meta

• Meta survey: 58% of consumers purchased a product in the past six months because of a creator’s recommendation
• The FTC says social media is rife with crypto scams—and victims are losing hundreds of millions of dollars

  In 2021, people lost more than $1 billion to cryptocurrency scams. That’s more than 60 times what they reported losing in 2018.

  
• Meta hopes “platform agnostic” creators will flock to its events at VidCon

  Meta will increase its presence at VidCon and will use the convention to sell creators on Instagram Reels and Facebook's VR efforts.

  
• TikTok, Meta, Snap, and YouTube are waiving their rainbow flags for Pride Month

  Meta, YouTube, TikTok, and Snap have Pride Month. Creators like Patrick Starr, Megan Mitchell, Zaya Perysian, and Halsey are involved.

  
• TikTok’s Cannes Film Festival partnership has hit some major speed bumps
• Facebook’s giving up on podcasts, its Clubhouse copycat, and apparently audio as a whole
• Instagram users now spend 20% of their time on the app watching Reels
• Companies like Google and Meta could face billion-dollar fines if they don’t comply with a new European Union law
• Instagram is testing the ability to make Reels from preexisting templates
• Meta and Spotify are shifting resources away from their Clubhouse competitors
• Spring has hired a Facebook alum as its President and Chief Operating Officer
• Dispo among those hit by “burdensome, overbroad, vexatious and harassing” subpeona from Meta