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Facebook shares lost 20% yesterday in after-hours trading. Right now they're down $42.19 (19.38%). Analysts say Facebook's valuation "remains solid." Umm.....okay.
Facebook's stock plummets as social media giant's growth rate falls short
http://www.latimes.com/business/la-f...726-story.html
On October 24, 1929, selloffs caused the the stock market to lose 11% of its value at the opening bell. The day became known as "Black Thursday." Today Facebook had a "Black Thursday" of its own.
Facebook's $100 billion-plus rout is biggest loss in stock market history
CNBC, Jul 26 2018 1:17 PM
Facebook today posted the largest one-day loss in market value by any company in US stock market history. The social media giant's market capitalization plummeted by $119 billion to $510 billion as its stock price plummeted by 19%. Facebook's enormous loss in value came a day after the company reported weaker-than-expected revenue for the second quarter as well as disappointing global daily active users, a key metric for Facebook. The company also said it expects its revenue growth rate to slow in the second half of this year.
https://www.cnbc.com/2018/07/26/face...mpany-sin.html
Millions of people spend billions of hours on social media sites and lose all track of time. Facebook and Instagram will now monitor those billions of hours and alert users who are turning into addicted zombies. (Those are my words, not Facebook's, but I think they're accurate.)
Facebook unveils tools to tell users when to stop scrolling
http://www.latimes.com/business/la-f...801-story.html
How much do you want to bet that 20,000,000 Russians knew about Stamos' resignation before he made an official announcement?
Facebook chief security officer Alex Stamos leaving company to teach at Stanford
https://www.cbsnews.com/news/alex-st...ng-2018-08-01/
An estimated 300,000,000 guns are in the hands of private citizens in the United States. That is truly scary. Facebook is to be commended for banning sites that show people how to make even more guns.
Facebook bans websites that host and share blueprints for 3D-printed guns
https://www.cbsnews.com/news/faceboo...-printed-guns/
I have a feeling that if I had started a thread devoted to good news about Facebook, it would be blank. Here is the latest foul faulty foible Facebook is facing:
US regulators target Facebook, allege discriminatory housing ads
The Associated Press, Aug 17 2018 1:20 PM
Federal regulators have served Facebook with a complaint alleging the company's advertising tools allow landlords and real estate brokers to engage in housing discrimination. Justice Department lawyers disclosed the complaint by the Department of Housing & Urban Development today in a court filing made in a lawsuit brought against Facebook by advocacy groups last spring. The lawsuit says Facebook's systems allow people placing real estate ads to exclude certain audiences from seeing them, such as families with young children or disabled people. In its filing, the Justice Department took the side of the advocates, saying the company was enabling advertisers to violate housing laws.
http://www.latimes.com/business/la-f...817-story.html
For many people in Buddhist-majority Myanmar, Facebook is their only source for news and they're being swayed by hate speech and false stories about the Rohingya Muslim minority. The posts have led to assaults, rioting and deaths -- and Facebook is not doing a very good job of monitoring and removing the hate speech.
Facebook failing to tackle hate speech in Myanmar, investigative report finds
https://www.cbsnews.com/news/faceboo...-report-finds/
These fraudulent accounts were used for disseminating Middle East political news and pro-Russia propaganda. They weren't attempting to influence the upcoming US elections. Regardless, it's good that Facebook identified them and got rid of them.
Facebook removes 652 pages and accounts associated with separate influence campaigns originating from Iran and Russia
http://www.latimes.com/business/tech...821-story.html
It took the release of a scathing independent investigative report but Facebook is finally taking action to quash the hate speech against Rohingya Muslims in Myanmar.
Facebook bans Myanmar military chief, 19 other individuals and organizations over hate speech
https://www.cbsnews.com/news/faceboo...ingya-muslims/
Yes, because millions of people in Norway, Thailand and Argentina have been clamoring to be able to watch Bear Grylls, Catherine Zeta Jones and PGA golf, right?
Facebook rolls out its Watch video service worldwide
https://www.msn.com/en-us/news/techn...AV6m?ocid=AMZN