Mark Zuckerberg learns the hard way that politics is a full-contact sport
His net worth and Meta's advertising revenue is in decline
COMMENTARY
By David Bossie - - Tuesday, November 1, 2022
OPINION:
They say that politics is a full-contact sport, and it looks like Facebook and its parent company, Meta, are paying a big price for Chief Executive Officer Mark Zuckerberg’s decision to wade into the 2020 election.
Americans were shocked to learned last week that Meta shares dropped an astonishing 25% after a quarterly report became public indicating that the company’s profits plummeted by a jaw-dropping 52%. And to make matters worse for Meta, its fourth-quarter outlook is looking just as gloomy — which will close out a year that’s already seen shares nosedive 61%. This news not only has people wondering where the bottom is for Meta but also what in the world caused this slow moving train wreck to happen in the first place.
Over the past two years, Mr. Zuckerberg’s infamous $400 million spending spree in the 2020 election has received a lot of scrutiny. Citizens United’s documentary “Rigged: The Zuckerberg Funded Plot to Defeat Donald Trump” shows how Mr. Zuckerberg put his thumb on the scale to help then-candidate Joe Biden win the White House by funding what turned out to be a massive get-out-the-vote effort by Democrats in key areas around the country. Our analysis found that 92% of the largest grants — totaling $272 million —went to jurisdictions carried by President Biden.
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READ MORE: https://www.washingtontimes.com/news/2022/nov/1/mark-zuckerberg-learns-the-hard-way-that-politics-/
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