Matt Klinman on How Facebook is Ruining Online Creativity
Matt Klinman is a comedian who has been working in comedy for companies like Funny or Die for years. Recently, the comedy site had to lay off many people in their video department. Klinman spoke with Cheddar about the reason many media companies are laying off social video departments and how these companies can refocus their goals to leave Facebook behind.
Klinman discusses the idea that companies need to change directions to focus more on long format and veer away from social video in order to survive the changes made online. He also discusses the idea that Facebook has created centrally designed internet that is basically ruining online creativity.
Klinman argues that this model is bad for all publishers, including Facebook itself. He also asserts that it's basically impossible to run a large independent creative outfit on the internet now and says publishers should leave Facebook or attempt to organize to get leverage to get Facebook to pay them.
Credit Suisse’s shares have soared 30% after it announced it will move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central bank.
Melissa Armo, founder and owner of The Stock Swoosh, joined Cheddar News to discuss Wednesday's session as stocks closed down amid concerns over a banking crisis and ahead of next week's Fed meeting.
Caleb Silver, editor-in-chief of Investopedia, joined Cheddar News to explain the risks in the banking sector after the recent turmoil with Silicon Valley Bank and the news that Credit Suisse's biggest backer said it wouldn't provide further financial help.
T-Mobile has entered into an agreement to acquire the parent company of Mint Mobile, a direct-to-consumer prepaid wireless company partially owned by actor Ryan Reynolds.
