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Inside Social (Apr 12th, 2018)

$FB (1:50 PM EST): $164.53 (-1.08%) // More info

$SNAP (1:50 PM EST): $15.10 (+2.03%) // More info

$TWTR (1:50 PM EST) $29.32 (-0.36%) // More info

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A Yale law professor’s concept could regulate Facebook without going though Congress. Two days of congressional testimony from Facebook Chief Mark Zuckerberg has raised public interest in potentially regulating the company. At both hearings, Zuckerberg said he isn’t opposed to legal restrictions on Facebook, in general. Professor Jack Balkin suggested an information fiduciary, which seemed to interest Zuckerberg. The idea involves utilizing cloud providers as information fiduciaries through a code of conduct that would require Facebook and other companies to not go against user interest. The courts would determine and impose penalties when it happens. - THE VERGE

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A harmless-looking, bright green water gun has replaced the pistol emoji on Twitter. In 2016, Apple’s iOS 10 first made the switch, which was seen as a political statement. It’s not the only emoji update on Twitter, which has introduced Twemoji 2.6 as an update. Tech experts say it matters because emojis can influence culture and are globally understood. Apple’s decision also impacted Samsung and WhatsApp, which followed suit, but many others, including Microsoft, have left their realistic gun emojis unaltered. – TECH CRUNCH

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Instagram will soon allow users to download a copy of the content they have uploaded to the site. While Facebook has allowed users to download photos, messages and clicked advertisements, along with a log of their activity, since 2010, Instagram has lacked that feature. The company did not say when it will introduce the functionality. Allowing the downloading of data will help Instagram comply with new European privacy laws, taking effect on May 25, that require data portability. - REUTERS

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LinkedIn will soon allow users to use GIFs on Messenger. LinkedIn will leverage the GIF engine of Tenor, a company Google recently purchased that currently runs GIFs for Gboard and Facebook Messenger. GIFs, however, may be an odd fit for LinkedIn. “Think about your company's culture, your professional relationship with the person and the industry you work in to decide if it makes sense to send a GIF," LinkedIn wrote in a blog post. - ENGADGET

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Elon Musk has called for regulations against Facebook and social media companies. "Whenever there's something that affects the public good, then there does need to be some form of public oversight," Musk said. “I think there should be regulations on social media to the degree that it negatively affects the public good. We can't have like willy-nilly proliferation of fake news; that's crazy.” Musk’s primary complaint was that false news stories get more clicks than real news. - CNBC

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Snapchat traffic has dropped substantially since its update and publishers are concerned about its future. The company's redesigned app has not been well received by users. Celebrities such as Kylie Jenner, Rihanna and Chrissy Teigen criticized the platform, which saw its valuation plummet. In 2017, Snap’s Discover media partners took in more than $100 million, so insiders aren’t panicking just yet. They expect some volatility with a redesign, but it isn’t yet clear whether Snap’s earnings will remain as high. – THE VERGE

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