Good morning, Austin! It’s been a newsy week for the tech industry. Here are some of the stories we’re following today:
Facebook fatigue: Nearly half of young users have deleted the app from their phone in the last year
Are younger users suffering from Facebook fatigue?
A new survey shows that the social media network’s year of scandals is driving young users away from the platform -- at a much higher rate than expected.
Pew surveyed more than 3,400 U.S. Facebook users in May and June, and found that a whopping 44 percent of those ages 18 to 29 say they've deleted the app from their phone in the last year. Some of them may have reinstalled it later.
Meanwhile, Facebook is facing financial headwinds as well, Bloomberg reports.
With its shares still languishing following its $121 billion one-day rout in July, Facebook needs to show that it can jump-start earnings growth to restore faith with investors who have been reluctant to buy, analysts and shareholders say.
"Facebook hasn’t built confidence in anybody," Ross Gerber, chief executive officer of Gerber Kawasaki Wealth & Investment Management, said by phone. "They’ve done a very poor job at dealing with problems."
Other stories we’re watching today:
The Twitter repeatedly rejected any intentional bias from Twitter in a monotone voice — while Democrats attacked Republicans' allegations in far more strident terms.
Kurian, who reports to executive chairman and chief technology officer Larry Ellison, has been in charge of software development, as well as taking Oracle's own technology to the cloud.
Consumer DNA testing company 23andMe is testing whether users want far more information about their health for a steeper fee.
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