Facebook Scandal
So if you haven't heard Facebook has been caught up in yet another scandal, reportedly the largest one yet to date with the company. The basis of this crisis centers around the distribution of personal data which went on after the authorization when completing a quiz on Facebook.
While the scandal is the largest threat to Facebook’s reputation to date, it’s certainly not the first. In the past, the company had been involved in controversies over the spread of fake news, the dissemination of racist content, and the live streaming of homicides thus far.What sets this incident apart is the tangible cost, $60 billion, or 11.4 percent of the company’s shares diminished within 2 days of the incident.This massive financial loss isn’t just the consequence of scandal, it’s a symptom of a deeper crisis as users and investors know that the trust with which users once regarded Facebook and other social platforms cannot be restored.Mark Zuckerberg’s poor attempt at damage control, is unlikely to regain the confidence of users, or of investors.
More can be found at https://futurism.com/facebook-social-media-downward-spiral/
While the scandal is the largest threat to Facebook’s reputation to date, it’s certainly not the first. In the past, the company had been involved in controversies over the spread of fake news, the dissemination of racist content, and the live streaming of homicides thus far.What sets this incident apart is the tangible cost, $60 billion, or 11.4 percent of the company’s shares diminished within 2 days of the incident.This massive financial loss isn’t just the consequence of scandal, it’s a symptom of a deeper crisis as users and investors know that the trust with which users once regarded Facebook and other social platforms cannot be restored.Mark Zuckerberg’s poor attempt at damage control, is unlikely to regain the confidence of users, or of investors.
More can be found at https://futurism.com/facebook-social-media-downward-spiral/
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