Meta Owned Instagram and Facebook Plagued With Pedophile Networks And Its Algorithms Are Not Helping: Report
Portfolio Pulse from Anusuya Lahiri
Meta Platforms Inc (NASDAQ:META), owner of Instagram and Facebook, is facing challenges with child-safety on its platforms. Despite establishing a task force and removing problematic content, Meta's algorithms continue to inadvertently promote pedophile networks. The Wall Street Journal and the Canadian Centre for Child Protection reported that Instagram's algorithms connected accounts sharing underage sex content. Facebook Groups also have issues with content sexualizing children. Meta is working on enhancing tools to limit these connections and targeting forums that attract such activity, but safety staff layoffs due to cost cuts have impacted progress. META shares were down 0.54% in premarket trading.
December 01, 2023 | 1:59 pm
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Meta Platforms Inc faces significant child-safety issues on Instagram and Facebook, with algorithms promoting pedophile networks despite efforts to curb such content. The company's safety staff layoffs may hinder progress in resolving these issues.
The news about Meta's platforms being associated with pedophile networks and the company's struggle to manage these issues is likely to negatively impact investor sentiment and the public's trust in Meta. This, coupled with the premarket stock price decline, suggests a negative short-term impact on META's stock. The layoffs in safety staff, including child-safety specialists, could further impede Meta's ability to address these problems effectively, potentially leading to regulatory scrutiny and damage to the company's reputation.
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IMPORTANCE 90
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