Gregg Smith from Evolution VC Partners about why he likes Apple and SnapChat shares right now.
Apple CEO Tim Cook criticized Facebook in a tweet after the social media platform said that Apple’s new feature, which allows users to refuse permission for apps to use their personal data, would affect small businesses.
Facebook criticized Apple’s new rules since the summer, when the changes were first announced, and launched an ad campaign on Friday saying it “supports Apple for small businesses everywhere,” pushing back the updates.
Cook on Thursday posted an image on Twitter of Apple’s new data request feature, which asks users, “Do you allow Facebook to track your activity in other companies’ apps and websites?”
APPLE CEO says his company is “single American” with “no dominant market share”
“We believe that users should be able to choose from the data collected about them and how they are used,” Cook said. “Facebook can continue to track users in apps and websites as before, the transparency of the tracking app in iOS 14 will only need to ask your permission first.”
Apple announced a number of new changes, based on transparency, in its App Store policies for iOS 14 in June, including requests for permission for user data expected to be released in 2021 after tech giant delayed the update “to make them give developers time to make the necessary changes, “according to a September blog post.
FACEBOOK SAYS IT’S ASSISTING “FORTNITE” DEVELOPER WITH ANTI-APPLE LAWYER
On Monday, Apple released a new section of privacy information on the App Store detailing what information they want to collect certain apps from users and how companies like Facebook will use these companies.
“We believe this is a simple matter of being in favor of our users,” Apple said in a statement to Fox Business. “Users should know when their data is collected and shared in other applications and websites – and should be able to allow it or not.”
The company added that its new application permission feature “does not require Facebook to change its approach to tracking users and creating targeted advertising, but simply gives users a choice.”
Videos posted on Twitter by users browsing the Facebook privacy section show a long list of data collection practices on the site.
Adam Mosseri, Facebook’s head of Instagram, defended the use of personal data in a tweet on Wednesday, saying it helps small businesses create personalized ads.
Such “ads” are an important tool for small businesses to identify and connect with their customers in a way that only large budgets allowed before. This is especially important right now, given the full challenge.[s] facing small businesses, “he wrote.
Dan Levy, Facebook’s vice president for ads and business products, detailed the social media giant’s objections to Apple’s update in a blog post on Wednesday, citing small businesses that Facebook says will suffer financial failures due to the update.
NEW BUSINESS PROCESS, APPLE RACE OF APPLICATION COMMISSION RATE FOR MOST DEVELOPERS
Levy said the iOS 14 transparency update “will force companies to use subscriptions and other in-app payments for revenue.”
“These changes will directly affect their ability to use their advertising budgets efficiently and effectively. Our studies show that without personalized ads based on their own data, small businesses could see a 60% reduction in sales. ad sites, “Levy wrote.
This isn’t the first time Facebook has criticized policies in the App Store.
The Facebook Gaming app – which allows players to stream live and feature games such as Grand Theft Auto, Minecraft and Fortnite – was officially launched in August, but without games due to Apple’s strict policies, Facebook told FOX Business at the time.
“We had to completely remove the game’s functionality to get Apple’s approval for the standalone Facebook Gaming app – which means iOS users have a lower experience than Android users,” wrote Sheryl Sandberg, Facebook’s chief operating officer.
PUT THE FOX BUSINESS IN THE FIELD CLICK HERE
Facebook launched its gaming app in April on Google Play. The social media company said it intends to launch the app on iOS devices at the same time, but Apple has rejected the app six times.
Apple cited its rules in the App Store, which state that an app can run games as long as the game is not the “main purpose” of the app, as a reason for its rejections. Facebook claims that gaming is not the main purpose of its application, and 95% of Android users use the application to watch live streams.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS