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WSJ Tech News Briefing

TNB Tech Minute: Meta Plans to Offer Less Personal Ads in Europe

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.61.6K Ratings

🗓️ 12 November 2024

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus, 23andMe lays off 40% of its staff. And SoftBank returns to profit. James Rundle hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Snakes, zombies, public speaking, the list of fears is endless. But the real danger is in your

0:06.2

hand when you're behind the wheel. Distracted driving is what's really scary and even deadly.

0:11.4

Eyes forward. Don't drive distracted. Brought to you by NHTSA and the Ad Council.

0:16.9

Here's your TMB Tech Minute for Tuesday, November the 12th. I'm James Rundle for The Wall Street Journal.

0:23.1

We're exclusively reporting that META is changing how it delivers ads to Facebook and

0:27.6

Instagram users in the European Union by making them less personal.

0:31.9

European users must currently pay a fee to access an ad-free version of META's products

0:36.0

or agree to highly targeted ads.

0:38.8

They will soon be able to choose advertising options that only pull in data from the current

0:42.7

browsing session, along with a few other identifiers such as age and location in free versions.

0:49.0

The launch of the subscription model earlier this year prompted European regulators to charge

0:53.0

meta with violating the EU's

0:55.1

new competition war and triggered an investigation. Meta will also cut the price of its monthly

1:00.3

subscription fee as part of the change. The company said that its changes meet EU regulator demands

1:05.6

and go beyond what's required by EU law. A spokeswoman for the European Commission said the investigation is still

1:11.9

ongoing. DNA testing company 23M. Me says that it's firing more than 200 people and shutting

1:18.4

down its drug development arm, once seen as crucial to the company's future. The company said

1:23.7

that the restructuring will save at $35 million annually. CEO Amogiski had seen drug

1:30.1

development as a way to profit from the company's vast trove of data from its core consumer

1:34.6

business, which is unprofitable. 23MEs development unit had been conducting human

1:39.6

trials for two of its drugs, which the company said it would wind down and attempt to sell.

1:45.2

And Technology Investment Giant Softbank says it returned to a net profit for the three months

...

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