Forum, launched as a test app on Apple's iOS, is part of Facebook Groups. Analysts at Truist wrote in a note on Friday that it's "an attempt by the company to compete against Reddit as an online forum for public discourse" and "represents a new threat." Reddit's stock is now down almost 40% this year despite a strengthening online ad business.
Social media companies including Meta have settled the first of many lawsuits brought by hundreds of school districts seeking compensation for costs they say they incurred dealing with harms to children's mental health from social media addiction. The lawsuit brought by a small, rural Kentucky school district was set to go to trial next month in federal court in Oakland, California. The judge and the parties selected it as a bellwether case - essentially a test for both sides to see how their arguments play out before a jury - out of 1,200 similar cases. The settlement only applies to the Breathitt County School District.
