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5 Winning Stocks That Can Make American Workers Rich by Retirement | The Motley Fool

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Key Points

  • No asset class has delivered better long-term returns than stocks.
  • Buying innovative, high-quality stocks, and holding them for long periods of time, can help working Americans retire comfortably.

There are a lot of ways for American workers to build wealth. They can shuffle money under the mattress, buy bank certificates of deposit (CD) or bonds, or purchase a house and cross their fingers that it appreciates at a faster pace than the prevailing rate of inflation. But over the long run, no investment vehicle has delivered a higher annualized return than stocks.

If you invest in great companies and allow your investment thesis to play out over many years, if not decades, stocks have the power to make the American worker rich.

Understandably, there’s no singular definition to being rich. For some people, that might mean buying their dream car or owning a boat. For others, “rich” could mean the added value of spending more time with family or not having to worry about paying their monthly bills.

A messy stack of one hundred dollar bills.

Image source: Getty Images.

By the time working Americans hit retirement, the following five winning stocks have the potential to make them rich.

Berkshire Hathaway

Sometimes, the best long-term investments are boring. That’s the case with Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B), the conglomerate that’s been run by billionaire Warren Buffett since 1965. In Buffett’s more than five decades at the helm, he’s created over $500 billion in value for Berkshire Hathaway’s shareholders and overseen an annual average return of 20%. In aggregate, we’re talking about a return of closer to 3,400,000% for the Class A shares (BRK.A), taking into account year-to-date gains.

One of the reasons Berkshire is such a successful company is its cyclical ties. A majority of the company’s nearly $323 billion investment portfolio is tied up in technology, financials, and consumer staples. These are sectors that perform really well when the U.S. and global economy are firing on all cylinders. Even though recessions are an inevitable part of the economic cycle, Buffett is keenly aware that periods of expansion last considerably longer than periods of contraction. In other words, the Oracle of Omaha is simply playing the odds.

The other key to Berkshire’s superior returns is its dividend stock ties. While Berkshire doesn’t pay a dividend, quite a few of the companies it’s invested in do. All told, my back-of-the-envelope calculation has Berkshire netting around $5.1 billion in dividend income this year. Based on its initial cost basis, this works out to a roughly 5% yield, which is insanely good, and points to the company’s likelihood of being wildly successful for many years to come.

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A surgeon holding a one dollar bill with surgical forceps.

Image source: Getty Images.

Intuitive Surgical

Businesses that have clearly identifiable and sustainable competitive advantages are also a smart place to put money to work. Surgical-assisted robotic systems developer Intuitive Surgical (NASDAQ:ISRG) is a perfect example of a company with a dominant presence that can make American workers rich.

When the first half of 2021 came to a close, Intuitive Surgical had 6,335 of its da Vinci surgical systems installed worldwide (although most are in the United States.). You could add up all of the company’s competitors, and you still wouldn’t come close to the number of surgical systems Intuitive has installed. Between the high cost of these systems ($0.5 million to $2.5 million), the training provided to surgeons, and the rapport built up over the past 20 years, Intuitive Surgical is effectively locking in its clients for a long time.

More importantly, Intuitive Surgical is designed to improve its operating margins over time. This is a fancy way of saying that earnings growth can outpace sales growth for years, if not decades, to come.

Initially, selling its da Vinci systems made up the bulk of the company’s revenue. But these are intricate systems to build, which meant margins weren’t all that great. As time has passed, most of Intuitive’s sales are now derived from instruments sold with each procedure and the servicing of its systems. These are higher-margin categories and the company’s ticket to a growing bottom line.

A person inserting a credit card into a Square point-of-sale device.

Image source: Square.

Square

If you want unbridled innovation, look no further than fintech stock Square (NYSE:SQ). Despite its huge run since the pandemic low in March 2020, it has all the tools needed to eventually become a $1 trillion company.

Square’s foundational segment continues to be its seller ecosystem. This is what provides point-of-sale devices, analytics, loans, and other tools to help merchants successfully grow their business. In the seven years leading up to the pandemic, gross payment volume (GPV) catapulted from $6.5 billion to $106.2 billion. This year, GPV should easily clear $140 billion.

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Something interesting to note about the seller ecosystem is that it’s not just for small merchants any longer. In the June-ended quarter, 65% of all GPV derived from sellers with at least $125,000 in annualized GPV. That’s up 10 percentage points from the comparable period in 2019. Since this is a merchant fee-driven segment, bigger merchants mean more gross profit.

However, all eyes are on digital peer-to-peer payment platform Cash App, which more than quintupled its monthly active user count in three years. Cash App broadens Square’s ability to generate revenue, and it brought in $55 in gross profit per user in the second quarter, compared to an acquisition cost per user of only around $5. These insane margins should power Square’s valuation a lot higher.

A person typing on a laptop while inside a cafe.

Image source: Getty Images.

Pinterest

Another winning stock with the potential to make American workers rich by retirement is social media up-and-comer Pinterest (NYSE:PINS).

Though a lot of emphasis has been placed on Pinterest’s monthly active user (MAU) retracement in the second quarter, this near-term blip overlooks some very core and positive trends. For instance, user growth regressed in Q2 2021, but it remains well within historic norms, if examined over a three-year period.

What’s far more important is that Pinterest’s average revenue per user (ARPU) continues to soar. Despite the sequential quarterly MAU retracement in Q2, global ARPU rose 89% year over year, with international ARPU up an even more impressive 163%. What this tells us is that merchants are willing to pay up to reach Pinterest’s MAU base of 454 million people. That’s a lot of potentially motivated people, and merchants know it.

Ultimately, Pinterest is still in the early innings of monetizing what could become a top e-commerce platform. Whereas most social media requires advertisers to somewhat guess about the interests of users, Pinterest’s MAUs are willingly sharing the places, services, and things that interest them. All Pinterest has to do is keep users engaged for its middleman e-commerce platform to work its magic.

See also  Will Pinterest Be Worth More Than Snap by 2030? | The Motley Fool

A woman wearing a headset and speaking to a customer while at her desk.

Image source: Getty Images.

Salesforce

A fifth and final winning stock that can help working Americans retire rich and on their own terms is cloud-based customer relationship management (CRM) software provider Salesforce.com (NYSE:CRM).

In simple terms, consumer-facing businesses use CRM software to enhance customer relationships and improve sales. Aside from accessing and logging real-time client info, CRM software is used to manage online marketing campaigns, handle service issues, and run predictive analyses on a company’s existing client base.

If you’re wondering where Salesforce fits into the CRM space, it’s the clear-cut alpha. In the first half of 2020, IDC found that practically $0.20 of every $1 spent globally on CRM was through Salesforce. The company’s four largest competitors don’t even add up to Salesforce’s market share in the CRM space. Translation: The company’s position as an industry leader is very secure.

Salesforce CEO Marc Benioff has also done an exemplary job of expanding via acquisition. The purchases of MuleSoft, Tableau, and, more recently, Slack Technologies have helped to expand its customer-centric ecosystem and appeal to a larger swath of small and medium-sized businesses. With Benioff calling for $50 billion in annual sales by fiscal 2026 (Salesforce reported $21.3 billion in sales in fiscal 2021), it’s a good bet to outperform for investors.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Sean Williams owns shares of Intuitive Surgical, Pinterest, and Square. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares), Intuitive Surgical, Pinterest, Salesforce.com, and Square. The Motley Fool recommends the following options: long January 2022 $580 calls on Intuitive Surgical, long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2022 $600 calls on Intuitive Surgical, short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.

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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.

See also  Pinterest Launches Pinterest Ads in Brazil, Continuing Latin American Expansion

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
See also  Pinterest Launches Pinterest Ads in Brazil, Continuing Latin American Expansion

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  Irish merchants can now use the Shopify Pinterest channel

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
See also  Social Networks Software Market to Witness Robust Expansion by 2025– Top Key players like ...

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.

See also  Why Start-ups Are Inclined to Social Media App Development | Keeper Facts

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.

See also  Irish merchants can now use the Shopify Pinterest channel

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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