Mark Zekerberg
Our high priority has been addressing the vital social problems facing the web and our company
talks about victims Facebook, Instagram, WhatsApp,
We simply shared our latest community update and quarterly results. Their area unit currently quite a pair of.7 billion individuals victimization Facebook, Instagram, WhatsApp, and traveler monthly, and quite a pair of.1 billion individuals victimization a minimum of one in all our services every day.
Our high priority has been addressing the vital social problems facing the web and our company. With our privacy-focused vision for building the digital lounge and with today's independent agency settlement, delivering foremost privacy protections are going to be even additional central to our vision of the long run.
But I conjointly believe we've got a responsibility to stay innovating and building qualitatively new experiences for individuals to come back along in new ways that. thus I have been centered on ensuring we can keep corporal punishment our proactive roadmap whereas we tend to push to deal with vital social problems. you'll be able to see our progress within the new updates to Facebook and Instagram, our proposal for a brand new payments system and currency, our new computer game merchandise, and also the strength of our community overall.
As always, thanks for being on this journey with America. Our mission to bring the planet nearer along is tough however vital, and I am grateful for the role all of you plays to assist build this happen. you'll be able to scan my full update below.
This was a very important quarter for America. Our community and business still grow, and their area unit currently quite a pair of.7 billion individuals victimization Facebook, Instagram, WhatsApp or traveler monthly, and quite a pair of.1 billion folks that use a minimum of one in all our services every day.
We still specialize in our four priorities for the year -- creating progress on the main social problems, building qualitatively new experiences, building our business, and human activity what we tend to represent additional transparently. I am about to specialize in our initial 2 priorities these days, however initial I need to speak concerning the recent news that we tend to settle with the independent agency over privacy considerations.
As a part of this, we've united to pay a $5 billion fine. however even additional significantly, we tend to're creating some major changes to however we build our services and run this company. this may need investment a big quantity of our engineering resources in building tools to review our merchandise and also the ways that we tend to use information. it'll conjointly considerably increase our responsibility by transfer the method for auditing our privacy controls additional in line with however money controls work public firms with Sarbanes Oxley. We'll get to certify quarterly that we're meeting all our privacy commitments. And even as we've got Associate in Nursing audit committee of our board overseeing our money controls, we are going to currently even have a brand new privacy committee of our board which will superintend our privacy program Associate in Nursingd work with an freelance privacy auditor that reports to the present new committee and to the independent agency. We’re asking one in all our most knowledgeable about leaders in product to require on the role of Chief Privacy Officer for Product, news to Maine and managing our privacy program. We'll even be additional rigorous in observance developers United Nations agency access information through our platform. Together, we tend to expect these changes can set a brand new customary for our business.
This is a serious shift for America. we tend to build services that billions {of individuals|of individuals} trust each day to speak with the people they care concerning. Privacy has invariably been vital to the services we offer, and currently, it’s even additional central to our future vision for social networking. it's important that we tend to get this right, and we're about to build it into all of our systems. It's about to take time to try to do this properly, and that I expect it'll take America longer to ship new merchandise, particularly whereas we're obtaining this up and running. I conjointly expect that even as with the work we've got been doing on safety and integrity, we tend to about to still determine and fix problems as we develop our systems. however, our goal is to make privacy protections as sturdy because the best services we offer, and this settlement offers America clear necessities moving forward.
Now, turning to our company priorities, our high priority is creating progress on the main social problems facing the web, as well as privacy, and conjointly elections, harmful content, information movability, and more. altogether these areas, I've advocated the web would get pleasure from governments setting clearer rules. I do not believe it's property for personal firms to be creating such a big amount of choices on social problems while not a sturdy democratic method. Either the correct laws can get place into place, or we tend to expect frustration with our business can still grow.
This quarter I hung out in Europe talking with policymakers concerning however this might work. I met with President diacritical mark to debate a framework for harmful content. this can be a section wherever I think there might be an efficient public method light-emitting diode by democratically elective governments in Europe, and maybe within America a method for business standards and self-regulation.
But we're not watching for regulation to extend freelance oversight. we tend to simply free our third transparency report, that shows the progress we're creating on several classes of harmful content, as well as hate speech and graphic violence, however conjointly the areas we tend to still ought to do higher, like bullying and harassment. I think additional firms ought to unleash transparency reports that enumerate the prevalence of harmful content on their services. this may facilitate firms and governments to style higher systems for managing it. And once next year, we're about to publish these reports quarterly thus individuals will hold America responsible at a similar cadence as these earnings calls.
We're conjointly moving forward with our plans for Associate in Nursing freelance oversight board for choices on content. I think it is important that individuals will charm the choices, which we're making systems that area unit clear which individuals will trust. We've been operating with consultants on freedom of expression around the world, and we've got loads of public input on however this might work, that we tend to revealed in an exceedingly report last month. we tend to expect to make this oversight board by the tip of this year.
We conjointly still invest heavily in protective elections -- as well as additional advanced efforts to prevent coordinated spurious behavior, new ads transparency tools, and additional fact-checking partnerships. Our adversaries area unit frequently obtaining additional subtle, however recent elections within the EU and Asian country show that our efforts area unit operating. once the recent EU elections, the previous President of the EU Parliament same that we tend to meet the commitments to fight election interference that I created in my testimony to the EU Parliament, which due to our efforts the elections were abundant cleaner on-line. We'll continue building on these efforts as we tend to approach the 2020 America elections to create that we tend to keep ahead.
Next, I do know there is a ton to debate in terms of the policy, however, I conjointly wish to debate our second priority -- delivering qualitatively new experiences for our community. And there area unit some efforts that I am notably excited about:
The first is our privacy-focused vision for the long run of social networking beginning with secure, personal and practical electronic messaging. We're centered on delivering this over following 5 years, building on the inspiration we've got with traveler and WhatsApp.
With traveler, we're redaction the app from scratch to create it the quickest and most secure major electronic messaging platform within the world, and we're operating towards creating end-to-end coding and reduced duration the default for all conversations. therewith foundation, we're setting out to explore however a personal social platform may become the middle of your social expertise, for instance, by transfer along all of your transient stories from your completely different apps into one place. We're conjointly building things just like the ability to co-watch videos along. This shows however one thing like video chat, that is growing quickly as a basic method that we tend to all communicate, will become additional of a platform for additional ways that we wish to act in private within the future.
With WhatsApp, that already has improbably sturdy privacy and performance, we're additional centered on building out all the ways that you'd wish to act during this digital lounge. WhatsApp standing is already the foremost in style transient stories product within the world, and that we still see sensible momentum there. With voluminous tiny businesses victimization WhatsApp Business, we're conjointly building new tools like product catalogs that entrepreneurs around the world will use at no cost. This matters particularly for the growing variety of tiny businesses that do not have an online presence, or that use personal electronic messaging platforms like WhatsApp as their main method of interacting with customers.
This connects to the following product space I am excited concerning, that is commerce and payments. This area unit Brobdingnagian and vital areas, {and we tend to|and that we} have efforts in many major areas to deliver qualitatively higher experiences than what exists these days -- from Instagram looking to Facebook Marketplace to payments across our apps to the new Libra project that we declared with twenty-seven alternative firms recently. These efforts area unit vital each for our product expertise and our business. Once individuals have connected to their networks on social platforms, one in all the most important queries is, however, will we tend to facilitate them use their networks that they’ve created to form chance, and one in all the most effective ways that to try to that's through commerce.
Instagram looking can improve the expertise of browsing and looking from your favorite brands and creators, whereas conjointly giving rising creators a strong new thanks to building a business and sustain their community. Facebook Marketplace offers individuals how to shop for and sell merchandise in an exceedingly trusty network with real identities. many voluminous individuals already use Marketplace monthly. We're conjointly building ways that for individuals to act with businesses through electronic messaging, like WhatsApp Business, as a result of individuals loathe having to decision businesses and would rather have interaction asynchronously over messages if attainable.
Payments could be a part of this I am notably excited concerning. after I look into the varieties of personal interactions we can build easier, payments are also the foremost vital for the long run. We're continued to check payments on WhatsApp in an Asian country, and area unit on the point of launching in alternative countries further. within the future, we'll change individuals to use a similar payments account to send cash to friends and businesses on WhatsApp, look on Instagram, or build transactions on Facebook. having the ability to send cash as simply as you'll be able to send a photograph can open up new opportunities for businesses.
More loosely, I think there is a chance to assist loads additional individuals access money tools. Last month we tend to declare that we tend to were operating with twenty-seven alternative organizations to make the Libra Association. The association can produce a brand new currency known as Libra, which can be power-driven by blockchain technology. The Libra Association are going to be freelance of Facebook or the other member, however, we tend to attempt to support this currency across our services. The goal is to empower billions of individuals around the world, United Nations agency use services like WhatsApp, however, can be excluded from banking services, with access to a secure, stable, and well-regulated cryptocurrency. There area unit loads of potentialities here, and each Facebook and also the Association attempt to work with regulators to assist address all their considerations before Libra are going to be able to launch. we tend to work with alternative prospective members of the association to unleash a study outlining the Libra construct earlier specifically so we tend to may address these vital queries come in the open, and we're committed to operating with policymakers to induce this right.
The third product space I need to focus on wherever we're centered on delivering qualitatively higher expertise than what exists these days is within the future computing platforms of increased and computer game.
This quarter, we tend to shipped eye Quest, our initial all-in-one telephone receiver with no wires and full freedom of movement. it's gotten nice reviews and we're merchandising them as quick as we can build them. additional significantly, we've delivered Associate in Nursing expertise that individuals keep victimization week once a week, and shopping for additional content. there is still loads of labor ahead to develop this scheme and deliver the long run VR and AR merchandise we tend to dream of, however, this can be a very important milestone. in an exceedingly few years, we've improved the state of the art from the initial Rift, that price $600 and needed to be bound to a $1000 laptop, to currently Quest, that prices $400 beat, and could be superior expertise in many ways. there is about to be even additional innovation over following few years, and that we currently have the platform we're about to build upon going forward.
The reason increased and computer game deliver qualitatively higher expertise than ancient computing platforms is that they deliver the sensation of presence -- that you are there with another person or in another place. the sensation of presence is thus vital to social actions and the way we're wired to interact as individuals. notwithstanding it's taken longer than we tend to expected to deliver this at scale, I still believe that this may be one in all the foremost vital contributions we tend to build to the method we tend to all use technology over the long run.
That's my update on our work on the main social problems we tend to face and building new product experiences. We've created loads of progress this quarter and a have loads additional ahead. Our business continues to perform well, and Sheryl goes remark that additional in an exceedingly minute.
But this was conjointly a very important quarter as a result of currently we've got a clearer path forward -- not simply in terms of product and business, however in terms of steering from regulators, that sets clear expectations and offers America a foundation to make on.
Facebook, Instagram, WhatsApp
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