Douglas Trumbull, the visual effects mastermind behind Blade Runner, Close Encounter of the Third Kind, 2001: A Space Odyssey and numerous others, died on Monday at age 79. His daughter Amy Trumbull announced the news on Facebook, writing that her father's death followed a "two-year battle" with cancer, a brain tumor and stroke. Engadget reports: Trumbull was born on April 8, 1942 in Los Angeles, the son of a mechanical engineer and artist. His father worked on the special effects for films including The Wizard of Oz and Star Wars: A New Hope. The younger Trumbull worked as an illustrator and airbrush artist in Hollywood for many years. His career really took off after he cold-called Stanley Kubrick, a conversation which led to a job working on 2001: A Space Odyssey.

One of his most significant contributions to 2001 was creating the film's Star Gate, a ground-breaking scene where astronaut Dave Bowman hurtles through an illuminated tunnel transcending space and time. In order to meet Kubrick's high aesthetic standards for the shot, Trumbull essentially designed a way to turn the film camera inside-out. Trumbull's ad hoc technique "was completely breaking the concept of what a camera is supposed to do," he said during a lecture at TIFF. Trumbull earned visual effects Oscar nominations for his work on Close Encounters, Star Trek: The Motion Picture and Blade Runner. He also received the President's Award from the American Society of Cinematographers in 1996.

Later in his career, Trumbull voiced distaste over the impact of computers on visual effects, decrying the cheapening and flattening impact of the new era of CGI. [...] He spent the last years of his life working on a new super-immersive film format he dubbed MAGI, which he believed would improve the experience of watching a film in theaters. But Trumbull struggled to draw the interest of today's film industry.

Markus Reinisch, Vice President of Public Policy Europe at Meta, writing on company's blog: There has been reporting in the press that we are "threatening" to leave Europe because of the uncertainty over EU-US data transfers mechanisms. This is not true. Like all publicly-traded companies, we are legally required to disclose material risks to our investors. Last week, as we have done in our previous four financial quarters, we disclosed that continuing uncertainty over EU-US data transfers mechanisms poses a threat to our ability to serve European consumers and operate our business in Europe. We have absolutely no desire to withdraw from Europe; of course we don't. But the simple reality is that Meta, like many other businesses, organisations and services, relies on data transfers between the EU and the US in order to operate our global services. Further reading: We're Fine Without Facebook, German and French Ministers Say.

An anonymous reader shares a report: Imagine for a moment that the millions of computer chips inside the servers that power the largest data centers in the world had rare, almost undetectable flaws. And the only way to find the flaws was to throw those chips at giant computing problems that would have been unthinkable just a decade ago. As the tiny switches in computer chips have shrunk to the width of a few atoms, the reliability of chips has become another worry for the people who run the biggest networks in the world. Companies like Amazon, Facebook, Twitter and many other sites have experienced surprising outages over the last year. The outages have had several causes, like programming mistakes and congestion on the networks. But there is growing anxiety that as cloud-computing networks have become larger and more complex, they are still dependent, at the most basic level, on computer chips that are now less reliable and, in some cases, less predictable. In the past year, researchers at both Facebook and Google have published studies describing computer hardware failures whose causes have not been easy to identify. The problem, they argued, was not in the software -- it was somewhere in the computer hardware made by various companies. Google declined to comment on its study, while Facebook did not return requests for comment on its study.

"They're seeing these silent errors, essentially coming from the underlying hardware," said Subhasish Mitra, a Stanford University electrical engineer who specializes in testing computer hardware. Increasingly, Dr. Mitra said, people believe that manufacturing defects are tied to these so-called silent errors that cannot be easily caught. Researchers worry that they are finding rare defects because they are trying to solve bigger and bigger computing problems, which stresses their systems in unexpected ways. Companies that run large data centers began reporting systematic problems more than a decade ago. In 2015, in the engineering publication IEEE Spectrum, a group of computer scientists who study hardware reliability at the University of Toronto reported that each year as many as 4 percent of Google's millions of computers had encountered errors that couldn't be detected and that caused them to shut down unexpectedly. In a microprocessor that has billions of transistors -- or a computer memory board composed of trillions of the tiny switches that can each store a 1 or 0 -- even the smallest error can disrupt systems that now routinely perform billions of calculations each second.

Meta Platforms' veiled threat to quit Europe because of blocked talks over privacy rules was more like music to the ears of two top German and French politicians. From a report: "After being hacked I've lived without Facebook and Twitter for four years and life has been fantastic," German Economy Minister Robert Habeck told reporters at an event alongside French Finance Minister Bruno Le Maire in Paris on Monday. "I can confirm that life is very good without Facebook and that we would live very well without Facebook," Le Maire added. "Digital giants must understand that the European continent will resist and affirm its sovereignty." The pair were responding to comments in Meta's annual report published Thursday, warning that if it couldn't rely on new or existing agreements to shift data, then it would "likely be unable to offer a number of our most significant products and services, including Facebook and Instagram, in Europe."

Meta has introduced a new "personal boundary" feature within its VR social spaces, starting with Horizon Worlds and Horizon Venues. Hypebeast reports: By enacting a personal boundary, a user will by default have a nearly 4-foot (1.2 m) distance between their avatar and others. Via an invisible barrier, the system will halt the forward movement of other avatars as they reach the boundary. Meta says that the feature will make it easier for users to avoid unwanted interactions such as harassment.

Users can still walk past other avatars with personal boundaries enabled and can even give them a high-five or fist bump. The feature will be rolled out as always-on, by default, which Meta says will "help to set behavioral norms" in the VR space. In the future, the company will consider adding new controls, such as allowing users to customize the size of their personal boundaries. In a statement to Ars Technica, a Meta spokesperson said: "Personal Boundary builds upon our existing harassment measures that were already in place - for example, where an avatar's hands would disappear if they encroached upon someone's personal space. When we launched Horizon Worlds as an invite-only beta in 2020 we knew this was just the beginning and over time we would be iterating and improving based on community feedback. We're constantly shipping new features based on people's feedback, including this one."

Amazon is more than doubling its maximum base pay for corporate and tech workers to $350,000 from $160,000. Axios reports: The move is intended to bring Amazon in line with competitors like Google, Facebook, Apple and Microsoft, and to help ensure the company retains employees and recruits top talent. "This past year has seen a particularly competitive labor market and in doing a thorough analysis of various options, weighing the economics of our business and the need to remain competitive for attracting and retaining top talent, we decided to make meaningfully bigger increases to our compensation levels than we do in a typical year," Amazon wrote in an internal memo to employees obtained by Geekwire.

The company said it plans to increase "overall compensation ranges for most jobs globally, and the increases are much more considerable than we've done in the past." The company said changes to base pay caps and compensation ranges will "affect every employee differently."

An anonymous reader shares a report: If Meta is not given the option to transfer, store and process data from its European users on US-based servers, Facebook and Instagram may be shut down across Europe, the social media giants' owner reportedly warned in its annual report. The key issue for Meta is transatlantic data transfers, regulated via the so-called Privacy Shield and other model agreements that Meta uses or used to store data from European users on American servers. The current agreements to enable data transfers are currently under heavy scrutiny in the EU. In its annual report to the U.S. Securities and Exchange Commission, Meta warns that if a new framework is not adopted and the company is no longer allowed to use the current model agreements "or alternatives," the company will "probably" no longer be able to offer many of its "most significant products and services," including Facebook and Instagram, in the EU, according to various media reports, including in iTWire, The Guardian newspaper and Side Line Magazine.

Sharing data between countries and regions is crucial for the provision of its services and targeted advertising, Meta stressed. Therefore, it previously used the transatlantic data transfer framework called Privacy Shield as the legal basis to carry out those data transfers. However, this treaty was annulled by the European Court of Justice in July 2020, because of data protection violations. Since then, the EU and the US did stress they are working on a new or updated version of the treaty.

"Facebook is threatening it will simply pull out of Europe altogether if it is no longer able to share data about European users with its U.S. operations, applications, and data centres," reports ITWire.

It's customary for regulatory filings to preemptively declare a wide variety of possible future hazards, and in that spirit a recently-filed Meta financial statement cites a ruling by the EU's Court of Justice (in July of 2020) voiding a U.S. law called the Privacy Shield (which Meta calls one legal basis for its current dara-transferring practices). Though courts are now determining the ruling's ramifications, ITWire notes that "with the European General Data Protection Regulation (GDPR) well in force, the U.S. Privacy Shield principles were found non-compliant and consequently invalid." So while that ruling affects every American company, including cloud companies like Google, Microsoft, and Amazon, it's Facebook/Meta that "says stopping transatlantic data transfers will have a devastating impact on its targeted online advertisements capabilities."

Read it yourself, in Meta's own words:

"If a new transatlantic data transfer framework is not adopted and we are unable to continue to rely on Standard Contractual Clauses [now also subject to new judical scrutiny] or rely upon other alternative means of data transfers from Europe to the United States, we will likely be unable to offer a number of our most significant products and services, including Facebook and Instagram, in Europe, which would materially and adversely affect our business, financial condition, and results of operations."

Of course, the filing also cites other hazards like the possibility of new legislation restricting Facebook's ability to collect data about minors, complaining that such legislation "may also result in limitations on our advertising services or our ability to offer products and services to minors in certain jurisdictions."

And in addition, "We are, and expect to continue to be, the subject of investigations, inquiries, data requests, requests for information, actions, and audits by government authorities and regulators in the United States, Europe, and around the world, particularly in the areas of privacy, data protection, law enforcement, consumer protection, civil rights, content moderation, and competition..."

"Orders issued by, or inquiries or enforcement actions initiated by, government or regulatory authorities could cause us to incur substantial costs, expose us to unanticipated civil and criminal liability or penalties (including substantial monetary remedies), interrupt or require us to change our business practices in a manner materially adverse to our business, result in negative publicity and reputational harm, divert resources and the time and attention of management from our business, or subject us to other structural or behavioral remedies that adversely affect our business."

(Thanks to Slashdot reader juul_advocate for sharing the story!)

Apple's privacy push could cost Meta $10 billion in lost 2022 advertising revenue — and that news alone erased $250 billion in Meta's value, notes long-time Slashdot reader theodp.

But this leads them to a thought experiment: What would happen to Meta's and Google's business models if the privacy invasion behind the companies' lucrative advertising model were actually criminalized? While there would likely still be the same massive demand for the free services provided by Meta and Google, being unable to target customers of interest to advertisers based on snooped behaviors and demographics seems likely to throw the duopoly's lucrative cost-per-click (CPC) and cost-per-thousand-impressions (CPM) advertising model that powers these free services into disarray.

So what might the end game look like for Facebook and Google in a Web world where privacy was enforced by law? One imagines the pair could try to incur the additional cost of delivering many times more untargeted impressions in an effort to reach the same number of behavior and demographic-targeted impressions desired by advertisers, assuming they could get that to work and gain advertisers' trust in the new model. But one wonders if advertisers might start diverting more ad dollars away from Meta and Google to other sources such as media providers, whose varied content naturally segments audiences and could deliver greater assurance to advertisers that more relevant viewers are being reached. Might Meta and Google pivot to become syndicators of media content and be forced to share more of the advertising loot?

And what about the Metaverse — could Meta-sponsored events and interest groups hosted there provide Meta with opportunities to naturally segment its massive user base into areas that could facilitate targeting audiences relevant to advertisers even without privacy invasion?

Finally — if worse comes to worst — would users actually pay to use Meta's and Google's services if the new advertising model failed to deliver sufficient revenue to keep services free?

Meta's stock plunged 26% Thursday — its biggest one-day drop ever, lowering its marketing valuation by more than $230 billion. And then on Friday it dropped just a little bit more.

A New York Times technology correspondent offers six reasons Meta is in trouble: User growth has hit a ceiling. The salad days of Facebook's wild user growth are over. Even though the company on Wednesday recorded modest gains in new users across its so-called family of apps — which includes Instagram, Messenger and WhatsApp — its core Facebook social networking app lost about half a million users over the fourth quarter from the previous quarter.

That's the first such decline for the company in its 18-year history, during which time it had practically been defined by its ability to bring in more new users. The dip signaled that the core app may have reached its peak. Meta's quarterly user growth rate was also the slowest it has been in at least three years. Meta's executives have pointed to other growth opportunities, like turning on the money faucet at WhatsApp, the messaging service that has yet to generate substantial revenue. But those efforts are nascent. Investors are likely to next scrutinize whether Meta's other apps, such as Instagram, might begin to hit their top on user growth....

Apple's changes are limiting Meta and Google is stealing online advertising share. Last spring, Apple introduced an "App Tracking Transparency" update to its mobile operating system, essentially giving iPhone owners the choice as to whether they would let apps like Facebook monitor their online activities. Those privacy moves have now hurt Meta's business and are likely to continue doing so...

On Wednesday, David Wehner, Meta's chief financial officer, noted that as Apple's changes have given advertisers less visibility into user behaviors, many have started shifting their ad budgets to other platforms. Namely Google. In Google's earnings call this week, the company reported record sales, particularly in its e-commerce search advertising. That was the very same category that tripped up Meta in the last three months of 2021. Unlike Meta, Google is not heavily dependent on Apple for user data. Mr. Wehner said it was likely that Google had "far more third-party data for measurement and optimization purposes" than Meta's ad platform. Mr. Wehner also pointed to Google's deal with Apple to be the default search engine for Apple's Safari browser. That means Google's search ads tend to appear in more places, taking in more data that can be useful for advertisers. That's a huge problem for Meta in the long term, especially if more advertisers switch to Google search ads.
Meta's other problems include competition from TikTok (and the problems with monetizing "Reels," Meta's own TikTok clone on Instagram), as well as pending antitrust investigations (and the way it hampers future social media acquisitions). But with Meta expected to continue spending more than $10 billion a year on virtual reality, "still the province of niche hobbyists [that] has yet to really break into the mainstream," the article also suggests its final reason for why Meta is in trouble: that "Spending on the metaverse is bonkers."

Contrary to what you may have read earlier this week, Microsoft's HoloLens is not dead. In fact, "HoloLens is doing great," says Microsoft's mixed reality head, Alex Kipman. The Verge reports: Business Insider reported on Wednesday that Microsoft has scrapped plans for HoloLens 3 in recent months and that it could be "the end of the road" for the headset. Microsoft has reportedly agreed to partner with Samsung on a new mixed reality device, a move that has apparently "inflamed divisions" that exist in Microsoft's mixed reality teams. [...] Anonymous Microsoft employees speaking to Business Insider claim there is confusion and uncertainty over the future of HoloLens inside the division that is run by Alex Kipman, technical fellow at Microsoft.

"Don't believe what you read on the internet," claims Kipman in a reply to a tweet referencing the report. "HoloLens is doing great and if you search said internet they also said we had cancelled HoloLens 2... which last I checked we shipped with success." [...] Meta, formerly Facebook, is aggressively pursuing the dream of a metaverse, and it's something Microsoft wants to build, too. "We feel very well positioned to be able to catch what I think is essentially the next wave of the internet," said Microsoft CEO Satya Nadella about the metaverse last month. "I think the next wave of the internet will be a more open world where people can build their own metaverse worlds, whether they're organizations, game developers, or anyone else."

An anonymous reader quotes a report from The Economist: Pop-up notifications are often annoying. For Meta, one in Apple's iOS operating system, which powers iPhones, is a particular headache. On February 2nd Meta, which owns Facebook and Instagram, told investors that privacy-focused changes to iOS, including the "ask app not to track" notification, would cost the company around $10 billion in 2022. That revelation, along with growing competition and sluggish growth in user numbers, helped to prompt a 23% plunge in Meta's share price and showed Apple's might. But what did Apple actually do, and why was it so costly?

The promise of digital advertising has always been its ability to precisely target people. Before the digital age, companies placed ads in places where they expected potential customers would see them, such as a newspaper, and hoped for the best. Online, companies could instead target ads based on people's browsing history and interests. This fueled the profits of companies like Meta, which held vast amounts of data on their users. For years, Apple helped by offering an "identifier for advertisers" (IDFA), giving advertisers a way to track people's behavior on its devices. Users have long been able to disable IDFA in their phones' settings. But last year, citing privacy concerns, Apple turned off IDFA by default and forced apps to ask people if they want to be tracked. It seems most do not: a study in December by AppsFlyer, an ad-tech company, suggested that 54% of Apple users who saw the prompt opted out.

This change has made digital advertising much trickier. Sheryl Sandberg, Meta's chief operating officer, told investors that the change decreased the accuracy of ad targeting and slowed the collection of data showing whether ads work. Both of these changes make "direct-response ads," which encourage consumers to take an action like clicking or purchasing, less appealing to advertisers. The financial impact on ad-sellers like Meta has been painful. The $10 billion hit estimated by Meta amounts to over 8% of its revenue in 2021. Snap, another social-media company, and Unity, a games engine which operates an ad network, also expect Apple's changes to hurt their businesses. Apple, meanwhile, is doing well: estimates suggest its own ad business has grown significantly since it introduced the app tracking pop-up. (A different pop-up, with a more persuasive sales pitch for opting-in to tracking, appears on Apple's own apps.)

Mark Zuckerberg's virtual reality business is to introduce a mandatory distance between people's digital avatars after warnings that the social media tycoon's plans for a metaverse will lead to a new wave of online harassment. From a report: Zuckerberg, the founder of Facebook, is making a multibillion-dollar bet on VR as the next source of growth for his empire but his strategy has already been dogged by warnings that virtual worlds are rife with abuse. In December a user testing Horizon Worlds, a VR app owned by Zuckerberg's Meta business, complained of being groped online and called for a protective bubble around their avatar, or digital representation of themselves. "Sexual harassment is no joke on the regular internet but being in VR adds another layer that makes the event more intense," said the user.

An anonymous reader shares a report: Mark Zuckerberg quipped that if he started to cry, it wasn't because of the day's news. His red, teary eyes were the result of a scratched cornea, the Facebook founder said Thursday, attempting to lighten the mood as Meta Platforms' stock price lost more than a quarter of its value. At a company-wide virtual meeting, Zuckerberg explained that the historic stock drop was a result of Meta's weak forecast for revenue in the current quarter, according to a person who attended and was not authorized to speak about it. It is important to focus on growing Facebook's short-video product, he said. Zuckerberg echoed his remarks of a day earlier to investors, telling employees that the social networking giant faced an "unprecedented level of competition," with the rise of TikTok, the rival viral-video platform. Meta's Instagram app has a copycat of TikTok called Reels, which the company is now prioritizing.

Employees were glued to the stock price. Facebook lost a record $251 billion of value in a single day. Some were discussing buying shares during the dip, believing in Zuckerberg's long-term vision for the metaverse, an immersive version of the internet. Others fretted about what a continued decline might mean for their net worth, according to people familiar with the matter. Zuckerberg's own wealth dropped by $31 billion. Meta is already talking about ways to retain staff amid the stock rout. The social media giant is thinking of extending existing three-day holiday weekends, Zuckerberg said, responding to a question on burnout. He also encouraged exhausted employees to use their vacation days. He added that based on his life experience, transitioning to a four-day work week all the time would not be productive.

Big tech companies whose online platforms carry advertisements for scams should be made to reimburse victims, British lawmakers said, as part of wider efforts to combat a growing epidemic of online fraud in Britain. From a report: While banks have signed up for a voluntary code to reimburse fraud victims who do enough to protect themselves, there is not sufficient regulation governing social media and other websites where victims are often first lured in, Mel Stride, chairman of the cross-party Treasury committee, told Reuters. "The government should look at some kind of arrangement that makes the polluter pay," he said. "Online platforms are hosting this stuff, not really putting enough effort into weeding it out, and indeed financially benefiting because they're getting the advertising revenues," Stride said. TechUK, a trade body that represents major tech companies in Britain, including Facebook, Twitter and Microsoft, declined to provide an immediate comment. Stride's comments came as the Treasury committee on Wednesday published the findings of a report on economic crime, which urged the government to seriously consider forcing online platforms to help to refund victims.

Meta Chief Executive Officer Mark Zuckerberg rallied his employees to focus on video products, after they watched the stock lose a quarter of its value. Bloomberg reports: At a company-wide virtual meeting Thursday, Zuckerberg explained that the historic stock drop was a result of Meta's weak forecast for revenue in the current quarter, according to a person who attended and was not authorized to speak about it. Zuckerberg echoed his remarks of a day earlier to investors, telling employees that the social networking giant faced an "unprecedented level of competition," with the rise of TikTok, the short-video platform Facebook doesn't own. Zuckerberg appeared red-eyed and wore glasses, the person said. He said he might tear up because he'd scratched his eye -- not because of the topics up for discussion.

Meta is already talking about ways to retain staff amid the stock rout. The social media giant is thinking of offering long weekends, Zuckerberg said, responding to a question on burnout. He also encouraged exhausted employees to use their vacation days. He added that based on his life experience, transitioning to a four-day work week would not be productive. Employee shares vest on Feb. 15, and manager conversations about bonuses and promotions happen in March -- both of which could be factors in workers' potential decisions to leave, according to another person familiar with the company's plans.

An anonymous reader quotes a report from Gizmodo: One of the most outspoken proponents of the metaverse is struggling to find its place in this hypothetical virtual world. Microsoft has reportedly scrapped plans to make a HoloLens 3 -- what would have been a successor to its current mixed reality headset -- and infighting within the mixed reality division has fueled uncertainty about its future, according to Business Insider. One source told Insider that the decision to abandon plans for a HoloLens 3 would mark the end of the "product as we know it." Multiple sources said Microsoft had agreed to partner with Samsung to develop a new mixed reality device, a decision that has reportedly "inflamed" division within the team. One employee called the partnership a "shit show." Insider spoke to 20 current and former employees at Microsoft who described "confusion and strategic uncertainty."

Some folks within Microsoft believe the company should continue to make hardware while others favor pivoting to a software platform for the metaverse -- that is, a Windows for the digital world. There is also a question of which customer base to target. Microsoft employees are apparently split on creating hardware and software for consumers or continuing their focus on enterprise customers. HoloLens 2, the company's latest AR/VR hardware, is a commercial product that sells for $3,500. Ruben Caballero, a former Apple executive who was hired in 2020 to join the mixed reality and AI division, reportedly wants to shift focus to consumers and the metaverse. Others within the team believe they should continue selling to businesses, and even fulfill military contracts.

LinkedIn profiles show that at least 25 Microsoft employees working on mixed reality left to join Meta last year alone, and Wall Street Journal reports the team lost around 100 people in 2021, many of them to Facebook's parent company. The HoloLens team is now uncertain about the long-term goals of the project and whether they will transition to working on a software platform. Disagreement on what to do next has made HoloLens's future unclear, though Microsoft maintains its commitment to the headset and promises to release more products in the future, "Microsoft HoloLens remains a critical part of our plans for emerging categories like mixed reality and the metaverse," said Microsoft spokesman Frank Shaw. "We remain committed to HoloLens and future HoloLens development." Despite slow progress, Microsoft has doubled down on augmented and virtual reality in recent months, claiming its $68.7 billion acquisition of Activision Blizzard will provide the "building blocks for the metaverse." Microsoft's mixed-reality plans now appear to be hanging by a thread, and its most ambitious project yet is on the brink of collapse, just as talk about the metaverse -- the future it was meant to help create -- reaches a fever pitch.

Since its inception, Facebook's user growth has essentially been up and to the right. But on Wednesday, it reported its first-ever quarterly decline of daily users globally, along with lower-than-expected ad growth that sent its stock plunging roughly 20 percent. From a report: The massive stock drop, which instantly wiped out roughly $200 billion in market value, shows that Facebook's corporate rebrand to Meta isn't enough to distract investors from the problems in its core business of social media. Not only was user growth across Facebook, Instagram, and WhatsApp essentially flat last quarter, but the main Facebook app lost 1 million daily users in North America, where it makes the most money through advertising. That drop led to an overall decrease in daily users of Facebook globally, which a company spokesperson confirmed is the first sequential decline in the company's history. That drop to 1.929 billion daily users from 1.93 billion the prior quarter is likely a reflection of Facebook's increasing lack of relevance with young people.

After a years-long process, data protection officials across the European Union have ruled that Europe's ad tech industry has been operating unlawfully. Engadget reports: The decision, handed down by Belgium's APD (.PDF) and agreed by regulators across the EU, found that the system underpinning the industry violated a number of principles of the General Data Protection Regulations (GDPR). The Irish Council for Civil Liberties has declared victory in its protracted battle against the authority which administers much of the advertising industry on the continent: IAB Europe. At the heart of this story is the use of the Transparency and Consent Framework (TCF), a standardized process to enable publishers to sell ad-space on their websites. This framework, set by IAB Europe, is meant to provide legal cover -- in the form of those consent pop-ups which blight websites -- enabling a silent, digital auction system known-as Real-Time Bidding (RTB). But both the nature of the consent given when you click a pop-up, and the data collected as part of the RTB process have now been deemed to violate the GDPR, which governs privacy rights in the bloc.

The APD has ruled that any and all data collected as part of this Real-Time Bidding process must now be deleted. This could have fairly substantial implications for many big tech companies with their own ad businesses, including Google and Facebook, as well as big data companies. It may also have a large impact on many media platforms and publishers on the continent who will now need to address the fallout from the finding. Regulators have also handed down an initial fine of 250,000 euros to IAB Europe and ordered the body to effectively rebuild the ad-tech framework it currently uses. This includes making the system GDPR compliant (if such a thing is possible) and appoint a dedicated Data Protection Officer. Until now, IAB Europe has maintained that it did not create any personal data, and said in December that it was a standards setter and trade association, rather than a data processor in its own right. IAB Europe says the ruling did not ban the use of Transparency and Consent Frameworks, adding that it's looking to reform the process and "submit the Framework for approval as a GDPR transnational Code of Conduct."

According to Engadget, [I]t may launch a legal challenge to fight the accusation that it is a data controller, a decision it says will "have major unintended negative consequences going well beyond the digital advertising industry."

Block Chief Executive Officer Jack Dorsey criticized Meta Platforms' failed cryptocurrency project, Diem, saying the company's time would have been better spent focused on advancing Bitcoin. From a report: Dorsey said Tuesday that Meta's approach to Diem, a proposed cryptocurrency formerly known as Libra that came to an unceremonious end this week, wasn't open enough. Instead, Dorsey says Meta was too focused on driving people to its own suite of products, like WhatsApp and Instagram.

"They tried to create a currency that was owned by Facebook -- probably for the right reasons, probably for noble reasons -- but there were also some reasons that would indicate trying to get more and more people onto the Facebook ecosystem," Dorsey said Tuesday at the MicroStrategy World conference. "They did that instead of using an open protocol and standard like Bitcoin. Hopefully they learned a lot, but I think there was a lot of wasted effort and time," he added. "Those two years or three years, or however long it's been, could have been spent making Bitcoin more accessible for more people around the world, which would also benefit their Messenger product and Instagram and WhatsApp."