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Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images

Facebook CEO Mark Zuckerberg said Wednesday that Facebook and Instagram plan to together invest over $1 billion in creators through the end of 2022. 

Why it matters: This is by far Facebook's biggest investment in attracting creators to its platform to-date.

  • Facebook has slowly begun to roll out products and policies that favor creators, including revenue shares for ads sold against IGTV video content and "stars," which are akin to tips for creators from fans. It's said in the past it would not take a cut of any creator revenue until 2023.

Details: According to a spokesperson, the investment will fall in two buckets:

  1. Seed funding for creators to produce their own content.
  2. New bonus programs to pay eligible creators for hitting certain milestones when they use Facebook’s tools.

Beginning this summer, Facebook will roll out specific bonus programs for users who post content on Instagram's "Reels" platform, a feature similar to TikTok, as well as bonuses for other content efforts. Come this fall, bonus programs will be available to users creating in-stream videos on Facebook.

The big picture: As the creator economy expands, reports have suggested that Facebook has struggled to retain a competitive edge when it comes to incentivizing creators to use their platform over rivals like YouTube and TikTok.

Go deeper

Tech's leaky world

Illustration: Annelise Capossela/Axios

Tech companies are learning what everyone in Washington already knows: Leaks of confidential info are inevitable, and "plumbing" operations to close them rarely work.

Why it matters: Most tech firms talk up the power of transparency but prefer to keep details of their operations secret from competitors and the public. Researchers, regulators and the media are increasingly relying on information provided by dissident employees and whistleblowers to see inside companies' workings.

Updated 8 hours ago - World

U.S. airstrike kills senior al-Qaeda leader in Syria, DOD says

A displacement camp near the village of Qah in Syria's northwestern Idlib province. Photo: Ahmad Al-Atrash/AFP via Getty Images

A U.S. airstrike in northwest Syria on Friday killed senior al-Qaeda leader Abdul Hamid al-Matar, U.S. Central Command said in a statement.

Why it matters: Syria serves as a "safe haven" for the extremist group to plan external operations, according to U.S. Army Maj. John Rigsbee.

Updated 13 hours ago - Politics & Policy

Giuliani associate Lev Parnas convicted of campaign finance crimes

Lev Parnas, a former associate of then-President Donald Trump’s personal lawyer Rudy Giuliani. Photo: Stefani Reynolds/Bloomberg via Getty Images

Florida businessman Lev Parnas was convicted Friday on charges of conspiracy to make foreign contributions to political campaigns, according to multiple outlets.

Why it matters: Prosecutors said Parnas, then an associate of former President Donald Trump's personal lawyer Rudy Giuliani, funneled over $150,000 from a Russian businessman into U.S. campaigns as part of an effort to land licenses in the U.S.'s legal cannabis industry.