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Mark Zuckerberg Loses $7B After Facebook, WhatsApp, Instagram Suffer Global Outage

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Facebook Founder Zuckerberg Loses $711m In Eght Hours

Social media mogul Facebook CEO Mark Zuckerberg’s personal wealth slipped as he lost nearly $7 billion in a few hours after Facebook, WhatsApp and Instagram suffered a global outage on Monday.

Zuckerberg also slipped to the 5th spot in the billionaires’ list after facebook stocks plunged due to the global outage.

Zuckerberg, with a total wealth of $121.6 billion, has fallen behind Bill Gates, according to a Bloomberg report.

Interestingly, some companies pulled advertising from Facebook Inc.’s network after the social media giant apps like WhatsApp, Instagram and messenger suffered a major global outage yesterday, the report added.

Meanwhile, Zuckerberg has apologised for the disruption and stated that services are returning online on Tuesday.

READ ALSO: Facebook Partners Others To Check Fake News

In its Facebook post, Zuckerberg said, “Facebook, Instagram, WhatsApp and Messenger are coming back online now,”

“Sorry for the disruption today — I know how much you rely on our services to stay connected with the people you care about,” he said.

Similarly, WhatsApp, in its Twitter handle, said, “Apologies to everyone who hasn’t been able to use WhatsApp today. We’re starting to slowly and carefully get WhatsApp working again. Thank you so much for your patience. We will continue to keep you updated when we have more information to share.”
(Outlook)

 

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Facebook Founder Zuckerberg Loses $711m In Eght Hours

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Facebook Founder Zuckerberg Loses $711m In Eght Hours

In just eight hours on Wednesday, Facebook founder, Mark Zuckerberg, lost N317.52 billion ($711 million) after his company, Meta Platforms Inc, was accused of replicating a technology idea to which its executives had been privy .

The allegation was made by HaptX Inc. founder and Chief Executive Officer, Jake Rubin. The company specialises in creating gadgets for augmented reality (AR) and virtual reality (VR) with microfluidic haptic.

Microfluidic haptic feedback, such from the glove, uses actuators, allowing for more natural or smooth sensations in the hand, unlike haptic feedback that comes with a game controller that uses small motors and buzz or rumble in the hands of the user.

Rubin wrote a note on Tuesday, disclosing that its prototype microfluidic haptic feedback glove is “substantively identical” to the version Meta unveiled to the world on November 16, 2021.

HaptX’s patent prototype had been in existence long before Zuckerberg’s company launched theirs, and in the past years, Rubin’s firm had shown it to “many engineers, researchers, and executives from Meta.”

HaptX has raised $32.51 million to scale in the market of microfluidic haptic, against a rival like Meta, which is worth $947.94 billion, and the world’s 7th most valuable company by market cap.

This is not the first time minority tech companies are accusing Meta, previously known as Facebook Inc., with the firm said to have ripped off Snapchat ideas after the founders refused to sell when Zuckerberg offered $3 billion.

He later acquired Instagram instead. But in its twelve years of operation, government agencies in Europe and UK had also accused Facebook Inc. of anti-competition.

READ ALSO: Facebook Changes Name

In a LinkedIn post, Rubin wrote, “We welcome interest and competition in the field of microfluidic haptic, however, competition has to be fair for the industry to thrive.”

In another post in HaptX blog, he said, “While we have not yet heard from Meta, we look forward to working with them to reach a fair and equitable arrangement that addresses our concerns and enables them to incorporate our innovative technology into their future consumer products,”

A day after Rubin accused Meta of replicating its innovation, Zuckerberg lost N317.52 billion as his total fortune depleted to $121.9 billion following a 0.64 percent crash in Meta’s market value which dropped to $340.77 per share from $342.96.

 

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Britain’s Highest Court Blocks $4b Class Suit Against Google

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Britain's Highest Court Blocks $4b Class Suit Against Google

A $4 billion class action against Google that had accused the company of illegally tracking millions of iPhone users suffered a major blow on Wednesday as Britain’s highest court blocked it.

The Supreme Court said in a statement that its five judges “unanimously” dismissed the legal action brought by campaigners against the US-based tech giant on behalf of 4.4 million people in England and Wales.

READ ALSO: Again, Russia Fines Google For Illegal Content

The “Google You Owe Us” association had sought compensation of £3 billion ($4 billion, 3.5 billion euros) after accusing the group of secretly tracking iPhone users’ internet activity.

A UK court had already dismissed the case in October 2018 but the judgement was overturned by the Court of Appeal, allowing the latest hearing to take place.

Judge George Leggatt, delivering the Supreme Court ruling, declared the intention to seek damages without proving financial loss or mental distress, was “unsustainable”.

The association had accused Google of circumventing iPhone security options and collecting personal data between August 2011 and February 2012 using the smartphone’s Safari browser.

It claimed Google “illegally misused the data of millions of iPhone users” via the “clandestine tracking and collation” of information about internet usage on iPhones.

Google had yet to respond to its legal victory thanks to the Supreme Court concluding that the “unlawful processing” of data had not been proven.

READ ALSO: Google Plans To Invest $1b In Nigeria, Others

“Google You Owe Us” described the verdict as a “bitter blow” to UK consumers.

“We are bitterly disappointed that the Supreme Court has failed to do enough to protect the public from Google and other big tech firms who break the law,” added lead claimant Richard Lloyd in a statement.

AFP

 

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Govt Extends Deadline For NIN-SIM Data Verification

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Govt Extends Deadline For NIN-SIM Data Verification

The Federal Government has extended the deadline for the National Identity Number (NIN)-Subscriber Identity Module (SIM) data verification.

The Federal Government is calling on citizens and legal residents to complete the process before the end of the year 2021.

This was contained in a statement by Ikechukwu Adinde, Director, Public Affairs of the Nigerian Communications Commission and Mr Kayode Adegoke, Head, Corporate Communications, Nigeria Identity Management Commission, NIMC.

The decision to extend the deadline, according to the statement, was made further to appeals by the Mobile Network Operators and other industry stakeholders, soliciting for a further extension to ensure better compliance with the government’s directive and to avoid widening the digital divide.

The statement added that the extension would also provide the enabling environment for the registration of Nigerians in remote areas, diaspora, schools, hospitals, worship centres, as well as foreigners, diplomatic missions, those in other areas that were hitherto unreachable, and increase enrolments in countries with a significant number of Nigerians.

“The review of the progress of the exercise indicated that over 66 million unique National Identity Numbers (NIN) have been issued- an indication of progress achieved in the ongoing NIN-SIM linkage,” the statement said.

It explained, however, that a significant part of the populace is yet to be registered into the National Identity Database (NIDB), which may be due to some challenges which the Federal Government has looked into and has made efforts to alleviate, hence the need to extend the deadline.

READ ALSO: How You Can Stop Malware Flubot From Stealing Your Bank Details – NCC

“As of October 30, 2021, there were over 9,500 enrolment systems and over 8,000 NIN enrolment centres within and outside the country- this has significantly eased the NIN enrolment process and subsequent linkage of NIN to SIM,” it added.

The NIN-SIM verification process is supporting the Government’s drive to develop Nigeria’s digital economy, strengthen its ability to protect cyberspace and support the security agencies.

“The administration of President Muhammadu Buhari has graciously approved the extension to accommodate the yearnings of the populace and make.

“It is easier for its citizens within and outside the country, and legal residents to obtain the NIN and link it with their SIM. The Federal Government will ensure that all innocent, law-abiding citizens and residents will not lose access to their phone lines as long as they obtain and link their NIN.

“Government will also continue to provide an enabling environment for investors in the telecommunications sector.

“The unique 66 million NIN enrolments, with an average of 3 to 4 SIMs linked to the NIN, is a testament to the commitment and dedication of the Federal Government, through the Nigerian Communications Commission (NCC) and the National Identity Management Commission (NIMC), to ensure the success of the project.

“With the creation of additional NIN enrolment centres within and outside the country, and many more coming up, the remaining citizens and legal residents living in the country and the diaspora should be able to obtain their NINs and link them with their SIMs before the end of the year.

“Consequently, the Honourable Minister enjoins Nigerians and legal residents to make use of the opportunity of the extension to enrol for their NINs and link with their SIMs.

“On behalf of the FGN, the Honourable Minister, the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, and the Director-General/CEO of NIMC, Engr. Aliyu A. Aziz, urge citizens and legal residents to take advantage of the window to complete the process of enrolment and verification before the end of the year 2021,” the statement added.

 

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