Posted on 03/19/2018 8:27:08 AM PDT by Red Badger
Facebook Inc's shares fell more than 4 percent in premarket trading after media reports that a political consultancy that worked on President Donald Trump's campaign gained inappropriate access to data on 50 million Facebook users.
The move would knock $23.8 billion off the social network's market value of $538 billion as of Friday's close and shares in other social media companies including Twitter Inc and Snap Inc also dipped in early deals in New York.
One Wall Street analyst said the reports raised 'systemic problems' with Facebook's business model and a number said it could spur far deeper regulatory scrutiny of the platform.
The head of European Parliament said on Monday that EU lawmakers will investigate whether the data misuse has taken place, adding the allegation is an unacceptable violation of citizens' privacy rights.
Facebook was already facing new calls for regulation from U.S. Congress and questions about personal data safeguards after the reports from the New York Times and London's Observer over the weekend.
(Excerpt) Read more at ca.news.yahoo.com ...
Oh, c’mon. Anyone who isn’t very aware of how FB uses information and spreads it to friends of friends of friends and total strangers is clueless. The data mining for election profiles? You can’t do anything today involving technology, even remotely, that isn’t data mined.
Only Rats are supposed to be able to misuse social media inappropriate data collections.
Nice! They are apparently going to use this [possible false-flag] episode to justify further restrictions on conservative speech and content at Facebook...
They will go up again. FB is a goldmine, run by people who HATE capitalism, but get rich by it.
The only surprise here is that a Trump-aligned firm got access to the data. Everyone assumes Zuckerturd gave all that data for free to the DNC as a matter of course.
FB is worth half a trillion dollars? And produces nothing physical? What a world we live in.
Facebook is fizzling away. It was a fad.
Yep I never understood how Facebook has such value. Never understood how it could be traded on the New York stock exchange. Never understood how it makes money as a business entity which would give it value.
FB produces eyeballs, which they exchange for advertising dollars ...
Which tells you how much the dollar is really worth....................
$752bn Apple
$579bn Aphabet (Google)
$508bn Microsoft
$427bn Amazon.com
$410bn Berkshire Hathaway (Warren Buffet's holding company)
$408bn Facebook
$338bn Johnson & Johnson
$306bn JPMorgan Chase
$277bn Tencent Holdings (Chinese Facebook)
$275bn Wells Fargo
$265bn Alibaba (Chinese Amazon)
$261bn General Electric
$242bn ExxonMobil
You have a way with words, walker! That actually helps me to visualize what Facebook really does. Thank you very much!!
Data safeguards what a joke no data is safe hack it steal it sell it it’s all for sale.
There’s an old adage that’s even more relevant today:
If the product is free, you’re not the customer.
Facebook, complaining about data mining...... LOL. You can’t make this stuff up.
Drudge has headline “Freakout” and the substance is not that it occurred, but that Trump got the data. Wonder who else did, maybe even directly and not through a third party?
So now ZuckF*ck is only worth $72 billion instead or $72.5 billion?
Gee, what a plunge in his fortune.
As the old saying goes - if.tou are getting something for free, you are the product being sold.
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