Today’s Top 3 are all about social networks. Yes, the massive companies that we share our lives with, day in and day out. Let’s start with Facebook.
Facebook, like Amazon, is not thrilled with the new U.S. antitrust boss: Lina Khan’s appointment as the head of the U.S. Federal Trade Commission (FTC) is causing waves among the largest tech companies in the world. Amazon demanded that she recuse herself from regulating its business.
Facebook is now making similar noises. In short, the tech giants think that her prior criticism of their business practices is disqualifying. This is at once risible and notable; that a regulator has a perspective about, well, regulation seems more like a qualification than a disqualifying fact.
Facebook is also willing to buy creator love: Sticking to the Facebook world for a moment, the company announced a $1 billion fund that will be paid out to digital creators who produce work that lives on its platforms. The dollar amount is what we should pay attention to here; Facebook is willing to pay up for the sort of attention that TikTok has managed to accrue for free.
Twitter is killing Fleets: The final bit of Hot New Social Media News is that Twitter is killing off its little-loved stories feature called Fleets. First, read the TechCrunch story, then enjoy this fine tweet and this utterly perfect subheadline.