The creator economy boom continues as Facebook launches a $1 billion fund for original content. Social media platforms are still morphing into each other: Instagram copies Twitter and TikTok moves further into YouTube territory. Racist - and sexist - abuse remains rife as content moderators call for improvements in pay, rights and working conditions. And Facebook continues to grow more powerful: at the tailend of last month, the world’s largest social network had a regulation win, pushing its value over $1 trillion for the first time. Meanwhile I’m finding more of my new work-based connections are happening over in closed groups on Slack and Circle (I'll share these on the blog next month). Here are my top social stories from July.
Facebook & Instagram to review racist bias
Both platforms will review “inherently racist” algorithms following failures to deal with the abuse heaped on 3 England footballers after the Euro’20 final. BBC
Instagram "no longer a photo-sharing app"
From @Ghettotwins to @Bretmanrock, Instagram's strategy is now focused on its entertainment and video stars. AKA "becoming TikTok". The Verge
How TikTok is (weirdly) driving book sales
TikTok is turning old books back into bestsellers and helping to launch new authors. Videos tagged #BookTok have been viewed 12.6 billion times. NBC
That was quick! Twitter kills Fleets
Just 7 months after launching "Fleets", Twitter is retiring its Snapchat Stories clone. If only other social networks were as quick to admit mistakes. OneZero
The future of Facebook is the "metaverse"
The term metaverse refers to the convergence of physical, augmented and virtual reality in a shared online space. Mark Zuckerberg wants it. The Verge