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Meta is set to face off against the U.S. Federal Trade Commission on Monday in an antitrust trial that could force the social media giant to divest Instagram and WhatsApp. The closely watched trial carries high stakes for Metas $1.3 trillion market value. The company depends heavily on advertising revenue from Instagram, and losing control of the platform could deal a significant blow to its business. Here’s what to know about the FTC trial. The case focuses on decade-old acquisitions Meta acquired Instagram for $1 billion in 2012 and WhatsApp for $19 billion in 2014. The government argues that Meta didnt buy these companies for their products or technology, but rather to eliminate potential competition. Prosecutors say it reflects CEO Mark Zuckerbergs well-known strategy of buying rivals instead of competing with them. “Acquiring these competitive threats has enabled Facebook to sustain its dominanceto the detriment of competition and usersnot by competing on the merits, but by avoiding competition,” the FTC wrote in a complaint. That strategy, they allege, has led to a decrease in quality of Meta’s products. The government wants Meta to divest Instagram and WhatsApp The FTC wants Meta to breakup with Instagram and WhatsApp. That would mean the tech giant would have to spin off the two highly popular platforms into their own companies. Such a move could be detrimental to its broader advertising business. Instagram this year is expected to bring in more than half of Meta’s total U.S. ad revenue, or more than $32 billion, Adweek reported. Meta is standing its ground To no surprise, Meta is maintaining its innocence. The FTCs lawsuit against Meta defies reality, Meta said in a statement shared with Fast Company. The evidence at trial will show what every 17-year-old in the world knows: Instagram, Facebook and WhatsApp compete with Chinese-owned TikTok, YouTube, X, iMessage and many others. More than 10 years after the FTC reviewed and cleared our acquisitions, the Commissions action in this case sends the message that no deal is ever truly final. Regulators should be supporting American innovation, rather than seeking to break up a great American company and further advantaging China on critical issues like AI. The case is being tried before a familiar judge The FTC first brought this case before the courts in 2020. But Judge James Boasberg of the U.S. District Court in Washington dismissed it, saying that the government didn’t have enough evidence. The agency amended its suit in 2022 and Boasberg allowed it to move forward. Boasberg is already a well known judge among the public during this second Trump administration. He’s presiding over both the White House’s deportations to Venezuela and the fallout of top U.S. officials and advisors discussing imminent war plans over the Signal messaging app. Meta recently met with Trump Meta has reportedly been lobbying President Donald Trump and other White House officials to agree to a settlement ahead of the trial. The Wall Street Journal reported that Zuckerberg has visited the White House a handful of times since Trump’s inauguration. Former FTC leader Lina Khan expressed concerns in January that she hoped the Trump administration wouldn’t give Meta a “sweetheart deal.”
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E-Commerce
If youve talked to any senior citizens lately, theres a good chance theyve brought up their concerns about looming changes to the anti-fraud policies of the Social Security Administration (SSA). Many seniors are worried that the changes may mean that they will stop receiving their Social Security payments, or that there could be a delay in receiving them. The messaging around Social Security’s anti-fraud changes has been a bit confusing, not to mention constantly evolving. Heres what you need to know about the latest information available. Whats happened? As Fast Company reported last month, the Trump administration is implementing changes to the SSA’s anti-fraud policies. At the time, it was stated that from March 31, any individuals who began a Social Security benefits claim would be required to travel to a Social Security Administration office to verify their identity in person. This raised grave concerns from lawmakers and senior citizen rights groups since some seniors either have mobility issues, which make it hard to travel, or they live in rural areas, meaning they would need to travel great distances just to verify their identity. After significant public blowback to the requirement, the Trump administration backtracked. In a March 26 statement, the Social Security Administration said it was exempting individuals applying for Social Security Disability Insurance (SSDI), Medicare, or Supplemental Security Income (SSI) who cannot use a personal my Social Security account from the in-person requirement, allowing them to complete their claim over the phone. But some other individuals would still need to appear in person at an office to verify their identity, including those who need to change their direct deposit information for any benefit if they could not use the online “my Social Security” portal. However, the SSA moved the date back two weeks, from March 31 to April 14. The rules have changedagain Yet now the SSA has announced further changes, likely due to continued concerns from lawmakers and the public. While the April 14 datenext Mondaystill holds, not everyone who was originally required to appear in person will now have to, reports NPR. Individuals will now still be able to apply for certain changes over the phone. However, if those individuals are flagged for anti-fraud checks, they will then need to appear in person at a SSA office. According to an unnamed White House official who spoke with NPR, the change was made because the SSA anti-fraud team implemented new technological capabilities so quickly. What the new changes mean For now, the bottom line appears to be a less strict stance: From April 14, most people will still be able to manage their Social Security accounts online and on the phone. However, you may still be flagged with a fraud alert. If that happens, you will then need to appear in person at an SSA office. As the SSA posted on its official X account on April 8: Beginning on April 14, #SocialSecurity will perform an anti-fraud check on all claims filed over the telephone and flag claims that have fraud risk indicators. In a follow-up post, the agency said that Individuals that are flagged would be required to perform in-person ID proofing for the claim to be further processed, adding that Individuals who are not flagged will be able to complete their claim without any in-person requirements. Addressing the administrations reversal of its policy, Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare, told NPR that the change was “a victory for Social Security beneficiaries across the country. He went on to say, “The Trump administration did not change the policy out of the goodness of their hearts. They responded to public pressure. The reversal will be welcome to the millions of American senior citizens who rely on their Social Security payments to pay the bills. But its understandable that the chaotic nature and messaging surrounding the changes have caused so much alarm.
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E-Commerce
Many companies are acutely aware that a notable portion of their workers are struggling with burnout. The data makes that much clear: A Mercer report from last year found that 82% of workers said they were at risk of burnout. In another study conducted by the National Alliance on Mental Illness and Ipsos, over half of the workers surveyed said they had experienced burnout because of their job in 2023. Even so, it seems that employers may be underestimating just how widespread burnout really is among the workforce. A new report by the online marketplace Care.com indicates that while the vast majority of companies surveyed84%know that burnout can noticeably impact retention, they dont fully understand the scope of the issue. While employers believed only about 45% of their workers were at risk of burnout, 69% of employees said they were at moderate to high risk of burnout. The Care.com report, which polled 600 human resources executives and 1,000 rank-and-file employees, points to caregiving responsibilities as a driving factor behind burnout. Of the respondents who pay for family care, most of them say caregiving puts them at higher risk of burnout, and that their stress in the workplace is amplified by the burden of managing work expectations alongside caregiving. For many working parents, particularly those in their forties, caregiving responsibilities can take the form of both eldercare and childcare. What helps with burnout What does seem to help, at least according to Care.coms findings, are workplace benefits that help support caregiversan offering that has become increasingly common at companies that have invested in more niche employee benefits. Mental health resources have become some of the most popular benefits, along with fertility and family-building support. A number of companies also provide caregiver support in the form of subsidies or backup care coverage, which can help families manage gaps in childcare and offset the exorbitant cost of care. Despite the popularity of these employee benefit, companies don’t always see high rates of utilization across the board. But according to the Care.com report, when employers provide benefits tailored to caregivers, there can be a clear correlation with retention and stronger performance. The benefits that employees want About one in five employees said that they have quit jobs over a lack of caregiver benefitsor that they would leave for a role that offers those benefits. Among employees who have access to those benefits, 45% say that their productivity increased while 40% report lower rates of absenteeism. The emotional impact, too, can be significant: Over half of employees said caregiver benefits boosted their quality of life, improved their work-life balance, and reduced stress levels. According to the report, it seems that employees and employers alike are largely aligned on the expectation that companies can and should help families manage the cost of caregiving. What’s not always clear is the form that assistance should take. Narrow benefits like on-site childcare may not be the right solution for all parents, or companies may find that many of their employees are actually looking for help with eldercarewhich is why it’s important that employers actually take the time to understand what their workforce really needs.
Category:
E-Commerce
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