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Facebook discussed using people’s data as a bargaining chip, emails and court filings suggest
Pretty disgusting. How low will some people go to make a buck?
Facebook executives in recent years appeared to discuss giving access to their valuable user data to some companies that bought advertising when it was struggling to launch its mobile-ad business, according to internal emails quoted in newly unredacted court filings.
@hank: I new you wouldn't let me down, your comments and the WP link have given MFO Members great insights into a mutual fund that no one has ever heard about. Regards, Ted
@Ted, Have you notified @DavidSnowball yet that Facebook has nothing to do with investing or mutual funds? I’m sure he’d be delighted to hear that!
From David Snowball’s December 1, 2018 Commentary:
Mark Zuckerberg and Facebook are ham-handed in their manipulations, with the multi-billionaire Zuckerberg thinking he’s “all that and a bag of chips.” He brooks neither self-doubt nor opposition. It calls to mind a long ago science fiction novel, Kornbluth and Pohl’s The Space Merchants (1953). It’s about a vastly overcrowded world in which huge corporations have supplanted governments and nations exist only to help support those corporations. https://www.mutualfundobserver.com/2018/12/
Many users are not aware of the risk when they signed up with FB, especially when they posed personal information online. Now they learned it is not so easy to remove these information.
Problem is Facebook is #7 holding (1.6% weighing) in the S&P500 index, and that is sizable. Just for comparison, Microsoft is at 3.6% weighing. Thus index fund investors have sizable exposure to Facebook and this posting is relevant to this discussion.
I don’t wish to quote Bill Fleckenstein - whom I read by paid subscription. I’m sure many here would disagree with him anyway. But for the past year he’s been warning about the FANG stocks and technology in general. The most dire warnings, however, were re: Tesla and Apple. And ya know - both of those experienced big sell-offs several months after those warnings began. I think it’s fair to say he’s pretty bearish across the board as well. But really nailed those two.
Comments
Regards,
Ted
From David Snowball’s December 1, 2018 Commentary:
Mark Zuckerberg and Facebook are ham-handed in their manipulations, with the multi-billionaire Zuckerberg thinking he’s “all that and a bag of chips.” He brooks neither self-doubt nor opposition. It calls to mind a long ago science fiction novel, Kornbluth and Pohl’s The Space Merchants (1953). It’s about a vastly overcrowded world in which huge corporations have supplanted governments and nations exist only to help support those corporations. https://www.mutualfundobserver.com/2018/12/
@hank- More to the point: What did he teach? Let's hope that it wasn't spelling or grammar!
Problem is Facebook is #7 holding (1.6% weighing) in the S&P500 index, and that is sizable. Just for comparison, Microsoft is at 3.6% weighing. Thus index fund investors have sizable exposure to Facebook and this posting is relevant to this discussion.
TL;DR - you can't trust statements by Zuck, and by extension, Facebook. Full stop.