Saturday, July 28, 2018

OPINION_ Wall Street finally taught Zuckerberg the lesson he deserved

NEW YORK POST

OPINION

Wall Street finally taught Zuckerberg the lesson he deserved

By Matthew Hennessey

July 28, 2018 | 10:06am



Facebook stock finally tumbled last week after a long stretch of unresolved privacy issues.
NY Post photo composite/Mike Guillen



This week Facebook CEO Mark Zuckerberg finally got the whack across the nose that many had hoped Congress would give him back in April.

The social-media giant’s stock price took a spectacular nose dive Thursday after the company forecast a slowdown in the rate of new user sign-ups. Analysts reckon Facebook’s limp response to the European Union’s recently enacted digital privacy laws also soured investors on its near-term financial future.

While Zuckerberg spent the first half of 2018 listening to but not really hearing complaints about how Facebook mishandles user data, it’s a good bet he’s listening now. All told, Thursday’s trading vaporized $119 billion of the Menlo Park, Calif., company’s market value. That’s roughly the equivalent of the gross domestic product of Kuwait.

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READ MORE: https://nypost.com/2018/07/28/wall-street-finally-taught-zuckerberg-the-lesson-he-deserved/

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To the three people who don’t realize it already: Facebook doesn’t think of you as the customer; they think of you as the product.

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WHAT do YOU think?


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