AB InBev profit up sharply on Brazil, SABMiller savings

Anheuser-Busch InBev, the world’s largest beer maker, reported higher profit than expected in the fourth quarter as Brazil rebounded and savings flowed in from its 2016 purchase of SABMiller. The brewer of Budweiser, Stella Artois and Corona said on Thursday it expected that revenue and core profit (EBITDA) would grow strongly in 2018, with revenue per hectolitre rising by more than inflation and costs by less. Core profit (EBITDA), the result most watched by the company and markets, rose by 21


Anheuser-Busch InBev, the world’s largest beer maker, reported higher profit than expected in the fourth quarter as Brazil rebounded and savings flowed in from its 2016 purchase of SABMiller. The brewer of Budweiser, Stella Artois and Corona said on Thursday it expected that revenue and core profit (EBITDA) would grow strongly in 2018, with revenue per hectolitre rising by more than inflation and costs by less. Core profit (EBITDA), the result most watched by the company and markets, rose by 21
AB InBev profit up sharply on Brazil, SABMiller savings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, sabmiller, revenue, expected, brazil, worlds, fourth, ebitda, billion, quarter, sharply, profit, strongly, savings, watched, inbev, ab


AB InBev profit up sharply on Brazil, SABMiller savings

Anheuser-Busch InBev, the world’s largest beer maker, reported higher profit than expected in the fourth quarter as Brazil rebounded and savings flowed in from its 2016 purchase of SABMiller.

The brewer of Budweiser, Stella Artois and Corona said on Thursday it expected that revenue and core profit (EBITDA) would grow strongly in 2018, with revenue per hectolitre rising by more than inflation and costs by less.

Core profit (EBITDA), the result most watched by the company and markets, rose by 21 percent on a like-for-like basis in the fourth quarter to $6.19 billion, above the average forecast in a Reuters poll of $6.03 billion.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, sabmiller, revenue, expected, brazil, worlds, fourth, ebitda, billion, quarter, sharply, profit, strongly, savings, watched, inbev, ab


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Facebook says it gave ‘nudges’ to children to get them to communicate using Messenger Kids

Facebook says getting children to communicate on its Messenger Kids app took nudging, even though experts they consulted for the product say kids are ready to use such mobile software. The National PTA is among a group of organizations Facebook cited in support of Messenger Kids that also received funding from the company. It allows parents to control who their kids communicate with using the app. We worked to create Messenger Kids with an advisory committee of parenting and developmental expert


Facebook says getting children to communicate on its Messenger Kids app took nudging, even though experts they consulted for the product say kids are ready to use such mobile software. The National PTA is among a group of organizations Facebook cited in support of Messenger Kids that also received funding from the company. It allows parents to control who their kids communicate with using the app. We worked to create Messenger Kids with an advisory committee of parenting and developmental expert
Facebook says it gave ‘nudges’ to children to get them to communicate using Messenger Kids Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: john shinal, getty images
Keywords: news, cnbc, companies, mobile, gave, groups, communicate, messenger, nudges, using, kids, product, national, parents, children, facebook, group


Facebook says it gave 'nudges' to children to get them to communicate using Messenger Kids

Facebook says getting children to communicate on its Messenger Kids app took nudging, even though experts they consulted for the product say kids are ready to use such mobile software.

When Facebook was testing Messenger Kids before rolling it out in December, the company found “It was hard for kids to initiate the communication,” said Tarunya Govindarajan, the manager who built the product, to an audience gathered in Washington for the company’s Global Safety Network Summit. “We wanted to give them nudges to start the conversation,” she said.

So along with a visual chat feature and video content, Facebook built “kid-friendly effects” into the product, including augmented-reality photo filters like “stickers, masks and frames” to encourage kids to use it, Govindarajan said Thursday.

That suggests many children within that age group are not as ready to use mobile communications software as some have argued.

For example, Sean Arthurs, senior manager of education initiatives for the ‎National Parent Teacher Association, said at the same event that the group’s research found 80 percent of children ages eight to 13 were using mobile communication devices.

“Ninety percent of kids have access to a phone or tablet and two-thirds have their own device,” Arthurs, calling the results of the group’s survey of 1200 parents “consistent with other research” about kids’ usage habits.

The National PTA is among a group of organizations Facebook cited in support of Messenger Kids that also received funding from the company.

Facebook introduced the mobile application for iPhone and iPad users in December and an Android version is now available in the Google Play Store.

There’s no advertising in the product and it does not require users to open a Facebook account. It allows parents to control who their kids communicate with using the app.

Yet a group of child-advocacy groups in January asked the company to discontinue it, citing multiple studies showing that heavy social media use had negative mental health effects on teens and adolescents.

When CNBC asked Facebook last month if it planned to continue the product, the company replied in an email that read in part:

“Since we launched in December we’ve heard from parents around the country that Messenger Kids has helped them stay in touch with their children and has enabled their children to video chat with fun masks. We worked to create Messenger Kids with an advisory committee of parenting and developmental experts, as well as with families themselves and in partnership with National PTA. We continue to be focused on making Messenger Kids be the best experience it can be for families.”


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: john shinal, getty images
Keywords: news, cnbc, companies, mobile, gave, groups, communicate, messenger, nudges, using, kids, product, national, parents, children, facebook, group


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Venture capitalist Alan Patricof calls Facebook and Google addictive, ‘virtual monopolies’

The incredible influence that Facebook and Google have in society needs to be examined by regulators, said Alan Patricof, co-founder of the venerable Greycroft venture capital firm. “There’s an outcry clearly,” Patricof told CNBC’s “Squawk Box.” Google is addictive. I think people are becoming very sensitive of that,” said Patricof, who’s been a venture capitalist for four decades. “I don’t think they’re deliberately pushing the news in one direction … or the other,” Patricof said.


The incredible influence that Facebook and Google have in society needs to be examined by regulators, said Alan Patricof, co-founder of the venerable Greycroft venture capital firm. “There’s an outcry clearly,” Patricof told CNBC’s “Squawk Box.” Google is addictive. I think people are becoming very sensitive of that,” said Patricof, who’s been a venture capitalist for four decades. “I don’t think they’re deliberately pushing the news in one direction … or the other,” Patricof said.
Venture capitalist Alan Patricof calls Facebook and Google addictive, ‘virtual monopolies’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: matthew j belvedere
Keywords: news, cnbc, companies, think, companies, theyre, virtual, google, addictive, told, capitalist, venture, calls, monopolies, patricof, facebook, users, alan


Venture capitalist Alan Patricof calls Facebook and Google addictive, 'virtual monopolies'

The incredible influence that Facebook and Google have in society needs to be examined by regulators, said Alan Patricof, co-founder of the venerable Greycroft venture capital firm.

“There’s an outcry clearly,” Patricof told CNBC’s “Squawk Box.” It’s worth exploring “what they’re crowding out” in terms of would-be competitors, he added.

“Facebook is addictive today. Google is addictive. They’re virtual monopolies. I think people are becoming very sensitive of that,” said Patricof, who’s been a venture capitalist for four decades. “While they’re tech companies and they are part of the commercial system, they are difficult to wean off of.”

Patricof is certainly not alone in criticizing Facebook and Google. Salesforce CEO Marc Benioff recently told CNBC they should be regulated like tobacco companies that also produce addictive products. Former Google design ethicist Tristan Harris and former Facebook investor and adviser Roger McNamee started a new group to fight what they call the “existential threat” of tech addiction.

To be fair, Patricof said, Facebook has been responsive to the backlash over the addictive nature of the platform and the ease of which it was exploited by the Russians in the 2016 presidential election. He did not mention how he feels about any remedies for Alphabet-owned Google.

In explaining a decline in daily active users in the U.S. and Canada in the fourth quarter, Facebook said it made changes, including a crackdown on viral videos, which reduced the amount of time users spent on the social network by 50 million hours a day in the quarter, or 5 percent.

Facebook has also pledged to double its 10,000-person safety and security staff by the end of 2018 to try to avoid a repeat of any bad actors using the platform to influence elections.

“I don’t think they’re deliberately pushing the news in one direction … or the other,” Patricof said. “It’s a natural phenomenon that when you got literally billions of … people on this every day. It’s tough no matter how good your technology is to police every single comment coming up.”

“I think CSR, corporate social responsibility, is something that is becoming front and center. And I think the gun issue has brought that up,” he said. “I think we’re going to see companies becoming much more responsive to their public.”

Greycroft, with offices in New York and Los Angeles, invests from two funds with a total of $559 million. It also has more than $1 billion in assets under management. Some of the companies that Greycroft has backed include news organizations Axios and the Huffington Post, consumer bulk product shipper Boxed and cook-at-home service Plated.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: matthew j belvedere
Keywords: news, cnbc, companies, think, companies, theyre, virtual, google, addictive, told, capitalist, venture, calls, monopolies, patricof, facebook, users, alan


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Facebook said it won’t separate the News Feed after all

Facebook won’t split the News Feed into two after all. The social media site said Thursday it was ending testing of the change, which would have pushed publisher content onto a second feed away from posts by family and friends. “People don’t want two separate feeds,” Adam Mosseri, Head of News Feed, said in a blog post. “In surveys, people told us they were less satisfied with the posts they were seeing, and having two separate feeds didn’t actually help them connect more with friends and family


Facebook won’t split the News Feed into two after all. The social media site said Thursday it was ending testing of the change, which would have pushed publisher content onto a second feed away from posts by family and friends. “People don’t want two separate feeds,” Adam Mosseri, Head of News Feed, said in a blog post. “In surveys, people told us they were less satisfied with the posts they were seeing, and having two separate feeds didn’t actually help them connect more with friends and family
Facebook said it won’t separate the News Feed after all Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: sara salinas, jaap arriens, nurphoto, getty images
Keywords: news, cnbc, companies, separate, mosseri, feed, friends, feeds, worse, posts, facebook, zuckerberg, site, wont, social


Facebook said it won't separate the News Feed after all

Facebook won’t split the News Feed into two after all.

The social media site said Thursday it was ending testing of the change, which would have pushed publisher content onto a second feed away from posts by family and friends.

“People don’t want two separate feeds,” Adam Mosseri, Head of News Feed, said in a blog post. “In surveys, people told us they were less satisfied with the posts they were seeing, and having two separate feeds didn’t actually help them connect more with friends and family.”

Users in the six test markets — Bolivia, Cambodia, Guatemala, Serbia, Slovakia and Sri Lanka — reported separating the feed made it harder to find important information, Mosseri said.

Facebook has made made several tweaks to the News Feed in recent months after revealing extended time spent on the app put users in a worse mood.

CEO Mark Zuckerberg said the site would promote “meaningful social interactions” by ranking posts between friends and real connections higher than posts by publishers or pages.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: sara salinas, jaap arriens, nurphoto, getty images
Keywords: news, cnbc, companies, separate, mosseri, feed, friends, feeds, worse, posts, facebook, zuckerberg, site, wont, social


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Iran-based hacking group expanding spying operations in Middle East

Security experts have further traced a number of subsequent attacks back to Iran, including hacks on Saudi, American and South Korean companies. In February, Saudi Foreign Minister Adel Al-Jubeir told CNBC that Iran was “the most dangerous nation” for cyber threats. “Iran is the only country that has attacked us repeatedly and tried to attack us repeatedly,” Al-Jubeir said. “In fact, they tried to do it on a virtually weekly basis.” It did not respond last month to a request for response to Al-J


Security experts have further traced a number of subsequent attacks back to Iran, including hacks on Saudi, American and South Korean companies. In February, Saudi Foreign Minister Adel Al-Jubeir told CNBC that Iran was “the most dangerous nation” for cyber threats. “Iran is the only country that has attacked us repeatedly and tried to attack us repeatedly,” Al-Jubeir said. “In fact, they tried to do it on a virtually weekly basis.” It did not respond last month to a request for response to Al-J
Iran-based hacking group expanding spying operations in Middle East Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: saheli roy choudhury, hadley gamble
Keywords: news, cnbc, companies, operations, east, aljubeir, traced, training, saudi, group, repeatedly, iranbased, iran, turak, weekly, spying, expanding, tried, virtually, hacking, middle


Iran-based hacking group expanding spying operations in Middle East

Security experts have further traced a number of subsequent attacks back to Iran, including hacks on Saudi, American and South Korean companies. Iran has not commented on those accusations.

In February, Saudi Foreign Minister Adel Al-Jubeir told CNBC that Iran was “the most dangerous nation” for cyber threats.

“Iran is the only country that has attacked us repeatedly and tried to attack us repeatedly,” Al-Jubeir said. “In fact, they tried to do it on a virtually weekly basis.”

He added that Saudi Arabia is taking “all the steps necessary” to defend itself and training its people to “be able to engage in offensive operations to make it hopefully impossible for people to penetrate those systems.”

The Iranian government has previously denied accusations of cyber-aggression. It did not respond last month to a request for response to Al-Jubeir’s comments.

— CNBC’s Natasha Turak contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: saheli roy choudhury, hadley gamble
Keywords: news, cnbc, companies, operations, east, aljubeir, traced, training, saudi, group, repeatedly, iranbased, iran, turak, weekly, spying, expanding, tried, virtually, hacking, middle


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Food delivery start-up DoorDash is raising $535 million from Softbank and other investors

DoorDash last raised money in 2016, when the company pulled in $127 million. The Wall Street Journal reported at the time that the valuation was $700 million after the company failed to raise funds at its desired $1 billion price tag. The goal is “to make DoorDash the last-mile logistics platform in every city,” Xu said. Like Uber, DoorDash has its own staff of developers and operations people and employs contractors to deliver food. As for SoftBank’s investment in both Uber and DoorDash, Xu put


DoorDash last raised money in 2016, when the company pulled in $127 million. The Wall Street Journal reported at the time that the valuation was $700 million after the company failed to raise funds at its desired $1 billion price tag. The goal is “to make DoorDash the last-mile logistics platform in every city,” Xu said. Like Uber, DoorDash has its own staff of developers and operations people and employs contractors to deliver food. As for SoftBank’s investment in both Uber and DoorDash, Xu put
Food delivery start-up DoorDash is raising $535 million from Softbank and other investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: ari levy
Keywords: news, cnbc, companies, food, uber, invest, company, startup, million, raising, xu, platform, funds, softbank, technology, restaurants, doordash, investors, 535, delivery


Food delivery start-up DoorDash is raising $535 million from Softbank and other investors

DoorDash last raised money in 2016, when the company pulled in $127 million. The Wall Street Journal reported at the time that the valuation was $700 million after the company failed to raise funds at its desired $1 billion price tag.

DoorDash CEO Tony Xu told CNBC that the new capital will enable the company to work with more restaurants, invest in technology that lets restaurants integrate the DoorDash technology on their own websites and mobile apps, and expand geographically from 600 to 1,600 cities in the U.S. and Canada this year.

The goal is “to make DoorDash the last-mile logistics platform in every city,” Xu said.

Like Uber, DoorDash has its own staff of developers and operations people and employs contractors to deliver food. Xu said there are over 250,000 so-called dashers on the platform. The company plans to grow from 550 employees to about 800 this year, he said.

This Vision Fund’s Jeff Housenbold, a director at Grab and Munchery, is joining DoorDash’s board. Sequoia Capital, an existing DoorDash backer, and Singapore’s GIC also invested in the round.

As for SoftBank’s investment in both Uber and DoorDash, Xu put a positive spin on it:

“The best investors always invest in winners in a category,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: ari levy
Keywords: news, cnbc, companies, food, uber, invest, company, startup, million, raising, xu, platform, funds, softbank, technology, restaurants, doordash, investors, 535, delivery


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RBS says Irish border issue is key in bank’s post-Brexit future

“We are working on the basis, we are working towards a March 2019 timetable until we know otherwise and it’s not just the issue of Amsterdam for us (RBS decided to move its European business to Amsterdam to be able to continue to operate in Europe), we’ve also got a very big banking operation in Ireland and the biggest banking operation in Northern Ireland so the nature of the border between Northern Ireland and Ireland is also an important issue to us in terms of what we have to structurally do


“We are working on the basis, we are working towards a March 2019 timetable until we know otherwise and it’s not just the issue of Amsterdam for us (RBS decided to move its European business to Amsterdam to be able to continue to operate in Europe), we’ve also got a very big banking operation in Ireland and the biggest banking operation in Northern Ireland so the nature of the border between Northern Ireland and Ireland is also an important issue to us in terms of what we have to structurally do
RBS says Irish border issue is key in bank’s post-Brexit future Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: silvia amaro, joumanna bercetche, charles mcquillan, getty images
Keywords: news, cnbc, companies, issue, future, ireland, postbrexit, northern, working, banking, rules, amsterdam, irish, idea, operation, eus, key, rbs, banks, border


RBS says Irish border issue is key in bank's post-Brexit future

“We are working on the basis, we are working towards a March 2019 timetable until we know otherwise and it’s not just the issue of Amsterdam for us (RBS decided to move its European business to Amsterdam to be able to continue to operate in Europe), we’ve also got a very big banking operation in Ireland and the biggest banking operation in Northern Ireland so the nature of the border between Northern Ireland and Ireland is also an important issue to us in terms of what we have to structurally do,” Stevenson said.

On Wednesday, the EU’s chief negotiator Michel Barnier said that Northern Ireland should remain under EU rules after Brexit, adding that the “backstop” agreement for this had been reached back in December.

However, May’s coalition ally in Northern Ireland, the Democratic Unionist Party (DUP), has expressed its opposition against this idea and threatened to revoke its support in parliament.

Also on Wednesday, Prime Minister May seemed to have shifted her position arguing that the leader of the U.K. could never agree with the EU’s idea, which would keep Northern Ireland under the union’s rules.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: silvia amaro, joumanna bercetche, charles mcquillan, getty images
Keywords: news, cnbc, companies, issue, future, ireland, postbrexit, northern, working, banking, rules, amsterdam, irish, idea, operation, eus, key, rbs, banks, border


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European markets: Fed comments, earnings, mergers, data

The pan-European Stoxx 600 was 0.3 percent off with most sectors in negative territory. Media stocks were the top losers in early trade on earnings. WPP fell nearly 8 percent, hitting the bottom of the European benchmark, after announcing lower net sales in 2018 and a cautious 2018. On the other hand, AB InBev rose 5 percent and pushed the entire food and beverages sector higher. Across the European benchmark, Cobham was the top gainer, up by 13 percent after reporting a pretax profit in 2017, a


The pan-European Stoxx 600 was 0.3 percent off with most sectors in negative territory. Media stocks were the top losers in early trade on earnings. WPP fell nearly 8 percent, hitting the bottom of the European benchmark, after announcing lower net sales in 2018 and a cautious 2018. On the other hand, AB InBev rose 5 percent and pushed the entire food and beverages sector higher. Across the European benchmark, Cobham was the top gainer, up by 13 percent after reporting a pretax profit in 2017, a
European markets: Fed comments, earnings, mergers, data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: silvia amaro
Keywords: news, cnbc, companies, markets, higher, european, sectors, earnings, benchmark, trade, profit, stoxx, comments, stocks, territory, data, wpp, fed, mergers


European markets: Fed comments, earnings, mergers, data

The pan-European Stoxx 600 was 0.3 percent off with most sectors in negative territory. Media stocks were the top losers in early trade on earnings. WPP fell nearly 8 percent, hitting the bottom of the European benchmark, after announcing lower net sales in 2018 and a cautious 2018.

On the other hand, AB InBev rose 5 percent and pushed the entire food and beverages sector higher. The company reported Thursday a higher than expected profit in the fourth quarter.

Across the European benchmark, Cobham was the top gainer, up by 13 percent after reporting a pretax profit in 2017, after having registered a loss in the previous year.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: silvia amaro
Keywords: news, cnbc, companies, markets, higher, european, sectors, earnings, benchmark, trade, profit, stoxx, comments, stocks, territory, data, wpp, fed, mergers


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15,000 internet-connected devices could be hacked to mine $1,000 of cryptocurrency in 4 days

Vulnerable internet-connected devices from security cameras to smartphones can be hijacked by hackers and turned into tools to mine cryptocurrencies, a cybersecurity company has demonstrated. Avast, which is based in the Czech Republic, ran a demonstration on Wednesday at Mobile World Congress in Barcelona, Spain, which had a number of devices running on a network powering a cryptocurrency mining software. Mining is the process of verifying transactions on a cryptocurrency network by solving com


Vulnerable internet-connected devices from security cameras to smartphones can be hijacked by hackers and turned into tools to mine cryptocurrencies, a cybersecurity company has demonstrated. Avast, which is based in the Czech Republic, ran a demonstration on Wednesday at Mobile World Congress in Barcelona, Spain, which had a number of devices running on a network powering a cryptocurrency mining software. Mining is the process of verifying transactions on a cryptocurrency network by solving com
15,000 internet-connected devices could be hacked to mine $1,000 of cryptocurrency in 4 days Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: arjun kharpal, chesnot, getty images
Keywords: news, cnbc, companies, turned, number, 1000, days, vulnerable, cryptocurrency, network, world, internetconnected, verifying, based, devices, hacked, 15000


15,000 internet-connected devices could be hacked to mine $1,000 of cryptocurrency in 4 days

Vulnerable internet-connected devices from security cameras to smartphones can be hijacked by hackers and turned into tools to mine cryptocurrencies, a cybersecurity company has demonstrated.

Avast, which is based in the Czech Republic, ran a demonstration on Wednesday at Mobile World Congress in Barcelona, Spain, which had a number of devices running on a network powering a cryptocurrency mining software.

Mining is the process of verifying transactions on a cryptocurrency network by solving complex mathematical problems with high-powered computers. Bitcoin is very difficult to mine without having a super computer, but another cryptocurrency called monero can be done with a network of internet-connected devices.

Avast couldn’t get 15,000 devices onto its hacked network, but based on the tests it did run, it said that it would need that number of internet-connected gadgets to mine $1,000 of cryptocurrency in four days.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: arjun kharpal, chesnot, getty images
Keywords: news, cnbc, companies, turned, number, 1000, days, vulnerable, cryptocurrency, network, world, internetconnected, verifying, based, devices, hacked, 15000


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Twitter’s CEO just admitted the platform has problems, and he’s asking for help to fix them

Twitter co-founder and CEO Jack Dorsey took to Twitter on Thursday to admit that the platform, in its current implementation, has problems. And he’s asking for help to fix it. In other words, Twitter has found itself in a bit of a Catch-22. Dorsey also said Twitter wants additional help and is opening a request for proposals (RFP) in an effort to discover new ideas on how it can improve the platform. Firms picked to work with Twitter will get “public data access” and “meaningful funding for thei


Twitter co-founder and CEO Jack Dorsey took to Twitter on Thursday to admit that the platform, in its current implementation, has problems. And he’s asking for help to fix it. In other words, Twitter has found itself in a bit of a Catch-22. Dorsey also said Twitter wants additional help and is opening a request for proposals (RFP) in an effort to discover new ideas on how it can improve the platform. Firms picked to work with Twitter will get “public data access” and “meaningful funding for thei
Twitter’s CEO just admitted the platform has problems, and he’s asking for help to fix them Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: todd haselton, teresa kroeger, getty images
Keywords: news, cnbc, companies, hes, words, platform, admitted, twitter, firms, conversations, dorsey, work, ceo, working, help, fix, asking, twitters, problems


Twitter's CEO just admitted the platform has problems, and he's asking for help to fix them

Twitter co-founder and CEO Jack Dorsey took to Twitter on Thursday to admit that the platform, in its current implementation, has problems. And he’s asking for help to fix it.

“We have witnessed abuse, harassment, troll armies, manipulation through bots and human-coordination, misinformation campaigns, and increasingly divisive echo chambers,” Dorsey said. “We aren’t proud of how people have taken advantage of our service, or our inability to address it fast enough.”

Dorsey said Twitter has tried to fix issues by removing content that doesn’t meet its use terms but that, in doing so, has been “accused of apathy, censorship, political bias, and optimizing for our business and share price instead of the concerns of a society.”

In other words, Twitter has found itself in a bit of a Catch-22. Dorsey said Twitter now needs to “help encourage more healthy debate, conversations, and critical thinking,” and is working with two independent firms, Cortico and Social Machines, to try to learn how to better gauge the conversations taking place on Twitter.

Dorsey also said Twitter wants additional help and is opening a request for proposals (RFP) in an effort to discover new ideas on how it can improve the platform. Firms picked to work with Twitter will get “public data access” and “meaningful funding for their research,” Dorsey said.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: todd haselton, teresa kroeger, getty images
Keywords: news, cnbc, companies, hes, words, platform, admitted, twitter, firms, conversations, dorsey, work, ceo, working, help, fix, asking, twitters, problems


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