Facebook Defriends Palmer Luckey
Palmer Luckey, the co-founder of Oculus VR, sold his company to Facebook ($FB) for $2.3 billion in 2014. Since then, the face of virtual reality came under fire for a few major events. First, Luckey was outed for personally funding anti-Clinton groups who trolled the former presidential candidate’s supporters with offensive and tasteless memes on and off the internet. Luckey and the Oculus VR division then lost a major case against Zenimax Media, who claimed Oculus stole proprietary code for their project. Oculus/Facebook owes Zenimax $500 million, with Luckey personally on the hook for 10% of that payment.
As of yesterday, Luckey is no longer with Facebook. While the company did not confirm whether or not they actually forced him out, his recent actions brought the Oculus division some pretty bad press as of recent. Couple that with PlayStation eating their lunch, and they have all the more reason to oust the young executive.
Like they recently did with Snapchat, Facebook is now home to a GoFundMe clone. Called “personal fundraiser,” this new feature lets users raise money for themselves or for a cause, not unlike the popular fundraising site. Facebook will undoubtedly take a cut of the funds raised. GoFundMe launched seven years ago as a charitable alternative to Kickstarter, and has raised millions of dollars for users in need ever since. Facebook’s clone will keep users off GoFundMe and on the existing Facebook ecosystem, while further increasing their revenue stream.
Where’s The Beef?
McDonald’s ($MCD) is testing fresh beef in a select American locations. The company currently serves frozen beef patties nationwide, but is examining the use of fresh beef to compete with the likes of Shake Shack, Five Guys, and other well-performing competitors. Stores in Texas and Oklahoma have enjoyed fresh beef for a year now. The company says the bulk of their stores will see this upgrade in meat by Summer 2018. While the company still performs moderately well on the market, more customers are going elsewhere for their fast food fix.