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28.08.26 - 22:01
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Wall Street Warns "Pervert Glasses" Backlash Threatens AI-Wearables Boom (ZeroHedge)
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Wall Street Warns "Pervert Glasses" Backlash Threatens AI-Wearables Boom
Bernstein analysts are out with a note on how Meta Platforms and EssilorLuxottica's once-hot smart glasses business is running out of steam because of an emerging public backlash over privacy and surveillance, raising questions about whether the smart glasses industry as a whole is hitting a brick wall.
Luca Solca, Bernstein's senior equity analyst and global luxury-goods sector head, covers companies including EssilorLuxottica, LVMH, Hermès and Richemont. He said Ray-Ban Meta glasses were initially a "commercial success," but public opinion has since shifted against the glasses has drastically shifted, with folks online labeling them "pervert glasses" amid mounting privacy concerns.
EssilorLuxottica sold more than 7 million Meta AI glasses in 2025, compared with 2 million during 2023 and 2024 combined, Solca said. However, he warned that users are abandoning the glasses under social press...
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28.08.26 - 18:30
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An $18bn settlement – and Zuckerberg barely blinked. The tech titans must be stripped of their power, and soon | Jonathan Freedland (The Guardian)
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Those who said Meta harms children struck a blow, but the ability of big tech to gouge profits and cause harm is barely diminished. That's the battle to comeFollow the money. If you want to know how the tech giant Meta really feels about the $18bn it agreed to fork out to end a landmark lawsuit against it – an outcome widely hailed as a victory for campaigners – just look at its share price. It didn't go down when word came on Wednesday that Meta had settled with the 29 US states that had argued that the company's Facebook and Instagram platforms harmed children. On the contrary, Meta stock went up, initially surging by 5%, before levelling out at a gain of just over 1.25%. There could be no clearer proof that the money men reckon Meta dodged a bullet.To be sure, there was plenty to hearten those who have long believed that social media damages teenagers especially, whether by exposing them to content they shouldn't see or by sapping their self-esteem, offering them filters that show how much pret...
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