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Facebook's folly could impact other businesses

Photo by Ted Soqui/Corbis via Getty Images

Facebook has now lost around $64 billion in market value since weekend revelations that 50 million users had their data improperly accessed by a Trump-linked analytics firm.

  • Shares were off another 5.6% as of noon Tuesday.

Bottom line: Increased calls for new user privacy regulations could upend the entire social media business model, and create massive ripples for other businesses that rely on that model for their own marketing efforts. That's a big reason why the Dow fell 1.4% yesterday, even though Facebook isn't actually part of the Dow.

Stef W. Kight 3 hours ago
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U.S. tech giants hiring more foreign workers on H-1B visas

Prominent U.S. tech companies obtained more H-1B visas in 2017 than in 2016, according to a new study by the National Foundation for American Policy using fresh data from U.S. Citizenship and Immigration Services. At the same time, several of the largest India-based companies saw a decrease in approved petitions for the second year in a row.

The big picture: Total petitions for H-1B visas for the 2019 fiscal year fell by about 9,000, mostly due to a decreasing numbers of H-1B petitions from India-based firms. However, the study shows there is still a strong demand for H-1Bs in the U.S.

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Yes, there really is a lot of space junk

This visualization shows the 15,723 objects being tracked in low-Earth orbit by the U.S. military's Joint Space Operations Command — including nearly 13,000 that are classified as space debris.

Data: Space-Track; Note: Perigee is the point in an object's orbit where it's closest to Earth. Chart: Lazaro Gamio/Axios

Why it matters: As space opens up to more nations, companies and possibly nonprofits, concerns are growing about how to track the growing amount of debris. This week, Vice President Mike Pence announced a "comprehensive space traffic management policy" to address the issue.