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Tech Stocks Roundup: Cramer Likes Facebook, Snap and Roku

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Square  (SQ) – Get Report agreed to a $29 billion deal for Afterpay in an all-stock acquisition and Jim Cramer called the acquisition “brilliant,” noting that analysts love the deal as well.

“What’s the best way to make money in the stock market? Find out what millennials want and give it to them,” Cramer told his Mad Money viewers Monday. “Services like ‘buy now, pay later’ are red-hot with millennials, and that’s why Square’s acquisition of an Australian payments rival was so well received.

Square said that “buy now, pay later” represents a huge opportunity for the company, as deferred payments still only account for 2% of total online sales. While shares initially dipped on the news, they closed up a stunning 10.1% by the close.

Over on Real Money, Cramer says the truth is, “you can’t get at these people the way traditional marketers work, because many of the customers of these companies simply hate anything traditional in the financial space.” Read his Real Money column for more investment insights and trading ideas.

When Twitter  (TWTR) – Get Report and Snap  (SNAP) – Get Report reported earnings this past week, shares soared. But when Facebook  (FB) – Get Report and Pinterest  (PINS) – Get Report released their earnings, things got confusing, wrote TheStreet’s Scott Rutt. Now that all of the social media results are in, Cramer says it’s time to take a second look at the group.

Of the 269 companies reporting June-quarter earnings, 88.5% have topped Wall Street forecasts, and while some forward guidance — particularly from the biggest tech companies such as Apple  (AAPL) – Get Report, Amazon  (AMZN) – Get Report and Facebook — was modestly disappointing, third-quarter earnings are still forecast to rise by 29.7% to a share-weighted $414 billion.

Here is a breakdown list of the technology and FAANG stocks to watch right now based on their performance over the past week:

Facebook

Facebook easily beat earnings and revenue expectations seeing 100% earnings growth but gave investors cautious guidance that noted decelerating growth and headwinds ahead. The social media company has been a huge winner so far this year, wrote TheStreet’s Bret Kenwell. While the quarter was solid, the guidance was not, which does leave us with some risk in the stock, according to Kenwell. However, the trend is still to the upside, so until that changes — perhaps it becomes a downtrend or maybe it results in some sideways chop — bulls will be hesitant to alter their strategy.

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Cramer said Facebook is a steal at just 22 times earnings.

TheStreet Quant Ratings rates Facebook as a Buy with a rating score of A-.

Snap

After years of stumbling, Snap has found its groove, delivering 116% sales growth and a 10-cents-a-share earnings beat. Cramer said Snap told an amazing story and has more room to run.

TheStreet Quant Ratings rates Snap as a Hold with a rating score of C-.

Apple

Apple Inc. moved higher this past week after the world’s most valuable tech company filed plans to raise billions in the bond market that could be used to boost shareholder returns. In papers filed with the Securities and Exchange Commission, Apple said it may sell four different notes, ranging in maturities from seven to 40 years, with proceeds directed to “general corporate purposes, including repurchases of our common stock and payment of dividends under our program to return capital to shareholders, funding for working capital, capital expenditures, acquisitions and repayment of debt.”

Cramer appears to be even more favorable to an investment in Apple shares. The reason: the stock could weather fears over the resurgence of COVID-19 cases better than others, wrote TheStreet Apple Maven’s Daniel Martin.

TheStreet Quant Ratings rates Apple as a Buy with a rating score of A.

Uber

Uber Technologies, Inc.  (UBER) – Get Report posted mixed second-quarter financial results. The ride-sharing giant topped Wall Street forecasts with earnings of 58 cents a share on revenue of $3.9 billion. However, the company’s adjusted EBITDA came in at a negative $509 million, wider than expected. The company had been expected to report a loss of 52 cents a share, on sales of $3.8 billion, based on a FactSet survey of 29 analysts. In the same period a year ago the company posted a loss of $1.02 a share on sales of $2.2 billion. 

Cramer said that Uber Technologies is “a tremendous, tremendous way to measure the economy.” Cramer said that during the company conference call, CEO Dara Khosrowshahi discussed how driver shortages were linked to employment benefits.

TheStreet Quant Ratings rates Uber as a Sell with a rating score of D.

Zoom

Zoom Video Communications  (ZM) – Get Report reached a preliminary settlement on a user privacy lawsuit this past week, agreeing to pay $85 million and improve its security and privacy practices. The proposed settlement would resolve a class-action lawsuit filed in April 2020 in the U.S. District Court for the Northern District of California alleging that Zoom violated user privacy rights by sharing personal data with Facebook, LinkedIn and Alphabet-owned Google  (GOOGL) – Get Report, as well as allowing the practice of Zoombombing during Zoom meetings. The settlement requires approval from U.S. District Court Judge Lucy Koh, according to a Reuters report.

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TheStreet Quant Ratings rates Zoom as a Sell with a rating score of D+.

Roku

Shares of Roku  (ROKU) – Get Report dropped after the media-streaming company topped second-quarter earnings and revenue estimates but fell short on active accounts and streaming hours. Roku reported 55.1 million active accounts, a 28% year-over-year increase. But Wall Street’s analysts were looking for 55.7 million active users.

Cramer recently said that he remains a fan of Roku.

TheStreet Quant Ratings rates Roku as a Hold with a rating score of C.

Pinterest

Pinterest shares plunged this past week after the image-sharing social media group reported disappointing gains in active users that overshadowed an otherwise solid second-quarter earnings report.

Cramer said Pinterest was the toughest quarter to evaluate. The company’s active user count shrank, and it is also seeing engagement headwinds post-pandemic. Cramer put Pinterest in the penalty box and said it shouldn’t be bought until further notice.

TheStreet Quant Ratings rates Pinterest as a Sell with a rating score of D+.

Microsoft

Microsoft  (MSFT) – Get Report said that starting next month, it would require employees to show proof they are vaccinated against COVID-19 before they can enter any company facility in the U.S. The move comes as the software titan joins a growing list of companies bolstering their policies in the wake of a resurgence of coronavirus cases. Microsoft also said its U.S. facilities will fully reopen no earlier than Oct. 4. The previous plan was to reopen on Sept. 7.

The Street Quant Ratings rates Microsoft as a Buy with a rating score of A.

Amazon

Amazon.com may face a second unionization vote at an Alabama facility, the Retail, Wholesale and Department Store Union said in a statement. A National Labor Relations Board hearing officer “determined that Amazon violated labor law,” according to the statement. The officer has recommended that the regional director set aside the results of the April vote and direct a second election be held, according to the statement. Amazon vowed to appeal the recommendation. The company won the bitterly contested election in April. 

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TheStreet Quant Ratings rates Amazon as a Buy with a rating score of B.

Netflix

Netflix missed on earnings expectations despite reporting global net subscriptions ahead of estimates. The streaming giant reported earnings of $2.97 a share on revenue of $7.34 billion. Analysts were expecting the company to report earnings of $3.18 a share on revenue of $7.32 billion.

“If you focus on Netflix, you’re missing the bigger picture of corporate America doing very well,” said Cramer, who maintained he’s been “a huge backer of Netflix for ages.”

Cramer told Action Alerts PLUS senior analyst Jeff Marks that the company’s earnings call didn’t make Netflix seem like the growth stock it has been in the past. 

TheStreet Quant Ratings rates Netflix as a Buy with a rating score of B.

Alphabet

Alphabet’s Google  (GOOGL) – Get Report announced two new smart phones that will debut this fall and will include Google’s own semiconductors. In the past, Google used chips from Qualcomm  (QCOM) – Get Report. The Pixel6 and the Pixel6 Pro will contain “Google Tensor, the brand new chip designed by Google, custom-made for Pixel,” the company tweeted.

Google worked on the Tensor chip for four years, and Alphabet Chief Executive Sundar Pichai labeled it the “biggest innovation in Pixel we’ve made to date.”

TheStreet Quant Ratings rates Alphabet as a Buy with a rating score of A.

Square

Shares of Square  (SQ) – Get Report were trading lower in Monday’s premarket session, but have since rebounded. The move came after the company’s largest acquisition, as Square agreed to a $29 billion deal for Afterpay in an all-stock acquisition. “Investors using longer-term targets may consider the 138.2% and 161.8% extensions should Square stock push above $300,” according to TheStreet’s Bret Kenwell.

The Street Quant Ratings rates Square as a Hold with a rating score of C.

Microsoft, Facebook, Apple, Amazon and Alphabet are holdings in Jim Cramer’s Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells these stocks? Learn more now

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Social Media Marketing Trends To Watch In 2022

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Marketers aren’t clairvoyant but they can keep a finger on the pulse of trends. To help brands stay ahead of the competition, HubSpot Blog surveyed more than 1,000 global marketers from B2B and B2C brands and a handful of industry experts to create a 2022 marketing trends guide, covering privacy and AI to social media and SEO. Ahead we break down HubSpot’s findings on social media marketing trends.

As HubSpot notes, 79 percent of Americans have some type of social media account while there are 3.7 billion social media users worldwide, making it a regular part of people’s lives and a critical tool in enhancing any marketing strategy.

Live Content Will Be A Leading Social Media Format

Among the social media marketers HubSpot polled, 68 percent reported that audio chat rooms such as Clubhouse are the most effective social media content while 59 percent report the same for live video.

Ninety-six percent of those investing in live audio content intend on spending the same amount or more on it through 2022. Live video, on the other hand, is reported by 9 percent of respondents as driving the largest return on investment (ROI) of all social media formats. These formats enable brands to connect directly with audiences in a meet-them-where-they-are context while discussions range from current issues and events to the brand’s stance on those issues to the products and services themselves. 

The authenticity and dynamic nature of this format can’t be matched as heart-to-heart conversations may be interspersed with expert opinions, Q&A-style discussions, how-tos and entertainment.

TikTok Will Continue To Gain Brand Interest

TikTok began to go viral roughly three years ago, sparking a new medium through which brands can connect with audiences without sounding sales-y. The social media app now boasts 1 billion global users and caters to a vast array of audiences. Having recently launched a number of advertising and marketing features for businesses and creators, TikTok has positioned itself front-and-center in the race to secure the highest quality content, the highest number of users and creators and brands that will continue engaging with it for marketing purposes.

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Sixty-seven percent of marketers intend on increasing their TikTok investment in 2022 and 10 percent of marketers who employ some sort of social media into their overall marketing strategy intend on investing the most in TikTok throughout 2022.

Most Marketers Will Concentrate On Three To Five Social Media Platforms

Of those social media marketers polled, 64 percent use three to five platforms, 11 percent use one or two, and 7 percent use seven or more. Managing three to five platforms allows brands to expand their reach to a variety of audiences while allowing for their marketers to engage with each one without exhausting their bandwidth or producing low-quality content.

In order for a brand to determine how many platforms to be on, i.e., how able a social media marketing team will be at building an effective and engaging strategy, HubSpot suggests answering the following:

  • How many social media marketers are on your team?
  • Which social media platforms have audiences that best align with your brand’s targets?
  • How much time will it take to master a strategy on each of the platforms?
  • Which platforms, if any, will not benefit the overall marketing strategy right now?
  • Which platform’s content, if any, can be easily repurposed? (such as TikTok and YouTube Shorts)

Influencer Marketing Will Evolve From Trend To Common Marketing Tactic

When HubSpot asked global marketing professionals which trends they planned to invest in for 2022, 34 percent said influencer marketing, ranking it first and above other trends like mobile web design and short-form video marketing.

While 57 percent of respondents that currently leverage influencer marketing say influencer marketing is effective, 46 percent of them plan to increase their investments in 2022. Additionally, 11 percent say influencer marketing is the top ROI-generating trend they’ve tested.

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More than 56 percent of marketers who invest in influencer marketing work with micro-influencers, according to HubSpot.

Video Marketers Will Keep Content Short

HubSpot found that short-form content is the second most effective trend marketers are currently utilizing. Short-form content requires less bandwidth and aligns well with the fast-paced attention spans of online audiences in a variety of demographics

More than 31 percent of global marketers currently invest in short-form video content, 46 percent of them consider the strategy effective when it comes to performance and engagement. In addition, next year 89 percent of global marketers plan to continue investing in it or increase their investment.

Permanent Social Media Posts Could Overtake Ephemeral Content

Brands have observed that permanent social media content—namely standard posts, videos and live events that live on a platform’s feed and can be viewed again days later—might be more effective than ephemeral content such as Instagram Stories and Snapchat.

HubSpot’s survey results show that 44 percent of global marketers plan to increase their investment in permanent social media content, while 8 percent say it generates the most ROI compared to other marketing strategies they leverage. Meanwhile, 25 percent of respondents cited ephemeral content as the “least effective” trend they invested in.

Lastly, 37 percent of marketers said they plan to decrease their investment in ephemeral content.

However, HubSpot cautions against writing off ephemeral content completely as it can still provide other brand awareness benefits and unique content experiences.

According to Kelly Hendrickson, a social media marketing manager at HubSpot, Instagram Stories’ fleeting design and fun editing options give brands a new strategy for producing content that varies from their other social media content.

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“Instagram can organically serve up a wall post across a wide span of time, so there’s less of an opportunity for brands to be timely (who wants to see New Year’s post when they’ve already given up on their resolutions?!). Since Instagram users are more active on weekdays, during the standard workday, it seems users are looking for a break,” Hendrickson said.

Hendrickson urges marketers to remember that the combination of a running clock and a lively audience presents a big opportunity for brands to lean into quick, in-the-moment content that showcases the light-hearted side of their brand, adding that succinctness and clarity are key in content.

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Getting the Most Out of Shopify

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The growth of your online business in Shopify significantly depends on how well you use the e-commerce platform. Unfortunately, it’s not as easy as it sounds. There’s a lot of competition in the e-commerce industry itself, and it requires patience, intentionality and transformational skills to move to the top right in the categories where you compete. Many marketers who use Shopify for eCommerce encounter strategic and tactical issues using the platform. At TopRight, we’ve studied the most common issues facing marketing executives and we provide tips and techniques to help you get the most out of Shopify. Here are a few of the most common marketing challenges you could encounter while using Shopify:

  • Mediocre sales conversion
  • Insufficient traffic to your site
  • Difficulty interpreting Shopify analytics
  • Unrealistic predictions of sales and traffic
  • Misalignment of inventory management
  • Failure to target and identify customers

Importance of a Clear Marketing Strategy

Your marketing strategy acts as a playbook for your business and how you make investments in you Shopify store. It helps keep your business pointed in the right direction and allows you to make informed decisions. Without a strategic marketing playbook, it’s easy to get lost and encounter obstructions. A stragegic playbook can help guide you to responding to challenges and navigating barriers you may encounter with your Shopify store. Specifically, it can help you:

  • Estimate sales potential
  • Promote your goods and services better
  • Attract new customers
  • Maintain good connection with existing customers

Tips on How to Get the Most Out of Shopify

Of course, understanding the analytics on your store isn’t sufficient to assure success. You need to turn data into insight and devise strategies to drive traffic and conversions. Here are a few tips to guide you through the development of a winning marketing strategy to get the most out of Shopify.

1. Invest in Your Own Shopify App

Most successful Shopify merchants have optimized their app to tell their brand story. A Shopify app is a powerful way to give customers a reason to care about your store and the products you offer. Your brand story also helps you build connections and engage with other prospects on other ecommerce platforms and social media sites. Making this simple investment enables you to connect, reach and engage more potential customers.

If building your own app is an obstacle, you can use tools like Pocketfied – an easy app builder that lets you conveniently manage your store. You can have your own published app within a day, even if you don’t have any design and coding skills.

2. Use Shopify Resources

Shopify offers resources to help you become a more effective marketer and entrepreneur. It provides guides, podcasts, and even an eCommerce University to learn new skills. Use these resources to learn more about the Shopify platform and get ideas on how to work on the platform more effectively and efficiently.

3. Promote Your Store on Social Media

Social media networks like Facebook, Pinterest and Twitter represent significant opportunities for you to boost brand awareness and drive traffic to your store. However, social media marketing is highly saturated – it take a lot to stand out from the crowd. Many Shopify merchants use social media to showcase their goods and services. You need to develop a good and structured approach to get an edge and drive results.

  • Make a business page or account on all relevant social platforms.
  • Follow accounts and market to users within your target audience.
  • Integrate your shop in your accounts so shoppers can easily buy without leaving the social platform
  • Post meaningful content regularly including: videos that showcase your products; special pricing promotions; new product launches; and private/ exclusive store events
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4. Leverage Email Marketing

Email remains one of the best ways to connect and engage with customers. When properly used (not abused), emails can serve as the backbone of your customer conversion strategy customer conversion strategy. Here are a few tips on how to use it appropriately:

  • Be creative with your emails so you can easily attract interest and give people a reason to care
  • Send out cart abandonment details to remind customers about incomplete or unfinished transactions.
  • Be professional and respectful – don’t send too many promotional emails. Thoughtless interruptions drive customers away.

5. Create a Website and Start Blogging

Write compelling content that will attract and encourage readers to go to your store and check out your products. Don’t just focus on your products and services. Make content about related topics and issues where you can smartly and smoothly promote your products. Think about topics that would be of interest and value to your audience. Content can be a gift if it is positioned properly with your customers.

Research what your customers care about, what they want or what unmet needs they may have. Again, don’t overload your blog with sales messages and stories about your business. Instead, focus on the relevance of your products to your customers’ lifestyles. What can you do to make them the hero of your brand story?

6. Invest in Paid Advertisements and Affiliations

Depending on your budget, be sure to set aside some money for paid advertisements. Online advertisements, clickable or not, will drive traffic to your store and boost your store’s visibility. These are usually posted on online platforms like social media sites like Facebook, Instagram, Pinterest, etc. Additionally, you can use Google Ads to get your store to appear on the top page of search results.

You can also develop affiliations with other Shopify stores and businesses so they’ll help promote your store and products. For a small percentage of a transaction, an affiliate marketer with help will drive traffic and potential customers to your store. However, remember that you’ll be sharing your revenues or paying them for their cooperation!

The Takeaway

Story, Strategy and Systems alignment can be a heavy lift when you launch a Shopify store. There are many pitfalls and issues you may encounter. But if you focus on telling a simple story, formulating a clear strategy, and leveraging Shopify best practices, you can navigate these challenges and successfully give your customers a reason to care, listen, engage and buy from your store.

See also  Social Purchasing Market– A comprehensive study by Key Players: Pinterest, Milyoni, Living ...

The growth of your online business in Shopify significantly depends on how well you use the e-commerce platform. Unfortunately, it’s not as easy as it sounds. There’s a lot of competition in the e-commerce industry itself, and it requires patience, intentionality and transformational skills to move to the top right in the categories where you compete. Many marketers who use Shopify for eCommerce encounter strategic and tactical issues using the platform. At TopRight, we’ve studied the most common issues facing marketing executives and we provide tips and techniques to help you get the most out of Shopify. Here are a few of the most common marketing challenges you could encounter while using Shopify:

  • Mediocre sales conversion
  • Insufficient traffic to your site
  • Difficulty interpreting Shopify analytics
  • Unrealistic predictions of sales and traffic
  • Misalignment of inventory management
  • Failure to target and identify customers

Importance of a Clear Marketing Strategy

Your marketing strategy acts as a playbook for your business and how you make investments in you Shopify store. It helps keep your business pointed in the right direction and allows you to make informed decisions. Without a strategic marketing playbook, it’s easy to get lost and encounter obstructions. A stragegic playbook can help guide you to responding to challenges and navigating barriers you may encounter with your Shopify store. Specifically, it can help you:

  • Estimate sales potential
  • Promote your goods and services better
  • Attract new customers
  • Maintain good connection with existing customers

Tips on How to Get the Most Out of Shopify

Of course, understanding the analytics on your store isn’t sufficient to assure success. You need to turn data into insight and devise strategies to drive traffic and conversions. Here are a few tips to guide you through the development of a winning marketing strategy to get the most out of Shopify.

1. Invest in Your Own Shopify App

Most successful Shopify merchants have optimized their app to tell their brand story. A Shopify app is a powerful way to give customers a reason to care about your store and the products you offer. Your brand story also helps you build connections and engage with other prospects on other ecommerce platforms and social media sites. Making this simple investment enables you to connect, reach and engage more potential customers.

If building your own app is an obstacle, you can use tools like Pocketfied – an easy app builder that lets you conveniently manage your store. You can have your own published app within a day, even if you don’t have any design and coding skills.

2. Use Shopify Resources

Shopify offers resources to help you become a more effective marketer and entrepreneur. It provides guides, podcasts, and even an eCommerce University to learn new skills. Use these resources to learn more about the Shopify platform and get ideas on how to work on the platform more effectively and efficiently.

3. Promote Your Store on Social Media

Social media networks like Facebook, Pinterest and Twitter represent significant opportunities for you to boost brand awareness and drive traffic to your store. However, social media marketing is highly saturated – it take a lot to stand out from the crowd. Many Shopify merchants use social media to showcase their goods and services. You need to develop a good and structured approach to get an edge and drive results.

  • Make a business page or account on all relevant social platforms.
  • Follow accounts and market to users within your target audience.
  • Integrate your shop in your accounts so shoppers can easily buy without leaving the social platform
  • Post meaningful content regularly including: videos that showcase your products; special pricing promotions; new product launches; and private/ exclusive store events
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4. Leverage Email Marketing

Email remains one of the best ways to connect and engage with customers. When properly used (not abused), emails can serve as the backbone of your customer conversion strategy customer conversion strategy. Here are a few tips on how to use it appropriately:

  • Be creative with your emails so you can easily attract interest and give people a reason to care
  • Send out cart abandonment details to remind customers about incomplete or unfinished transactions.
  • Be professional and respectful – don’t send too many promotional emails. Thoughtless interruptions drive customers away.

5. Create a Website and Start Blogging

Write compelling content that will attract and encourage readers to go to your store and check out your products. Don’t just focus on your products and services. Make content about related topics and issues where you can smartly and smoothly promote your products. Think about topics that would be of interest and value to your audience. Content can be a gift if it is positioned properly with your customers.

Research what your customers care about, what they want or what unmet needs they may have. Again, don’t overload your blog with sales messages and stories about your business. Instead, focus on the relevance of your products to your customers’ lifestyles. What can you do to make them the hero of your brand story?

6. Invest in Paid Advertisements and Affiliations

Depending on your budget, be sure to set aside some money for paid advertisements. Online advertisements, clickable or not, will drive traffic to your store and boost your store’s visibility. These are usually posted on online platforms like social media sites like Facebook, Instagram, Pinterest, etc. Additionally, you can use Google Ads to get your store to appear on the top page of search results.

You can also develop affiliations with other Shopify stores and businesses so they’ll help promote your store and products. For a small percentage of a transaction, an affiliate marketer with help will drive traffic and potential customers to your store. However, remember that you’ll be sharing your revenues or paying them for their cooperation!

The Takeaway

Story, Strategy and Systems alignment can be a heavy lift when you launch a Shopify store. There are many pitfalls and issues you may encounter. But if you focus on telling a simple story, formulating a clear strategy, and leveraging Shopify best practices, you can navigate these challenges and successfully give your customers a reason to care, listen, engage and buy from your store.

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Ifeoma Ozoma: US tech whistleblower helping others speak out

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Being a whistleblower comes down to careful preparation but also an eye trained for dirty tricks, said Ifeoma Ozoma, an ex-employee of several Silicon Valley giants turned revealer of tech world wrongdoing.

“I planned it like a program or product launch. Obviously the experience is something very personal, but I approached it like work,” she told AFP.

While Facebook whistleblower Frances Haugen has become a figurehead for the fight against social media’s faults, there are others in the tech world, like Ozoma, who have also taken big risks to stand up.

An African-American, former policymaker relations specialist for Google, Pinterest and Facebook, she continues to work for ethics in tech, but from the outside, via her consulting firm Earthseed.

She has marked a first big success via the recent adoption in California of a law she co-sponsored, called “Silenced No More.”

Starting in January, this law will prohibit employers from using confidentiality clauses to prevent victims of harassment or discrimination in the workplace from speaking out.

In mid-October, she posted online a guide for whistleblowers.

“The difference with tech companies and other industries is on the power that they wield, but also they pretend they’re better for workers, consumers, society than more traditional industries,” she told AFP. “That’s just not borne out in reality.”

– Keep the emails –

A Yale University graduate in political science, the 29-year-old was born in Alaska to Nigerian immigrants.

She left Pinterest at the end of May 2020, with six months of salary, after months of making complaints internally and also to the state of California, accusing the social network of discrimination and racist retaliation.

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She said the company paid her less than if she had been a man, but she also complained about their lack of action after a colleague posted her personal details online to expose her to anonymous harassment.

In mid-June 2020, as the Black Lives Matter anti-racism movements were in full swing in the United States, her damning account on Twitter of her experience sparked a scandal for the company that had largely avoided controversy.

“Pinterest, told a number of reporters that the CEO had no knowledge of me being doxxed… and I was essentially making up a story about him being aware,” Ozoma said.

“I knew that it was something that would probably come up later. And so I had the emails,” she added.

The accused firms try to discredit whistleblowers by many means, said Libby Liu, the director of Whistleblower Aid which is working with Haugen.

“They will throw up against the wall every discrediting thing they can think of, through like every media organization on the face of the Earth,” she added.

– Losing their health insurance –

The whistleblowers that come forward often have a lot to lose.

“Just one example here in the United States — because our health care is tied to our employment — when you decide to whistle blow, you’re also making a decision for yourself and for your family to lose access to your health insurance,” Ozoma said.

“That is not a small thing to ask of people,” she added.

Whistleblower leaks and damning media reports have tarnished Big Tech’s image, but they have had limited tangible consequences for Silicon Valley.

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In fact, Haugen’s oft-repeated accusation that Facebook puts profits over safety is not entirely new.

“There are countless nonprofit organizations and reporters, who reported on the exact same thing for years,” said Ozoma. “It remains to be seen whether anything fruitful will come of it.”

But from anti-sexism protests at Google in 2018 to warnings from former top Facebook officials, the pressure for change is steady.

After Ozoma spoke out at Pinterest, other female workers did too.

The company paid $22 million in December 2020 to Francoise Brougher, its white, former COO to settle a gender discrimination lawsuit.

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