Facebook just can't seem to catch a break lately. From questionable privacy policies and mass data collection of its users to its handling of the so-called "Fake News" epidemic (see "George Soros Is Funding Facebook's "Third-Party Fact Checking" Organization Targeting 'Fake News'"), Mark Zuckerberg is pissing off a lot of people these days. Unfortunately, when your entire business model is based on "friending" others, the alienation of various groups has caused enough people to "dislike" Facebook that the company has landed itself on 24/7 Wall Street's list of "America's Most Hated Companies."
Coming in at #6, Facebook narrowly beat out Spirit Airlines, which, for anyone who has been left stranded by Spirit in Chicago's O'Hare Airport in the middle of winter, that speaks volumes.
- Comcast (NASDAQ: CMCSA)
- Bank of America (NYSE: BAC)
- Mylan (NASDAQ: MYL)
- McDonald’s (NYSE: MCD)
- Wells Fargo Bank (NYSE: WFC)
- Facebook (NASDAQ: FB)
- Spirit (NASDAQ: SAVE)
- DISH Network (NASDAQ: DISH)
- Sears (NASDAQ: SHLD)
- Sprint (NYSE: S)
- Wal-Mart (NYSE: WMT)
- Charter Communications (NASDAQ: CHTR)
Meanwhile, the two largest cable providers in the country also made the list which is astonishing given their impeccable reputation for such helpful customer service and 100% internet reliability. But, only about 40% of the households in the U.S. rely on those two companies for service so it's probably not a big deal.
But, of the top 12, Facebook was the only Silicon Valley giant to make the list despite, as 24/7 Wall Street points out, being a "boon for shareholders since it's IPO."
Facebook has been a boon for shareholders since its IPO. The company’s stock is now trading over 200% higher than its 2012 Wall Street debut. However, not everyone is pleased with the social media platform. In recent years, the company has drawn significant criticism over its privacy policies and the mass data collection of its users.
Recently, the company faced sharp criticism for not doing enough to curb the spread of fake news leading up to the U.S. presidential election. Since then, in an apparent attempt to mend public relations, the company announced a series of new policies aimed at identifying and flagging fake news stories on its site.
Oh well, at least they beat Sears.