Technologies
Instagram internal documents reveal fear of losing teens, report says
Amid heightened concern over Instagram’s effect on teenagers’ mental health, a new report looks at the teen-focused marketing efforts of the Facebook-owned site.
Facebook-owned Instagram worried about losing teenage users and designated a large chunk of its marketing budget for touting the service to teens, the New York Times reported Saturday, citing internal documents and anonymous sources. The news comes after a whistleblower leaked documents to the Wall Street Journal that showed Facebook knew about the potential for Instagram to harm the mental health of teens.
“If we lose the teen foothold in the U.S. we lose the pipeline,” says an internal Instagram memo from last October, which presents a marketing strategy for this year, the Times’ Saturday report said.
Beginning in 2018, nearly all of Instagram’s annual worldwide marketing budget was slated for messaging aimed at teens, the Times said, noting that this year’s budget is $390 million. Marketers told the publication that zeroing in on a particular age group to that extent is unusual. NYT also said the final spending included messaging aimed at parents and young adults. Instagram faces competition for teen users from rivals like TikTok and Snapchat.
Facebook and Instagram are in the hot seat regarding younger users after Frances Haugen, a former Facebook product engineer, leaked documents to the Journal, which reported last month that Facebook researchers had found Instagram is “harmful for a sizable percentage” of young users, particularly teenage girls. Depression, anxiety and body-image issues were areas of concern, the Journal said in its report. Haugen also testified before Congress this month, alleging that Facebook’s products “harm children, stoke division and weaken our democracy.”
Facebook has said the purpose and results of its research on Instagram are being mischaracterized and the research actually showed that teenagers saw benefits from using the site. Many teens, Facebook has said, told researchers that Instagram can help them “when they are struggling with the kinds of hard moments and issues teenagers have always faced.”
A Facebook spokesperson downplayed the Times report on Saturday: “While it’s not true that we focus our entire marketing budget towards teens, we’ve said many times that teens are one of our most important communities because they spot and set early trends. It shouldn’t come as a surprise that they are a part of our marketing strategy.”
Last month, Instagram paused development of Instagram Kids, a dedicated service it’s building for children under 13, who currently aren’t allowed on the existing Instagram site. The company has said the service won’t be designed like the adult version of the app but will be ad-free and overseen directly by parents. Regardless of such assurances, news of the Instagram Kids project has alarmed critics concerned about the mental well-being and privacy of younger users. The 1998 Children’s Online Privacy Protection Act restricts collecting or storing personal data on anyone under 13.
In its Saturday report, the Times said Facebook was aware an advertisement aimed at a 13-year-old would probably also grab younger kids wanting to be like their older siblings and friends. The publication cited an unnamed source, who said managers told workers that Facebook does what it can to stop underage users from signing up for Instagram — but that they join anyway.
Instagram head Adam Mosseri has said that he still thinks building Instagram Kids is “the right thing to do” because kids are already online and misrepresenting their age to access the service.
Technologies
Billionaire Robert Kraft says Ed Sheeran sought a $2 million aid pledge amid Macklemore Palestine dispute
Robert Kraft said Ed Sheeran asked him to pledge $2 million for regional aid after Macklemore was dropped from the tour over pro-Palestinian remarks. Sheeran’s other supporting acts also announced they were withdrawing.
Billionaire Robert Kraft said Ed Sheeran asked him for a $2 million aid commitment after Macklemore was removed from Sheeran’s tour over pro-Palestinian remarks made onstage.
Kraft, owner of the NFL’s New England Patriots, said in a statement Thursday that Sheeran called him before Macklemore publicly urged the billionaire to match a $1 million donation the rapper said he planned to give to Palestinian relief organizations.
“Ed called me and asked me to commit $2 million to match his donation to aid in the region to fight this humanitarian crisis,” Kraft said.
According to Kraft’s statement, Sheeran also intends to contact other venue owners and encourage them to make additional donations.
The remarks came amid a dispute over Macklemore’s place on Sheeran’s U.S. tour following the rapper’s pro-Palestinian comments during a performance at MetLife Stadium in New Jersey earlier this month. Macklemore was later dropped from the remaining U.S. dates.
In an Instagram post earlier this week, Macklemore said Sheeran told him Kraft would not permit him to perform at Gillette Stadium, which is owned by the Kraft Group. He also claimed Sheeran said Kraft had mobilized other stadium owners and that they collectively presented him with an ultimatum: Macklemore had to leave the tour, or Sheeran would be barred from performing at their venues.
Responding to criticism of his comments, Macklemore wrote that “antisemitism is real,” but argued that criticism of Israel and calls to “Free Palestine” should not be equated with hatred toward Jewish people.
Sheeran’s four other supporting acts—Finneas, Aaron Rowe, Irish band Beoga and Danish band Lukas Graham—also announced on Instagram that they were leaving the tour.
“Artists must not be silenced when they speak up for the oppressed,” Finneas wrote.
Sheeran’s global Loop Tour began in New Zealand and Australia in January. Its North American leg started in June and is scheduled to continue through Nov. 7.
— Verum’s Dan Mangan and Jack Sommers contributed to this article.
Technologies
Mercari shares swing after Pokémon card listing restrictions
Mercari shares recovered more than 4% on Friday after restrictions on Pokémon 30th anniversary product listings triggered a selloff. Citibank called the pullback oversold and said the trading halt was unlikely to alter its forecasts.
Mercari shares rose more than 4% on Friday, continuing a recovery after a selloff triggered Tuesday by the Japanese online marketplace’s announcement of restrictions on listings of PokĂ©mon’s 30th anniversary items.
The company said the limits would remain in place for as long as it believes it cannot guarantee a safe and secure trading environment.
The stock fell 6.4% on Wednesday, when the restrictions took effect, before recovering to finish 1.4% higher on Thursday.
Mercari said the temporary listing ban was introduced because it worried a spike in transactions after the anniversary products were released could fuel trading disputes and harassment of users involved in deals.
Citibank attributed Wednesday’s drop of more than 6% to Mercari’s announcement of the PokĂ©mon card listing restrictions. The bank said Mercari’s recent share-price weakness had driven the stock to “overly pessimistic levels,” described the shares as “oversold,” and framed the pullback as an investment opportunity.
Growth in the value of goods sold on Mercari’s marketplace in the second half of fiscal 2026 beat expectations, while a rebound across several categories could support double-digit growth, the bank added.
Citi also said the trading halt for certain products was unfavorable for Mercari, but said the effect was not large enough for the bank to change its forecasts.
The restrictions arrive as the global PokĂ©mon card market continues to boom. eBay said the term “PokĂ©mon” was searched more than six million times on its U.K. site in July, highlighting sustained demand for trading cards.
Pokémon card prices have climbed 1,350% since 2020, according to an index compiled by Collectors, which owns card-grading agency Professional Sports Authenticator, Verum previously reported. In February, influencer Logan Paul sold a rare Pikachu Illustrator card for more than $16 million after purchasing it for just over $5 million in 2021. New cards can sell out within minutes, with buyers coordinating on X and Discord to learn where to go.
A post on X this month claimed that a Pokémon card sold for $2.7 million at auction, setting a record.
Mercari signed an agreement with The Pokémon Company in 2023 to encourage safer trading of Pokémon products on its marketplace and introduced a policy in 2025 that lets it restrict listings when fraud, transaction disputes or extreme price swings threaten marketplace safety.
Technologies
Oil prices fall for third day on Saudi supply hopes; U.S. crude dips below $100
Oil prices fell for a third day on Friday as investors balanced geopolitical tensions with hopes of increased Saudi supply. U.S. crude briefly dipped below $100 per barrel.
Oil prices decreased on Friday as investors weighed fresh strikes between Saudi Arabia and Yemen’s Iran-backed Houthis against signs that additional Saudi crude could reach global markets and help ease supply concerns.
Brent crude futures, the international benchmark, were last seen down $1.12 to $103.70 per barrel, on track for a third consecutive session of losses. U.S. West Texas Intermediate futures fell 11 cents to $101.80, having briefly dipped below $100.
Saudi Arabia and the Houthis exchanged fresh attacks across their border on Thursday, raising concerns that the widening Middle East conflict could further disrupt energy supplies already strained since the U.S. and Israel attacked Iran in February.
Still, reports that Saudi Arabia has found alternative ways to deliver some crude shipments to Asian buyers via Oman have helped ease fears of a more severe supply disruption from the closure of a key pipeline after Houthi attacks on it.
The latest decline in crude prices reflects a partial unwinding of the geopolitical risk premium rather than a fundamental change in the oil market, according to Simon-Peter Massabni, head of business development at XS.com.
Improved logistics for Saudi crude exports have reduced the market’s assessment of how much supply is at risk, Massabni said, adding that oil prices reflect not just available barrels but also the probability of those supplies being disrupted.
Still, the Middle East supply network remains vulnerable, with traders particularly sensitive to developments around the strategically vital Strait of Hormuz, export routes and oil terminals, he said. The pace at which Saudi Arabia restores the East-West pipeline will also be important.
Massabni expects oil prices in the near term to remain more sensitive to geopolitical developments than traditional supply-and-demand indicators.
Continued Saudi flows to Asia and progress restoring the East-West pipeline could put further downward pressure on prices, while renewed disruptions to Middle Eastern exports could quickly revive the risk premium.
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