Confirmation of a US Government Probe Pushes Facebook's Market Loss To $90 Billion

[DamianTV]

https://yro.slashdot.org/story/18/03/26/2030211/confirmation-of-a-us-government-probe-pushes-facebooks-market-loss-to-90-billion


The US Federal Trade Commission has confirmed that it is investigating Facebook over its privacy practices, following recent revelations that data firm Cambridge Analytica harvested and exploited tens of millions of users' data without their permission. From a report:

Facebook's stock renewed its downward slide, bringing the company's total loss of market value to around $90 billion since the scandal broke 10 days ago. "The FTC takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook. Today, the FTC is confirming that it has an open non-public investigation into these practices," said Tom Pahl, acting director of the FTC's Bureau of Consumer Protection, in a statement.

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https://qz.com/1237634/cambridge-analytica-scandal-confirmation-of-ftc-probe-pushes-facebooks-10-day-market-loss-to-90-billion/


The US Federal Trade Commission has confirmed that it is investigating Facebook over its privacy practices, following recent revelations that data firm Cambridge Analytica harvested and exploited tens of millions of users’ data without their permission. Facebook’s stock renewed its downward slide, bringing the company’s total loss of market value to around $90 billion since the scandal broke 10 days ago.

“The FTC takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook. Today, the FTC is confirming that it has an open non-public investigation into these practices,” said Tom Pahl, acting director of the FTC’s Bureau of Consumer Protection, in a statement.

The FTC will look into whether Facebook had violated a 2011 consent decree imposed by the regulator, in which the company promised not to share user data without their consent. In 2014, an app developed by a Cambridge University professor accessed the data of up to 50 million people, which he later passed onto Cambridge Analytica, a Trump campaign consultant.

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Full article on link.

[Raginfridus]

Facebook is already dying w/o gubmint. Its one more fad that needs to go.

[Anti Globalist]

The less money Facebook makes the better.

[nikcers]

Unicorn bubble is bursting, don't let the fake news fool you.

[Anti Federalist]

Good...hope it goes tits up in short order.

[VIDEODROME]

Facebook basically replaced MySpace. What will replace Facebook?

My hope is that Facebook dies or at least fragments and something more sensible emerges to replace it. I hope smart startups can seize this moment.

While not perfect, I kind of like LinkedIn. I would like to see many specialized social websites like that who earn money from ads and premium subscriber membership.

[dannno]

Facebook basically replaced MySpace. What will replace Facebook?

When facebook first came out young people posted pictures of themselves partying and having fun like they did on myspace, but then eventually their aunts and cousins and parents joined, employers started watching facebook and they had to cut that shit out..

That all went over to snapchat.

Facebook has a pretty good niche for connecting friends and families, you can add one person in your family or friend group and get a bunch of suggestions based on their friend list.. but people also argue a lot of politics and drama from what I hear (I don't facebook tho)

Would be cool if it went to something like steemit but I dunno if steemit will turn into that sorta social network.

[nikcers]

Facebook basically replaced MySpace. What will replace Facebook?

My hope is that Facebook dies or at least fragments and something more sensible emerges to replace it. I hope smart startups can seize this moment.

While not perfect, I kind of like LinkedIn. I would like to see many specialized social websites like that who earn money from ads and premium subscriber membership.

Facebook will die but as far as a replacement goes the government is trying to make people be afraid of selling their data for pennies on the dollar, it would be horrible if the communists bought the information..


https://www.youtube.com/watch?v=W-KEuvd3S-Q

[nikcers]

One consequence of the CLOUD ACT
976654222879019008

[Raginfridus]

http://s2.quickmeme.com/img/87/8705186375cbfaabc8aef9a6961c918c57fc926474ef3931c9 2f08761a8e7185.jpg

https://www.sayanythingblog.com/wp-content/uploads/2017/07/19983349_10103877842105131_3917016385413639568_o.j pg

https://i.imgur.com/rHjo7bL.png

[Ender]

When facebook first came out young people posted pictures of themselves partying and having fun like they did on myspace, but then eventually their aunts and cousins and parents joined, employers started watching facebook and they had to cut that $#@! out..

That all went over to snapchat.

Facebook has a pretty good niche for connecting friends and families, you can add one person in your family or friend group and get a bunch of suggestions based on their friend list.. but people also argue a lot of politics and drama from what I hear (I don't facebook tho)

Would be cool if it went to something like steemit but I dunno if steemit will turn into that sorta social network.

Yeah, I have no problem with FB and it helps me stay connected with friends & family- and once in a while get support for an event.

I just never go into political discussions ala crap like some do & stay pretty grey- but I do find it convenient, if one is smart about how they use it.

[nikcers]

Yeah, I have no problem with FB and it helps me stay connected with friends & family- and once in a while get support for an event.

I just never go into political discussions ala crap like some do & stay pretty grey- but I do find it convenient, if one is smart about how they use it.
Yeah the feds don't want you doing that anymore... troops are deploying now.. don't resist. :)

[Ender]

Yeah the feds don't want you doing that anymore... troops are deploying now.. don't resist. :)

LOL


https://www.youtube.com/watch?v=FNLUS0o69wQ

[oyarde]

The fact that a crap stock like that is at 160.00 in the first place should be enough for people to realize it is a house of cards economy .

[Anti Federalist]

https://www.sayanythingblog.com/wp-content/uploads/2017/07/19983349_10103877842105131_3917016385413639568_o.j pg
The last time I saw a muthafucker as far out of his element as that, was this:

https://static.politico.com/dims4/default/138b7b4/2147483647/resize/1160x%3E/quality/90/?url=http%3A%2F%2Fs3-origin-images.politico.com%2F2013%2F11%2F01%2Fdukakis_tan k_2_c.jpg

Those guys would spindle Fuckerberg on that drill pipe.

[Anti Federalist]

https://www.youtube.com/watch?v=WbAqWA-dxvw


https://www.youtube.com/watch?v=r8NsZd2CrjU

[DamianTV]

Facebook basically replaced MySpace. What will replace Facebook?

My hope is that Facebook dies or at least fragments and something more sensible emerges to replace it. I hope smart startups can seize this moment.

While not perfect, I kind of like LinkedIn. I would like to see many specialized social websites like that who earn money from ads and premium subscriber membership.

I fear something far worse...

[Aratus]

LOL


https://www.youtube.com/watch?v=FNLUS0o69wQ

Neat film clip! :)

[Aratus]

A 100 billion dollar dip for Facebook, a 1000 point selloff last week for the DOW?

If the 'bear' flipflops back to bull market, can our POTUS be ever happy & gleeful?

[euphemia]

Stinkerburg needs to go to jail.

[Aratus]

The fact that a crap stock like that is at 160.00 in the first place should be enough for people to realize it is a house of cards economy .

true... It's 'bear'

[timosman]

Stinkerburg needs to go to jail.

I am curious who put him in place. There is no way a schmuck like this would end up with this much money. Not on this planet.:cool: