The Death of Social Media, Cont.

“oops.”

CNN:

“Facebook tumbled 7% on Monday, helping to pull the tech-heavy Nasdaq 1.8% lower and S&P 500 1.4%. It was the Nasdaq’s worst day since February 8…

“Facebook is under pressure from lawmakers in both the United States and the UK after more than 50 million users’ data ended up in the hands of data firm Cambridge Analytica.”

Notice the passive construction of “ended up in the hands of”. ‘Tis a mystery how it happened, innit? Come on CNN, you can do better.

The data Cambridge Analytica got is the information Facebook provides to advertisers by design. Cambridge Analytica used that data in ways Facebook didn’t anticipate. Or probably more accurately, Faceberg never anticipated there’d be outrage.

Facebook is in serious merde. This Cambridge Analytica scandal shows us, conclusively that Facebook must be heavily regulated. And THAT is what the market reacted to.

…and salt the earth afterwards.

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8 Responses to The Death of Social Media, Cont.

  1. No the market reacted to serious people finding out that the scam has been revealed. Please…the market is perfectly happy with the kinds of authoritarian gummints that CA helped install. The end game of the Kochs, Mercers, Fuckerman and the vampire Thiel is to establish an oligarchic dictatorship. Money ==Power==Right To Rule.

    Gonna need moar guillotines.

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    • tengrain says:

      Yeah, I should be more clear: the downward slide in the share price is because investors know that Faceberg is gonna end up being regulated. They don’t care that they’ve been doing anything shady—that’s not a bug, that’s a feature. Hell, it’s the FB bidness model—they only are worried that the gravy train is ending.

      Rgds,

      TG

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  2. Redhand says:

    This Cambridge Analytica scandal shows us, conclusively that Facebook must be heavily regulated.

    To say the least. I’m down with the “Burn it to the ground & salt the earth” comment.
    I am really getting to hate out-of-control right-wing billionaires who think they’re above the law.

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  3. The biggest problem for Facebook is that they’ve been exposed. They will do it again, and if they’re up to it, you can guarantee that the rest are. There will be outrage for a week or so, probably while the UK comes up with more to accuses Russia off, and then the media will brush it under the rug. Same ish, different day.

    Liked by 1 person

  4. C Montgomery Burns says:

    Thank god my MySpace profile is safe from harm.
    https://giphy.com/gifs/breakfast-67mCBbP6L3Z2U/links

    Like

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