. The latest drop now has analysts wondering just what 2022 will have in store for bitcoin and crypto as a whole.
Budd White, Chief Product Officer at Tacen explains what’s next for bitcoin and what other cryptos should be on the lookout for.
For the first time since September, Bitcoin fell below $40,000 early Monday. The currency's average short-term price has now dipped below its average long-term price, which is known by a rather dramatic term, a death cross. According to analysts, the indicator appears to be a result of mounting concerns of faster liquidity withdrawal by the US Federal Reserve. The crypto slump also follows a week of rough trading for equities overall. CEO Snickerdoodle Labs and Co-Founder of the Stanford Future of Digital Currency Initiative, Jonathan Padilla, joined Cheddar to discuss more.
With the record highs in pet ownership in recent months, there is a huge emerging market in pet technology. The new halo collar isn't just a smart collar; it's the next-generation dog safety system. Cheddar News sits down with the co-founders of Halo, Cesar Milan and Ken Ehrman, to discuss.
With no end in sight to supply chain snarls, some companies are reconsidering the way they manufacture goods. Harry Moser, founder and president of Reshoring Initiative and Jennifer Smith, logistics and supply chain reporter for the Wall Street Journal, joined Cheddar News' Closing Bell to discuss some of the ways companies are trying to solve their supply chain problems in the long term.
Bitcoin dipped below $40,000 this week amid a broader slump to begin the year. Some speculate that as cryptocurrencies correlate closer to traditional assets that factors like the Federal Reserve tightening monetary policy will weigh on digital coins. Jalak Jobanputra, managing partner at Future Perfect Ventures, joins Cheddar News' Closing Bell to discuss why crypto markets are feeling pressure from the Fed's potential 2022 rate hikes, broader crypto market predictions, and more.
A.I. startup Fractal has raised $360 million in funding, officially entering the unicorn club. Pranay Agrawal, CEO and Co-Founder of Fractal, joined Cheddar News' Closing Bell to discuss what the company plans to do with the fresh capital.
