tyb
>>6316780 lb
That's why this process of calling it all out has taken this long. Shit goes on in the shadow's all the time. This is a multi-decade problem but it goes back hundreds of year's , if not thousand's.
It's one of the moar powerful one's, not mine but it is sometimes my desktop when I need perspective.
o7
Facebook users care less about privacy than regulators
really…and who exactly did you ask?
(Reuters) - Facebook Inc is preparing for a record-setting fine from U.S. regulators over privacy issues, but Wall Street shrugged at the looming penalty after the company added users and trounced profit expectations for the first quarter.
It has been just over a year since Facebook’s improper data sharing with political consultancy Cambridge Analytica launched probes on both sides of the Atlantic. That included a U.S. Federal Trade Commission (FTC) investigation into whether Facebook violated a 2011 agreement over user privacy.
Some companies pulled their ads off the social network and users tweeted #DeleteFacebook as they shut down their accounts. And investors knocked nearly $70 billion off Facebook’s market value in less than a month as executives admitted costs of fending off outright regulation would spiral.
But Facebook is now worth $40 billion more than it was right before the scandal erupted. Shares surged 6 percent on Thursday, the day after it disclosed a $3 billion litigation accrual in quarterly earnings that otherwise beat estimates.
(going to be $5b is my prediction or it should be)
“With each fresh scandal, commentators and politicians demand vague action and declare the end is nigh,” said Ben Marder, senior lecturer in marketing at the University of Edinburgh Business School.
“All this just solidifies Facebook as a shining example of ‘whatever doesn’t kill you makes you stronger’. Figures show its users are generally happier now, following alterations to the algorithm to give them more ‘meaningful content’.
Facebook’s namesake app logged an 8 percent rise in users from the first quarter last year. The company raised its 2019 expense forecast, but the financial penalty itself prompted few concerns.
There were some worries from analysts about changes the FTC could potentially force as part of a settlement, however, and how new requirements might hurt ad targeting and revenue.
Facebook founder and Chief Executive Mark Zuckerberg in March said he was open to government oversight of social media, and in a blog post said Facebook’s future is in private messaging. The company is also working on a WhatsApp-based payments system.
Analysts appear to buy into Facebook’s vision, though it has not articulated how it will adapt its ad model. In the meantime, they said advertisers will still be drawn by its massive user base.
“While marketers may say privately that they do worry about Facebook’s problems with fake news, election meddling, privacy and more, they worry more about their own financial health, and Facebook is still a major partner in that regard,” eMarketer analyst Debra Aho Williamson said.
Facebook is also a global and diversified company. Its U.S. users have held relatively steady in recent quarters, but overseas markets fuel growth.
https://www.reuters.com/article/us-facebook-growth-analysis/facebook-users-care-less-about-privacy-than-regulators-idUSKCN1S12MG?il=0
Hesitant to put this in but HOLY SHITBAGS is this a biased piece of crap.
top kek anon.