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Facebook Enters China With Stealth App

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Facebook Enters China With Stealth App,Stealth App,Colorful Balloons,China With Stealth App,China Latest News,Startup Stories,New Technologies in 2017,facebook news today


Facebook, Twitter and other Western social media websites have been blocked by Chinese censors for years. Despite various efforts from various social media leaders, western social networking sites have not be able to enter China. Until now. New York Times reported, Facebook has authorized the release of a new app that does not carry the company’s name in an attempt to find a different way into China.

The photo sharing app called Colorful Balloons was released in May, which shares the look, function and feel of Facebook’s Moments app. New York Time also reported, according to a person with knowledge of the company’s plans, the app was released through a separate local company and without any hint that the app was affiliated with Facebook. Youge Internet Technology released the app in Apple’s app store in China, without any information that could connect them with the social media giant.

VCCircle reported, in response to an email query a Facebook spokesperson said Facebook has always been interested in China and are, therefore, spending a lot of time to understand and learn more about the country. “Our focus right now is on helping Chinese businesses and developers expand to new markets outside of China by using our ad platform,” they added.

China has the largest online market in the world and this anonymous release of an app by a major technology company shows the desperation and the frustration of global tech companies in their inability to break into this lucrative market.  At present, more than 700 million internet users in China currently use homegrown social networks such as Tencent Holding’s WeChat and microblogging service Weibo. The Chinese authorities have also partially blocked Whatsapp, which is owned by Facebook, in an attempt to ramp up censorship of social media and messaging platforms. The Chief Executive Officer of Facebook, Mark Zuckerberg has repeatedly tried to woo the Chinese authorities by learning Mandarin and by attempting to sell a book by the President of China, Xi Jinping, but to no avail. 

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Supreme Court Puts End to Misleading Celebrity Endorsements 

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Supreme Court Of India

The Supreme Court of India has taken a strong stance against misleading advertisements featuring public figures, emphasizing their responsibility in promoting products. This decision comes in response to concerns about the influence celebrities and public figures hold over consumer choices.

 

The Heart of the Matter:

 

The court’s ruling highlights two key points:

 

  1. Shared Responsibility: Advertisers, advertising agencies, and the public figures endorsing products are all equally liable for issuing misleading advertisements. This means that celebrities can no longer simply lend their face to a product without due diligence. They are expected to have a good understanding of the product and its claims before endorsing it.

 

  1. Self-Declaration:  The court mandated a stricter protocol requiring advertisers to obtain a self-declaration from endorsers. This declaration, similar to the Cable Television Networks Rules (1994), ensures that the advertised product complies with existing laws and avoids offensive content.

 

Why it Matters:

 

Celebrity endorsements hold immense power in influencing consumer behavior. Consumers often trust the judgment of their favorite actors, athletes, or social media personalities. This trust can be exploited by promoting products with exaggerated claims or those lacking scientific backing. 

 

The Case that Triggered the Ruling:

 

The court’s decision stemmed from a case involving Patanjali Ayurved Ltd., a popular Indian consumer goods company, and yoga guru Ramdev. The Indian Medical Association (IMA) filed a plea against the company and Ramdev, accusing them of misleading advertisements and a smear campaign against COVID-19 vaccinations and modern medicine.

 

The Road Ahead:

 

This ruling is a significant step toward protecting consumers from deceptive marketing practices.  It encourages celebrities and public figures to be more selective and responsible about the products they endorse. Additionally, the court urged government bodies to implement procedures for consumers to easily report misleading advertisements. 

 

This move by the Supreme Court is likely to have a ripple effect across the advertising industry in India.  It will force companies to be more transparent and hold celebrities accountable for promoting products they don’t fully understand or that make unsubstantiated claims. 

 

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Mercedes Hits the Brakes on EVs: Profit Woes Lead to Focus on Gas-Powered Cars

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Luxury carmaker Mercedes-Benz is experiencing a shift in gears, prioritizing gasoline-powered vehicles over its previously ambitious electric vehicle (EV) strategy. This comes after disappointing sales figures and shrinking profit margins for their electric offerings.

The Dream Runs out of Charge:

Mercedes, a leader in the luxury car market, had set a goal to be fully electric by 2030. However, sluggish sales of their electric vehicles, particularly the high-end EQS and EQE sedans, have forced a recalibration of their plans. The company’s profit margin dipped to a concerning 9% in the first quarter of 2024, falling below their long-term target range.

Why the Slow Charge?

Several factors are contributing to the lackluster performance of Mercedes’ EVs:

  •  Price Point Pinch: The high price tag of Mercedes’ electric cars, ranging from $70,000 to $120,000, limits their appeal compared to more affordable electric options. 
  •  Competition Heats Up: Other luxury carmakers like Tesla and BMW are offering strong competition, with some even surpassing Mercedes in EV sales growth. 
  •  Infrastructure Concerns: Gaps in charging infrastructure and anxieties about range remain significant deterrents for potential EV buyers.

Back to the Drawing Board:

In response to these challenges, Mercedes CEO Ola Källenius announced a revised strategy. The company will:

  •  Extend Focus on Combustion Engines:  Production of gasoline-powered and hybrid vehicles will continue well into the 2030s, catering to customer demand.
  •  Rethink EV Strategy: Mercedes will analyze consumer preferences and market trends to refine their electric car offerings. This may involve focusing on more affordable models or improving features to enhance range and charging efficiency.

The Road Ahead

The shift by Mercedes highlights the complexities of the automotive industry’s transition to electric vehicles. It underscores the need for car manufacturers to balance ambitious environmental goals with the realities of consumer behavior and market competition.

Is this a Permanent Pause?

While Mercedes is putting the brakes on its all-electric vision, it doesn’t necessarily signal a complete retreat from EVs. The company may leverage this time to strengthen its electric offerings and ensure they are competitive in the rapidly evolving market. Only time will tell if Mercedes can reclaim its position as a leader in the electric vehicle race.

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Reddit Soars After Strong Earnings and Upbeat Outlook

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Reddit, the social media platform known for its online communities and meme culture, saw its stock price jump significantly after releasing its first earnings report since going public in March. Investors were impressed by the company’s strong financial performance and optimistic forecasts for the future.

The report highlighted a surge in user engagement, with daily active users increasing by 37% to 82.7 million in the first quarter. This growth was accompanied by an 8% rise in average revenue per user, indicating Reddit’s success in monetizing its platform. 

Perhaps the most significant factor driving the stock price increase was Reddit’s forecast for the second quarter. The company projected revenue to fall between $240 million and $255 million, exceeding analyst expectations. Additionally, Reddit anticipates achieving break-even status or even generating a profit, surpassing predictions of a loss.

This positive outlook can be attributed in part to Reddit’s flourishing advertising business. The company is also capitalizing on a new revenue stream: content licensing deals with artificial intelligence (AI) firms. Reddit’s vast collection of user-generated content provides valuable data for training AI models, attracting companies like Google.

Analysts believe Reddit is still in its early stages of monetization and predict continued growth in the coming quarters, fueled by advancements in ad targeting and measurement tools. This optimism is reflected in the stock price surge, which has climbed roughly 70% since Reddit’s IPO.

Overall, Reddit’s first earnings report paints a bright picture for the company’s future. With a thriving user base, increasing revenue opportunities, and a promising outlook, Reddit appears well-positioned for continued success in the ever-evolving social media landscape.

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