Meta Platforms Inc (NASDAQ: FB) Announces Expansion in Texas After Leasing Office Space

Meta Platforms Inc (NASDAQ: FB) has leased a 589,000 square foot space to mark its expansion in Texas. The space will take up half of Sixth and Guadalupe, a 66 story building to open in 2023. Meta will also hire 400 people to add to its 2000 Texas employees.

The head of Meta’s office in Austin, Katherine Shappley, states that the company ventured into the Austin market a decade ago. The company has since established itself in the region and hopes the expansion will help it grow further.

However, Facebook moderators in Austin have threatened a work stoppage after a payroll disaster. The employees noticed an error in the system on January 4, which worsened on January 6 when paychecks failed to come in.

Facebook has not shut down fake review groups 

Despite the good news, consumer group, Which? launched an investigation that found that Meta’s Facebook and Twitter Inc (NYSE: TWTR) have failed to regulate fake reviews on their platforms.

These fake review industries use people to post five-star ratings on low-quality products that they sell on Amazon.com, Inc. (NASDAQ: AMZN) in return for free products. Which? found that the fake review groups promoted products for more than 130 brands on Amazon.

While the Competition and Markets Authority (CMA) analyzed the issue in 2019, Twitter and Facebook had failed to stop this, leading to people losing trust in online reviews.

Nevertheless, the UK government is taking measures to regulate such reviews. In addition, giving a fake review in exchange for an item goes against Amazon’s terms and conditions.

Buy Nothing Groups want to make their app

The Buy Nothing group, which has grown steadily on Facebook since 2013, now wants to form its app separate from the platform. The group, which saw a surge in popularity during the pandemic and now has over 5 million members. These groups are in 44 countries. So far, there are 7000 of them on Facebook.

 The Buy Nothing Groups include people who want to give items away to their neighbors or other people for free. Selling and marketing are not allowed. While Facebook has allowed them to flourish and grow worldwide, the groups have faced several issues within the platform.

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