social media is an - meta. social media is an industry— meta. an industry plagued with exactly the same problem. as many of you may— the same problem. as many of you may be aware, we are in a litigation — you may be aware, we are in a litigation with tiktok right now _ litigation with tiktok right now. ,, . , litigation with tiktok right now, ,, ., , ., , litigation with tiktok right now. ,, ., , ., , ., ., . now. states are trying to force meta to change _ now. states are trying to force meta to change features. - now. states are trying to force meta to change features. this | meta to change features. this lawsuit, the biggest of its kind so far.— kind so far. that was my colleague _ kind so far. that was my colleague michelle - kind so far. that was my| colleague michelle fleury kind so far. that was my - colleague michelle fleury for reporting from new york on meta. a number of other tech companies have released their quarterly results early on. let's run you through some of the ones that are coming in. google's parent company has reported an

of the meta supervisory council.ur request is how to understand and be convinced that your council is an independent council, while one of the members of this council is a former official of the israeli ministry of justice, whose role was to fight against palestinian content on facebook and other meta company platforms. is this council that you are a member of, an independent council? each member of the supervisory board is completely independent and we express our own ideas and even disagreements completely freely. but i only mentioned one former israeli official whom i know we are talking about it, i know it well, however, if there is any concern about our neutrality, rest assured that we never take sides with facebook, so how can we assure users that you act independently , this former official of the ministry the israeli judiciary, which has played a role in the fight against palestinian content, is a member of your council. if the situation were the other way around, and a former arab or palestinian official who

this is not singling out meta. - just the start. this is not singling out meta.l just the start. this is not - singling out meta. social media is an industry, it is played with exactly the same sort of problem, as many of you may be aware we are in litigation with tiktok right now.— tiktok right now. with this case, tiktok right now. with this case. the _ tiktok right now. with this case, the states _ tiktok right now. with this case, the states are - tiktok right now. with this case, the states are trying | tiktok right now. with this i case, the states are trying to force meta to change features that they could pose a danger to teenagers. this lawsuit, the biggest of its kind so far. that was my colleague michelle fleury reporting from new york on meta, which reports its results later this week. but a number of other tech companies have released their quarterly results earlier today. let's run you through some of them. google's parent company alphabet has reported an 11% revenue growth in the quarter ending september. that's the first time in over a year that t

of their final report to the management of meta .da serresor is a palestinian-american civil activist of that broad political activities madani in america and is famous for his calls to protect the rights of muslims in this country . in 2017, his name was included in the list of 100 influential people in the world. on meta platforms, he wrote an article in english about facebook's policies in aman nomad. as an american activist of palestinian origin, i have had many experiences on facebook. i have a public page where i publish all my personal content . whenever there is content about issues such as climate justice or racial justice, my content with it gets widespread attention, but when i publish an article about palestine or republish articles about palestine, even before the recent events in sheikh al-jarrah, al-aqsa mosque in gaza, and jenin in the west bank, i witnessed that these articles are rarely seen on facebook. it seems that facebook uses an algorithm to delete comments or publish content or delete content from users' time

stellar quarterfor meta.tinued on the momentum that really started next quarter, and there are certainly challenges ahead stop the middle east were being one of them. you have advertisers, particularly those who are very risk averse, who i may be more reluctant to spend because the situation is so volatile, so unpredictable, and that could impact meta's cu for ad revenues. meta says it has already calculated this in two it's 04 guidance so it will be interesting. looking atjust 03 it was a great quarter for the ad business and a big story for that was ai in terms of usage and ad revenues. d0 that was ai in terms of usage and ad revenues.— that was ai in terms of usage and ad revenues. do you think now concerns _ and ad revenues. do you think now concerns about _ and ad revenues. do you think now concerns about mark - now concerns about mark zuckerberg's costly bet on the metaverse have gone away? ida. zuckerberg's costly bet on the metaverse have gone away? no, i think people — metaverse have gone away? no, i

meta, there's no blemishes whatsoever on this quarter or the guide. it was just a cautious commentary it will matter at some point it's up 141% on the year that's why you got to let some of the froth out let all the panic selling be done with. i'll be back in if the stock falls materially from here. >> yeah. you let us know. i appreciate you coming on we had to hear from you today given your history with meta i mentioned we have brad gerstner joining us, the al tim met ter founder and ceo. another person we had to hear from, brad, today because let's remind people as well as i hold this in my hand a year ago on october 24th is when you wrote that famous letter to mark zuckerberg which you said he, quote, i'm sharing an open letter encouraging meta to streamline and focus its path forward. too many people, too many ideas too little urgency, the lack of focus you write and fitness is obscured when growth is easy but deadly when growth slows and technology changes you lost the confidence of investors. have they gained the confidence back have you >> abso

we are at another inflection point right now. >> you own meta.ink about the amazon report after the bell with owning meta? >> it makes we nervous what can you do? i was trying to explain this to my daughter last night it is really hard. they had revenue up 34% and stock down 3%. it's all that anticipation there is too much in the mega caps up 50% they are all trading at valuations that are six multiple points or more ahead of the other 493 stocks in the market there is a disconnect in valuation. >> i want to get to the mystery chart. we are talking about verizon came off earnings a few days ago. what has you liking this stock right now in a higher rate environment? >> so much room for error. they have 8% dividend yield and trading seven times earnings they were up 9% after the earnings call. all they did was say we will raise free cash flow guidance and lower cap x. the consumer is competitive, but not as bad you know what the earnings will grow at here 2% a year for the next couple years. dividend will grow i2% a year. when you see that and 9% g

in september 2020, bayes international consulting company published a report on the policies of meta, the owner of facebook, regarding content related to palestinians , which was the first report of its kind. the results of this research are based on a direct research from meta and it was his staff and he condemned facebook for deleting thousands of pages and content related to palestinians. especially since facebook did not take any action against the content published by the israelis. this background report raised questions about the policies of this large company and the extent of its control over the content published or banned on this platform . the rules of the rules are determined by a team that no one knows. we are talking about the team that sets the rules and regulations that control the content on the facebook platform. i call it the largest country in the world in terms of numbers i know the crowd. we are about more than two billion people. we talk this is the next chapter of our service. in this research, makhfi azam's team decided to directly and independently investigat

meta similar tomorrow. i think meta is probably a little better than google even.nd, yeah, should be a good start to the earnings season from the internet advertising stall warts here. >> when we initiated this morning. this is a very interesting long-term story. there's a great need i think for an intermediary in this advertising sector. we talked about google and meta and amazon and you can throw tiktok or a few other massive platforms in there. they take about 85% of the revenue from the internet advertising sector. but only something like a third of the total time spent. so, it really serves that remaining sort of quadrant or two thirds, more than a qu quadrant. i think there's a great need for this. it's sort of like data targeting and ai to those that don't have the spending capacity of the googles and the amazons and metas of the world. i think it's a very intriguing story. >> the top pick. rob, thanks so much for all your time today. we appreciate it. >> thank you. >> rob sanderson. >> every time i think trade desk i think of capital markets but it's digita

when it comes to meta specifically, though, scott, we are looking at meta in the rear-view lens we expecthear ad revenue last quarter looked good, a very similar story that layering a.i. has become incredibly efficient in helping to -- however, it's hard to look through the lawsuit pending on algorithms and the impact on children we have seen filed in 41 states. when we think about taking the existing modeling, layering a.i. on top of it, that gets called into question. what we have to stash looking for is below the surface can we monetize whatsapp, can you monetize chat through large language models? is it less than 20 years into the future we really are calling into question, you know, where meta goes from here, in light of some of these recent calls out against ilalgorithms and how they affect families i know, but the stock is up at is 00% year to date, right what's there to be so cautious about? it's not like we haven't had regulatory bluster around this company specifically and the entire mega cap university, and for the most part it's never impacted any of these stocks in any meanin

what's your take on meta? that meta has really demonstrated that they can continue to reinvent itself. that being said, you can see consumers in businesses being very tenltstive with rmt to spending, sort of a snap result. i do think a lot of the snap stocks can be priced to perfection, at least for the time being. >> jason katz, it is really great to have you here. thank you very much. i'm going to call you the baron of boring the next time you're on. appreciate it. >>> taking a quick look at futures, seeing a bit of a reversal. now we're seeing another reversal, the dow back in the green, looking like it would open 25 points higher. the nasdaq remains under pressure, following the results from alphabet. meta also lower in the premarket. the stocks moving in opposite directions by beating top and bottom estimates. microsoft reporting an increase thanks to its cost-cutting efforts with azure growth accelerating after two year declines. alf fa bet, its first double-digit increase. it will come in $21 billion be

this is not singling out meta.ial media is an industry, it is plagued with exactly the same sort of problem — as many of you may be aware, we are in litigation with tiktok right now. with this case, the states are trying to force meta to change features that they could pose a danger to teenagers. this lawsuit, the biggest of its kind so far. that was my colleague michelle fleury reporting from new york on meta, which reports its results later this week. but a number of other tech companies have released their quarterly results earlier today. let's run you through some of them. google's parent company alphabet has reported an 11% revenue growth in the quarter ending september. that's the first time in over a year that the company has posted growth in double digits — bolstered mainly by advertising revenue. but its cloud business had missed analysts�* expectations, sending shares down about 6% in after—hours trading. microsoft's cloud services, on the other hand, had boosted the company profits. its revenue grew 13%

we saw that meta platforms did not react quickly to the attack against ukraine last year. giving and witnessing the change of its policies, its adaptation to the conditions, we witnessed in 2011 it interacted with arabic content, especially palestinian. one of the witnesses about this development is ashraf zeitoun, the former director of facebook's public policies in the middle east and north africa region between 2014 and 2017. so, tell us how facebook deals with anti-israeli content that is published by palestinians, arabs, or even in the international arena ? in fact, it is a central point in the interaction of facebook in late 2016, in which israel threatened and applied the new law to the companies that own social networks. very heavy financial penalties are applied against companies that speed ​​to the demands presented by israel and specifically by the ministry of justice. this regime does not respond according to the contents of the palestinians, the contents that israel considers to be anti-semitic and inciting hatred. that stage was the beginning of the end of fa

meta is one of those platforms. at mikmak, around 85% of the pay grade we see goes through -- pay brand we see goes through meta. yet a big area is retail most of meta is not to snap and pinterest and tiktok come it is amazon, target, walmart. we will see how that plays out in earnings later today. sonali: can the holiday season save these companies? >> i don't think so. what we have seen in mikmak's data this year's there has been a 17% decline in the average basket size. that really has to do with inflation. consumers are spending but they are being more selective and they are willing to trade down right now. i believe that is going to translate into the holiday season. sonali: rachel tipograph of mikmak, thank you. coming up, more to expect on amazon's earnings and preview for intel's earnings after the bell. speaking of chips, watching shares of a south korean memory chip maker fall in the most any year after reporting a larger than expected loss. mornings coverage ahead. this is "bloomberg." ♪ it's easy to get

when meta say they have — rabbit holes. when meta say they have put _ rabbit holes. say they have put tools in - rabbit holes. when meta say they have put tools in place, j they have put tools in place, what have they done to try to prevent that from happening? yeah, instagram has a lot more restrictions now in terms of the content that you see. they have a heavy—handed moderation approach. i had a story come out a couple of weeks ago about how aggressive their moderation has been. a lot of anti—bullying teachers. look, there's always more work to be done. i certainly would not defend instagram on a lot of things, but i do think the way these lawmakers are talking about social media is worrying, because let's not forget, social media is a lifeline for a lot of young people. it's a way they connect and learn about the world. to cut that off is a little bit worrying. i don't think that is intention, we will debate it again, but thank you. one of donald trump's former allies has told a court that his ex—boss would "arbitrarily" inflate his net worth. michael cohen once

meta about 800 thousand posts with hamas content deleted.viously, sequoy x, or the former twitter , had deleted accounts related to hamas in support of the zionist regime and under the pretext of publishing zionist news. sound. these rockets and missiles in the conflict between the palestinian resistance front and the occupation regime of quds quickly appeared in cyberspace. the publication of such images and the support of the users for the palestinian people in recent days did not go well with the american social media managers, and these networks deleted many of the contents published in this regard. since i posted about palestine, my content will be deleted. as bloomberg news agency wrote. meta company, the owner of instagram, whatsapp and facebook platforms, has removed about 800 thousand content from its pages with this claim. if content related to hamas spreads online , it is known as terrorist content. it is illegal and should be according to the rules. be omitted. but this is not the first time meta has removed posts about palestini

in this research, we tried with the decision makers at meta, the owner of facebook. let's do an interview on instagram and whatsapp to inform them about the research results and ask them serious questions. but our requests were met with inattention and delay. finally , we contacted the competition council on facebook, which was established by this company, and we were able to interview one of their members. an interview that was not completed. these are the words of one of the former officials of facebook. if we don't focus only on palestine and look at the whole world, we will see that this company has similar policies, for example, kashmir. this company has strong relations with the indian government content published by the people of kashmir acts as an occupied region. if we go to myanmar, we will see what happened to cervingia. facebook did not remove provocative content against rohingya before the forced migration and killings against them. on the other hand, in ukraine, we see that facebook's interaction is completely opposite and it treats the russian army as

so they're measurably higher the question comes up, why own meta deepwater, we do own meta. the reason to own it, they have a lock in terms of reach that no other advertiser can get we talked about how many people use it and separately they're doing it in a more profitable way than they did three years ago and i think that is -- those are positives that i think you put the final filter on top of this which is valuation. i think it lines up attractive everything wasn't perfect. we can talk about reality labs, that's still a sore point for me but how i see it. >> to oversimplify what you just said, is it about growth or efficiency why does someone own the stock. >> for growth and ultimately the efficiency piece will tap out. i think margins will go from 40% in september to probably 42%, but eventually they're just going to keep the margins at that level has to come to growth, where are you going to get the growth from i do believe a.i. will take some of these content tools more easy to bill content. i believe in the economy instagram is one example of that and separately i thi

i was surprised to see the surprise action in meta. thought the results they posted were decent with the pull back we are seeing in markets, particularly in the nasdaq, they were not immune to t that >> meta had a 150% runup this year any sign of weakness and the stock will go down it was a good report card. headline results beat. revenue up 23% year over year. mark zuckerberg's year of efficiency also paying dividends. net income up 160% operating margins up 40% highest in two years the core ad business is strong as well. there were positives signs with reels and threads. the guidance of the current quarter upset investors and that was the weakness in the armor of meta it was about the guidance and the midpoint was below estimates. susan lee talked about softer ad spend. that spooked investors they needed a strong prind >> . >> what is your take could amazon turn things around today? >> we had the negativity from alphabet and then we heard worries of guidance from meta. it is not just about q3, but investors looking forward thinking i

where meta fits into the a.i. space. >> to support other a.i. products the midpoint of its spending outlook is below wall street estimates, guys. >> so, the market is reacting negatively to this was this report as disturbing as the market seems to make it? >> no, because the advertising business is booming. the tiktok competitor is performing better, kind of the standard format on instagram, so all of these engines are humming right along. it's really similar to what be heard from staff the day before, where this is an uncertain environment as war breaks out in the middle east. >> steve, thanks very much. >>> chip stocks and software nair are getting hit kristina partsinevelos has more. >> as steve point ed out, investors are worried for less revenue. all three companies, nvidia is almost 20% below its 52-week high, but the reaction may be overdone in september, meta highlighted plans to spend on over 60,000 graphic profits, gpus, and given there's currently a backlog, meta may have to be forced to push out the sp

meta conocÍa que instagram utiliza algoritmos. esta es la demanda.os reportes y documentos que seÑalan que meta conoce que instagram es adictiva. se eleva la cifra a 42 estados contra el gigante de las redes sociales. ellos le mintieron a los padres, ustedes, a todos. esa adicciÓn a instagram que quizÁs usted nota en su hijo es creado por la propia empresa. >> marta entiende que esto podrÍa tener efectos dentro de su casa, pero mientras esto pasa prefiere evitar el riesgo. >> no les doy el telÉfono. cuando se lo doy se lo doy un ratito, pero estoy monitoreando quÉ estÁn viendo. >> desde meta el dueÑo de facebook e instagram dice estar decepcionado con la demanda, en vez de trabajar con empresas del industria para crear estÁndares claros los fiscales han elegido este camino, dijeron en un comunicado, pero hasta dÓnde puede llegar la acciÓn de los fiscales? tomando en cuenta todos los niÑos que usan instagram en estados unidos las sanciones acumuladas podrÍan ser mayoritaria. >> ellos saben lo que estÁ naciendo con respecto a sus preguntas mÁs adictiva

part of my job is to represent the people of israel within meta. kotler, who was previously netanyahu's adviser, said that if we learn about content that violates israeli laws, we will limit access to that content. the removal of posts with anti-zionist content has also happened on the american x platform. lapid, the head of one of the parliamentary parties of this regime , asked segheko of social networks such as ikmeta and telegram to remove the contents related to hamas in these networks. due to the spread of false information on american social networks, according to the evidence , fatemeh sharifi, sedavasima's reporter, turned a blind eye to him. in the name of god, color, in the name of god, color, in the name of god, light, light, in the name of god, light upon light , in the name of god, light upon light , in the name of god, light upon light, in the name of god, light. al-nur is from al-nur and the light has come down on allah, the great, allah is the great , allah is the great, god is the great, i testify that there is no god but allah. i

what else are you asking of meta? me start with a threshold concern related to the federal child online privacy protection act. meta, under federal law, cannot and should not be marketing to young people, collecting data without parents awareness or consent. they are doing just that. meta has identified young people 11, 12-year-olds as an untapped and valuable audience, and engage in behavior in violation of federal law. we are bringing this federal action under that law. moreover, they have said at meta , don't worry, there is no harm from the platform. by their internal research tells us otherwise. it tells us they know young people are losing sleep, are facing addictive behavior that takes them down dark holes. these tools can and in some cases may even be valuable. but in the mainstream, and in the overwhelming cases that we know about, young people are hurting. this platform is responsible for that harm. i need to do more. stephanie: i have a preteen, and i have to ask this, why just target meta, and not other po

stuart: is meta your favorite big tech sock?is one of them and microsoft at the moment is the other favored big tech stock that's going on right here because of how they've been doing in cloud growth and, obvious, how they're monetizing a.i. e. we're seeing a separation between companies that talk about and making a.i. stuart: how did microsoft talk about monetizing a.i.? what are the results of hair investment in a.i.? did they come out with it yesterday? >> yeah, they did. they talked about what's going on, their azure growth is driving a.i. adoption, and they're embedding it in every aspect, co-pilot, you're using it in applications, in teams, all your other apps that they use in microsoft, and you're seeing that drive some monetization is. stuart: look, i own a thin sliver of microsoft, and it's going to come out and trade today to at $345. do you have a target price above 345? >> yep, 380 is the target price, and part of the reason is because they're going to be one of the players that are going to survive in terms of the a

. >> el fiscal general de california inter pone una demanda contra meta. >> el ciudadano.uamos,la adicciÓn que usted nota en sus hijos serÍa creada por la empresa meta. la responsabilidad de usar tecnologÍa poderosa para atrapar niÑos y adolescentes serÍa una de las razones para que se entable este proceso. el fiscal de california sostuvo que no se detendrÁn hasta que meta termine con estas prÁcticas. buscan atrapar a jÓvenes y adolescentes. >> tenemos reportes y documentos que indican que meta conocÍa que instagram es adictiva. esto eleva la cifra. el sol emitieron a los padres, a ustedes, a todos. marta entiende que se desarrollara en tribunales. ninguno de sus hijos tiene celular. en vez de trabajar con empresas los fiscales generales han elegido este camino. las sanciones civiles podrÍan ir de 1000 a $50,000 tomando en cuenta todos los niÑos que usan instagram las sanciones acumuladas podrÍan ser millonarias. en pÚblico echan mentiras sobre eso y nosotros estamos diciendo que basta. la investigaciÓn concluye que estÁn asociados con el insomnio. estarÍan contribuyendo a

final report to meta's management.da serresor is an american civil activist of palestinian descent. he has extensive civil political activities in america and is known for his calls to protect the rights of muslims in this country. his name was included in the list of 100 influential people in the world in 2017. those relationships he has a wide relationship with a number of political figures around the world, even when he wrote an article about the rights of palestinians on meta platforms in english, he was a symbol of facebook's policies. as an american activist of palestinian origin, i have had many experiences on facebook. i have a public page where i publish all my personal content . whenever there is content about issues such as climate justice or racial justice , my content receives widespread attention. it is possible, but when i publish an article about palestine or articles about palestine before the recent events sheikh al-jarrah, gaza al-aqsa mosque and jenin in the west bank, i witnessed that these content

it's not a meta thing. >> i'm so glad >> meta, to your point, jim, and i did speak to three people who own the stock and have for some time they're contention is that was a great quarter. everything was largely positive. you did scare some people because of the commentary around the ad market. you gave a wide range, which perhaps also sort of, again, in terms of where things may end up for guidance i'm told, by the way, in the callbacks, after the call typically then they'll call around and sort of call back to some accounts and the like they said things are already turning a bit. not dissimilar to what we heard from snap, saying there was a dislocation a bit during the beginning of the war maybe things are coming whback a bit. operating margins amazing. the discipline or the belief they had the discipline in spending still in place, and if revenues were to sort of moderate, they would be disciplined again. >> that's their strategy >> a different day to your point. i think many people would say, granted they own the stock, that this stock would be higher, not lower. >> i don't think th

[habla en inglÉs] jorge: 41 estados el distrito de columbia demandaron a meta por crear adicciÓn y demÁsÑos y adolescentes. el gobierno de israel intensificÓ el bombardeo en la franaja de gaza. tenemos el testimonio de una raiden liberada por hamas. ♪ locutor: este es noticiero univision. ilia: por primera vez en aÑos, trump y su abogado cohen se vieron las caras en un acorde. jorge: cohen acusa a su ex jefe de hacerle agrandar su patrimonio. ilia: blanca rosa vilches estuvo en la corte. blanca: la vez que se vieron fue hace cinco aÑos y ahora dejaron claro su ahora famosa enemistad. " es mentiroso y busca tener un mejor trato para Él". " no es una pelea entre cohen y trump sino de rendir cuentas. mi credibilidad no debe ser cuestionada". >> quien fue ante el congreso y testificÓ que es trump aumentaba el valor de las propiedades para conseguir prÉstamos y reducia el valor de las mismas propiedades para los impuestos. blanca: cÓmplices y ahora testigo , ahora ante el juez cohen advirtiÓ que habÍa metido al congreso cuando afirmo que sÓlo hablÓ con el expresidente sobre el proyecto de la

we've seen nice reports from microsoft, nice records from meta meta guided there might be some problem, and you will see that, yeah, if you're not in line or meet expectations, ute get punished i think that shows you the market is jittery, and how bick of a portion they are. their run-up happened when we thought interest rates would be declining now. we thought congress would be under -- and the new leadership there, which might be taking us toward a shutdown. so a different environment now, and people are starting to rethink some of the down market cap run-ups, and what will happen it's different from the world we lived in even three months ago. >> lots of questions about valuation. i want you to hear what brad of altimeter told me on "halftime report" today. >> you're going to see a reversion to the mean in the short run. you know, i told you, we've taken our risks from 93% to 48% in that exposure we anticipated this was going to be choppy. i don't think you can say these are frothy in fact we've seen multi-pan compression, not multiple expansion. >> he makes a good point, does he no

which is all about the meta-universe. keenan here with the latest earnings from meta-and you get a round up of the stories you need to know to get your day going in today's edition of daybreak. bloomberg subscribers go to dayb also available in mobile on the bloomberg anywhere at. you can customize your settings so you only get the news on the industries and assets that you care about. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh the chase ink business premier card is made for people like sam, who make- everyday products, designed smarter. like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! with 2.5% cash back on purchases of $5,000 or more. plus unlimited 2% cash back on all other purchases. and with greater spending potential, sam can keep making smart ideas- a brilliant reality! the ink business premier card

and meta and microsoft and google. they're all taking this approach and right now it's very chat based. but i'm really interested in the future of perceptual ai because i look at vr and ar. it's kind of a scary, weird, fascinating territory because any other sensory data, any big data set could be applied to ai. does that, you know, health data, other things . so we think about chats, but think about any other ways that data sets could could be used for this to disrupt or maybe to go in directions we don't know, both exciting and scary at the same time. >> scott stein, thank you so much. >> yeah, thank you. >> after the break, we're talking air travel, including some low cost carriers that just announced new flights in the bay area, as well as deals to be thousands of women with metastatic breast cancer, are living in the moment and taking ibrance. ibrance with an aromatase inhibitor is for adults with hr+/her2- metastatic breast cancer as the first hormonal based therapy. ibrance plus letrozole significantly delayed d

. >>> california joining in a new legal action against meta. harm that dozens of states say that inflicted. >>> and tonight, the warriors tip off against the phoenix suns and the start of the nba season. coming up, a closer look at what fans can expect tonight. and an update on who will be hitting the courts. >>> micro climate weather certified most magnitude earthquake centered near menlo park. if you happen to feel it, let us know. i just posted on twitter as well. taking a look is he seismic graph, you can see a little bit of the jolt, 2.6, menlo park, along the peninsula. it's so early to see if there's any damage at this time, a 2.6 but it will be interesting to see who actually felt this. >>> right now at 11:00 for you, california joins dozens of states following lawsuits against meta claiming that the social media company is hurting children's state mental health. the state attorney general is joining others to announce that lawsuit just more than an hour ago. meta is the parent company of facebook, whatsapp and instagram. that new lawsu

you have it as well in the joe t. >> listen, i'm somewhat concerned with meta. i think it is kind of stretched. i'm also concerned when we look into 2024 what the spending ultimately might be. i am not inclined to add here to meta and as i said at the top of the show i think we are down to the magnificent 5. that is troubling for me from a technical perspective. >> did you have a question for katy quickly >> i do, scott great katie is on the show today. so many people are looking at the charts and realizing 4200 is a significant level in the s&p 500. back to june 1st that is exactly where this market broke out through the month of june, through the month of july. how should we think about the significance of closing below 4200 and in addition to that how do you think about a second consecutive close below the 200 day moving average when does it become validated and relevant for technical purposes >> before you answer that we are literally right at 4200 as you give your answer to joe and our viewers. i'll just preface your answer with that. >> i would say we have

when it comes to digital advertising, it's meta and google when it comes to meta, they are growing much faster than youtube is 23% revenue growth, fastest pace in two years and we also heard a lot from mark zuckerberg about how a.i. isn't the future they are improving their ad results. it's driving increase in engagement both for facebook and for instagram thanks to the benefits of a.i. he laid out how a.i. will continue to boost their results going forward. >> meantime, reels, have they neutralized tiktok >> they have reels for a while was a popular thing that was a headwind to revenue growth because they were not making money on reels as they were in other formats they said for the first time this quarter reels is neutral and going forward it will be a tailwind and benefit them. it is a turning point and reels being an advantage for them. >> and driving engagement. >> and big win in terms of ad revenue. >> wppr, shares are down a bit more cautious commentary out of the overall ad community is that a liability for amazon >> the thing about amazon is that it's growing its ad business of

meta is also facing accusations that it's been shadow banning pro—palestinian content.ty of a user's account or their content on the platform. but that usually happens when a user has fallen foul of the community guidelines. meta earlier this week did acknowledge that there was a bug affecting their stories feature. those are those posts that only last 2a hours. and in a statement, they said this bug affected accounts equally around the globe and had nothing to do with the subject matter of the content. they also said that they fixed that bug as soon as possible but this isn't the first time that they faced accusations of shadow banning pro—palestinian content. in fact, last year, the model bella hadid made similar claims about her own content that was pro—palestinian. and even before that, in 2021, when meta was facing similar allegations, it asked for an independent review of its moderation of the conflict that year. and this is what that review found. it found that meta's actions did have an adverse human rights impact on the rights of palestinian users to freedom of

and meta is expect odd grow at 20%.nd the real comparison is meta reels is a $10 billion business. they have three exit over the last 12 months. investors want to know what's going won youtube and it's going to drive that top line growth. and on the cloud side, the good thing with google cloud is they don't have a legacy business where, you know, google cloud is going to cannibalize the business. and i think if they give any details around the licensing of their models, that will be quite interesting. caroline: there was a lot of hand-wringing about well, the competitive threat that pay be coming from bing finally. have they managed to shake off any anxiety that search is going to be upended here? >> search is one business that has still the strongest mode and granted, they got trafficking, the 100 million users but when you electric the ad revenue, i don't think it's going to make a dent for now and over time, look, google has the advantage that they have over four billion monthity active viewers with search and even i

meta company usually responds positively to most of our requests. cooperation that the zionists have a general office in meta company to encourage. part of my job is that to represent the people of israel inside the meta company. cutler, who was previously netanyahu's advisor , said that if we learn about content that violates israeli laws , we will restrict access to that content. the removal of posts with anti-zionist content has also happened on the american x platform. lapid, the head of one of the parliamentary parties of this regime , asked social networking platforms such as ikmeta and telegram to remove content related to hamas in these networks. because of spreading false information on social networks according to the evidence, the americans also looked at him, fatemeh sharifi , negev sedavasima news agency, hiyel, احد المحبليل على هكتفيميه هو كل شماء رك سراح هوا وريق. come down, when they took me out of the tomb, they dressed me in three skirts so that i would be modest, and then we reach the border , i see another group of terrorists, th

and that bodes well for meta.inted was a real surprise, especially given that it's going in a different direction than microsoft >> a lot of people had been hiding out in alphabet after the print. >> i think that's correct, and i agree with a couple of things that julia just pointed out. the core business at alphabet continues to be healthy. that is the advertising business, the search business, the youtube business but there are a couple of concerns on a name that came up following the report last night. one, on cloud, where the company underperformed also an ai, where it feels like it's a very, very competitive environment with the other large tech players and every time someone gets closer to a new practical application, the other players in the space seem to take some heat there's a little bit of concern about expense growth at the company. the company has been pretty clear that they think that they can fuel their growthy ambitions by managing parts in other parts of the business, but margins were a little sof

it even used that word internally addicting metas conduct is deceptive.dangerous and as we make clear in our lawsuit, it is illegal. >> the federal lawsuit filed in northern california accuses meta of designing to addict children. today, california attorney general rob bonta, who you just heard from there, accused meta officials, including ceo mark zuckerberg, of publicly lying about the addictive nature of the platforms, saying it lowers young people's self-esteem. um, the suit also accuses meta of violating federal law by routinely collecting data on kids under 13 without parental consent. meta issued a statement saying, quote, we're disappointed that instead of working productively with companies across the industry to create clear age appropriate standards for the many apps teens use. the attorneys general have chosen this path. >> if you have federal student loans, you may want to double check your account. more than 300,000 borrowers got messages telling them to pay the wrong amount. in some cases more than what they're supposed to owe. the departme

just announced taking on meta of facebook and instagram.ys general have joined forces to essentially say you are hurting our young people. 33 state attorneys general are now filing this lawsuit that alleges this, in part, and i'll read it. it alleges, meta's design choices and practices take advantage of and contribute to young users' susceptibility to addiction. they exploit psychological vulnerabilities of young users through the false promise that meaningful social connection lies in the next story, image or video and that ignoring the next piece of social content could lead to social isolation and they're not alone. in addition, eight other states are filing separate, but similar lawsuits in state court. one of the attorneys general leading the federal lawsuit is the attorney general of california rob bonta, and he joins us now. thank you very much. first and foremost, why now -- are you all taking this step? as you know, there has been concern and it has been studied and displayed for years the impact social media platforms could have

meta has using a.i.ement of ads, and that can boost them as well >> you know, i expect met art to put up pretty strong results google, as well as snap both highlighted, retail as a portion of strength this last quarter. retail is 30%, 35% of meta's rev revenue. >> are you not concerned -- what do you think was going on with snap and its weakness? >> snap is more of a brand platform, more about building awareness for brands you just don't want to be next to content that may negatively influence your brand i think there are times -- you've the, where you do see brands just paw temporarily. i don't think this is a sign of weakness for the overall ad market, but just a pause >> do you want to pick up on that >> yeah. meta has so much scale in gen general. snap has seen gains in response. direct response you can measure their impact, whereas brand will be rough to say things more likely to fluctuate. >> steve you mentioned that it may not get the same boost as azure is at microsoft. we were both at the techno

the lawsuit goes on to say meta has misled the public about the use of its platforms.arch showing that the use of facebook and instagram is associated with depression, anxiety, insomnia in young people and they say meta has continued to deny and down play these harmful effects and to promote its platforms as safe for young users. >> something the surgeon general has talked about as well. any response from meta. >> reporter: in statement, the company, quotes share the attorney general's commitment with providing teens with safe positive experiences online and have introduced 30 tools to support teens and their families. instead of filing lawsuits state officials should have worked productively with companies across the industry. >> kate. >> i talked to teens last week for a "today" show piece. they're not on facebook but they are on instagram. >>> let's turn to california, hotel workers in los angeles have been on strike for a 114 days, some 15,000 housekeepers, front desk staffs from about 60 different hotels are on the picket lines. today, those striking workers are o

the results of their final report were presented to the board of directors of meta company. linda sarresor is an american civil activist of palestinian descent. she has extensive political and civil activities in the united states and is known for her calls to protect the rights of muslims in this country . influential in the world it turned out that he has extensive relations with a number of political figures around the world, even when he wrote an article about the rights of palestinians on meta platforms in english , facebook's policies in aman are symbolic, as an american activist of palestinian descent, he has many experiences in i had facebook. i have a public page where i publish all my personal content. whenever i write about issues such as climate justice or racial justice, my articles receive widespread attention, but when i publish an article about palestine or articles i am republishing about palestine even before the recent events in sheikh al-jarrah, al-aqsa mosque and jenin, gaza. in the west bank, i witnessed that this content is rarely seen on facebook . it

it even used that word internally addicting metas conduct is deceptive.rous and as we make clear in our lawsuit, it is illegal. >> the federal lawsuit filed in northern california accuses meta of designing to addict children. today, california attorney general rob bonta, who you just heard from there, accused meta officials, including ceo mark zuckerberg, of publicly lying about the addictive nature of the platforms, saying it lowers young people's self-esteem. um, the suit also accuses meta of violating federal law by routinely collecting data on kids under 13 without parental consent. meta issued a statement saying, quote, we're disappointed that instead of working productively with companies across the industry to create clear age appropriate standards for the many apps teens use. the attorneys general have chosen this path. >> if you have federal student loans, you may want to double check your account. more than 300,000 borrowers got messages telling them to pay the wrong amount. in some cases more than what they're supposed to owe. the department of

meta has responded to the lawsuit. in a statement, it said in part, we're disappointed that instead of working productively with companies across the industry to create clear age appropriate standards for the many apps teens use. the attorneys general have chosen this path, meta said. it has introduced more than 30 tools to support teens and families. but jim steyer, with common sense media, says meta can't be trusted to self-police. >> the idea that fake facebook and instagram are going to come out and say, don't worry, we have all the tools in place, you just need to use them is almost laughable. >> the lawsuit also accuses meta of routinely collecting data on kids under 13 without their parents consent, in violation of federal law. experts say concerns surrounding data collection have long been an issue in silicon valley. when you go to use a platform, really what you're doing is performing free labor. >> you're toiling away for eight, ten, 16 hours a day for some young people, unfortunate. and you don't get paid fo

the taiwan stock market has opened an meta shares opened at 3% lower and we will keep a close eye ifreaction there. thank you for tracking us the story. it's not just foxconn. other tech companies under scrutiny are microsoft, alphabet, and meta all of which will announce earnings this week. our business reporter katie silver tells us what to look out for. it's a bumper week for tech earnings, a sector hit hard with lay—offs and government regulation earlier this year but seems to be for the most part bouncing back. it's notjust how they did in the previous quarter, investors are looking at what companies say about what is coming next. on tuesday, microsoft will report its earnings for the third quarter, a company that often beats expectations. microsoft managed to get its huge acquisition of the video game publisher activision blizzard which makes kandy krush over the line. getting hard won approval from the regulators. and that is the good news, but microsoft might also have to pay almost $30 billion to settle a tax bill. alphabet also reports tuesday. last quarter the earnings out

weiss' moves, the bounces we're seeing today meta is up 3%. microsoft is up two. we said amazon is up eight intel is up 10 amd up more than 3 tesla is up today. stocks are having to rebound how would you assess where we are? >> we were overvalued and saw things come back to earth a little bit an opportunity to regroup. the companies are a higher price and lower valuation. jenny and i are in a different world for the most part but do own microsoft and apple. microsoft was my final trade last week. i don't know that apple will be as good. from our perspective and bryn's, we've been dealing with this volatility writing covered calls. steve hasn't seen this in a while. we've been in a muted environment follows the vix, volatility is concerned. our call rating has picked up actively >> a perfect segue to you, bryn. you do employ a similar strategy to what kevin does it was a pretty turbulent week and now we have apple in front of us. where are we today as we head into the next week stocks were firmly in the driver's seat against bonds and within st

he gutted critical teams, as other platforms have liked meta and tiktok in youtube.lon musk has also change the blue check mark feature which in the scheme of all of these swirling forces one of the big problems. it in center by his people to subscribe and they pay a small fee, but their content gets boosted. if you're willing to pay that eight dollars your content might be featured in more people's feeds. he also needs at money because advertisers have been fleeing the platform. one of his incentives has been to pay people for engagement and virality. ed: just for our audience, x's response to this has been to call hands on deck. they have said all staff are focused on the israel-hamas war. they have given us data on committee notes action and for meta's heart they have a special operations team with fluent hebrew and arabic speakers working 24/7 to review content. at issue seems to be video content, video purporting to show one thing when in reality they are another. what is your view on the role video is playing? nora: video is one of the last frontiers. it is ver