Facebook woes: A timeline of scandals plaguing Zuckerberg’s company

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Fb workers reportedly requested to analysis George Soros

Loup Ventures Managing Director Gene Munster on Fb workers reportedly requested to analysis George Soros by COO Sheryl Sandberg and Amazon’s potential position in well being care.

Fb was as soon as the crown jewel of the Silicon Valley tech giants, however in a yr of elevated oversight on Capitol Hill, Mark Zuckerberg’s social media platform has been affected by scandals.

Shares of Fb have fallen to $139.34, the bottom since April 2017, in comparison with $177.18 throughout the identical interval final yr. Zuckerberg has additionally misplaced a whopping $17.eight billion thus far this yr, in line with the Bloomberg Billionaires Index, alongside together with his place because the world’s third-richest particular person (he’s now ranked sixth).

From George Soros to Cambridge Analytica, right here’s a more in-depth take a look at a few of Fb’s largest controversies from latest years.

2016

Russian teams reportedly flooded Fb with propaganda advertisements and false info in the course of the presidential marketing campaign. Fb ultimately stated Russian accounts purchased greater than $100,000 price of advertisements.

March 17

The New York Occasions and The Guardian printed stunning exposés that exposed Fb had inadvertently allowed the political consulting agency Cambridge Analytica to assemble information from 50 million customers, which was then reportedly used to affect the 2016 presidential election.

That quantity was later corrected to 87 million.

March 21

Zuckerberg apologized for the information breach in a web based weblog submit, explaining the corporate had already taken steps to handle “this necessary situation.”

“This was a breach of belief between Kogan, Cambridge Analytica and Fb,” he wrote. “But it surely was additionally a breach of belief between Fb and the individuals who share their information with us and anticipate us to guard it. We have to repair that.”

April 10-11

Zuckerberg appeared on Capitol Hill to testify in entrance of the Senate Judiciary and Commerce Committees, and in entrance of the Home Power and Commerce Committees the subsequent day.

“Over the previous few weeks, we’ve been working to grasp precisely what occurred with Cambridge Analytica and taking steps to verify this doesn’t occur once more,” he stated in ready remarks.

He additionally addressed election interference, and stated a proposed treatment is to let solely verified customers run electoral or situation advertisements, which might be marked particularly as political advertisements.

“We didn’t take a broad sufficient view of our accountability, and that was a giant mistake,” he stated.

June 3

The New York Occasions reported that Fb struck agreements permitting telephone and different system makers — together with Apple, Amazon, BlackBerry, Microsoft and Samsung – entry to massive quantities of customers’ private info.

Sept. 5

COO Sheryl Sandberg testified on Capitol Hill earlier than the Senate Intelligence Committee relating to efforts to determine and forestall makes an attempt by international governments to unfold false info on social media platforms.

She agreed that customers ought to personal their private information and data.

Sept. 28

Fb revealed {that a} hack allowed attackers to reap tens of millions of telephone numbers and e-mail addresses. The corporate later stated the hackers used 400,000 accounts beneath their management to achieve the entry tokens of 30 million Fb customers. It was the most important information breach within the firm’s historical past.

Nov. 14

In a stunning report, The New York Occasions detailed alleged ways by the corporate to delay, deflect and deny scrutiny over Russian disinformation and the rising unfold of hate speech.

Fb officers denied quite a few allegations made within the Occasions piece, which stated the corporate’s management was not quick sufficient to handle the unfold of faux information, all whereas it uncared for to research Russian interference within the 2016 presidential election.

It additionally revealed Fb’s ties to Washington-based public relations agency that, in line with the Occasions, sought to discredit the social community’s critics, typically by linking them to liberal activist George Soros, a frequent goal of anti-Semitic assaults.

Fb severed ties with the group, Definers Public Affairs, that very same day.

Nov. 15

Fb introduced in a prolonged weblog submit that it could create an unbiased physique to watch offensive content material.

“As I’ve thought of these content material points, I’ve more and more come to consider that Fb mustn’t make so many necessary selections about free expression and security on our personal,” Zuckerberg wrote.

Nov. 30

Two weeks after the unique bombshell report, the New York Occasions reported that Sandberg requested Fb’s communications workers to analysis Soros’ monetary pursuits after his high-profile assaults on tech firms — Fb specifically.

“Mr. Soros is a outstanding investor and we appeared into his investments and buying and selling exercise associated to Fb,” the corporate stated in an announcement to the Occasions.

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