Walmart to roll back its diversity, equity and inclusion policies
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(NEW YORK) — Walmart, the world’s largest retailer, is rolling back its diversity, equity and inclusion policies.
This brings it in line with several major corporations that have reviewed their operational practices after facing considerable pressure from conservatives.
No longer considering race and gender as a way to increase diversity when it offers supplier contracts, is an example of the retailer’s reported rollbacks, according to the Associated Press.
The company said it didn’t currently have quotas and didn’t plan to going forward; however, it planned to stop collecting demographic data when determining financing eligibility for grants.
In a statement to ABC News, Walmart said, “Our purpose, to help people save money and live better, has been at our core since our founding 62 years ago and continues to guide us today. We can deliver on it because we are willing to change alongside our associates and customers who represent all of America.”
“We’ve been on a journey and know we aren’t perfect,” the statement continued, “but every decision comes from a place of wanting to foster a sense of belonging, to open doors to opportunities for all our associates, customers and suppliers and to be a Walmart for everyone.”
Walmart will also be “reviewing grants to Pride events to make sure it is not financially supporting sexualized content targeting kids,” the retail giant told AP.
The changes also extend to Walmart’s sizable third-party marketplace.
For example, those third-party retailers would no longer be able to list and sell “sexual and transgender products aimed at minors,” the company said. An example is chest binders for young people who may be using the products as part of their gender-affirming care.
The world’s largest retailer confirmed the changes on Monday.
They were first announced in a post on X by conservative political commentator Robby Starbuck.
He said that he had been in touch with the Arkansas-based corporation about a story he was doing about “wokeness,” which turned into “productive conversations” — and, ultimately, led to reversals in Walmart’s approaches to DEI.
Other changes that Starbuck listed in his announcement included: discontinuing racial equity training through the Racial Equity Institute, no longer participating in the Human Rights Coalition’s Corporate Equity Index (a national benchmarking tool for LGBTQ individuals) and eliminating the use of Latinx (a gender-neutral word for anyone of Latin descent).
He also stated that Walmart will be eliminating the use of the phrase “DEI” altogether.
“This is the biggest win yet for our movement to end wokeness in corporate America,” wrote Starbuck, who has also gone after companies including Boeing, Lowe’s, Tractor Supply and Deere & Co.
(NEW YORK) — Shares in former President Donald Trump’s social media company fell to a record low Wednesday on the heels of Tuesday’s presidential debate, which a CNN poll indicated was won by Vice President Kamala Harris.
Shares of Trump Media & Technology Group, the parent company of Truth Social, closed down 10.5% Wednesday to end the day at a record low.
Shared dipped as much as 17% Wednesday before slightly improving at the close of trading.
For some investors, Trump Media serves as a bellwether for the former president’s odds in the upcoming presidential election. When Trump was convicted on 34 felony counts in New York in May, the company’s stock price tumbled — but the stock surged in the days following the July presidential debate and the assassination attempt on the former president.
Analysts have said that the company’s stock performance is removed from the financial outlook of the company, which reported losing more than $16 million over a three-month period ending in June during which it only brought in $836,000 in revenue.
The stock price has been buoyed by a number of passionate individual investors who bought shares in the company to support Trump or because they believe in the company’s mission.
Next week, Trump faces a pivotal choice about his investment in the company. The lockup provision that barred him from selling his shares for the first six months since the company went public expires next week, meaning that Trump could begin selling his shares in the company as early as Sept. 19.
According to filings with the Securities and Exchange Commission, Trump owns approximately 115 million shares of the company, which are worth nearly $2 billion based on Wednesday’s stock price.
On paper, Trump has lost more than $4 billion in his stake over the last six months as the company’s stock price has declined.
A representative for Trump Media & Technology Group did not immediately respond to a request for comment from ABC News.
(NEW YORK) — Tech billionaire Elon Musk has kept busy since Election Day, advising President-elect Donald Trump and receiving an appointment to co-lead a new government efficiency commission.
Musk has also found time to promote Trump in scores of posts on the social media platform X, formerly Twitter, which he owns. But such advocacy appears to have driven some X users to seek alternatives.
One such app, Bluesky, has drawn attention as a possible X rival and has amassed a total of 20 million users to date. Its growth accelerated in the aftermath of the election, when Bluesky added one million users in a single week.
Launched by former Twitter CEO Jack Dorsey, Bluesky has attracted some prominent users in recent days, including comedian Ben Stiller, author Stephen King, and pop star Lizzo.
Here’s what to know about Bluesky, and how to join:
What is Bluesky?
Bluesky is a text-oriented social media platform on which users can post messages as long as 300 characters. Like X, the messages posted on Bluesky appear on a newsfeed displayed to users. The app is available on iOS and Android.
The platform operates on an open framework, meaning that users can post their messages to a server tailored for specific interests or communities. The system design resembles that which is used on another text-first app, Mastodon, as well as the decentralized platform Discord.
Bluesky began in 2019 as a venture at Twitter overseen by Dorsey, and was launched as an independent company in 2022, the year after he left Twitter.
Development of the site started after a 2020 tweet from Dorsey announcing Twitter’s plans to fund a decentralized social media platform, Bluesky said in a blog post. The eventual leaders at Bluesky were among those who sent direct messages to Dorsey in response to his post, the blog added.
Who owns Bluesky?
The board of directors at Bluesky features Dorsey as well as Jeremie Miller, the founder in the late 1990s of a free instant messaging service called Jabber.
Bluesky’s CEO is Jay Graber, who formerly founded an events-oriented social media site called Happening and worked as a software engineer on a cryptocurrency called Zcash, according to LinkedIn. She also serves on the Bluesky board.
The company is owned by Graber as well as “the Bluesky team,” the Bluesky website says.
While Bluesky has retained a traditional corporate structure featuring a board and chief executive, the company said it aspires to take control of content away from a top-down entity and return it to creators.
“Traditional social networks are often closed platforms with a central authority,” the website says. “There’s a small group of people who control those companies, and they have total control over how users can use the platform and what developers can build.”
Dorsey criticized Musk’s leadership at Twitter on Bluesky last year, saying that things “all went south” at the platform after Musk’s acquisition, CNBC reported.
Is Bluesky a viable alternative to X?
The steady growth of Bluesky has made it a destination for an increasing number of celebrities, elected officials and government entities. But the platform remains much smaller than X or the Meta-owned competitor, Threads.
Bluesky boasts roughly 20 million users, which amounts to less than 10% of the 229 million daily active users disclosed by Twitter in a June 2022 earnings report. X’s user data is no longer publicly available since Musk took the company private.
In July, Meta CEO Mark Zuckerberg announced that Threads had exceeded 175 million monthly active users.
How do you join Bluesky?
During Bluesky’s initial years, users could only join the platform if they received an invitation. The policy aimed to limit the app’s user base as it underwent testing.
In February, however, the platform made itself available to all users. Individuals or organizations can navigate to the platform and follow instructions to create an account.
(NEW YORK) — For the first time in its history, Instagram on Tuesday announced the launch of accounts designed specifically for teenage users with built-in privacy protections.
The new accounts, called “Teen Accounts,” will be automatic for all Instagram users under the age of 18, both for teens already using the app and for those signing up.
By default, Instagram users younger than 16 will need a parent’s permission to change their account settings.
The changes — expected to impact tens of millions of users — were announced by Instagram head Adam Mosseri in a live interview on ABC News’ Good Morning America.
“They’re an automatic set of protections for teens that try to proactively address the top concerns that we’ve heard from parents about teens online,” Mosseri said on GMA. “Things like who can contact them, what content they see and how much time they spend on their device … all without requiring any involvement from the parent.”
Mosseri said the rollout of Teen Accounts starts Tuesday with new users signing up for the app, while existing teen users will see their accounts switch to the new Teen Accounts model within 60 days.
Among the changes put in place by Instagram include a new privacy setting that, by default, places all teen users in private accounts. In order to switch to a public account, teens under age 16 will need a parent’s permission.
Under the private account setting, teens will need to accept new followers and only people whom they accept as followers can see their content and interact with them.
In addition, teen users will now automatically only be able to message with people they follow, or are already connected to, and parents will have a new tool in their settings that allows them to see with whom their teen has recently been messaging.
With the new accounts, teens will have the power to choose the age-appropriate topics they want to see more of on Instagram, like sports or art, and parents will also be able to see the topics their teens choose.
In order to limit the amount of time spent on Instagram, all Teen Accounts will be placed in “sleep mode” between 10 p.m. and 7 a.m., while parents can also adjust their child’s time settings — including limiting access completely overnight — in the parental supervision tool.
Another change for Teen Accounts is that they will automatically be placed in more restrictive content settings, which will limit the content they see in search functions like Reels or Explore from accounts they don’t follow, according to Instagram.
Antigone Davis, vice president and global head of safety for Meta, the parent company of Instagram, told GMA the company is also implementing new ways to verify users’ ages.
“We are building technology to try to identify if you’ve lied about your age and then move you into those stricter settings,” Davis said. “This is a challenging area for industry, which is why, on top of building that technology that will try to identify age liars and put them into those protective settings, we also will have moments where, if we get a strong signal, we will ask you to age verify.”
Davis said that parents will be able to monitor their teens’ account and adjust their settings from their own Instagram accounts.
“The idea is to really make it simpler, so they [parents] have their own center that they can go and look and see what the privacy setting is for their teen,” she said.
Changes spurred by parents and teens
The changes for teen Instagram users come amid mounting evidence showing the dangers of social media for young users.
Social media use is linked with symptoms of depression and anxiety, body image issues, and lower life satisfaction for some teens and adolescents, research shows. Heavy social media use around the time adolescents go through puberty is linked with lower life satisfaction one year later, one large study found.
U.S. Surgeon General Dr. Vivek Murthy, who previously issued an advisory highlighting a crisis in youth mental health, has said he believes being on social media “does a disservice” to kids early in their teen years. Noting the crisis among kids, the American Psychological Association last year issued the first guidance of its kind to help teens use social media safely.
In January, while testifying at a Senate hearing, Mark Zuckerberg, the CEO of Meta, publicly apologized to parents, caregivers and loved ones of young people who they say were harmed due to social media use, telling them, “It’s terrible. No one should have to go through the things that your families have suffered.”
In his apology, Zuckerberg also emphasized Meta’s efforts on safety, adding, “This is why we invest so much and are going to continue doing industry-leading efforts to make sure that no one has to go through the things your families have had to suffer.”
Davis said the newly-announced changes to Instagram for teen users came after conversations with parents and teenagers around the world.
She said the company focused on making it simpler for parents to know how, when, and with whom their teens are engaging on Instagram.
“We’ve had these incremental changes along the way as we’ve been working back and forth with parents and experts,” Davis said of previous safety changes for teen users. “What we’re really trying to do here is standardize a lot of this approach.”
She added of the new features, “There are these broad protections that we have in place, and if your teen wants to change them, and they’re under the age of 16, they have to come to you for permission, they’ve got to invite you in. It’s just a different way of thinking about things.”
Parents and caregivers as well as teens can learn more about Teen Accounts by visiting Instagram.com/teenaccounts.
