Facebook's parent company, Meta, is reportedly in early talks with augmented reality start-up Magic Leap to create a multi-year agreement that could include intellectual property licensing and contract manufacturing in North America for AR products.

On Wednesday, the Federal Trade Commission proposed sweeping changes to how Meta operates, accusing the company of violating a suite of child privacy protections, including the Children’s Online Privacy Protection Act (COPPA). The FTC's proposed changes would ban Meta, Facebook, and the rest of the company's properties from monetizing the data of children under 18 years old. The FTC's proposal is just the first step in a process to heighten Meta's privacy and security practices. The FTC has asked Meta to respond within 30 days to its findings and proposal. After receiving Meta's response, the agency would then vote on whether to alter or adopt the proposed rules.

Facebook parent Meta’s security team found 10 malware families posing as ChatGPT and similar artificial intelligence tools in March, some of which were found in various browser extensions, noting: 

Traders seem to appreciate Meta's prioritization of its core business lines during the first quarter of 2023.

Facebook parent Meta reported profits fell 23% during its first quarter compared to last year on Wednesday, as Mark Zuckerberg’s social media empire tries to find its footing amid a weaker economy.

Meta, the parent company of Facebook, has laid off an undisclosed number of employees, including gameplay programmers who work on virtual and augmented reality products, according to LinkedIn posts.

Meta, the parent company of Facebook and Instagram, opened NFT sharing on both platforms to all US users on September 2022.

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Meta, the parent company of Facebook and Instagram, plans to use its proprietary generative AI to create ads for companies by the end of this year. Currently a major revenue stream for Meta, the company wants to use artificial intelligence to design ads for brands that advertise on Meta's social platforms.

Facebook parent Meta plans to lower some bonus payouts and to assess employee performance more frequently.