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Instagram makes move to begin removal of fake likes and followers

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People will do anything in their power to work less and still earn money. this is why casinos, the lottery and crypto-mining are so popular. It’s also the reason behind a lot of people hoping to make it in the social media “influencer” space going to extremes by manufacturing likes and followers in the hope they can convince companies to give them free stuff to advertise on their platform.



This is a phenomenon which Instagram is currently dealing with as the site is seen as a growing platform for influencers and brands to market products given its young and impressionable user base. In fact, there is even a current trend reported in The New York Times called “nanoinfluencers” which is even seeing people with as few as 10000 followers approaching companies for free products in exchange for advertising them to their followers. All this means though is that people hungry for the extra income and swag are turning to “fake” likes and followers through apps which will automatically like and follow everything you post, thereby artificially boosting the popularity of our posts.  Something, which even if it’s just a few, is not fair to the rest who are legitimately trying to build up their network.

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However, according to the latest report, Instagram has developed a way to counter this issue by using machine learning tools to help identify which accounts use these services and automatically remove the likes, follows, and comments that come with it. Like with Twitter’s crackdown on bots, the hope is this will remove much of the fraudulent activity that takes place on the platform and protect companies who want to promote their products from illegitimate claims.

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 It’s definitely something which needs to be done and hopefully clean up the social media platform from those trying to “game the system”. While Instagram has long removed fake accounts from their platform, this will be the first time they are narrowing in on fake likes and followers and it will be interesting to see exactly how widespread the problem is by seeing how much it changes existing nanoinfluencers on the site.Personally, I’m still amazed that all it takes is 1000 followers for companies to take an interest in you. Now all I need to do is find a thousand friends who actually want to follow me. How hard can that be?

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Grab CEO: “We’re targetting another $2 billion funding this year”😶

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Southeast Asia’s biggest ride-hailing firm “GRAB” said, just weeks after it announced funding of over $4.5 billion in the largest private financing round in the region ever that it expects to raise another $2 billion from strategic investors this year.

They were expecting to raise a total of $6.5 billion capital this year,”. The funding was going to be a combination of equity plus debt all in a bid to quickly expand their business lines in financial services and food delivery.

Grab is also looking to make at least six investments or acquisitions this year, said Tan, adding that the Singapore-headquartered company had no need for a stock market listing.

Grab’s massive financing round started shortly after it bought Uber’s Southeast Asian operations in March 2018 and, in return, Uber acquired a 27.5 percent stake in Grab’s business.

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Jeff Bezos keeps Amazon voting power in divorce settlement

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Amazon.com Inc Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online retailer.

The world’s richest couple had announced their impending divorce in a joint Twitter statement in January, causing some to worry that Jeff Bezos could wind up with less Amazon voting power or that he or MacKenzie would liquidate large positions.

 

“It takes the issue off the table, with less turbulence than you might have expected,” said an investor, whose company owns several million dollars worth of Amazon shares but who asked for anonymity because of a firm policy.

MacKenzie Bezos will wind up with a stake in Amazon that is worth roughly $36 billion. Her shares represent a 4 percent stake in Amazon, according to a regulatory filing by the company. The Amazon shares will make her the world’s third-richest woman while Jeff Bezos will remain the world’s richest person, according to Forbes.

The couple, who tweeted separately on Thursday, disclosed that under their settlement MacKenzie will give up her interests in the Washington Post, which Jeff Bezos bought in 2013 and which has been a frequent target of criticism from U.S. President Donald Trump, and the rocket company Blue Origin he founded in 2000.

“Grateful to have finished the process of dissolving my marriage with Jeff,” MacKenzie Bezos said in her tweet outlining the agreement, the first and only post from an account created this month.

The two did not provide any further financial details about the settlement.

“INFLUENCE WOULD BE THE SAME”

Amazon, the world’s biggest online retailer, said in the filing that 4 percent of its outstanding shares would be registered in MacKenzie Bezos’ name after court approval of the divorce, which is expected to occur in about 90 days.

The petition for divorce was filed in Washington state, a person familiar with the matter said.

Jeff Bezos, whom Amazon listed in its most recent proxy statement as its single largest shareholder with a 16.3 percent stake, will keep sole voting authority over the shares unless MacKenzie donates them to a nonprofit or sells them in the open market.

 

Jeff Bezos, 55, is seen as essential to Amazon’s meteoric growth and stock price rise since he founded the company as an online bookseller in 1994. He has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon.

“When I think about Amazon, and the influence Bezos has on Amazon, I would argue his influence would be the same if he had 51 percent shares outstanding or 1 percent. I think his influence is dictated by his vision for Amazon,” D.A. Davidson analyst Tom Forte said.

MacKenzie Bezos’ stake in Amazon is worth more than the market values of nearly 70 percent of the components of the S&P 500.

The settlement suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts, even though the divorce had jolted the once-private Bezos couple into the public spotlight.

Jeff Bezos re-tweeted MacKenzie’s statement and added in a separate post that he was grateful “for her support and for her kindness in this process.”

Liat Sadler, a San Francisco matrimonial lawyer, said the settlement should put investors at ease.

“They’ve done a lot of work behind the scenes to make their breakup as amicable as it seems,” she said. Still, Sadler added, “Without knowing what cash she received, I have no idea how favorable it was to him or not.”

The day the couple announced their separation on Twitter, the National Enquirer promised to reveal an affair by Jeff Bezos that it claimed had ended their marriage, contrary to the couple’s statement that they were on a “long period of loving exploration and trial separation.”

The U.S. tabloid then published alleged photos and intimate text messages between Bezos and his new partner, former television news anchor Lauren Sanchez.

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