It is good to see Mark Zuckerberg getting a taste of his own medicine! While he has been busy cashing in stock of the social media giant, facebook’s share value continues to plummet amid the data mining scandal that facebook decided to stop once it discovered that the Trump campaign had mined the data of personal facebook accounts to market for voters.
Barack Hussein did the same thing in 2012 with facebook’s knowledge. They looked the other way, said a facebook exec to an Obama staffer because “they (Team Obama) were on our side.”
Now that Cambridge Analytica has blown up in Zuckerberg’s face like a gag cigar, the value of the social media giant is in a tailspin, which is poetic justice considering what I have watched helplessly Herr Zuckerberg and his congress of flying monkeys (No, really, that’s the official term for a group of monkeys. Apropos, yes?) do to my website by restricting social media traffic. Zuckerberg has been happy to take our (conservatives’) money while driving down our traffic, threatening us, restricting our use of our own pages, and even deleting conservative pages.
Who knows, maybe control freak Zuckerberg has learned what it is like to be constantly threatened and manipulated and he will be a better man for it.
Nah, who am I kidding!?
From Financial Post
Shares of Facebook Inc fell more than 5 per cent on Monday after the U.S. consumer protection regulator made public its investigation of how the social network allowed data of 50 million users to get into the hands of political consultancy Cambridge Analytica.
Scrutiny by the U.S. Federal Trade Commission, which generally confirms the existence of an investigation only in cases of significant public interest, adds to pressure by lawmakers in the United States and Europe for Facebook Chief Executive Mark Zuckerberg to explain how his company handles user data.
Facebook shares briefly dipped below US$150 on Monday for the first time since July 2017, before recouping some losses. They were down 3.1 per cent at US$154.37 in afternoon trading.
At the day’s session low the company had lost $100 billion in market value since March 17, when newspapers first reported that Facebook member data was improperly used by consultants Cambridge Analytica to target U.S. and British voters in close-run elections.
Here’s what the chart looks like since March 19th.
The company also faces rising discontent from advertisers and users. U.S. auto parts retailer Pep Boys on Monday suspended all advertising on Facebook, joining internet company Mozilla Corp and Germany’s second largest bank Commerzbank which made a similar move last week.
Opinion polls published on Sunday in the United States, Canada and Germany cast doubt over the trust people have in Facebook as the firm ran advertisements in British and U.S. newspapers apologizing to users.
Fewer than half of Americans trust Facebook to obey U.S. privacy laws, according to a Reuters/Ipsos poll released on Sunday, while a survey published by Bild am Sonntag, Germany’s largest-selling Sunday paper, found 60 per cent of Germans fear that Facebook and other social networks are having a negative impact on democracy.
Nearly three-quarters of Canadian Facebook users say they will make at least some change to how they use the social media platform in the wake of a data mining scandal.