Facebook share price has dropped by about one-third over past few days
FB has now lost about one third of its market cap over the past few days.
Self negating headline: “More than 70% of Black Americans don’t have wills.”
Surprisingly, the difference between different groups with a will and those without is very tiny and the gap is closing rapidly. But the CNBC headline chooses to spin this with an emotion-laden, inflammatory, click-bait headline.
Facebook and IG could have to shut down European operations
Meta (parent of FB and IG) lost one quarter of its market value last week. This occurred because of significant risks to FB’s core business model – which is surveillance of users to build dossiers used for advertising and marketing purposes. FB no longer has control over the collection of data – as Apple, Google/Android have restricted data collection via apps, and as Europe’s data privacy regulations restrict data. This has long term strategic implications for Meta’s business model. The company noted this in its financial report, hinting that at worst case, it might have to shut FB and IG in Europe.
Facebook censors shared British Medical Journal peer reviewed papers
Facebook censors the British Medical Journal, one of the oldest peer reviewed medical publications in the world. Their offense? Publishing a paper that FB decided must be “misinformation”. Because FB knows more than everyone else.
CNN really did stoop even lower
Rolling Stone reports that former CNN president Zucker and his girlfriend, an EVP at CNN, were actively advising former NY Gov Andrew Cuomo on how to respond in public to Trump’s criticisms, and actively running a media propaganda campaign. Zucker’s resignation was attributed to a romantic conflict of interest that apparently everyone knew about for years – and is not the reason he’s gone. The reason he’s gone is CNN, it turned out, really was running a fake news operation. But for obvious reasons, they could not come right and say that.