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    From Stocks to Crypto, a Punishing Six Months for Investors

    From Stocks to Crypto, a Punishing Six Months for Investors

    US Stocks Slip, on Track for 4th Monthly Loss This Year

    US Stocks Slip, on Track for 4th Monthly Loss This Year

    US Consumer Confidence Slumps to Lowest Level in 16 Months

    US Consumer Confidence Slumps to Lowest Level in 16 Months

    U.S. stock indexes book biggest daily drop in over a week despite strong economic data

    U.S. stock indexes book biggest daily drop in over a week despite strong economic data

  • NYSE
    Kohl’s Sale Falls Apart in Shaky Retail Environment

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    Dominion Energy, Inc. (NYSE:D) Sees Significant Drop in Short Interest

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    Thor Industries Shares Decline 2.7% After Expectations of Muted Short-Term Demand

    Thor Industries Shares Decline 2.7% After Expectations of Muted Short-Term Demand

  • NASDAQ
    Walgreens Boots, Salesforce Inc. share losses contribute to Dow’s 233-point fall

    Walgreens Boots, Salesforce Inc. share losses contribute to Dow’s 233-point fall

    Tilray Brands Inc. Cl 2 stock falls Thursday, underperforms market

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    Duck Creek Tech Shares Decline 12% on Wider 3Q Loss, Lower FY22 Rev View

  • OTC
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    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

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    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

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    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

  • TSX
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    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

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    Bitcoin Is Falling: Should You Buy the Dip?

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    CN Rail Stock Is So Undervalued That it’s Absurd

  • News
    From Stocks to Crypto, a Punishing Six Months for Investors

    From Stocks to Crypto, a Punishing Six Months for Investors

    US Stocks Slip, on Track for 4th Monthly Loss This Year

    US Stocks Slip, on Track for 4th Monthly Loss This Year

    US Consumer Confidence Slumps to Lowest Level in 16 Months

    US Consumer Confidence Slumps to Lowest Level in 16 Months

    U.S. stock indexes book biggest daily drop in over a week despite strong economic data

    U.S. stock indexes book biggest daily drop in over a week despite strong economic data

  • NYSE
    Kohl’s Sale Falls Apart in Shaky Retail Environment

    Kohl’s Sale Falls Apart in Shaky Retail Environment

    Delta Pays $10.5 Million to Settle Post Office Allegations

    Delta Pays $10.5 Million to Settle Post Office Allegations

    Dominion Energy, Inc. (NYSE:D) Sees Significant Drop in Short Interest

    Dominion Energy, Inc. (NYSE:D) Sees Significant Drop in Short Interest

    Thor Industries Shares Decline 2.7% After Expectations of Muted Short-Term Demand

    Thor Industries Shares Decline 2.7% After Expectations of Muted Short-Term Demand

  • NASDAQ
    Walgreens Boots, Salesforce Inc. share losses contribute to Dow’s 233-point fall

    Walgreens Boots, Salesforce Inc. share losses contribute to Dow’s 233-point fall

    Tilray Brands Inc. Cl 2 stock falls Thursday, underperforms market

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    Western Digital (NASDAQ:WDC) Shares Gap Down Following Analyst Downgrade

    Duck Creek Tech Shares Decline 12% on Wider 3Q Loss, Lower FY22 Rev View

    Duck Creek Tech Shares Decline 12% on Wider 3Q Loss, Lower FY22 Rev View

  • OTC
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    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    Corus Entertainment 4Q Profit Falls

    Corus Entertainment 4Q Profit Falls

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

  • TSX
    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

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    CN Rail Stock Is So Undervalued That it’s Absurd

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Facebook says Wall Street Journal report allegations are ‘mischaracterizations’

Editorial Staff by Editorial Staff
September 22, 2021
0
Facebook says Wall Street Journal report allegations are ‘mischaracterizations’

In a series of stories called ‘The Facebook Files,’ The Wall Street Journal detailed occurrences when the company admitted to its negative impact on teens, exempted high-profile users from some of its rules, and made changes to its algorithm that made the platform ‘angrier’

Over the last few weeks, The Wall Street Journal published a series of reporting on Facebook FB, -4.16% called “The Facebook Files.” The report detailed occurrences when the social media giant admitted its photo-sharing platform Instagram negatively impacts teen girls’ mental health, allowed a few high-profile users to circumvent some of the platform’s rules and made changes to its algorithm that made Facebook “angrier.”

WSJ’s reporting revealed that Facebook routinely ignored internal research that showed these flaws about the company.

On Saturday, Facebook responded to the reporting in a blog post titled, “What the Wall Street Journal Got Wrong,” and called nearly all of the allegations “mischaracterizations.”

“The truth is that research into the impact social media has on people is still relatively nascent and evolving, and social media itself is changing rapidly. Some researchers argue that we need more evidence to understand social media’s impact on people,” Vice President of Global Affairs Nick Clegg wrote in the post. “Each study has limitations and caveats, so no single study is going to be conclusive. We need to rely on an ever-growing body of multi-method research and expert input.”

Clegg went on to say that these stories “conferred egregiously false motives to Facebook’s leadership and employees.”

WSJ cited internal company documents such as research reports, management presentations and former company executives in its reporting.

The potential negative impacts of social media on mental health are nothing new, as several studies show that time spent on these platforms can disrupt sleep and expose teens to bullying and unrealistic views of other people’s lives. According to internal research from Instagram, it’s especially prevalent among teenage girls.

“Thirty-two percent of teen girls said that when they felt bad about their bodies, Instagram made them feel worse,” the Journal reported. “Teens blame Instagram for increases in the rate of anxiety and depression.”

Last week, MarketWatch outlined what social media companies like Facebook, Twitter TWTR, 1.75% and TikTok are doing to combat mental health issues on their platforms.

On Tuesday, Facebook wrote another blog post touting how many resources it has dedicated to positive change in privacy, security and misinformation. Facebook claims it removed “more than 20 million pieces of false COVID-19 and vaccine content.”

In the past, we didn’t address safety and security challenges early enough in the product development process. Instead, we made improvements reactively in response to a specific abuse. But we have fundamentally changed that approach. Today, we embed teams focusing specifically on safety and security issues directly into product development teams, allowing us to address these issues during our product development process, not after it,” the post read.

Facebook’s stock is down 3.47% today during Monday’s trading, but up 42.18% over the last 12 months compared to a 32.35% gain for the S&P 500 SPX, 1.06% over the same period.

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