Big tech wants more metaverse, Zuckerberg gets sued…again, Snap plunges while Google audiences innovate, and believe it or not—people still don’t want to be in the office. Listen for more.
- The metaverse is coming whether you like it or not. Kawasaki is a new customer for Microsoft’s “industrial metaverse” — factory floor workers will wear a HoloLens headset to help with production, repairs, and managing supply chains. Guess what? VR isn’t a gimmick!
- Crypto-focused venture firm NGC Ventures launched a new ecosystem fund dedicated to Web3 projects, underscoring heightened investor demand for startups contributing to the development of a decentralized internet. So far, Babel Finance, Huobi Ventures, Nexo Ventures, Altonomy, and GBIC have contributed $100M to the fund.
- Meta takes a big step forward for the company’s public image problem. The company said it will give outside researchers more detailed information on how political ads were targeted across its platform, providing insight into how politicians, campaign operatives, and political strategists buy and use ads ahead of the midterm elections.
- The District of Columbia, represented by Attorney General Karl Racine, filed a lawsuit against Meta’s Chief Executive Officer for his alleged role in the data breach that allowed political consulting firm Cambridge Analytica to target Facebook users during the 2016 presidential election.
- Snap shares plunged 30% in extended trading on Monday after CEO Evan Spiegel warned employees that the company will miss its own targets for revenue and adjusted earnings. The news hit the online advertising market hard, sending other social media giants tumbling after hours.
- A civil lawsuit alleges a former Yahoo employee stole valuable intellectual property when he downloaded approximately 570,000 pages of proprietary source code, ad placement algorithms, internal strategy documents, and more upon securing a job offer from The Trade Desk, a direct competitor of Yahoo’s advertising technology arm.
- Advertisers will soon have an option to use connected television campaigns to target viewers through audience segments across YouTube and most other connected TV (CTV) apps. This brings affinity, in-market and demographic audience segments to connected TVs through Google Audiences.
- A PricewaterhouseCoopers survey of more than 52,000 workers in 44 countries indicates the Great Resignation continues. In a press release, the consulting firm said higher pay, more job fulfillment, and wanting to be “truly themselves” at work are the factors pushing workers to change jobs.
- Hybrid work data shows people don’t want to spend much time in the office. So, it’s no surprise nearly half of office visits this year are for once a week, according to a Bloomberg article.