Oct 9, 2022
Meta warns 1 million users of stolen log-in information Transcript
Meta has cybersecurity concerns as it warns users of one million stolen passwords and usernames. Read the transcript here.
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Shifting gears now to Meta, which has begun notifying Facebook users that may have had their accounts compromised by third-party apps.
Yahoo Finance’s Ally Garfinkle has the latest on this. Ally, what do we need to know?
Ally Garfinkle: (00:14)
Great to see you, Rochelle. So Meta’s been notifying 1 million Facebook users that they’ve been affected by these malware apps that on the face of it look pretty harmless. They’re often photo editors, lifestyle trackers, that sort of thing. But what Meta’s found is that they’re available both on the Apple App Store and on the Google App Store. So they have put this forth to their users and they are now bringing it to both Apple and Google.
Ally Garfinkle: (00:38)
So this is coming at a time for lots of controversy for app stores. You have a lot of controversy surrounding how apps store fees are structured. You have a lot of controversy surrounding Apple’s privacy changes that came last year, which by the way, really hit Meta’s bottom line hard.
Ally Garfinkle: (00:53)
My take on this, Rochelle, is that after years of being known for their privacy failures, Meta’s trying to show that they’re turning a corner here, being proactive protecting users’ data.
And of course, Meta known … Well, it switched its name, all about the Metaverse. But their flagship Metaverse app, Horizon Worlds has been called bug-riddled by employees, according to a report from The Verge. So much that in fact that employees aren’t actually using it. How big of a problem could this be for Meta?
Ally Garfinkle: (01:21)
Well, it’s a really big problem, Rochelle. It’s their big bet. It’s what they changed the name of the company, what they really hung out their shingle on. And it’s interesting, so many experts I talked to are bullish on the Metaverse, but have questions about Meta’s ability to lead in unchartered territory.
Ally Garfinkle: (01:39)
I got a statement from Meta. I was in communication with them this morning, and what they said to me was, “We’re confident that the Metaverse is the future of computing and should be built around people. This is a multi-year journey, and we’re going to keep making what we build better.”
Ally Garfinkle: (01:52)
So they’re pushing forth. There’s no question that they keep going here. I think the question is if they can push through and become true leaders in this space. If they can get through these bugs, if they can get to the place where Horizon Worlds is indispensable in the Metaverse.
And as they mentioned there, a multi-year plan. So we’ll all be keeping an eye on that. Ally Garfinkle, always good to see you. Have a great weekend.