Facebook investors call on Mark Zuckerberg to resign as chairman following damaging report
A 16 November 2018 article at The Telegraph reports that investors at Facebook do not seem enthused with Mark Zuckerberg’s leadership.
Facebook investors have called on the company’s chief executive Mark Zuckerberg to step down as chairman, following reports that the company hired a public relations firm to smear its critics by drawing links to George Soros.
The attack on Mr Zuckerberg is set to complicate the daunting challenge facing Sir Nick Clegg, Facebook’s new global head of policy and communications, who joined last month and has been asked to conduct a review of Facebook’s use of lobbying firms.
Jonas Kron, a senior vice president at Trillium Asset Management, a US investor which owns an £8.5m stake in Facebook, last night called on Mr Zuckerberg to step down as board chairman in the wake of the report.
“Facebook is behaving like it’s a special snowflake,” he said. “It’s not. It is a company and companies need to have a separation of chair and CEO.”
Both Mr Zuckerberg and Sir Nick have been under pressure following reports Facebook hired Definers, a Republican public relations firm, to help repair its battered reputation following intense criticism of the social media platform’s handling of a scandal over Russian interference in the 2016 US elections and the Cambridge Analytica scandal.
(Read more at The Telegraph)
Considering the many pro-life groups Facebook has removed without warning, this is not “fitting” or “karma.” Considering the number of conservative campaigns (from Brazil’s Movimento Brazil Livre pages to the Trump pre-midterm ad), they don’t deserve to be heralded as supporters of free speech. They only support one side.
Nonetheless, for Facebook to hire a firm to defend George Soros seems just odd. Maybe this is an indicator that Zuckerberg will not be able to take the firm further left until he takes it off the stock market. With shareholders, he will have to stop his march to the left.
Who knows? With market forces in play, he might have to allow free speech for all. (chuckle)
Senators Threaten to Regulate Facebook
Bloomberg reports in a 16 November 2018 article how Senators Coons and Corker have determined to get Facebook to fly straight.
Senators Chris Coons and Bob Corker warned Friday that Congress would impose new regulations to rein in Facebook Inc. unless the social-media company addresses concerns about privacy and the spread of misinformation on its platform.
Speaking in a joint interview on the sidelines of a development forum in Wilmington, Delaware, the two senators said that Facebook probably wouldn’t like what Congress does, so it should come up with a solution first.
Chris CoonsPhotographer: Andrew Harrer/Bloomberg
“If they don’t, if they continue to act as if we couldn’t possibly deign to regulate them, they’ll get regulated and they’ll be unpleasantly surprised with how swiftly it may happen,” said Coons, a Delaware Democrat and member Senate Judiciary Committee. “I think they’ve got a lot of explaining to do.”
(Read more at Bloomberg)
— The Hill (@thehill) November 15, 2018
When Democrats like Cicilline and liberal globalists like Soros support regulating social media giants, conservatives have to look out for censorship to increase to Big Brother levels. Instead of pushing regulation, maybe conservatives should look toward to a guarantee of the Bill of Rights. Further, we should look toward breaking up the monopolies of social media.
I wish the senators would focus less on the spread of misinformation. Rather, I would have them focus on the full acceptance of free speech (for all parties — not just the liberals).
Since I can judge which news pieces seem viable, maybe they should focus on ensuring all get heard. That is, since I have a habit of verifying news through good sources (e.g., the Wall Street Journal, National Review, or Breitbart), they can make certain that even the gossip publishers can publish. Therefore, in a pinch, we might even accept a story from the New York Times (if corroborating sources exist).
“The same big tech companies that are wary of being regulated by the U.S. government in order to protect free speech, will gladly volunteer to be regulated by foreign governments so that they can restrict free speech.” https://t.co/ElxDJrDt6g
— Paul Joseph Watson (@PrisonPlanet) November 13, 2018
.@DavidCicilline: “Facebook cannot be trusted to regulate itself.”
One reason Cicilline’s statement carries extra weight: he is the top Democrat on House Judiciary’s Antitrust Subcommittee – and could be its chair in January pic.twitter.com/kcs4jtOqGz
— Ted Nesi (@TedNesi) November 14, 2018
Some Facebook users are dialing back use over latest scandal
Yahoo Finance suggests in a 16 November 2018 article that people have reached their limit with Facebook.
Expect some Facebook (FB) users to dial back their use of the popular social network and even delete their accounts following the publication of a damning exposé this week.
On Wednesday, The New York Times published an extensive feature that revealed how Facebook management was reluctant to tackle Russia-linked activity on the social network following the 2016 U.S. presidential election, how unprepared Facebook was for the ensuing public fallout, as well the social network’s efforts to wield influence on Capitol Hill. Chief among Facebook’s alleged infractions: employing Definers Public Affairs, a Republican opposition research firm, to accuse left-wing financier George Soros of quietly backing anti-Facebook groups.
“It’s too early to tell the full impact The New York Times story is having — we would have to see in a month — but it will impact [Facebook’s] Daily Active Users and even just the people who are concerned about occasionally logging on and giving clicks and views to a company they might disagree with,” says Altimeter Group analyst Omar Akhtar, who adds the report severely tarnished Facebook COO Sheryl Sandberg’s once-sterling reputation.
(Read more at Yahoo Finance)
As for myself, I have had it with Facebook and don’t use it as a primary means of sharing news. However, I can understand their anger and would suggest use of another platform (such as gab.ai (twitter alternative), vidme (youtube alternative), WordPress (blogger alternative), or Digg (Facebook alternative)).
If users want to leave Facebook where do they go?
If advertisers want to leave Facebook where do they go?https://t.co/hUmVhz6R8U
— David Carroll 🦅 (@profcarroll) November 16, 2018