FACEBOOK LET NETFLIX SEE USER DMS, QUIT STREAMING TO KEEP NETFLIX HAPPY

Summary from the TLDR newsletter

Facebook Watch, announced in 2017, never really took off. Recently revealed documents show the company's plans for the platform and how it was confident in its ability to compete with Netflix. Mark Zuckerberg abruptly announced a change in strategy in May 2018, suddenly slashing the budget for the platform. He claimed the budget changes were based on his knowledge of the company's strategy and financial outlook. Months later, Facebook and Netflix announced a new data-sharing agreement that involved Netflix reaching $200 million in advertising spend by 2019. The companies also had a data-sharing agreement that may have allowed Netflix to access Facebook users' private messages.