This year, Mark Zuckerberg created a larger umbrella company for Facebook’s dealings outside of the social media platform. Outside of the press release, one can always argue that a new company name divests Facebook from its sketchy history as… well, Facebook. On paper, the company will tell you that it’s for product diversification purposes. Facebook changes the metaįacebook has its own reasons for creating a new company. The case is still ongoing, but its effects are already palpable. Though the documents never revealed anything that the world didn’t know about yet, Haugen strengthened the case against the platform especially in the public eye.
Those documents implicated Facebook in a host of accusations from fomenting toxicity among teenagers to destabilizing whole countries overseas. Throughout the year, she worked with a nonprofit whistleblower firm to facilitate the reveal of internal Facebook documents. That is, until a single whistleblower renewed the fight against Facebook.Īs a part of Facebook for a few years, Haugen was exposed to the numerous problems inside the company. While courts have already demanded testimony from Mark Zuckerberg, the company is still standing. The American government has persistently tried to catch the social media network on anti-competition and privacy charges. Frances Haugen takes on Facebookįacebook has been under the scrutinous eye of the law for a while now. Either way, social media has a lot to atone for. Social media is woefully (and perhaps tardily) enacting anti-misinformation measures to prevent unsubstantiated and biased claims from spreading like wildfire.
Getting people to vaccinate is still an unbearable problem today. More and more people willfully chose the comfort of Facebook posts over scientifically proven medicine. After its stint in politics, misinformation plagued the healthcare world casting misplaced doubts over currently available COVID-19 vaccines. presidential elections.Īnd it didn’t stop there. At the start of the year, a wave of misinformation sparked an insurrection movement in the United States following the U.S. However, the phenomenon reached new heights right when the world needed correct and accurate information the most. Such is the story of misinformation.Īnyone who’s been on the internet in the last five years is privy to the spread of misinformation. It showed how an idea, presented the correct way to the correct audience, can spread uncontrollably and uproot all other ideas. GameStop showed more than just the volatility of the stock market. And though non-traders won’t really care about it, the issue was just the first of many that plagued fintech. The entire controversy was a saga on its own. Even fintech apps, like Robinhood, which allowed regular people to buy and sell stocks on their own, was forced to limit how people bought the stock. The stock ballooned to ridiculous proportions in a short span of time, causing the market to effectively stop further trading. Thousands of Reddit-borne buyers fooled the market into thinking that yes, GameStop was indeed undervalued. And it couldn’t paint a more accurate picture of what the forum has single-handedly done.īack in January, a r/WallStreetBets heavily laid on the speculation that GameStop, a game retailer in the United States, had its stock undervalued and buying would be the best investment option today. “Like 4chan found a Bloomberg terminal.” This is how the subreddit currently describes itself. And no one saw it coming, except for a little corner of Reddit called r/WallStreetBets. Though it didn’t spark as much talk outside of those who already have some knowledge of trading, the sudden meteoric rise of GameStop’s stock market value heralded a year’s worth of change coming to finance and fintech. The year started with one of the largest bangs that the stock market has seen in a long time. In all their glory, here are the top tech news of 2021. But it’s not all bad the year has also seen a few new trends popping up. Now, once the industry has moved past the pandemic’s height, more of the struggles have come to roost. Different companies across different markets have struggled to cope with declining sales and demand. Last year, the height of the coronavirus pandemic shifted how the world thought about technology and the companies running the show.
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