This April 25, 2019, photo shows the thumbs up Like logo on a sign at Facebook headquarters in Menlo Park, Calif. (AP Photo/Jeff Chiu)
NEW YORK (AP) --
Facebook co-founder Chris Hughes says it's time to break up the social media behemoth.
He says in a New York Times opinion piece that CEO Mark Zuckerberg has allowed a relentless focus on growth to crush competitors and "sacrifice security and civility for clicks."
Hughes says Facebook is a monopoly and should be forced to spin off WhatsApp and Instagram. He says future acquisitions should be banned for several years
Hughes roomed with Zuckerberg at Harvard and left Facebook in 2007 to campaign for Barack Obama.
He says he liquidated his Facebook shares in 2012, the year he became publisher of The New Republic.
Last year, Hughes published a book advocating a universal basic income. In 2017, Forbes put his net worth at more than $400 million.
Pepsi soft drinks in plastic bottles are on sale at a grocery store in New York on Weds., Nov. 15, 2023. (AP Photo/Ted Shaffrey, File)
PepsiCo confirmed Friday that it's ending some of its diversity, equity and inclusion initiatives, even as rival Coca-Cola voiced support for its own inclusion efforts.
In a memo sent to employees, PepsiCo CEO Ramon Laguarta said the company will no longer set goals for minority representation in its managerial roles or supplier base. The company will also align its sponsorships to events and groups that promote business growth, he said.
Laguarta wrote that inclusion remains important to PepsiCo, whose brands include Gatorade, Lay's potato chips, Doritos, Mountain Dew as well as Pepsi. The Purchase, New York-based company's chief diversity officer will transition to a broader role focused on employee engagement, leadership development and ensuring an inclusive culture, he said.
Since President Donald Trump returned to the White House last month, U.S. government agencies, companies and schools have rushed to reevaluate policies and programs they adopted with the goal of reducing discrimination against members of minority groups, women and LGBTQ+ people.
Trump ended DEI programs within the federal government and has warned schools to end DEI programs or risk losing federal money.
PepsiCo's rollback came as Coca-Cola reaffirmed support for its DEI efforts.
In its annual report, Atlanta-based Coke warned that its business could be negatively affected if it is unable to attract employees that reflect its broad range of customers.
"Failure to maintain a corporate culture that fosters innovation, collaboration and inclusion โฆ could disrupt our operations and adversely affect our business and our future success," the company said.
Coca-Cola has set a goal of having women in 50% of its senior leadership roles by... Read More
