Good morning, Austin! We have scrolled the internet to bring you the latest in tech news. Here are the latest headlines:
Zuckerberg: People are spending 50 million fewer hours on Facebook a day
Mark Zuckerberg warned in January that radical changes he's making to return Facebook to its roots connecting friends and family would curtail how much time people spend there.
He was right. Those changes that got underway last quarter are already hitting engagement numbers, reducing time users spend on Facebook by 5 percent, as the giant social network shows people fewer viral videos.
"In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day," Zuckerberg said, in announcing the social media company's fourth-quarter results that topped Wall Street expectations.
Wall Street isn’t worried. Multiple analysts raised their price targets for the stock, noting that the changes won’t affect revenue growth or Facebook’s ability to make money off its users.
Twitter, Craigslist Co-Founders Back Fact-Checking Startup Factmata
Twitter co-founder Biz Stone and Craigslist co-founder Craig Newmark are investing in London-based fact-checking startup Factmata, the company said Thursday.
Factmata aims to use artificial intelligence to help social media companies, publishers and advertising networks weed out fake news, propaganda and clickbait. The company says its technology can also help detect online bullying and hate speech.
Founded last year, the company is one of a growing number of big technology firms, startups and non-governmental organizations aiming to combat the spread of fraudulent news stories on digital platforms.
eBay ditches PayPal for Dutch payment provider Adyen
PayPal shares fell as much as 12 percent in after-hours trading on Wednesday after former parent company eBay said it had signed up a new primary payment processor.
EBay said it will start processing payments globally using Dutch payments company Adyen, allowing its users to remain on the eBay website when checking out.
PayPal said eBay shoppers will still be able to select PayPal as a form of payment until at least July 2023. The news from eBay came as PayPal reported quarterly earnings that beat Wall Street estimates but gave a disappointing outlook for the first quarter.
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