Facebook Stock Plunges Over Data Scandal  

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Facebook slid $42 billion in market value since The New York Times reported Friday that Cambridge Analytica “harvested private information from the Facebook profiles of more than 50 million users without their permission.” After a weekend of backlash, the social network’s stock was down seven percent Monday, while the Dow Jones industrial average was down more than one percent.
The stock drop also comes as the social-networking site investigates employee Joseph Chancellor’s ties to the data firm. Chancellor is currently a “virtual reality researcher” at Facebook but was the former director of Global Science Research (GSR)—the firm who provided the data to Cambridge Analytica, according to CBS News. A GSR spokesperson told CBS “there was no recollection of any interactions or emails” with Chancellor.
Over the weekend, Facebook suspended from the platform former Cambridge Analytica employee and whistleblower Christopher Wylie along with former GSR director Aleksandr Kogan. Read more at MARKET WATCH.
{Matzav.com} 

2 COMMENTS

  1. Great news! Let this evil media continue going down, down until they’re bankrupt. Perhaps then the “atheist” Zuckerberg will drop his goyte and start doing tshuva.

  2. In 2012, the Obama campaign encouraged supporters to download an Obama 2012 Facebook app that, when activated, let the campaign collect Facebook data both on users and their friends.
    According to a July 2012 MIT Technology Review article, when you installed the app, “it said it would grab information about my friends: their birth dates, locations, and ‘likes.’ ”
    The campaign boasted that more than a million people downloaded the app, which, given an average friend-list size of 190, means that as many as 190 million had at least some of their Facebook data vacuumed up by the Obama campaign — without their knowledge or consent.
    If anything, Facebook made it easy for Obama to do so. A former campaign director, Carol Davidsen, tweeted that “Facebook was surprised we were able to suck out the whole social graph, but they didn’t stop us once they realized that was what we were doing.”

    This Facebook treasure trove gave Obama an unprecedented ability to reach out to nonsupporters. More important, the campaign could deliver carefully targeted campaign messages disguised as messages from friends to millions of Facebook users.

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