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Living with the Samsung Galaxy Z Flip

The Galaxy Z Flip ships with the same “Care Instructions” as the Fold. It’s a five-item list with the following basic points:
Don’t scratch the screen with a pen or fingernail
Don’t stick stuff between the screens when folding
Don’t get it dusty, wet or feed it after midnight
Don’t stick stickers to the screen
Don’t get it near credit cards or your pacemaker
Unlike the last time around, however, these warnings seem to have been included out of an (understandable) abundance of caution. As stated in my hands-on the other day, the Flip feels more solid than the Fold in just about every way, from the folding mechanism to the display, which now sports foldable protective glass.

Samsung Galaxy Z Flip hands-on: This is more like it

A couple of notes before we start here. First, and most importantly, this is a rare 24-hour device loan. Short loan times are not entirely uncommon with high-end products, but a single day is a bit extreme. I’m being upfront about this because:
You can only go into so much depth with limited time.
It’s worth noting what appears to be a bit of caution on Samsung’s part.

My Galaxy Fold display is damaged after a day

This isn’t a case of an early product in limited supply. The Z Flip went on sale today (happy Valentine’s/Sonic the Hedgehog Day to you and yours). If I had to venture a guess, it would be that Samsung is still reeling a bit from fallout from the Fold, which found a number of review devices breaking prior to the product hitting the market.

For all of the downside, however, I would argue that coverage that pushed the company to reinforce the product before actually selling it for $2,000 a pop was ultimately a good things. Besides, as was pointed out to me, most if not all of the faulty Folds went sideways before the 24-hour mark.
See also: the Moto Razr. Reviews of the product have started filtering in a week or so after the product hit the market. Seems the company opted not to give out review units until the product was already available (full transparency: I still haven’t gotten my hands on a review unit). The analogy I keep coming back to is movie reviews. If you don’t see any professional reviews by the time a movie hits theaters, that probably doesn’t bode well for spending $10 of your hard-earned cash.
None of this is an indictment of the Galaxy Z Flip, which so far is proving to be a pretty solid device. It’s more a comment on the optics of it all. Give than the handset is roughly the same price as 150 movies, reviews are all that much more valuable to consumers — many of whom are understandably wary after the category’s rocky start.
It’s a shame, because I’ve been enjoying my time with the Galaxy Z Flip. In many ways, this is exactly the device Samsung’s original foldable should have been. For starters, the form factor just makes more sense. The “why” of the Fold was significantly more difficult to explain to those outside the industry (and frankly, many of those inside it, as well).

Anyone who’s ever used a clamshell phone, on the other hand, will immediately get the Flip. You’ve got a roomy 6.7-inch screen that you can snap shut and stick in your pocket. It’s pretty much as simple as that — it’s just that there was a lot of innovation that had to happen in order to get us back to square one with a larger, uninterrupted touchscreen display.
Also of note is the price. Of course, $1,380 isn’t cheap by practically any measure, but that’s a pretty big drop down from the $2,000 Galaxy Fold. The argument that Fold users should have been extra careful with the device given its price point have always struck me as somewhat counter-intuitive. If anything, a device that price ought to have added safeguards built-in.
The Flip has implemented a number of learnings from the earlier product, namely a glass covering, edges hidden beneath (sizable) bezels and an advanced folding mechanism designed to keep dust and debris out. In fact, this time out, the folding mechanism itself is considered a marquee feature. Per Samsung’s press material:

Inspired by a lotus blossom, the Hideaway Hinge is precisely articulated for a satisfying folding motion — even allowing you to adjust the folding angle. Sweeper technology helps repel dirt and dust to keep your folds as smooth as your style.

That’s a marketing way of saying that it’s a lot harder to get crap trapped behind the screen, which could eventually break it. The folding mechanism is, indeed, a nice step up. It feels more robust than the sometimes floppy Fold. You can keep it open at different configurations, like a 90 degree “L” shape for watching videos.
The biggest downside of the more robust mechanism is that it’s harder to flip open with a single hand, owing to resistance, and it doesn’t have as satisfying a snap shut. Those all seem like pretty minor quibbles, to be honest — especially if it means a more robust product. Samsung rates the Z Flip at 200,000 folds — same as the Fold. Of course, in CNET’s testing, the Fold lasted about 120,000 mechanical folds.

Not terrible, and definitely better than the 27,000 or so the Razr made it through. Also, unlike Motorola’s device, the Flip doesn’t make a troubling creaking sound when it opens and shuts. The Razr really does seem awash in first-generation problems. Motorola can’t be pleased that Samsung introduced a competing device with the same form factor soon after its own product and was able to bring it to market roughly a week after the Razr.
I can’t imagine either of these devices will prove huge sellers for their respective manufactures, but if I was Motorola, the Flip would be cause for concern. The Razr went from an exciting new entry in the foldable category to another strike against it when it was released and both consumer and professional reviews began trickling in.
A little bit of the novelty has worn off for Samsung. That’s honestly not a bad thing. By the second generation, the product should no longer be reviewed as a sort of oddity. Instead, it should be regarded as a, you know, phone. And as such, should be subject to the same sort of regular wear any smartphones go through.
In other words, it’s reasonable to expect that it can withstand, say, a hard press from a finger but not necessarily a five-foot drop onto concrete. Again, this is only after a day of use, but so far, so good on that front, at least.

The 21.9×9 aspect ratio is an odd one. The phone is really tall and skinny. Also, the crease is still very noticeable — that much hasn’t changed. But the Flip looks mostly unremarkable when open. I was using it open on the subway ride home and no one seemed to notice (New Yorkers, amiright?). The Fold, on the other hand, drew curious looks every time I used it. If having strangers notice your expensive new phone is an incentive for spending $1,400, then that’s a downside, I suppose.
There haven’t been too many updates to the Android UI to accommodate the new screen paradigm. The biggest change is the ability to have two windows open in a vertical configuration. There’s also Flex model, which is currently limited to a select number of applications. Open, say, the camera app, bend the phone so it holds at a 90-degree angle and the app will adapt. In this case, the view finder moves up, occupying the top half of the screens while the controls take up the bottom. It’s a cool feature, with the device essentially serving as its own kickstand for things like taking selfies or reading the news.
Utilizing it more broadly is going to require more work on Google’s part — and more adoption from app developers. The latter especially is going to depend quite a lot on how many of these devices are actually sold. For now, YouTube is the one pure video app that utilizes it.

That’s fine, honestly, as turning the device to landscape mode and opening it to about 130 degrees is actually an even better way to watch widescreen video. There are a smattering of other tricks here and there. Holding up a palm in selfie-mode, for instance, let’s you snap a photo without touching a button or using voice.
The Flip is the first Samsung device to bake Google’s Duo video calling directly into the UI. It’s a nice choice, too, since the Flex mode is basically built for video calling. Oh, and to answer the question I’ve been asked the most since the Flip was announced: yes, you can end a call by closing the phone. And yes, it is satisfying to give the person on the other end a tactile snap.
The feature is on by default and can be disabled in the settings menu. It won’t work if you have earbuds in, however, because in many cases you’ll want to be using them to chat while the phone is closed in your pocket.
As for the outside, Samsung’s gone decidedly minimalist. The inclusion of an exterior screen was a big selling point on the Fold, but honestly it was too skinny with too small an aspect ratio to do much. The outside of the device has a glossy mirror finish — black in my case. And yeah, it’s a complete fingerprint magnet.
There’s a one-inch display of sorts on the outside of the Flip, but it’s only large enough for small at-a-glance information like battery life and time. It can also show off notifications, but it’s too small to accomplish much without scrolling. If you’ve ever attempted to read a notification on a hybrid smartwatch, the experience is fairly similar.

The little window is actually a touchscreen. A double tap will turn it on, and from there a swipe with show off information like the music you’re listening to. Attempting to click into an app icon for more information on a notification, however, will prompt you to open the phone for more information. Interestingly, the tiny screen also serves as a view finder. Double-clicking the fingerprint reader/power button will fire it up. It’s okay for getting a rough approximation of what you’re shooting (likely yourself), but is pretty useless beyond that.

Samsung’s flagships get a new level of premium, starting at $1,400

And honestly, I think that’s fine. In fact, I would even go so far as to say I think that’s actually a strength. In an era when so many of us are grappling with smartphone use, there’s something to be said for the ability to snap the device shut and disconnect for a bit. You can keep streaming music or listening to podcasts, but when the phone is closed, it’s time to engage with the world around you.
Or not. I’m not going to tell you how to live.
Hey, it’s your $1,400. There are plenty of other ways to spend that much money, of course. You could also pick up the Galaxy S20 Ultra — the mega premium version of Samsung’s latest flagship. For that price, you get the same-old boring form factor, coupled with some crazy high-end specs, including a 5,000 mAh battery, 12GB of RAM and the latest Snapdragon 865, versus the Flip’s 3,300 mAh, 8GB and Snapdragon 855+.

The Ultra also has an extreme edge on cameras, including a 108-megapixel wide angel, 48-megapixel telephoto, 12-megapixel ultra-wide and a time-of-fight sensor for depth. The Flip, meanwhile, sports a 12-megapixel zoom lens and 12-megapixel super-wide. There’s no competition, but Samsung’s breadth of imaging experience makes for a solid experience regardless.
Again, my time with the device has been limited, but so far I’m pretty satisfied with the combination of hardware an software options. The shots look good and have a nice color balance even in low light. I can’t see myself using Single Take too often, but the ability to get multiple different shot options with a single press could certainly prove useful for amateur photographers.

Perhaps the most notable omission of all is 5G. While it’s true that a number of other companies (*cough* Apple) don’t even offer the option, Samsung introduced a 5G version of the Fold last year (in select markets) and went all in on 5G with the S20 line. It’s clear that the company took feedback over pricing concerns to heart with the Flip. The device is only available in a single configuration, highlighting the gulf between it and the Fold.
Which is to say, it’s still expensive, but that $500 or so makes a difference. So, too, does more robust build and new form factor. I’m recommending you buy the Flip. We’re still very much in the early stages of foldables here. That said, I can wholeheartedly recommend the Flip over the Fold. And while I haven’t really spent time with the Moto Razr, well, that seems like a slam dunk, too. 
Again, if I was Motorola, I would be considering, at very least, a significant price drop. While the Flip likely won’t convince the skeptical that foldables are the future, it should, at very least, be a heartening indication that Samsung is headed in the right direction.

Living with the Samsung Galaxy Z Flip

FTC votes to review influencer marketing rules & penalties

Undisclosed influencer marketing posts on social media should trigger financial penalties, according to a statement released today by the Federal Trade Commission’s Rohit Chopra. The FTC has voted 5-0 to approve a Federal Register notice calling for public comments on questions related to whether The Endorsement Guides for advertising need to be updated.
“When companies launder advertising by paying an influencer to pretend that their endorsement or review is untainted by a financial relationship, this is illegal payola,” Chopra writes. “The FTC will need to determine whether to create new requirements for social media platforms and advertisers and whether to activate civil penalty liability.”
Currently the non-binding Endorsement Guides stipulate that “when there is a connection between an endorser and a seller of an advertised product that could affect the weight or credibility of the endorsement, the connection must be clearly and conspicuously disclosed.” In the case of social media, that means creators need to note their post is part of an “ad,” “sponsored” content or “paid partnership.”
But Chopra wants the FTC to consider making those rules official by “Codifying elements of the existing endorsement guides into formal rules so that violators can be liable for civil penalties under Section 5(m)(1)(A) and liable for damages under Section 19.” He cites weak enforcement to date, noting that in the case of department store Lord & Taylor not insisting 50 paid influencers specify their posts were sponsored, “the Commission settled the matter for no customer refunds, no forfeiture of ill-gotten gains, no notice to consumers, no deletion of wrongfully obtained personal data, and no findings or admission of liability.”

Strangely, Chopra fixates on Instagram’s Branded Content Ads that let marketers pay to turn posts by influencers tagging brands into ads. However, these ads include a clear “Sponsored. Paid partnership with [brand]” and seem to meet all necessary disclosure requirements. He also mentions concerns about sponcon on YouTube and TikTok.
Additional targets of the FTC’s review will be use of fake or incentivized reviews. It’s seeking public comment on whether free or discounted products influence reviews and should require disclosure, how to handle affiliate links and whether warnings should be posted by advertisers or review sites about incentivized reviews. It also wants to know about how influencer marketing affects and is understood by children.
Chopra wisely suggests the FTC focus on the platforms and advertisers that are earning tons of money from potentially undisclosed influencer marketing, rather than the smaller influencers themselves who might not be as well versed in the law and are just trying to hustle. “When individual influencers are able to post about their interests to earn extra money on the side, this is not a cause for major concern,” he writes, but “when we do not hold lawbreaking companies accountable, this harms every honest business looking to compete fairly.”

While many of the social media platforms have moved to self-police with rules about revealing paid partnerships, there remain gray areas around incentives like free clothes or discount rates. Codifying what constitutes incentivized endorsement, formally demanding social media platforms to implement policies and features for disclosure and making influencer marketing contracts state that participation must be disclosed would all be sensible updates.
Society has enough trouble with misinformation on the internet, from trolls to election meddlers. They should at least be able to trust that if someone says they love their new jacket, they didn’t secretly get paid for it.

FTC votes to review influencer marketing rules & penalties

Huawei files patent infringement lawsuits against Verizon Communications

Huawei has filed two patent infringement lawsuits against Verizon Communications in U.S. District Court.
The Chinese telecommunications equipment giant wants Verizon to compensate it for the use of technology it says are covered by 12 Huawei patents, including ones related to networking, security and video communications. Before the lawsuits were filed, Huawei claims it negotiated with Verizon in a series of meetings from February 2019 to January 21, but was unable to reach a license agreement.
(Disclosure: TechCrunch is owned by Verizon Media, a division of Verizon Communications).
Huawei technology is used by telecommunication companies around the world. In a press release about the lawsuits, it says it puts about 10% to 15% of its revenue into research and development each year, and has spent about $70 billion on R&D over the last decade, including about $15 billion in 2018 alone.
This resulted in Huawei receiving more than 80,000 patents around the world, including 10,000 in the U.S.
In its filings, Huawei claims Verizon has “profited greatly” from infringing on its patents, noting that Verizon Communication’s total revenue for its wireline division in 2018 was $29.8 billion.
Huawei maintains a close relationship with many other tech companies, including some competitors, through licenses. It says that it has received more than $1.4 billion in patent license fees since 2015 and in addition to providing access to its own technology, has also paid over $6 billion for licensing patents from other companies, with more than 100 license agreements signed with vendors in the U.S., Europe, Japan and South Korea.
In its press release, Huawei’s chief legal officer Song Liuping said “Verizon’s products and services have benefitted from patented technology that Huawei developed over many years of research and development.”
“For years now we have successfully negotiated patent license agreements with many companies. Unfortunately, when no agreement can be reached, we have no choice but to see a legal remedy,” Song added. “This is a common practice in the industry. Huawei is simply asking that Verizon respect Huawei’s investment in research and development by either paying for the use of our patents, or refraining from using them in its products and services.”
TechCrunch has contacted Verizon Communications for comment.
The patent infringement lawsuit is taking place against the backdrop of Huawei’s legal entanglements with the U.S. government, which claims it is a national security threat, a charge Huawei denies.

The Pentagon pushes back on Huawei ban in bid for ‘balance’

Huawei has been on a U.S. trade blacklist since the last May and is suing the government over what it says is an unconstitutional ban on the use of its products by federal agencies and contractors. Huawei’s technology is used by many telecom companies around the world, however, and its close ties with U.S. supply chains were underscored last month when the Defense and Treasury Departments reportedly put pressure on the Commerce Department over the ban.

Huawei files patent infringement lawsuits against Verizon Communications

Snapchat hits 218M users but big Q4 losses sink share price

Snapchat still isn’t profitable nearly two years after its IPO. In Q4 2019, Snap lost $241 million on 560.8 million in revenue that’s up 44% year-over-year and an EPS of $0.03. That comes from adding 8 million daily users to reach a total of 218, up 3.8% this quarter from 210 million and 17% year-over-year.
The big problem was a one-time $100 million legal settlement that pushed it to lose $49 million more in Q4 2019 than Q4 2018. That comes from a shareholders lawsuit claiming Snap didn’t adequately disclose the impact of competition from Facebook on its business. The IPO was soured by weak user growth as people shifted from Snapchat Stories to Instagram Stories.

A rough Q4
Snapchat had a mixed quarter compared to estimates, exceeding the EPS predicitions but falling short on revenue. FactSet’s consensus predicted $563 million in revenue and a loss of $0.12 EPS. Estimize’s consensus came in at $568 million in revenue and an EPS gain of $0.02.
Snapchat shares plunged over 10% in after-hours trading following the announcement. Shares had closed up 4.17% at $18.99 today. That’s up from a low of $4.99 in December 2018 when its user count was shrinking under competition from Instagram Stories. It’s now hovering around its $17 IPO price but it’s still under its post-IPO pop to $27.09.
Snap gave stronger than expected revenue guidance for Q1 2020 of $450 million to $470 million, and 224 million to 225 million users. The company’s CFO Derek Anderson says that “Q4 marked our first quarter of Adjusted EBITDA profitability at $42 million for the quarter, an improvement of $93 million over the prior year.” Still, he predicts an Adjusted EBITDA in Q1 of negative $90 million to negative $70 million. That’s manageable for Snap without raising more money, since it now has $2.1 billion in cash and marketable securities, down $148 million quarter-after-quarter.

Snapchat 2020
“Throughout the course of 2019, we added 31 million daily active users, largely driven by investments in our core product and improvements to our Android application “said Snapchat CEO Evan Spiegel . “We’ve recently completed our 2020 strategic planning process and have aligned our teams and resources around our goals of supporting real friendships on Snapchat, expanding our service to a broader global community, investing in our AR and content platforms, and scaling revenue while achieving profitability in order to self-fund our investments in the future.”
Some other highlights:
1.3 trillion Snaps were created in 2019
The average Snapchat user engages for 30 minutes per day,
Snapchat reaches 90% of US 13 to 24 year-olds and over 75% of 13 to 34 year-olds
Total daily time spent by Snapchatters watching Discover increased by 35% year-over-year, and its up 60% for users over the age of 25
Over 50 Snapchat shows reached a monthly audience of 10 million viewers or more
75% of users engage with augmented reality per day
20% of Snaps sent with an AR lens were made with commununity-developed lenses
5X more users open the Lens Explorer now versus a year ago, and 10% of users open it every day
Snapchat’s user growth has been on tear thanks to international penetration, especially in India, after it re-engineered its Android app for developing markets. It gained users in all markets. Crucially, it raised its average revenue per user 23% from $2.09 in Q4 2018 to $2.58, though only from $1.24 to $1.35 in the Rest Of World region where it’s growing user count the fastest. Snap will need to figure out how to squeeze more cash out of the international market to offset the costs of streaming tons of video to these users.

Q4 saw Snapchat readying several new products that could help boost engagement and therefore ad views. Cameos, first reported by TechCrunch, lets users graft their face onto an actor in an animated GIF like a lightweight Deepfake. Bitmoji TV, which won’t run ads initially but could drive attention to Snapchat Discover, offers zany four-minute cartoons that star your Bitmoji avatar. We could see a bump to engagement from these starting in Q1 2020.
To retain its augmented reality filter creators, Snapchat has pledged $750,000 in payouts in 2020. It’s also expanded the use of product catalog ads, and now lets advertisers buy longer skippable ads.
Outside of the legal settlement, Snapchat is inching closer to profitability but still has a ways to go. It’s managed to develop a strong synergy between its popular chat feature that’s tougher to monetize, and the Stories and Discover content where it can inject ads. The big question is whether Facebook Messenger, Instagram, and WhatsApp will get more serious about ephemeral messaging that’s at the core of Snapchat. If it can hold onto the market and maintain its place as where teens talk, it could ride out its costs and build revenue until it’s sustainable for the long-term.

Snapchat launches Bitmoji TV: zany 4-min cartoons of your avatar

Snapchat hits 218M users but big Q4 losses sink share price

Facebook hits 2.5B users in Q4 but shares sink from slow profits

Facebook beat Wall Street estimates in Q4 but slowing profit growth beat up the share price. Facebook reached 2.5 billion monthly users, up 2%, from 2.45 billion in Q3 2019 when it grew 1.65%, and it now has 1.66 billion daily active users, up 2.4% from 1.62 billion last quarter when it grew 2%. Facebook brought in $21.08 billion in revenue, up 25% year-over-year, with $2.56 in earnings per share.
But net income was just $7.3 billion, up only 7% year-over-year compared to 61% growth over 2018. Meanwhile, operating margins fell from 45% over 2018 to 34% for 2019. Expenses grew to $12.2 billion for Q4 2019, up a whopping 34% from Q4 2018. For the year, Facebook’s $46 billion in expenses are up 51% vs 2018. One big source of those expenses? Headcount grew 26% year-over-year to 44,942, and Facebook now has over 1000 engineers working on privacy.
While Facebook’s user base keeps growing rather steadily, it’s having trouble squeezing more and more cash out of them with as much efficiency.

Facebook’s Q4 2019 earnings beat expectations compared to Zack’s consensus estimates of $20.87 billion in revenue and $2.51 earnings per share. Facebook shares fell over 7% in after-hours trading following the earnings announcement after closing up 2.5% at a peak $223.23 today. Still, Facebook remains near its previous share price high before this month.
Facebook CEO Mark Zuckerberg had previously warned that addressing hate speech, election interference, and other content moderation and safety issues would be costly. Still, expenses grew and profits shrunk faster than Wall Street seems to have expected. Facebook will have to hope its promise of using scalable AI to handle more of these jobs comes to fruition soon.
But some might see today as the proper reckoning for Facebook — penance for years of neglecting safety in favor of growth. Facebook’s CFO David Wehner confirms it has also just agreed to pay $550 million in a settlement over its violation of the Illinois Biometric Information Privacy Act. The class action suit stems from Facebook collecting users’ facial recognition data to power its Tag Suggestions feature that recommends friends tag you in photos in which you appear. The record-breaking settlement still falls far short of the $35 billion in potential penalties Facebook could have received.

Facebook’s executives are apparently bullish on its value despite the share price being at a peak, as today Facebook announced plans to grow its share-repurchase program by $10 billion, adding to its previous authorization of buying back up to $24 billion worth.
Facebook managed to add 1 million daily users in the U.S. & Canada region where it earns the most money after returning to growth there last quarter following a year of slow or no growth. Facebook’s stickiness, or daily to monthly active user ratio remained at 66% amidst competition from apps like TikTok and a resurgent Snapchat.
Masking The Shift To Instagram
Facebook notes that there are now 2.26 billion users that open either Facebook, Messenger, Instagram, or WhatsApp each day, up from 2.2 billion last quarter. The family of apps sees 2.89 billion total monthly users, up 9% year-over-year.
Facebook released a new stat with this earnings report: Family Average Revenue Per Person. That’s essentially the company’s total revenue divided by total users on Facebook, Messenger, Instagram, and WhatsApp. Clearly, the company is trying to use Instagram’s growing ad revenue to make the rest of the company look stronger. This might help mask changes in the Facebook app’s own revenue as teens look to more youthful content feeds. Wehner confirmed the company will cease sharing Facebook-only stats in favor of Family Of Apps stats in late 2020.
Sadly Facebook’s isn’t calling this metric FARPP

Earnings Call Highlights
Zuckerberg stressed Facebook’s need to stay focused on addressing social issues and consequences of the company’s growth during the earnings call. He said Facebook will continue to make its apps more private and secure.
As for product updates, Zuckerberg seized on opportunities in commerce. Facebook is building out WhatsApp Pay, and he says “I expect this to start rolling out in a number of countries and for us to make a lot of progress here in the next six months.” 140 million small businesses now use its tools. People bought almost $5 million in content on the Oculus Store on Christmas Day, which Zuckerberg called a milestone. He says Facebook’s Spark AR platform is most used of its kind by developers, with hundreds of millions of people experiencing face filters built with it.
Regarding plans to integrate the family’s chat interfaces, Zuckerberg says Messenger, Instagram, and WhatsApp will retain their brands. He also noted they’re already quite integrated on the backend…which could be an attempt to persuade regulators it might be difficult to break up the company.

For guidance, Wehner said “we expect our year-over-year total reported revenue growth rate in Q1 to decelerate by low-to-mid single digit percentage points as compared to our Q4 growth rate. “Factors driving this deceleration include the maturity of our business, as well as the increasing impact from global privacy regulation and other ad targeting related headwinds.”
Wehner says to expect that the worst of these privacy headwinds are still to come due to regulatory initiatives like GDPR and CCPA, mobile operating systems and browser providers like Apple and Google limiting access to ad targeting singals, and Facebook’s own product changes like the new way to disconnect off-Facebook data from your acccount.

On Facebook’s perception issues, Zuckerberg said “We’re also focused on communicating more clearly what we stand for. One critique of our approach for much of the last decade was that, because we wanted to be liked, we didn’t always communicate our views as clearly because we were worried about offending people. So this led to some positive but shallow sentiments towards us and towards the company. And my goal for this next decade isn’t to be liked, but to be understood, because in order to be trusted, people need to know what you stand for.”
Building Despite Scrutiny
The business aside, Facebook had another tough quarter under the scrutiny of journalists and regulators. Democratic presidential candidates have railed against Zuckerberg’s decision to continuing allowing misinformation in political ads. The company dropped out of the top 10 places to work, and pledged $130 million to fund an Oversight Board for its content policies.
The CEO was grilled on Capitol Hill about Facebook’s cryptocurrency Libra that seems stuck in its tracks as major partners like Visa and Stripe dropped out. Facebook took heat for how its treats content moderators and how it tried to cut off competitors from its developer platform. The FTC continued its anti-trust investigation and weighed an injunction that would halt Facebook intermingling its messaging app infrastructure.

But those headwinds didn’t stop Facebook’s march forward. Its four main apps took the top four spots amongst the most downloaded apps of the 2010s. It moved deeper into hardware sales with its new Portal TV attachable camera. It acquired gaming companies like Playgiga and the studio behind VR hit Beat Saber, while signing exclusive game streaming deals with influencers like Disguised Toast. It launched Facebook News, Facebook Pay, its dating feature in the US, and it tested a meme-making app called Whale.
Facebook’s share price remains near an all-time high despite today’s tumble. While the world may be increasingly uncomfortable with Facebook’s access to private data, there’s no debate about how incredibly valuable that data is.

Facebook hits 2.5B users in Q4 but shares sink from slow profits