Here’s what you should know to start the day:
Facebook: The Good
Facebook ($FB) is closing in on 2 billion active users, which means about 29% of all people living on Earth use Facebook. Assuming most of these people don’t block ads, that means a metric ton of ad views are being served, which mean’s $8.8 billion in Facebook’s pocket. Facebook isn’t even a thing in China, so imagine what the company’s active user count/ad revenue would be like if they entered the country. The company’s stock shot up by $3+ yesterday thanks to the good news, though it’s slightly down this morning.
Facebook: The Bad
Facebook now owes ZeniMax Media $500 million after Oculus (the virtual reality company) co-founder Palmer Luckey went against a non-disclosure act he signed before selling his company to Facebook for $2 billion. While jurors ruled that Facebook/Oculus employees did not steal trade secrets like ZeniMax claimed, the ruling is worth a whopping 25% of what Facebook paid for the company. Read The New York Times‘ report for more on this case.
The Federal Reserve announced they will not chance their interest rate, though their outlook on the economy remains unchanged. During the board’s first meeting of the year, the company also said they were waiting on more info on the Trump administration’s economic plans before making any decisions. For more on the Fed’s decision, head over to the Los Angeles Times.