Zuckerberg faces Congress as Facebook prepares to debut news tab: Thursday Wake-Up Call
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Mark Zuckerberg faces Congress
Facebook CEO Mark Zuckerberg testified before the House Financial Services Committee yesterday, and faced some tough questions, not only about the company's planned cryptocurrency, Libra, but also concerning its overall power and influence. According to Bloomberg News, Committee Chairwoman Maxine Waters said Facebook should stop work on its cryptocurrency project until the company addresses a series of unrelated “deficiencies” in its social media business. “You have opened up a serious discussion about whether Facebook should be broken up,” she said.
The hearings come as Facebook is set to launch its “news tab” at an event on Friday, according to the Washington Post. Zuckerberg hinted at the debut in his Congress testimony, saying ”a big initiative around news and journalism” would launch later in the week. The Post says the list of participating organizations, initially totaling about 200, will include itself, the Wall Street Journal, BuzzFeed News and many local news sources. The New York Times is also likely be involved, although this isn’t yet confirmed.
J.Lo and A-Rod’s meal kit line
Multi-talented Jennifer Lopez has her fingers in lots of pies at the moment, including a box office hit, “Hustlers,” that might see her Oscar-nominated. And now, she also has a line of pressure-cooker meal kits sold at Walmart.
Yes, you read that right. According to Ad Age’s Marketer’s Brief, J.Lo and her equally high-profile partner, baseball star Alex Rodriguez, have teamed up to co-found the Tiller & Hatch Supply Co. meal kit line, which features dishes such as farfalle with marinara and ground turkey, and coconut chicken stew with vegetables and rice. The kits cost less than $3 per serving and a portion of the proceeds is said to be going to benefit shelters and charities working to fight hunger. “This is an option we wish had been available to our families growing up,” Rodriguez said in a statement.
Instagram bans cosmetic surgery filters
The days of the cosmetically altered selfie on Instagram may be numbered, after the company banned augmented reality filters that mimic plastic surgery, amid mental health concerns. According to the New York Post, “One now-removed filter known as 'Fix Me' plastered pen marks onto the user’s face to show how a cosmetic surgeon might map out the lifts and tucks of plastic work. Another dubbed 'Plastica' revealed how a user might look if they went under the knife by over-inflating their lips and cheeks.”
The move comes as Instagram is under pressure to crack down on posts that promote unattainable airbrushed beauty, as well as dieting, after concerns that teens in particular are being negatively affected. Last month, Instagram banned celebrities from promoting diet fads to teens. And just yesterday, the U.K.’s Advertising Standards Authority banned posts by three celebrities promoting weight-loss brands, according to The Independent.
Get ready for Ad Age Next: Leaders from the publishing world will share their expertise at Ad Age Publishing: Next, a half-day conference on Nov. 14 in Manhattan. Speakers include Pam Wasserstein, CEO, New York Media, Jessica Pels, editor-in-chief, Cosmopolitan and Josh Stinchcomb, global chief revenue officer, The Wall Street Journal and Barron’s Group. Register here.
Droga5 shakeup: Droga5 has made a series of creative promotions in its first shakeup since the acquisition by Accenture Interactive, writes Ad Age’s Ann-Christine Diaz. Among the moves, Chief Creative Officer Neil Heymann becomes the agency's first-ever global chief creative officer, while Executive Creative Directors Felix Richter and Tim Gordon step into Heymann's former role as co-chief creative officers.
Tumbling: Ford's third-quarter net income has fallen by nearly 60 percent, reports the New York Times. The company booked $1.5 billion in charges mainly for restructuring, and Chinese and U.S. sales dropped.
Campaign of the day: Gap is opting for a more emotional tone in its holiday advertising this year, writes Ad Age’s Adrianne Pasquarelli (yes, holiday advertising is here already). In a departure from its "typical jazzy musical numbers of previous campaigns that doubled down on nostalgia," says Pasquarelli, its anthem spot, by Johannes Leonardo, follows the growth of a young boy, his single mother and his trusty red Gap hoodie. Also, it won’t air on TV, but on digital media only. Watch it here.
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