Required ’opt-ins’ will squeeze Facebook’s ad business as Apple’s upcoming iOS 14 update asks consumers for permission to be tracked, the social media giant’s CFO reiterated Tuesday, noting other headwinds like a post-Covid spending shift from products to services, and lowering expectations for FB’s Ray-Ban smart glasses.Apple’s AppTracking Transparency policy has put a prompt in iOS 14 requiring users to allow tracking across other apps and sites, or not.
It’s ignited a simmering Cold War between the two companies (both of which are under fire for various alleged abuses of market power).“We do expect this to be an impact to the business and impact our growth rates” chief financial officer David Wehner said at Morgan Stanley’s virtual
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