Tech Roundup: Meta Stock Crash, Twitter Articles & More

[A recurring feature on the latest in Science & Technology.]

• Meta's stock plummets 26% in its biggest one-day drop ever, wiping out more than US$ 237.6 billion from its market capitalisation, after it acknowledges major revenue hit from Apple's anti-tracking privacy changes and unprecdented competition from TikTok. (The previous record for amount of market cap lost in one day was Apple's US$ 182 billion loss in September 2020.)
• Apple's plans to allow developers to use third-party alternative payments methods within their apps in South Korea "lacks concrete detail," South Korea's Communications Commission (KCC) alleges, adding "if app developers find it realistically difficult to use an alternative payment system and resort to using the dominant app store operator's payment system, it would not fit the law's purpose."
• Google announces a new, free tier of its Workspace suite, Workspace Essentials Starter, that allows users sign up for no-cost access to Google Docs, Sheets, Slides, Drive, and Meet, more using their existing work email such as Exchanger or Zoho.
• Meta (Facebook), YouTube, Twitter and TikTok take on the German government over new rules regarding online hate speech that requires social media platforms to send illegal pieces of content — including photos of swastikas or posts inciting violence — and user data to a central law enforcement agency, citing privacy concerns.

• Twitter reportedly is testing a new long-form format with a feature called Articles, allowing users to share content that go beyond its current 280 character limit.
• Mozilla shuts down Firefox Reality, its web browser launched in 2018 for Oculus and other AR/VR headsets; directs users to Igalia's upcoming browser called Wolvic that uses the same underlying source code.
• Amazon reports Q4 2021 revenue of US$ 137.4 billion, up 9% YoY, net income of US$ 14.3 billion, up 98%, AWS revenue of US$ 17.8 billion, up 40%, and advertising revenue of US$ 9.7 billion, up 32%; to raise Prime's annual price by US$ 20 to US$ 139 and its monthly price by US$ 2 to US$ 14.99 effective February 18 for new members and March 25 for current members. (The price change for Prime membership, however, does not affect the Prime Video-only subscription, which will remain at US$ 8.99 per month.)
• Snap, the owner of Snapchat and Spectacles, reports its first quarterly net profit, with Q4 revenue of US$ 1.3 billion, up 42% YoY, and net income of US$ 23 million, with global daily active users touching 319 million.
• Pinterest reports Q4 revenue of US$ 847 million, up 20% YoY, and net income of US$ 175 million, as it hits 431 million global monthly active users, down 6% YoY
• Apple sells 2.3 million iPhones in India during Q4 2021, up 34% YoY, netting about US$ 2.09 billion revenue, followed by Xiaomi (9.3 million, up 2% YoY) and Samsung (7.2 million, down 8% YoY).