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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
Facebook has been working hard to identify and remove hate speech, bullying, fake stories and incitements to violence. The alt-right extremists and looney-birds are now forming private groups where they can spew their hatred with little fear of detection by Facebook. Lovely.
Fringe figures find refuge in Facebook's private groups
https://www.msn.com/en-us/news/techn...PTh2?ocid=AMZN
Facebook now requires buyers of political ads to be US citizens or permanent residents and Facebook has hired thousands of people to monitor for fake accounts and false information. Now if we could just keep Trump off Twitter.....
Facebook is 'better prepared' to fight election interference, Mark Zuckerberg says
https://www.msn.com/en-us/news/techn...gj0s?ocid=AMZN
There hasn't been a negative story about Facebook for two whole weeks. We are way overdue for one -- and, look, here is one now!
Employers are using Facebook to target job ads exclusively to men, complaint alleges
The Washington Post, Sep 18 2018 11:55 AM
Three female job hunters, the 700,000-member Communications Workers of America union and the American Civil Liberties Union lodged a legal complaint against Facebook today, accusing the company of enabling discriminatory job postings with its ad-targeting tools. The complaint also names 10 employers that used Facebook to post job ads — for roles as police officers, truck drivers and sales representatives at a sports store — that were exclusively targeted to men.
The complaint with the federal Equal Employment Opportunity Commission is the latest of several legal efforts that take aim at Facebook's core business of targeting advertising to highly tailored groups of people, a model that made the company more than $13 billion in revenue last quarter.
The groups bringing the charges argue that longstanding civil rights laws that protect people from discrimination are being routinely broken as more job and housing searches move online. Federal laws prohibit employers, lenders, insurers and landlords from excluding people from advertising on the basis of "protected categories," which include gender, race, national origin, religion, age, military status, disability and sexual orientation.
http://www.latimes.com/business/tech...918-story.html
Post-traumatic stress disorder is a condition that develops when a person suffers a tragic or traumatic event, especially an event causing physical harm. Warfare, sexual assaults and major traffic accidents can cause PTSD. A woman who monitored Facebook posts and videos says she developed PTSD by watching "disturbing" videos depicting "child sexual abuse, rape, torture, bestiality, beheadings, suicide and murder." She's suing Facebook -- but If the violent graphic videos were so traumatizing, why did she stay on the job for nine months? I would probably have quit after nine minutes.
Former content monitor sues Facebook, claiming the job gave her PTSD
http://time.com/5405343/facebook-law...-content-ptsd/
Facebook has a "View as" feature which allows users to see their pages the way their friends and acquaintances see them. I should say Facebook had a "View as" feature. It's been disabled while Facebook investigates yet another security breach.
Facebook resets passwords to 90 million accounts after security breach
https://variety.com/2018/digital/new...ch-1202961260/
Facebook has an automated customer-service number, 650-543-4800. I wonder what they would do if Facebook users started calling the number and leaving messages offering solar panels, discount viagra, time shares, health insurance and Medicare information.
Yes, Facebook is using your phone number to target you with ads
https://techcrunch.com/2018/09/27/ye...-you-with-ads/
Thousands of phony accounts set up by Russian trolls, hundreds of thousands of phony ads and phony news stories, a security breach that allowed hackers to access 50 million accounts.....and now this. Maybe the social media company should change its name to Fakebook.
Facebook hoax: Cloned account message is a fake
CBS News, Oct 8 2018 9:07 AM
A viral hoax is spreading across Facebook, prompting officials to warn against heeding the fake messages about cloned accounts. The message says, "Hi. I actually got another friend request from you yesterday, which I ignored, so you may want to check your account." It then asks the recipient to forward the message to all his friends, an instruction that causes the hoax to spread even farther.
While cloned accounts can be an issue -- when fraudsters set up fake accounts using a real person's name -- there isn't a current epidemic, as the hoax message suggests. The hoax works by suggesting an account has been cloned, even when it hasn't, prompting worried users to spread the message to all their friends.
"Your account isn't sending duplicate friend requests. And you didn't receive a request from the person you're forwarding it to," officials in Louisiana warned in a public service message on Facebook. "You're simply doing it because the message tells you to." Facebook didn't immediately return a request for comment.
https://www.cbsnews.com/news/faceboo...age-is-a-fake/
"Johnson? You're okay. Ginsberg? You're okay. Hernandez? You're okay. Ballechini? You're okay? Bolshakov, Zhernakov, Varushkin and Tsekhanovetsky? We need to take a closer look at your accounts."
Facebook removes more than 800 political accounts and pages
CBS News, Oct 11 2018 3:38 PM
Facebook today said it was getting rid of more than 800 pages and accounts for overwhelming users with politically motivated content that broke the social media company's spam rules. Taking a step that could restart accusations of trying to silence certain points of view ahead of the US midterm elections, Facebook said it wasn't moving against accounts because of the content they posted but instead due to their behavior. The offending actions included spamming Facebook groups with identical pieces of content and using phony profiles, Facebook said.
"Today, we're removing 559 Pages and 251 accounts that have consistently broken our rules against spam and coordinated inauthentic behavior," the company said in a blog post. "People will only share on Facebook if they feel safe and trust the connections they make here."
Facebook has faced ongoing scrutiny since Russian agents used the social-media platform to sway American voters before the 2016 presidential election. Separately, Facebook has disabled dozens of accounts and profiles belonging to a Russian database provider for the unauthorized collection of user information. "We expect to find and disable more," Facebook said of the violations of its user terms by SocialDataHub, which has sold analytical services to the Russian government.
https://www.cbsnews.com/news/faceboo...d-of-midterms/
Facebook says personal information of 29,000,000 users was stolen last month, not 90,000,000 as was originally thought. Please forgive me if I don't jump for joy.
Facebook says fewer users were affected by a data breach -- but more information was taken
https://www.msn.com/en-us/news/techn...iMlZ?ocid=AMZN
Here are more details of last month's security breach -- and it brings to mind the old expression, "With friends like these, who needs enemies?"
In Facebook's massive breach, the hackers' friends were the first victims
https://www.msn.com/en-us/news/techn...jOOz?ocid=AMZN