"Investors are bailing" from Facebook, writes CNN Money. The share price for the disgraced social media firm has dropped 30% since July. Facebook has had a hard time shaking its image as a firm that happily violates users' privacy, manipulates users emotional well-being, doesn't take proper steps to secure users' data, courts advertisers interested in targeting white supremacists, and sells users' behavioral information to unscrupulous entities.
Despite hours of testimony, a blitz of executive interviews and numerous tweaks to its privacy settings, Facebook has yet to put the Cambridge Analytica issue behind it. And now, Facebook faces the prospect of additional regulatory scrutiny after disclosing a new security breach affecting nearly 50 million users.
The longer the privacy backlash continues, not to mention ongoing concerns about election meddling, the more potential for damage to Facebook's core business.
"For the first time, we've heard some grumblings from the advertiser community that the hot water that Facebook is in politically is creating some hesitation on budget allocations (for some)," Ross Sandler, an analyst with Barclays, wrote in an investor note this week.
Artist Benjamin Grosser created a browser plugin called Safebook, which removes the content from Facebook. Useful! Given the harms that Facebook has wrought on mental health, privacy, and democracy, what would it take to make Facebook “safe?” Is it possible to defuse Facebook’s amplification of anxiety, division, and disinformation while still allowing users to post […]
A new study revealed that monthly page visits to the user-hostile social media site Facebook have dropped from 8.5 billion to 4.7 billion since 2016. From CNBC: “Although Facebook’s app traffic has grown, it is not enough to make up for that loss, the study said. Facebook took a market tumble last month when it […]
Need a boost on that resume? Get a valuable tech education on your own time with these eBook bundles. They contain guides from Packt Publishing that cover everything from game development to machine learning. The Complete Mobile App Developer eBook Bundle It’s a veritable gold rush in the App Store these days. Get in on […]
Vinyl is officially back. People are hearing the proof behind the initial “retro” excitement: that records really do have a richer sound. And if you haven’t switched to old-school records for serious listening, it’s a new golden age. Why? Because quality turntables like the Altec Lansing ALT-500 are finally available to a market other than […]
Between all of our apps, streaming devices, Bluetooth speakers, and energy-sucking decorations, paying for utilities each month can be…brutal. In fact, the average household spends roughly $70 a month on the water bill alone. That number might not seem terribly significant, but when you add it up, that’s $840 a year — a pretty significant […]