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#SocialStocks: Facebook Clarifies Oversight Structure, Snap in talks to Add News

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Facebook announced its Oversight Board structure, Snap is in talks for a dedicated news section

Welcome to “#SocialStocks,” The Fly’s weekly recap of Wall Street’s reactions to social media stock news.

FACEBOOK ANNOUNCES OVERSIGHT BOARD STRUCTURE: 

According to Facebook’s (FB) Brent Harris, Director of Governance and Global Affairs: “Today, we’re announcing more details on the structure of the Oversight Board and its relationship to Facebook in the form of a charter. This central governing document defines the board’s mandate and describes its relationship to Facebook. It establishes its membership, governance and decision-making authority, and it sets out parameters for things like the size, scope and power of the board. In the coming months this charter will be available in multiple languages on a new board website.” Additionally, Mark Zuckerberg, the CEO of Facebook, said in part in a letter: “Facebook is built to give people a voice. Free expression is fundamental to who we are as a company, just as it is to a free, inclusive and democratic society. We believe the more people who have the power to express themselves, the more progress our society makes together. We want to make sure our products and policies support this…We are responsible for enforcing our policies every day and we make millions of content decisions every week. But ultimately I don’t believe private companies like ours should be making so many important decisions about speech on our own. That’s why I’ve called for governments to set clearer standards around harmful content. It’s also why we’re now giving people a way to appeal our content decisions by establishing the independent Oversight Board…Over the past year, we’ve gotten feedback from experts around the world on what this board should look like. We’ve researched similar bodies, released a draft charter, run a public consultation process, engaged in workshops and published a summary of the feedback.”  

SNAP IN TALKS FOR DEDICATED NEWS SECTION: 

The Information’s Alex Heath and Jessica Toonkel reported that Snap (SNAP) is in early stage discussions with media companies about including their content in a planned news “tab” that will be a distinct area within the Discover section of the app. The Information cited six people familiar with the matter in the report.  

TWITTER ANNOUNCES AGENCY PLAYBOOK: 

Twitter (TWTR) announced the following in a blog post: “Agencies and clients have a lot of questions about how to run Twitter Ads well. And those answers have not always been clear or easy to find. We compiled the most frequently asked questions from agencies, partnered with our Customer Success team, and synthesized years of internal Twitter research to bring you this Playbook. Break through the noise and confusion around digital advertising, and guide your clients towards Twitter Ads success with key information on: How and why Twitter stands out in the advertising landscape; the importance of a combined organic and paid strategy; Breakdowns of our nuanced campaign types, targeting options, creative ad specs and analytic tools; Pro tips from the Twitter Business team.”

Originally Posted on September 18, 2019 – #SocialStocks: Facebook clarifies oversight structure, Snap in talks to add news

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