Facebook controversy
So what do you guys think of the current Facebook controversy?
Doesn't seem like it's actually affecting the stock price.
Mark Zuckerberg's Former Mentor: 'The People at Facebook Live in Their Own Bubble'
Mark Zuckerberg's Former Mentor: 'The People at Facebook Live in Their Own Bubble'
McNamee wrote he felt “shocked and disappointed” upon learning of Facebook’s handling of user data and how the platform was used to spread misinformation during the 2016 election and Brexit vote in the U.K. “I have never had a reason to bite Facebook’s hand. Even at this writing, I still own shares in Facebook,” McNamee wrote. “My criticism of the company is a matter of principle, and owning shares is a good way to make that point.”
From his activist investor perspective, McNamee wrote that Facebook’s business M.O. for the past several years has focused on growth hacking -- measuring how users reacted and interacted with all aspects of the social platform, down to small changes in how the site looked.
“Every action a user took gave Facebook a better understanding of that user -- and of that user’s friends -- enabling the company to make tiny 'improvements' in the user experience every day, which is to say it got better at manipulating the attention of users,” McNamee explained. “Any advertiser could buy access to that attention. The Russians took full advantage. If civic responsibility ever came up in Facebook’s internal conversations, I can see no evidence of it.”
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