Risk, returns & timeframes illustration
1 min read
April 5, 2022
by

A Meta scorned...

Has Meta been reading from the lobbyists’ playbook? 📕 Seems their latest drive to trigger a moral convulsion, targeting TikTok, may have backfired. What happens when it crashes down?
1 min read
April 5, 2022
by

A Meta scorned...

Has Meta been reading from the lobbyists’ playbook? 📕 Seems their latest drive to trigger a moral convulsion, targeting TikTok, may have backfired. What happens when it crashes down?
1 min read
April 5, 2022
by

A Meta scorned...

Has Meta been reading from the lobbyists’ playbook? 📕 Seems their latest drive to trigger a moral convulsion, targeting TikTok, may have backfired. What happens when it crashes down?
Table of contents
Getting Started Investing course
Free Getting Started Course
Take your first, or next, step to becoming a confident investor with Hatch's free online course – just 10 minutes a day, for 10 days.
The Fry up logo with fried egg
Weekly news from Wall St
Subscribe to The Fry Up - your weekly sizzle of headline-grabbing share market news. Read by 60,000 Kiwis to help them take charge of their investing journey.

Oh, Meta (FB). 🤦 When the social media giant Meta announced they were changing their name (and their focus) from Facebook, hopes were high that it would be a fresh start for the company. Like a very hungry caterpillar that transforms into a beautiful butterfly. 🦋

But last week, word leaked that Meta has been caught trying to publicly smear Gen Z social media rival, TikTok, following Frances Haugen’s leaked report revealed Meta’s concerns that teens spent ‘2-3X more time’ longer on TikTok than Instagram. According to The Washington Post, Meta has been paying a political consulting company to place opinion pieces in newspapers across the US. Why? To target parents of teens by promoting ‘dubious stories’ about trends on TikTok and labelling the app as a danger to American society. The Post adding that two of TikTok’s trends originated on Facebook.

With teens ditching Facebook as they fall for new crush TikTok, is Meta behaving like a lover scorned and going for teens by sending a note to their parents? Adding insult to Meta’s injury, TikTok has teamed up with Giphy on a new video creation library just months after Meta was ordered to sell Giphy due to competition concerns. Ded.💀

Rivalry comes with the territory in business. But given Meta has repeatedly been called on to help stop the spread of toxic misinformation and disinformation, planting stories could be seen as a tad… hypocritical? It probably also doesn’t help much with improving Meta’s Environmental Social Governance (ESG) rankings. CNBC says that Meta has plummeted in some ESG rankings, while Sustainalytics, an ESG rating division of Morningstar, ranks Meta 996 out of 1003 software peer companies, just ahead of spectacular tech-fraud Wirecard AG. Perhaps the butterfly is still spreading their wings. The first stop? Meta’s ‘Wendyverse. 🍔

We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.

Join the Kiwis who are hatching their tomorrow and have invested more than $1 billion with Hatch.

Explore another series
Tax
Money
Economy
Investing

More recent news articles

Recent learn articles

7 min read
Apr 16, 2024

Geopolitical pressures wobble big bank’s outlook

Big banks have kicked off quarterly earnings season in the US markets, but JPMorgan CEO Jamie Dimon’s sobering shareholder letter sent the bank stocks tumbling sector-wide last week. But there is still investor optimism in the global financial powerhouses, with stock soars in the past six months that even rival some Big Tech.
Read more
8 min read
Apr 9, 2024

Disney survived a hostile takeover, what have we learned?

Disney beat Nelson Peltz in his battle for boardroom control, ending years of struggles that kicked off during Covid. Retired CEO Bob Iger returned to bring the legacy entertainer back from big losses, but he can’t stay forever. So what happened behind closed doors during the failed hostile takeover?
Read more
7 min read
Apr 3, 2024

Could AI steal your doctor’s job?

Using AI in healthcare may save billions of dollars and save lives. Researchers are developing AI treatments for everything, from cancer and infertility, to schizophrenia and Alzheimer’s. AI language models may even be helping to create new proteins. And Big Tech is all in.
Read more

Related news articles

More recent learn articles

No items found.

Recent news articles

More recent learn articles

7 min read
Apr 16, 2024

Geopolitical pressures wobble big bank’s outlook

Big banks have kicked off quarterly earnings season in the US markets, but JPMorgan CEO Jamie Dimon’s sobering shareholder letter sent the bank stocks tumbling sector-wide last week. But there is still investor optimism in the global financial powerhouses, with stock soars in the past six months that even rival some Big Tech.
Read more
8 min read
Apr 9, 2024

Disney survived a hostile takeover, what have we learned?

Disney beat Nelson Peltz in his battle for boardroom control, ending years of struggles that kicked off during Covid. Retired CEO Bob Iger returned to bring the legacy entertainer back from big losses, but he can’t stay forever. So what happened behind closed doors during the failed hostile takeover?
Read more
7 min read
Apr 3, 2024

Could AI steal your doctor’s job?

Using AI in healthcare may save billions of dollars and save lives. Researchers are developing AI treatments for everything, from cancer and infertility, to schizophrenia and Alzheimer’s. AI language models may even be helping to create new proteins. And Big Tech is all in.
Read more