Ahead of Facebook’s quarterly earnings call, RFOB has compiled an Investor Guide to give shareholders a snapshot of the kind of returns they can expect on their investments. This quarter for Facebook...
Insurrection: “Facebook allowed far-right groups to organize in Facebook groups, despite repeated warnings culminating in an attempted coup when Trump’s supporters stormed the US Capitol with the mission of taking elected representatives hostage and overthrowing the gov.”
Australia: “In an effort to strong-arm a democratically elected government, the company turned off access to all reputable news content with the hope of reversing legislation that would require the company to negotiate payment deals with news providers.”
533m Breach: “Info from 533m Facebook users was exposed by hackers. Credit is due to the internal public relations team for keeping it quiet, the global policy team for failing to notify regulators and the executive team for taking the decision not to notify users."
Overstating Reach: “In recently unsealed documents, it was revealed that senior executives knowingly “overstated how many actual real people we have in certain demos.” Or as another employee put it “Facebook lies about its user #’s to get record profits.”
Punishing Employees: “Former employee Sophie Zhang came forward to provide evidence to show Facebook has built-in loopholes to protect dangerous world leaders and allowed them to spread harmful content through fake engagement.”
Reasons to buy: If you’re happy to be making hefty returns by investing in a company used to attempt a coup, silencing workers, and allowing the personal info of 533m people to be taken and shared an infinite number of times without consent then Facebook is a definite BUY.
Reasons to sell: Headlines and negative press coverage are now global and constant. Facebook's public credibility rating, already low, is dropping fast. Financial exposure from regulation and possible fines remains high. If this concerns you, SELL.
"Facebook approves alcohol, vaping, gambling and dating ads targeting teens, lobby group finds" by Conor Duffy for @abcnews abc.net.au/news/2021-04-2…
@abcnews "What we found was there was no difference in the way they were treating teenager's data," Reset Australia executive director Chris Cooper said.
@abcnews "It enabled advertisers to buy access to those profiles and target teenagers around very questionable interest areas such as gambling, smoking, alcohol and even their dating status."
As Facebook announces record earnings in just 15 minutes, here’s a reminder of just how much “democracy destruction” the company has caused or facilitated in a single quarter. Remember that, investors. forbes.com/sites/jonathan…
According to Facebook, a data breach of user information occurred “prior to September 2019” executed by “malicious actors.” /2 facebook.com/help/463983701…
NEW: Ethical hacker and breach expert @intidc sat down with the RFOB team for an exclusive discussion on his discovery around the Facebook data breach of 533 million users. THREAD🧵 /1
.@intidc told us that he told Facebook about the contact importer tool, a Facebook tool that made such a breach possible, back in 2017! The company chose not to take action on a serious flaw choosing instead to prioritize growth over privacy security. /2
.@intidc explains why he’s so concerned by the vulnerability he detected. Facebook, in prioritizing user growth over privacy, neglected the safety and security of its users. /3
Hannah & her boyfriend Anthony Huber were in #Kenosha when they saw Kyle Rittenhouse with his semi automatic assault rifle. "Anthony ran off after him and tried to take this kid down." Kyle killed him. #FacebookSurvivors@Avaaz
"The sheer number of times the 'Kenosha Guard Page" had been flagged...455 times... and still the page was not only left up; it was deemed not a danger, when there were people blatantly inciting violence, saying they're gonna shoot black people...It's a complete shock." @Avaaz
"I wish I could even put into words... the kind of pain that it's never going to leave me... How do I explain to my 3yo daughter that he's gone, that we can't go back home and he's gone and he's not coming back. Why? Why?" #FacebookHurts@Avaaz