Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Advertisement Supported by ByAdam Satariano April 26, 2018 LONDON — Facebook’s chief executive, Mark Zuckerberg, escaped tough questioning during congressional testimony this month in part because American lawmakers weren’t well versed about how the social network functions. On Thursday, one of his deputies faced a decidedly sharper inquisition from a panel in Britain. The dueling experiences highlight the different approaches taken on both sides of the Atlantic toward oversight of personal data and the social media giants who hold it. While the United States has largely eschewed regulating companies like Facebook, Britain and other countries in Europe have taken more aggressive stances, seeking to make tighter rules to better protect consumer privacy. In London, Facebook’s chief technology officer, Mike Schroepfer, faced … [Read more...] about Unlike in U.S., Facebook Faces Tough Questions in Britain
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There was a lot of chatter on Wall Street over the past few weeks that Facebook might want to report a relatively quiet quarter this time around. The idea was that it would look unseemly to report another quarterly boom while the company was fending off scandalous headlines about data abuse and lawmakers exploiting the scandal to make headlines.Keep your head down. No one will blame you. You can come back with the big numbers later. Some even said that investors wouldn’t punish the company if it missed analyst expectations because, you know, wink, wink, the company was just doing what it had to do to get through a difficult time.If Facebook heard any of that advice–which, I mean, of course it did, it’s Facebook, it hears everything–it was happy to ignore it. Facebook reported a riotous quarter. Adjusted earnings per share were $1.69, topping expectations of $1.35. Last year the company reported $1.04. Revenue rose by 50 percent to $11.97 billion. Analysts … [Read more...] about What Scandal? Facebook Has $44 Billion in Cash, 27 Thousand Employees, and Its Revenue Rose 50%
On the day that Facebook co-founder and CEO Mark Zuckerberg testifies before the Senate, a CBS News/YouGov survey was released that shows what American Facebook users are thinking about the social network following the Cambridge Analytica revelations. To recap very briefly, it appears that 87 million Facebook profiles were used by consulting firm Cambridge Analytica without permission, possibly violating a consent decree that Facebook signed with the FTC back in 2011. The FTC is investigating.According to a survey of U.S. based Facebook users, 63% believe that their personal data is unsafe and is disseminated to third parties that they don't choose. And it seems that Americans aren't too optimistic about what the future holds for Facebook. 61% of those surveyed say that they do not have much confidence in Facebook's ability to come up with a way to protect personal data. 70% believe that Facebook won't be able to devise a way to stop the use of fake accounts, and 69% expect viewing … [Read more...] about Majority of U.S. Facebook users say their personal data is unsafe; class action lawsuit is filed
By Ben Parr2011-01-03 01:01:21 UTC Under the terms of Facebook's massive new round of funding, Goldman Sachs will invest $450 million in the social network, while previous investor Digital Sky Technologies will add an additional $50 million. Not only that, but Goldman Sachs will help Facebook raise an additional $1.5 billion through a "special purpose vehicle" designed to allow outside investors to indirectly invest in the company. Facebook had previously raised $800 million, so when all is said in done, the social giant will have raised an astounding $2.8 billion. What will Facebook buy with all that new cash? The first thing Facebook's likely to do with its $2 billion in new funding is to cash out some of its existing investors and employees. The social network previously did this when DST bought $200 million in Facebook stock from its employees. Some of its early investors may also reach into the $2 billion pot and cash out. Once that's done, it's all about growth. We've … [Read more...] about What Will Facebook Do With All That Money?
What happens to someone's Facebook account when they die? Well, if they had the foresight to designate a legacy contact prior to passing away, Facebook will hand the reins of their account over to their designated contact upon proof of their death. But what if your loved one -- like the majority of young, invincible social media users -- never got around to getting their social media affairs in order? If one of your Facebook friends has passed away and their account is still active, here are your options.Legacy contacts Legacy contacts are named by the account holder prior to their death -- a family member or a friend who will be able to manage the person's memorialized account when they die. Legacy contacts can post a pinned post at the top of the deceased user's Timeline, respond to new friend requests, and update the person's profile picture and cover photo. They can also, with the deceased user's permission, download an archive of the user's photos, Timeline posts, and profile … [Read more...] about How to memorialize someone’s Facebook account