Tag Archives: Facebook

Musk v Facebook: SpaceX chief deletes account

It’s been a tough week for Facebook with the fall-out from the Cambridge Analytica scandal. Now the social media giant may have met its worst enemy yet – everybody’s favorite comic book supervillain, Elon Musk. Facebook has come under intense scrutiny following revelations that Cambridge Analytica harvested data from millions of people’s profiles to sell to the highest bidder. These ...

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Facebook hit with shareholder lawsuits over data misuse crisis

The lawsuits are piling up against Facebook in the wake of the Cambridge Analytica data misuse and political ad targeting scandal. According to SF Gate the company has been hit with four suits in federal courts so far this week following fresh revelations about how Facebook’s app permissions were abused to surreptitiously suck out vast amounts of user data. One lawsuit ...

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Sheryl Sandberg says Facebook leadership should have spoken sooner, is open to regulation

The days of silence from Facebook’s top executives after the company banned the political advisory service Cambridge Analytica from its platform were a mistake, according to Sheryl Sandberg. In a brief interview on CNBC, Sandberg said that the decision for her and company chief executive and founder Mark Zuckerberg to wait before speaking publicly about the evolving crisis was a ...

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Facebook ‘hypocrites’ working against online privacy law – campaigner

Tech giants including Facebook and Google are pumping millions of dollars into halting new laws in California which would expand online privacy protections. Campaigners hope this week’s revelations will force a Facebook climbdown. As Facebook’s share price tumbled this week following the Cambridge Analytica debacle the the chief supporter of the California Consumer Privacy Act of 2018 accused the Silicon ...

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Zuck and Sandberg go M.I.A. as Congress summons Facebook leadership by name

The bad thing about making your face synonymous with the company you run: When you go M.I.A., everyone tends to notice. The callout posts began over the weekend. Normal Facebook users don’t always track the tech press outrage cycle, but a flurry of reporting on Facebook’s mishandling of the private data of 50 million users, and Facebook’s subsequent mishandling of ...

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Cambridge spies v. sore loser Democrats? Fallout of Facebook data scandal dissected (DEBATE)

London-based political strategy firm Cambridge Analytica has suspended CEO Alexander Nix who had boasted of global backroom influence. RT has hosted a debate on what the fallout of the unfolding Facebook data scandal could be. Richard Goodstein, a former advisor to both Bill and Hillary Clinton’s presidential election campaigns, went head-to-head with legal & media analyst and TV personality Lionel. ...

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After selling his company to Facebook for $19B, Brian Acton joins #deleteFacebook

Brian Acton, the co-founder of messaging service WhatsApp (which Facebook bought in 2014 for $ 19 billion), is now joining the chorus of the #deletefacebook movement. A tipster alerted us to the fact that Acton made the same call… on Facebook… as well. Since the sale of WhatsApp (which has made Acton an incredibly wealthy man), Acton has been actively ...

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European, UK and US pols summon Zuck as FTC eyes probe of Facebook over data violations

The fallout from the story concerning Facebook, Cambridge Analytica, the misuse of personal data and how much Facebook knew about all this, has quickly made its way into the halls of government — and with it Facebook’s CEO Mark Zuckerberg is getting a lot of invitations in his inbox. This afternoon, Antonio Tajani, the president of the European Parliament, publicly ...

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Facebook has lost $60 billion in value

Facebook is having a bad day… for the second day in a row. Following the Cambridge Analytica debacle, Facebook shares (NASDAQ:FB) are currently trading at $ 164.07, down 4.9 percent compared to yesterday’s closing price of $ 172.56. More importantly, if you look at Monday and Tuesday combined, Facebook shares are down 11.4 percent compared to Friday’s closing price of ...

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Zuckerberg lost $5 billion in a day following Facebook scandal

Mark Zuckerberg’s net worth plunged by a reported $ 5 billion, the day after a data scandal affecting more than 50 million Facebook users. However, the financial hemorrhage was allegedly limited by him selling off shares. READ MORE: US Federal Trade Commission to probe Facebook for use of personal data – Bloomberg citing source The CEO’s Facebook stock declined by ...

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