#Facebook is in the crosshairs from multiple angles right now, starting with a lawsuit in Delaware charging #Zuck, #Sandberg and board members w insider trading and "epic corporate governance breakdown." 🧵 1/
@CounteringCrime has been documenting #FB's "epic corporate governance breakdown" for years now -- including repeated cover-ups like this one that have harmed investors. We warned y'all back in 2020 to pull your money out of #FB. It's a HOT MESS. 2/

Moreover, @counteringcrime has documented how the firm has always prioritized profit over public safety and privacy both in our timeline, available here: 3/

Long before @JeffHorwitz and @WSJ got some no doubt fascinating internal docs from #FB researchers, our 40 members were tracking illicit and toxic content on #FBfrom Mexican drug cartel activity and child sex trafficking to the illicit trade in endangered cheetahs. 4/
We began noticing patterns in how #Facebook responds to inquiries about toxic content on its platforms. Zuck and other senior executives have routinely claimed they were too “idealistic” to imagine their platform would produce negative outcomes. 5/ washingtonpost.com/news/the-switc…
That is BS. There’s documented evidence #Zuck was aware of key privacy and safety problems from the very launch of his platform, and just didn’t care. There's a reason #FB has paid so much in settlements to avoid discovery. You see an example of how bad it must look here: 6/
I've had multiple calls from reporters asking me if I think it's time #FB be brought up on criminal charges for #human trafficking, in the wake of the #WSJ report by @newley and @JeffHorwitz 7/

Umm, yes, I do, and honestly human trafficking is just the START. How about all the drugs? FB at any given moment has 100 times more drug postings than the Silk Road had when the DOJ seized its servers. I testified about this in 2019. 8/

For the record, @CounteringCrime has been calling for @TheJusticeDept to investigate whether #FB's hosting of organized crime rises to the level of a RICO violation. I testified about this in April 2021. 9/

#FB is not just a passive host of toxic and illicit content. It's algorithms amplify and grow toxic content - from Covid and Vaccine misinfo to extremist content; also help criminal sellers find buyers, and child predators target kids. More here: 10/
What the #facebookfiles confirm is that FB execs knew what @CounteringCrime has been reporting. "Any decision they make at the company to make people safer has to be weighted against the effect it will have to keep as many people as possible on #FB" 11/

Study after study by @CounteringCrime members shows that toxic and illegal content with high engagement stays up, no matter what the downstream cost to society. Work by other groups like @CCDHate has made similar findings. 12/

So this brings me back to our @SEC_Enforcement complaint, which we first filed in 2017 by the way, before even the #CambridgeAnalytica story broke.

#FACEBOOK IS A TOXIC, HOT MESS & it's gross mismanagement should worry investors, esp #ESG investors, as well as advertisers. 13/
By the way, I wrote to my college classmate @sherylsandberg back in 2019 to suggest it was time to #LEANIN and fix this, but I guess she never got my memo. 14/

Now she's being sued for insider trading and "epic" mismanagement. Yikes. By the way, #FB execs, we're all ears if you want to blow the whistle. Maybe it's time now?? Reach out securely at ACCOtips@protonmail.com

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More from @GretchenSPeters

30 Jul 20
I took the time to read @ma_franks and @daniellecitron's excellent paper on #CDA230 and I'm glad I did. I hope those committees working on reform read it too. I'll summarize some key points here 🧵
Worth reminding y'all that #CDA230's original purpose was "to help clean up the Internet, not to facilitate people doing bad things on the Internet."
The law’s overbroad interpretation by courts "resulted in platforms having scant legal incentive to combat online abuse."
"Allowing attention-grabbing abuse to remain online often accords with platforms’ rational self-interest" as they profit from engagement. Also, firms have mainly "expended resources to stem abuse when it has threatened their bottom line."
Read 10 tweets
27 May 20
We've filed a complaint asking @SEC_Enforcement to investigate and sanction the firm.

We've released an #ESG report and I've personally emailed the CEOs of the pension funds that hold billions of dollars in #Facebook stock. @Vanguard_Group @TRowePrice @Fidelity

We've got more information to release in the coming days and weeks. @Facebook could do a better job at restricting illicit content, and they know the technology exists to do it.
Read 4 tweets

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