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Tech News from Simmons Systems

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A collection of 564 posts

Meta Posts Record $232 Billion Market Value Drop in U.S. History

Meta loses a historic $232 billion in market value following a weak revenue forecast, marking the largest single-day plunge ever recorded in the U.S. stock market. The massive drop surpasses Apple's previous record as the company faces heavy financial losses from its metaverse investments.

LinkedIn Audio Events Launch, French Fines Hit Big Tech, and Startup Funding Surges

Tech giants face new regulatory pressures as France fines Google and Facebook over cookie consent dark patterns, while LinkedIn rolls out interactive audio events. Meanwhile, the startup world sees massive funding rounds across biotech, supply chain software, and global B2B commerce.

Federal Judge Rules in Favor of Meta in Landmark FTC Antitrust Lawsuit

A US district judge rules that the FTC fails to prove Meta currently holds a monopoly, ending the agency's bid to break up the tech giant. The FTC plans to appeal the decision.

Meta Acquires VR Fitness App Creator Within Following Company Rebrand

Meta bolsters its metaverse ambitions by acquiring Within, the Los Angeles startup behind the popular VR workout app Supernatural. The deal aims to expand virtual reality fitness offerings and enhance future hardware.

Facebook Parent Company Rebrands to Meta Amid Metaverse Push

Facebook's parent company officially changes its name to Meta as CEO Mark Zuckerberg shifts focus toward building a virtual reality metaverse. The rebranding follows weeks of damaging public relations crises and internal document leaks.

Facebook Reveals Project Cambria, a Premium VR Headset for the Metaverse

Facebook unveils Project Cambria, a high-end VR headset featuring advanced eye-tracking and mixed-reality capabilities. The premium device arrives next year at a higher price point than the Quest 2.

Facebook Renames Itself Meta to Pursue Virtual Reality Future

Facebook Inc. changes its corporate name to Meta as CEO Mark Zuckerberg shifts the company's focus toward building the metaverse. This rebrand reflects a new emphasis on augmented and virtual reality experiences that connect people across shared digital spaces.

Facebook Whistleblower Haugen Clarifies Stance on End-to-End Encryption

Frances Haugen tells UK lawmakers that a newspaper misrepresented her views on encryption, clarifying that she fully supports open-source e2ee but questions Facebook's closed implementation.

Facebook Misses Q3 Revenue Expectations, Announces AR/VR Reporting Split

Facebook falls short of Q3 revenue estimates due to Apple's privacy changes and pandemic headwinds. The company also announces plans to break out its Reality Labs division as a separate reporting segment next quarter.