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Facebook Loses Over $110 Billion in Market Value

Facebook
Jason Tate

Todd Spangler, writing for Variety:

Shares of Facebook plunged more than 19% in early trading Thursday, as investors reacted to signs that the social-media giant’s user and revenue growth are significantly slowing down.

The stock drop, to its lowest levels in nearly three months, wiped out more than $110 billion in market capitalization for Facebook and dragged down other internet and tech stocks including Twitter and Snap. Facebook’s market cap was $629.6 billion at the close of market Wednesday, and stood at around $503 billion as of Thursday at 10:30 a.m. ET.

Ouch.

The Interrupters Talk With Billboard

The Interrupters
Jason Tate

Chris Payne, writing for Billboard:

“She’s Kerosene” rose 25 percent in spins last week at alternative radio and currently sits at No. 32 on Billboard’s Alternative Songs chart, its peak position in three weeks on the tally. It just debuted on Rock Airplay (which covers all rock formats), so it’s certainly trending in the right direction. Contemporary alt radio doesn’t play much punk and is generally slow to play to female singers, across all genres. So why is there a decent chance your normie Facebook friends from high school will know this song by Labor Day? Allen (who goes by Aimee Interrupter now) and guitarist Kevin Bivona aren’t quite sure, but they’ve got wisdom to share.

That song is a bona fide hit and this album is really fun.

Dave Eggers and Shawn Harris Team Up for New Children’s Book

The Matches
Jason Tate

Author Dave Eggers and The Matches’ Shawn Harris have teamed up for a new children’s book called What Can a Citizen Do? Pre-orders are now up.

A group of children turn a lonely island into a community across the course of several seemingly unrelated but ultimately connected actions. Coming this September, available to preorder now via Chroniclebooks.

A dollar of every book preordered will be donated to @citizenuniversity, a national platform for fostering responsible and empowered citizenship!

Read More “Dave Eggers and Shawn Harris Team Up for New Children’s Book”

Former MTV VJ Jesse Camp Reported Missing

MTV
Jason Tate

Francesca Bacardi, writing at Page Six:

A spokesman for the Riverside Police Department in California confirmed to Page Six on Monday that Camp, whose real name is Josiah Camp, was reported missing on July 19 by his sister. Friends and family have been sharing concerned messages on social media, asking anyone for information on his whereabouts.

Camp, 38, rose to fame in 1998 when he became an MTV VJ after winning the network’s first “Wanna Be a VJ” contest. He had previously been homeless.

Drake Tops the Charts, Again

Drake
Jason Tate

Drake once again has the number one album in the country this week:

For a third straight week, Drake’s Scorpion holds at No. 1 on the Billboard 200 albums chart. The set earned 260,000 equivalent album units in the week ending July 19, according to Nielsen Music. Of that sum, 29,000 were in traditional album sales.

Matt Healy Talks With The Guardian

Jason Tate

The 1975’s Matt Healy sat down with The Guardian to talk about the band’s upcoming album:

He selects a song that doesn’t sound at all anxious. It is surprisingly loose after ILWYS’s gleaming 80s pop architecture: all spilling piano chords, trumpet solos and vocals from the London Gospel Community Choir. It is about forgiving and mending himself. “I’m scared of the world,” he says. “I’m not scared of myself any more.”

Sparkling with Springsteen-like festivity, “It’s Not Living If It’s Not With You” is about addiction: “Collapse my veins wearing beautiful shoes,” Healy sings. There is a mellow song about rehab and he reckons their “Drake-y” tropical house experiment will be their biggest hit. The night before, Healy saw James Taylor live and marvelled at the simplicity of his enduring hits. One lounge jazz number on the album is exactly that kind of love song, about passing the age where young people once settled down, and loosely fits the album’s theme of how the internet affects relationships, says Healy.

Undercover Facebook Moderator Was Instructed Not to Remove Hate Speech

Facebook
Jason Tate

Nick Statt, writing at The Verge:

An investigative journalist who went undercover as a Facebook moderator in the UK says the company lets pages from far-right fringe groups “exceed deletion threshold,” and that those pages are “subject to different treatment in the same category as pages belonging to governments and news organizations.” The accusation is a damning one, undermining Facebook’s claims that it is actively trying to cut down on fake news, propaganda, hate speech, and other harmful content that may have significant real-world impact.

Burn it all down.

Spotify Won’t Let Users Block Harassers

Jason Tate

Davey Alba, writing at BuzzFeed:

Since at least 2012, Spotify users like Meghan have been asking the music streaming giant for a block feature for a simple reason: Over the years, harassers and abusers have used the service to stalk and intimidate victims. […] A company representative told BuzzFeed News that Spotify “does not have any timeline on plans for a block feature.”