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July 26, 2018
Facebook Falls 19%+ As Scandals Pile Up and Users Get Sick of Censorship and NannyingNot quite a failure, as this merely wipes out several months of growth, but it's nice anyway. Facebook Inc Chief Executive Officer Mark Zuckerberg's fortune is set to take a $16 billion hit on Thursday, as the social media giant braces for the biggest one-day wipeout in U.S. stock market history, a day after its executives forecast years of lower profit margins. Reuters adds a fun fact-- if you treated the $16+ billion Zuckerberg is set to personally lose as someone's own personal wealth, that person would be the 80th richest person in the world. In other words, Zuckerberg just lost the net worth of the 80th richest person in the world. The Daily Mail, which is here, put it another way: Facebook's one day loss is about equal to the total net capitalization of McDonald's, or Nike. Atomicplaygirl notes that, per the Daily Mail, part of the reason for this huge loss is that FaceBook will begin protecting user's privacy. Well, that's nice. It's only been a decade. Specifically, rather than forcing users to opt out of having their preferences, location, age, etc., packaged up to be sold to advertisers, FaceBook will ask users to opt in to this system.
Industry experts had predicted, ahead of the announcement, that the number of active users visiting the social network would either drop or flat line. Apparently the GDPR is a rule enacted by the EU. Does it apply to Americans, then? Not sure. It ought to. But I don't know. This is scary: To comply with the new regulations, Facebook rolled-out a security check-up to users worldwide which asked them to review what kind of personal information they consent to sharing for advertising targeting. Users were also asked to consent to facial recognition technology on the site. Yeah, it's one thing to say "We got consent!!!" But real consent depends on you accurately and fully warning users what they're agreeing to. Apparently when you do fully apprise people of how you intend to use their information, they're not so willing to give that consent. Some shareholders are looking to kick Zuckerberg out of power. The company, who has about $11 million in Facebook stock, wants to break up Zuckerberg's role as both chairman and CEO, Business Insider reports. Meanwhile, reporters know the real reason for FaceBook's decline -- it permits users to watch FoxNews clips on the platform. Reporters, fresh off of screaming about the White House's abridging CNN's free speech rights, yelled at FaceBook representatives about permitting InfoWars -- and FoxNews!!! -- to appear on FaceBook. Excuse me-- why should any conservative defend the leftwing media's alleged free speech rights when they're actively trying to strip those same free speech rights from a conservative outlet? | Recent Comments
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Along the Disintegrated Border with the Coyotes and Smugglers of the Sinaloa Cartel
Former Anheuser-Busch Executive: Companies Are Being Forced to Propagandize for Woke Causes by Woke Financial Giants Vanguard and BlackRock Missouri AG Attorney Bailey: A Judge Is Rejecting Biden's Argument That He Has the Right to Censor People's Speech THE MORNING RANT: The Satanic Daycare Sex Abuse Panic and the Current Transgender Social Contagion Mid-Morning Art Thread The Morning Report — 6/5/23 Daily Tech News 5 June 2023 Sunday Overnight Open Thread (6/4/23) Gun Thread: First June Edition! Food Thread: Rubber Bands And Shrimp; One SHouldn't Be Like The Other Search
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