April 9, 2018
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12:28Now PlayingFacebook has been at the wrong end of a mountain of negative PR in the past few weeks. It all started with the giant story of Cambridge Analytica. Steve Bannon and others have been implemented in this case that involves a giant and apparently improper data leak that involved upwards of 80 million people. This data leak has also been leaked to the 2016 election and of course, Donald Trump, seeing as how Steve Bannon has been brought up.
Other ongoing issues at Facebook now have a more attentive audience due to the attention that the Cambridge Analytica brought to improprieties on the platform. Social media mega-stars Diamond and Silk have appeared on Fox News talking about correspondence they’ve been given from Facebook in which they were informed that the “community” has deemed their content. As a result, Diamond and Silk have had their posts receive much less interaction and reach.
Steve Wozniak, co-founder of Apple Computer, joined the #DeleteFacebook movement and got rid of his account due to the data leak scandal. He says Facebook’s primary business model is off of selling information about it’s users to advertisers, even if not in a direct way. He is not the only celebrity calling for this action, many others are as well. Some are doing it to simply virtue signal against Russia. Others are genuinely concerned about the data.
Either way this situation is sliced, Facebook is most certainly in trouble. $36 billion in stock value was lost in just a few hours. Zuckerberg wants to be the face of the business a’la the late Steve Jobs. Unfortunately, he just doesn’t have it in him. The longer he stays out in front, the more the company will suffer. His attention should be focused on making the back-end of his product, rather than hiring speech coaches to help him damage control.
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Facebook's stock tumble cuts $36 billion from the social network's market value
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