Facebook keeps saying that it’s not selling user data, but it’s making money off it by letting outside parties take a peek.
This is hurting Facebook.
Facebook has paid a price. Employee morale is down, calls for quitting Facebook are growing louder, and the founders of two of its most popular products — WhatsApp and Instagram — have resigned. Facebook’s stock price has declined by more than 20 percent this year, and Zuckerberg lost an estimated $15 billion.
Despite all that, it appears that Facebook’s leadership continues to believe its behavior is the best course of action. It’s a business, and providing dubious access to user data, engaging in and allowing shady political activity, and hiding errors until the last minute, it seems, is perceived as more lucrative than the alternative.
Eventually, Facebook may be forced to really reckon with what’s happened — because of law enforcement actions, fines, regulation, user revolt, or something else. Thus far, through all the scandal, it’s charging ahead. There will surely be another apology soon.
— Ray Krause,
O’Neils