Sheryl Sandberg. Photo: Drew Angerer/Getty Images
What's Facebook's story on how involved COO Sheryl Sandberg was in investigating billionaire George Soros? It depends on the day, as Axios' David McCabe reports.
Two weeks ago, Sandberg spoke with a CBS News anchor and said she “did not know about or hire” a consulting firm that linked the social network's critics to liberal billionaire George Soros, a frequent recipient of anti-Semitic attacks.
Two weeks ago, Sandberg also said she respected Soros, so “I'm looking into it.”
Why it matters: Sandberg’s boss, CEO Mark Zuckerberg, has stood by her thus far. But the flow of new revelations about what she knew, and what she did, are further undermining her credibility and the company's already frayed reputation.
What they're saying:
Our thought bubble: Looking into Soros is one thing, but the continued walk-backs make the company sound more like a political campaign trying to squelch a scandal than a responsible business trying to serve the community.
Earlier in the day, Sandberg was part of a Facebook delegation that met with representatives of Color of Change, an outside group that has been pushing tech companies on diversity issues.
What's new: The group says that Facebook promised it will release an early version of a civil rights audit of its platform by the end of the year, David reports.
Yes, but: The social network hasn’t yet fulfilled any of the other requests made by the group, which has asked Facebook to...
Details: Sandberg apologized to the civil rights group during the meeting, according to multiple sources.
The big picture: The meeting comes as Facebook is dealing with a number of issues, including a memo that was made public earlier this week from former Facebook employee Mark Luckie also accusing the company of failing to support its black employees.
What they’re saying: "There was a lot of back and forth,” Robinson said. “There were things we pressed them on.”
Read more of David's story here.
Teens take a selfie in Times Square, New York. Photo: Drew Angerer/Getty Images.
Despite rising concern in both Silicon Valley and beyond about screen time overload, a new Pew Research Center report shows a large majority of teenagers believe using social media is good for them, Axios' Marisa Fernandez reports.
Why it matters: A lot of research into the relationship between young people and social media has drawn negative conclusions: Social media is anxiety-inducing, creates unrealistic body images, and promotes cyberbullying and ideological bubbles, BuzzFeed reports. But teens themselves apparently disagree.
Some 45% of teens say they're on the internet constantly, causing them to be the driving force of which apps and sites are popular, per Pew.
By the numbers: In the report, 743 teens were surveyed about the benefits and negatives of social media use.
In its first cases involving initial coin offerings, the Securities and Exchange Commission settled with boxer Floyd Mayweather Jr. and music producer DJ Khaled for failing to disclose payments they received for promoting the ICOs.
Separately, the FBI arrested AriseBank CEO Jared Rice, Sr., alleging he duped hundreds of investors out of more than $4 million in a cryptocurrency scheme.
The bottom line: The world of cryptocurrencies may be the Wild Wild West, but there is still a sheriff.
This person turns Starbucks cups into art.