Yesterday, we showed that according to Wall Street , the biggest tail risk facing investors right now is a "trade war" and that should trade tensions escalate, lower stock prices would be the immediate result. Today, this is precisely what is happening.
"It’s not just Cambridge Analytica that’s been exploiting Facebook through deep diving apps that amuse us with puppy pics, while measuring and tailoring product and messages to our desires and weaknesses. Its happening across the board – it’s a dimly understood marketing revolution."
The European Commission has proposed new tax rules that would require US tech firms to pay taxes in the countries or regions where they generate value - not just where their headquarters are located...
"Facebook has asked us to share our data, to share our lives on its platform... They’re wondering what’s happening to their data. Can they trust Facebook?”
"It’s not a conspiracy anymore because a conspiracy requires secrecy, and they are in the open now. It’s not a theory, it’s a fact and you cannot argue with the facts. They just haven’t told the American people their agenda..."
It's "now time to hear from a senior Facebook executive with the sufficient authority to give an accurate account of this catastrophic failure of process."
Three years after Mark Zuckerberg made Brian Action a billionaire, by paying $22 billion for WhatsApp, the messaging app's co-founder has a clear message for the billions of social media drones worldwide - #deletefacebook.
"We have concerns about the lack of focus on profitability for the company, and the one profitability metric that is used excludes the cost of stock-based compensation."
"We did all the research, all the data, all the analytics, all the targeting, we ran all the digital campaign, the television campaign and our data informed all the strategy."
Facebook has agreed to brief House Judiciary Committee members as soon as Wednesday on the use of personal data of millions of users, in a step that can potentially open a Pandora's Box for the company as virtually all of its clients use and abuse some of the alleged practices to some extent.
Facebook shares are down another 6%, now trading at their lowest in over 5 months, and are weighing on the broad markets as S&P and Nasdaq join Small Caps in the red for the day...
