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Inside Facebook (May 26th, 2017)

$FB (3:30 p.m. EST): $151.86(↓ .09%) // 90-day high: $153.6 // 90-day low: $132.9 // More info

Facebook plans to pay up to $250,000 per episode for original video content. The company also intends to license shorter-form content for $10,000 to $35,000 an episode. It has signed deals with Vox Media, BuzzFeed, ATTN, and Group Nine Media to produce videos. Some of the titles include a virtual reality dating show and shows involving A-list celebrities. Facebook is planning to unveil a content lineup at the Cannes Lions advertising festival in June. – VARIETY.

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Mark Zuckerberg, the CEO and founder of Facebook, delivered the commencement address to Harvard University’s graduating class on Thursday. "Today I want to talk about three ways to create a world where everyone has a sense of purpose: by taking on big meaningful projects together, by redefining equality so everyone has the freedom to pursue purpose, and by building community across the world," said Zuckerberg, a Harvard dropout. Zuckerberg also made time to visit Room H33, the dorm room where he lived and built the website that would eventually become Facebook. – MERCURY NEWS

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In an effort to compete for advertising dollars on a larger scale, Facebook hired digital veteran Nada Stirratt as its new vice president of  global marketing solutions for the US and Canada. The company has also brought on Ty Ahmad-Taylor as vice president of product marketing. Stirratt recent ran the mobile ad company Verve and worked at Viacom, Acxiom and MySpace. Ahmad-Taylor previously served as CEO and president of the media and consumer electronics firm THX. Like Stirratt, Ahmad-Taylor previously worked at Viacom. – BUSINESS INSIDER

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Mark Zuckerberg gave a rare podcast interview this week to LinkedIn co-founder and Greylock partner Reid Hoffman. In the podcast, Zuckerberg revealed that he once started a mini social network called "ZuckNet" when he was 10 years old. “Growing up, one of the neat things was that [my dad’s] dental office was actually connected to our home. The dentists and hygienists needed to share data on the patients. So I built a system where he could communicate with folks across rooms, and also communicate with me and my sisters upstairs—and I called it ZuckNet.” The Masters of Scale podcast is a 10-episode series where Hoffman chats with big-name leaders about unconventional theories pertaining to scaling businesses. – RECODE

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Products or items that “facilitate or encourage unauthorized access to digital media," are now banned on Facebook. The company's new policy is intended to block the sale of Kodi-based devices. Kodi is a free, open-source media player software that has grown popular among pirates, who modify the code with third-party add-ons for illegal streaming. “It is great to see Facebook follow the likes of Amazon and Ebay in making changes to their policies to prohibit the sale of illicit streaming devices on their platforms,” Kieron Sharp, CEO of U.K. intellectual property protection org FACT, said in statement. – VARIETY

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The founder of Facebook was the subject of a mysterious newspaper prank at Harvard. To commemorate Mark Zuckerberg's return to his alma mater, where he gave a commencement speech, the 144-year-old Harvard Crimson newspaper ran as its front page story: “MARK ZOINKERBURG AT IT AGAIN.” Other stories included: BREAKING: Mork Zinkeltink Zonks all over the Internet” and “OOPS: MINK PINKLEBINK ACCIDENTALLY ‘LIKES’ OWN COMMENCEMENT SPEECH.” The Crimson president issued a statement in response: "The Harvard Crimson’s website was altered by an unauthorized user. We are currently working to repair the breach. We regret any inconvenience to our users and look forward to the rest of commencement." Zuckerberg was depicted without eyebrows, and with extremely small teeth, in one of the photos. It's unclear whether it was a hack or a prank. – GIZMODO 

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