Mark Zuckerberg said he missed a giant shift in social networking
Facebook Chairman and CEO Mark Zuckerberg testifies before the House Financial Services Committee on “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors” in the Rayburn House Office Building in Washington, DC on October 23, 2019.
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Meta CEO Mark Zuckerberg failed to anticipate a newer trend in social networking that contributed to the success of rival TikTok.
In an interview published Wednesday in analyst Ben Thompson’s Statechery newsletter, the Facebook founder said he “sort of missed” a newer way that people “interact with discovered content” via social networking services. People are increasingly using their social networking “feeds” to discover compelling content as opposed to viewing the media shared by the friends that they follow, he explained.
Although people still interact with content that their friends share in their feeds, the overall social networking trend has “by and large shifted to you use your feed to discover content, you find things that are interesting, you send them to your friends in messages and you interact there,” Zuckerberg said.
“So in that world, it is actually somewhat less important who produces the content that you’re finding, you just want the best content,” the Facebook founder said. (Facebook changed its corporate name to Meta last year.)
Analysts have attributed TikTok’s rapid rise in popularity due to its algorithm, which can recommend compelling short videos to users based on their habits and viewing history. TikTok’s rise has posed a significant challenge to the company, which is experiencing a decline in North American Facebook users, and a stock price that’s lost more than 56% this year so far.
Zuckerberg referred to TikTok as a “very effective competitor” during the interview, and acknowledged that the company was “somewhat slow to this because it didn’t fit my pattern of a social thing, it felt more like a shorter version of YouTube to me,” he said.
Zuckerberg also believes it’s important for Meta to develop AI that can recommend a range of content including photos and text to users besides just short videos.
“Sometimes I want to watch specifically videos, but a lot of the times I just want the best stuff,” he said.
Earlier this week, Meta debuted the Quest Pro virtual reality headset intended for VR enthusiasts as opposed to newcomers that will cost $1,500.
Watch: Meta will attract more buyers because it’s at an attractive price.
Beta Technologies shares surged more than 9% after air taxi maker Eve Air Mobility announced an up to $1 billion deal to buy motors from the Vermont-based company.
Eve, which was started by Brazilian airplane maker Embraer and is now under Eve Holding, said the manufacturing deal could equal as much as $1 billion over 10 years. The Florida-based company said it has a backlog of 2,800 vehicles.
Shares of Eve Holding gained 14%.
Eve CEO Johann Bordais called the deal a “pivotal milestone” in the advancement of the company’s electric vertical takeoff and landing, or eVTOL, technology.
“Their electric motor technology will play a critical role in powering our aircraft during cruise, supporting the maturity of our propulsion architecture as we progress toward entry into service,” he said in a release.
Mateusz Slodkowski | SOPA Images | Lightrocket | Getty Images
Amazon’s cloud unit on Tuesday announced AI-enabled software designed to help clients better understand and recover from outages.
DevOps Agent, as the artificial intelligence tool from Amazon Web Services is called, predicts the cause of technical hiccups using input from third-party tools such as Datadog and Dynatrace. AWS said customers can sign up to use the tool Tuesday in a preview, before Amazon starts charging for the service.
The AI outage tool from AWS is intended to help companies more quickly figure out what caused an outage and implement fixes, Swami Sivasubramanian, vice president of agentic AI at AWS, told CNBC. It’s what site reliability engineers, or SREs, do at many companies that provide online services.
SREs try to prevent downtime and jump into action during live incidents. Startups such as Resolve and Traversal have started marketing AI assistants for these experts. Microsoft’s Azure cloud group introduced an SRE Agent in May.
Rather than waiting for on-call staff members to figure out what happened, the AWS DevOps Agent automatically assigns work to agents that look into different hypotheses, Sivasubramanian said.
“By the time the on-call ops team member dials in, they have an incident report with preliminary investigation of what could be the likely outcome, and then suggest what could be the remediation as well,” Sivasubramanian told CNBC ahead of AWS’ Reinvent conference in Las Vegas this week.
Commonwealth Bank of Australia has tested the AWS DevOps Agent. In under 15 minutes, the software found the root cause of an issue that would have taken a veteran engineer hours, AWS said in a statement.
The tool relies on Amazon’s in-house AI models and those from other providers, a spokesperson said.
AWS has been selling software in addition to raw infrastructure for many years. Amazon was early to start renting out server space and storage to developers since the mid-2000s, and technology companies such as Google, Microsoft and Oracle have followed.
Since the launch of ChatGPT in 2022, these cloud infrastructure providers have been trying to demonstrate how generative AI models, which are often training in large cloud computing data centers, can speed up work for software developers.
Over the summer, Amazon announced Kiro, a so-called vibe coding tool that produces and modifies source code based on user text prompts. In November, Google debuted similar software for individual software developers called Antigravity, and Microsoft sells subscriptions to GitHub Copilot.
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