Stock Market Winners & Losers: Stocks Fall for a Third Day | Tinder to Require Video Selfies to Verify Users
Loser: Stocks fall for a third day
Stocks experienced a third consecutive day of decline as investors awaited Nvidia's quarterly earnings report. Despite this, the market has seen gains in 14 out of 16 weeks. Concerns have risen about Nvidia's high valuation due to its shares surging approximately 230% over the past year. Additionally, Wall Street is anticipating the release of the Federal Reserve's January meeting minutes. In other news, Amazon is set to join the Dow Jones Industrial Average, while Uber will join the Dow Jones Transportation Average.
Winner: Tinder to require video selfies to verify user IDs
In 2022, nearly 70,000 individuals reported falling victim to romance scams, resulting in financial losses of $1.3 billion. A significant portion (19%) of these scams originated on dating apps. Match Group, which owns popular platforms like Tinder, PlentyOfFish, OkCupid, and Hinge, is addressing this issue. Tinder plans to enhance its ID verification process by incorporating a video selfie submission and requiring users to provide a valid driver's license or passport for a blue verification checkmark. This verification process aims to ensure that users' profile information matches their identity, leading to a 67% increase in matches for verified users based on trials. However, implementing ID verification raises concerns about privacy, including potential data breaches, misuse, and government surveillance.
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