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"While we are cautiously optimistic that these trends could sustain over time, we are also conscious that operating conditions may remain volatile, and that economic conditions could further deteriorate," Snap Chief Financial Officer Derek Andersen said in his prepared remarks. "For example, advertising demand in Q3 has historically been bolstered by factors that appear unlikely to materialize in the same way they have in prior years, including the back to school season, film release schedules, and the operations of various sports leagues."
-- Max A. Cherney, Barron's

It's been my contention all along that the "boycott Facebook" trend was more about reducing costs ahead of plummeting sales, than the altruistic reasons being fed to investors -- Scrib

Facebook, Google, and others will now have to operate within rules set by the Communist Party of China if they want to stay in Hong Kong. If they do that, they will likely face a backlash back at home among their employees and US lawmakers. If they don’t, they lose out on getting any foothold at all within the biggest online market in the world.
-- Charlotte Jee, MIT Technology Review

California caught the world by surprise last year when it passed the nation’s strongest data privacy law, instantly making Sacramento one of the most important regulators of global tech. As members of the California legislature forged the deal on a defining challenge of the digital age, the internet companies were slow to awaken to the threat, and brought few of their considerable resources to bear.
-- Katy Murphy, Politico

Introducing Facebook News

People want and benefit from personalized experiences on Facebook, but we know there is reporting that transcends individual experience. We want to support both. Today we’re starting to test Facebook News, a dedicated place for news on Facebook, to a subset of people in the US.
-- Campbell Brown and Mona Sarantakos, Facebook

Facebook doesn't curate my news. It curates my mom.

-- Scrib