It goes without saying that when you put your thoughts out into the world, you deserve to feel safe and when this safety is attacked, your mental health may get affected. Facebook, a platform for promoting your thoughts and ideas, has moved from being a purely interactive social media platform to a place where trolls and trollers rule the roost. To protect its more than 2 billion regular user base, Facebook has passed new tools and tweaked its settings to act against the bullies.
Delete, moderate and remove negative comments
“Do not feed the trolls,” is what people have always said. How often does one listen to the wise sayings of the people with experience? Never, right? If a bear pokes you, you cannot help but poke back and this is how negativism breeds on a constant basis on Facebook. To counter this growing trend of hatred, Facebook is going to give its users more control over the comments.
Sharing more details about last week’s security issue for developers using Facebook Login: https://t.co/gtKc3Jm7Z2
— Facebook (@facebook) October 2, 2018
Now, not only can you hide multiple comments, you can also delete them with the click of a button. The new feature is going to be rolled out on desktops, Android and iOS versions. Furthermore, if you think a family member or friend is being bullied, harassed or abused, you can report the said post on behalf of the friend or family member. Once reported, the Community Operations team will take a look at the post and decide the required action on the basis of Facebook’s rules and regulations.
To simplify matters, if you think the decision taken by the Committee is not what you thought it would be (both for the person who raised the complaint and the person against whom the complaint has been made,) you can make an appeal and the Committee will decide accordingly.
Protection of not just individual users, but celebrities as well
So far, Facebook has allowed people to talk, criticize and discuss about celebrities and the things they have said and done, without any regard to the person’s well being. Now, Facebook is working on protecting these celebrities by making sure no celebrity on the platform is personally and negatively attacked.
Previously, Facebook had introduced a tool that protected celebrities up to a certain age. However, to improve the safety standards, the social media platform is now expanding its policies to protect celebrities without age as a barrier. With Facebook’s new tools, anyone experiencing things they do not want to on Facebook can now report, block the user and ignore the messages without letting the harasser know.
Taking safety one step forward, Facebook is going to start a new partnership with the National Parent Teachers Association in the United States and will organise over 200 community events to address the challenges faced by parents in all the states. Further, Facebook is also going to offer peer to peer anti bullying and safety programs to schools in the United Kingdom. By organising and supporting safety programs in India, Facebook is spreading the message of improving the standards of online safety in all the countries where this social media platform is used on a regular basis.
Overall Facebook Rating
Binny Bansal Sells ₹531 Crore Worth Flipkart Shares To Walmart
Binny Bansal, an Indian billionaire, entrepreneur and co founder of the e-commerce website Flipkart, sold $ 76.4 million worth of his shares in Flipkart to Walmart’s Luxembourg entity FIT Holdings SARL.
Binny Bansal, along with his partner Sachin Bansal, co founded the Flipkart and served as its Chief Executive Officer until January 2016.
Walmart, a multinational retail corporation, bought Flipkart in 2018 and back then, Bansal sold a small portion of his shares and held 3.85 % of stake.
Now, according to the documents filed by Flipkart with the regulators, Binny Bansal transferred 539,912 equity shares to FIT Holdings SARL. These shares are valued to be $ 76.4 million (approximately Rs. 531 crores.) This latest deal left him with only 3.52 % stake in Flipkart.
Vivek Durai, the founder of Paper.vc, a business intelligence platform, said, “With this transfer, Binny Bansal has monetised a small portion of his shareholdings. He had sold 1,122,433 shares for about $ 159 million during the Walmart takeover.”
According to his contract with Walmart, Binny Bansal is entitled to sell more than half of his shares to Walmart by August 2020 and he could gain around $ 400 million from this transaction.
Bansal, who is mostly based in Singapore, is now an investor in India’s startup ecosystem and is also the co founder of xto10X Technologies, which was launched last year.
In December 2018, Binny Bansal invested a sprawling $ 25 million dollars in the online insurance startup Acko. He also invested in several AI and healthtech startups.
Facebook Reveals Details Of Its Cryptocurrency Libra
On the 18th of June, Facebook revealed details of its brand new cryptocurrency called Libra. An alternative to cash, this cryptocoin can be used to buy things or send money to people with close to no fees. The cryptocurrency is going to be launched by an association called The Libra Association, which consists of a group of companies interested in getting Libra out into the world.
You can use Libra to buy or cash out your Libra at local stores like grocery stores and through third party wallet apps. To make using Libra an easier task, Facebook owned Calibra Wallet will be built into WhatsApp and Messenger, thereby simplifying transaction processes. Although certain countries have banned the use of cryptocurrencies, Facebook is trying to break new ground with the launch of Libra.
While Facebook is launching Libra, the social media giant is not going to be in complete control of the cryptocoin. The coin will be controlled by a consortium consisting of its founding members, Visa, Uber and Andreessen Horowitz. The three companies have invested at least $ 10 million each into the creation of this cryptocurrency.
Customers interested in holding or transferring the newly acquired token will be given multiple options to do what they wish. To further simplify matters, Facebook will let customers access transactions through this cryptocurrency via a special app designed for iOS and Android.
To protect the identity of its users while making transactions through the new app, Facebook won’t require you to share personal details. “The advent of the internet and mobile broadband has empowered billions of people globally to have access to the world’s knowledge and information, high fidelity communication, and a wide range of lowercost, more convenient services,” the Libra Association said in a paper announcing the cryptocurrency.
Libra will be made available to the world during the first half of 2020. As of now, Facebook is focusing on building relationships in international waters.
Stay tuned for more updates.
Facebook Invests In Indian Startup Meesho
On the 13th of June, social media giant Facebook announced, it invested an undisclosed amount in Indian startup Meesho.
A Bengaluru based startup, Meesho works with resellers and emerging brands using social media. This is the first time Facebook invested in a startup based in India. Through this investment, Facebook aims to increase its commitment to the Country’s vibrant internet ecosystem.
“Facebook is an ally for India’s economic growth and social development. We are excited about India and its rapidly rising Internet ecosystem. With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India,” Ajit Mohan, the Managing Director of Facebook India, said in a statement.
It was two primary factors which made Facebook invest in Meesho. The first reason was how the startup is growing outside the Tier II and III cities, where new users are present. The second reason is, Meesho has a larger user base, 80 % of which are women.
So far, Meesho has raised $ 50 million from a Series C funding round in November last year. According to industry reports, the startup helps people using its service earn close to Rs. 25,000 every month! With WhatsApp playing a crucial role in the app’s growth, it comes as an added blessing that Facebook invested in this particular startup.
Through investments like these, Facebook is capitalizing on the social media boom happening in India.
Stay tuned for more updates.
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