- Facebook never had an advisory about shutting down. In fact the wired article notes that the value went even higher during the ongoing hearings.
Taken from WIRED
It’s unlikely, though, that Zuckerberg cared much about the cheap shots and the jokes. He surely noticed that the value of the company rose by about $17 billion during the hearings, making him more than $2.5 billion richer. And in some ways, the most important part of the hearings was to calm his restive employees. In recent weeks, working at Facebook has come to seem a bit like working at Goldman Sachs in 2008. The most important challenge for Facebook is employee retention: Despite the billions the company makes and the kombucha shots it serves on the corporate roof, competition for engineers in Silicon Valley is severe. In recent weeks, Facebook has seemed weak and easy to raid. One employee even boasted publicly of quitting.
And if your metric is employee morale, Zuckerberg’s testimony was a success. Early in the Senate hearings, Orrin Hatch (R-Utah) pushed Zuckerberg on why the company doesn’t have a subscription model. Zuckerberg responded carefully and cautiously. Hatch then asked, “Well, if so, how do you sustain a business model in which users don’t pay for your service?”
Zuckerberg responded, again, with a smile: “Senator, we run ads.”
Since then, in Menlo Park, numerous Facebook employees have repeated the mantra in meetings, joking, “Senator, we run ads.”
How the Ad Business Works
That isn’t to say the hearings went over perfectly, even at home. One mystifying thing to employees was that Zuckerberg frequently seemed to come up short when asked for details about the advertising business. When pressed by Roy Blunt (R-Missouri)—who, Zuckerberg restrained himself from pointing out, was a client of Cambridge Analytica—Facebook’s CEO couldn’t specify whether Facebook tracks users across their computing devices or tracks offline activity. He seemed similarly mystified about some of the details about the data Facebook collects about people. In total, Zuckerberg promised to follow up on 43 issues; many of the most straight-ahead ones were details on how the ad business works. It’s possible, of course, that Zuckerberg dodged the questions because he didn’t want to talk about Facebook’s tracking on national TV. It seemed more likely to some people on the inside, however, that he genuinely didn’t know.
Why was this? Inside Facebook it was simply seen of a sign of something that many of his colleagues know: Zuckerberg is much more interested in product and engineering than he is in the business. His former speechwriter Kate Losse told me that she thinks he did well. But she too was struck by his inability to answer questions about the details of the way Facebook makes most of its money. “I genuinely believe that he doesn’t care about ads.”
Zuckerberg’s marathon testimony also didn’t close out questions about some of his company’s biggest threats. Zuckerberg did not give thorough answers (and the congressmembers did not ask thorough questions) about the extent of Russian operations on the platform. It is still entirely possible that we will, in due course, see the threads of the Cambridge Analytica and Russia stories converge. If that happens, the company will have to deal with something much darker than even the mess of the past few weeks. It will mean, in short, that the data—and even the private messages—of trusting Facebook users ended up in the hands of a foreign adversary trying to manipulate a presidential election.
And there is still the looming issue of the 2011 FTC consent decree, and whether Facebook violated its terms by not acting reasonably to protect people’s privacy after it learned about Cambridge Analytica’s data gathering. An investigation is ongoing, which Zuckerberg did little to put to rest. It could cost the company billions.
Still, back at home, the troops were happy. On Thursday, the day after the hearings ended, Sheryl Sandberg was supposed to address the staff in a company-wide Q&A. Instead, Zuckerberg returned to Menlo Park and answered questions in person. “It was a Mark lovefest,” one employee said.
- Day two of Zuckerberg’s testimony was like two hearings in one, as conservative representatives questioned Facebook’s content-moderation policies.
- A 2011 consent decree that Facebook signed with a federal agency hasn’t prevented additional privacy missteps.
- Read the inside story of the past two years at Facebook.
This satire video has been appearing all over facebook at walls and thru messenger.
with a messenger post like this:
Hi, I’m Mark Zuckerberg The Director of facebook. Hello everyone, it seems that all the warnings were real, facebook use will cost money If you send this string to 18 different from your list, your icon will be blue and it will be free for you. If you do not believe me tomorrow at 6 pm that facebook will be closed and to open it you will have to pay, this is all by law. This message is to inform all our users, that our servers have recently been very congested, so we are asking for your help to solve this problem. We require that our active users forward this message to each of the people in your contact list in order to confirm our active facebook users if you do not send this message to all your facebook contacts then your account will remain inactive with the consequence of Lose all your cont the transmission of this message. Your SmartPhone will be updated within the next 24 hours, will have a new design and a new color for the chat. Dear Facebook users, we are going to do an update for facebook from 23:00 p.m. until 05:00 a.m. on this day. If you do not send this to all your contacts the update will be canceled and you will not have the possibility to chat with your facebook messages Will go to pay rate unless you are a frequent user. If you have at least 10 contacts Send this sms and the logo will turn red to indicate that you are a user Confirmed … We finish it for free Tomorrow they start to collect the messages for facebook at 0.37 cents Forward this message to more than 9 people of your contacts and it will be free of life for you to watch and it will turn green the ball of above do it and you will see.to 9 of you
Dami na naman na bola. Lots of people being scammed again to believing this.