The Horrible, No Good, Very Bad Day for Facebook

General General Discussion
1

There are a gazillion articles on this. I picked this one because it itemizes the “bullet points” of Facebook woes after the data mining scandal:

https://www.zerohedge.com/news/2018-03-28/fakebook-its-way-zero

ummary
Facebook’s dirty tricks have been exposed, they will never completely regain the trust of users.
Alternatives are set to cannibalize the social media model, pioneered by Facebook.
Costs of security features, auditing information, and loss of ad revenue will make Facebook less profitable.
Finally, Facebook (FB) has been exposed for the fraud that it is. There has never been such an inflated market cap based on nothingness, just hype. Steve Jobs successfully hyped up Apple (AAPL) but unlike Fakebook, Apple actually makes products, and they have a huge following. Here we will elaborate on several key points that we’ve been saying for years, but now maybe the market is listening:

Facebook (FB) has a weak underlying business model. Users do not like to see advertisements therefore management will be driven to measures such as grey hat (or even black hat) methods to obtain data and use data in ways in conflict with users.
Facebook (FB) is ultimately and primarily a tool of the intelligence agencies (primarily but not exclusively the CIA) and furthers a larger agenda as part of the DOD’s “Information Awareness” program, more than it is a hot business model.
There are thousands of social media networks, in fact Ning offers users a platform to create their own social network. The only thing unique about Facebook (FB) is that it is the most used and trusted network, but that all is hanging on the thin thread of users trust, which has now completely evaporated.
Mark Zuckerberg is an unethical tricky leader that cannot change, he is detached from reality, has no vision, no understanding of what his customers want, and perhaps most importantly; stole Facebook (FB) from Winkelvoss.
Facebook became spammy in 2010, the amount of bot manipulation is highly under-reported. Fake accounts are bought and sold in a black market, software is sold that can create fake accounts by the hundreds, thousands.
Based on the above, we believe the real value of Facebook (FB) is about $10 - $20 per share. Let’s use the ‘toplist’ format as promoted by Facebook (FB) itself:

“Top Reasons Facebook (FB) is going down fast”

Users are abandoning their accounts, deleting them, and it has become ‘cool’ to delete your Fakebook account. #DeleteFacebook
Mark Zuckerberg originally referred to his users as “Dumb ****s” this meme is now being circulated.
Cambridge Analytica is not unique. This is the underlying model of Facebook’s business model (if you can call it a ‘model’).
Facebook’s IPO disaster was a sign of things to come.
Lawsuits are just the beginning. People are angry.
Cook County is suing for ‘fraud’ - this is a public government suing Facebook for SERIOUS violations. Fraud isn’t something you can just get over. It takes years to make a reputation and minutes to lose it.
According to Edward Snowden, Facebook is a surveillance company.
Once the genie is out of the bottle, hard to put back. Perhaps some users didn’t think this was going on and others didn’t care. But now there’s a movement to control how Facebook spies on you.

…this is the beginning of a crap storm that has been brewing for years but it didn’t metastasize until now.

Facebook is going to zero. If you’re long get out now before it drops further. There’s nothing supporting the stock except hopers and hot air.

One last thing, Fake News started on Facebook (FB) see articles here, here, and here. Since the Trump election there has been a backlash on ‘Fake News’ sites, which Facebook is #1. It’s a platform for Fake News!

News existed before Fakebook and will continue to exist. Facebook is to the internet was the Laser Disc was to the home movie industry. It’s outdated, it’s bloated, it’s hype - there’s nothing there. Move on, drones. Nothing to see here.

My take: I don’t think Facebook will ever go away completely. There will always be a need for people to post their ego-driven narcissistic garbage. But I do see it nearly burning to the ground. Pass the marshmallows.

2

I think people that care are a minority in the overall Facebook community. People at my work are kinda meh about it. Typical response is “I have nothing to hide”. They don’t seem to understand the difference between “nothing to hide” and having privacy.

I never had it because I never got the point of it.

Honestly I think Google is worse

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3

I hope so. I am not in it but most family members are and it is constantly tricking them by changing how it works and obliquely, if at all, notifying users. At worst it spies on you, at best it is designed to create conflict and nearly impossible to truly delete info.

4

I actually maintain False Flag accounts just to screw with Suckerberg’s analytics… snickering evilly Guess I better go start a few more… hmmm, what do I feel like being for maximum skivvie-rippage today?

5

Non issue for most.

I don’t put my life in FB. I have one account dedicated to martial arts history and things of that sort, a page dedicated to firearm safety and a personal stealth page that gets maybe 6 views a year.

I don’t put what I ate for lunch, what movie I’m seeing tonight and the latest pictures of my family on facebook. I knew from day one all that stuff is vulnerable. It’s not your secret treehouse no matter what you do or what security features they offer.

6

At this point, I just use it for shit posting on leftist pages. A totally childish activity, but it’s fun/funny for/to me.

7

Ignore the moralizing in this next article (if you go to the actual link) and take it for the argument they make. I have edited out the moralizing for my quotes.

http://shoebat.com/2018/03/29/facebook-is-completely-dead-the-adult-and-now-tech-industry-has-declared-it-so/

Playboy Enterprises says it’s pulling its Facebook presence as the privacy scandal enveloping the social media service continues to grow.

Playboy says it’s been difficult anyway to “express our values” because of Facebook’s strict content and policy guidelines, which include restrictions on nudity. Playboy says the alleged data mismanagement is the last straw.

About 25 million people interacted with Playboy’s Facebook pages. Playboy Enterprises Inc. says it will deactivate the accounts that it manages directly.

A smattering of other companies have made similar moves, including nonprofit Mozilla, which created the Firefox browser, Elon Musk’s companies SpaceX and Tesla and German bank Commerzbank. (source)

the pornography industry is (snip) important to watch because it is large, powerful, and is consumed by many people as it represents the commoditization of one of the bases human impulses- sex. Since the urge to survive and the urge to reproduce are two matters that are common to all men- perhaps phrased as “Can I have sex with it” and “Can I use it to destroy my enemies” when inquiring about the usefulness of an object- then once must conclude that many trends which become widely popular somehow involve exploiting either or both of these desires.

Sex sells. Big time. It is why it is the world’s oldest profession and why no matter where it goes it draws large amounts of money and can influence social shifts.

Playboy magazine and its sister companies are not the largest pornography manufacturer or distributor anymore, but Playboy itself represents a brand with a reputation to maintain. While there is a lot of pornography on Facebook that is shared privately, there are few major porn companies which operate Facebook pages, and have comparatively small followings- BangBros has just over 9,000 “likes,” AVN has no more than 20,000 “likes”, and Hustler has 15,000 “likes”. The adult clip website XHamster has the most at 23,000 “likes.” The world’s largest webcam website, Chaturbate, along with the top two pornography distributors in the world, XVideos and PornHub, do not have an official presence on Facebook.

The issue here is NOT about pornography, but about the fact that since the “adult” industry is so deeply ingrained into human society and is tied to many industries that one may not expect, when those who are major decision makers choose a path, it means something. It is similar to the technology industry, for since “big data” is a part of life today, what it chooses to use or not use likewise have a major impact on future trends.

Playboy’s data is no longer available, but it was likely the largest, and now they have pulled out of Facebook. If that was not enough, Elon Musk has already deleted the Facebook pages for Tesla and SpaceX from Facebook.

Two of the largest players in pornography and data have pulled from Facebook over this scandal. That means something.

Now Facebook has over 2 billion subscribers. It is still the largest social media company in the world and will remain as such for some time.

Will Facebook disappear completely? It is possible, but owing to the size and influence it will likely continue to exist but as the former MySpace CEO Tom Anderson recently joked, Facebook will go the way of Myspace, that it will still exist but will no longer have the social presence or respect it once commanded, and will be a monument to the past instead of an influence on future trends. Given the large presence of Baby Boomers on it who share photos and constitute a great percentage of the commenters now, it will likely become an online equivalent of a senior center rather than the “community” it once said it would be.

Stick a fork in it, because its goose is cooked.

My take: this is just the beginning of problems for Facebook. It’s headed for “The Tree of Woe”.

8

Yeah, this. Facebook will be fine. The bulk of their users don’t give two shits about privacy.

Google is Literally HitlerTM

9

Pretty much. I use FB extensively to communicate with my group of friends and it is an effective communication tool for my business. I don’t spend a dime with FB for my business and it is by far my most effective advertising. I don’t trust anyone on the internet, even this forum. I pretty much figure that my browsing data is known to the world.

10

Yup…Pretty much!

11

Facebook is a joke. Go live your life. No one cares about your kids, your exercise, your political views, or what you ate.

12

FB will survive, but may end up having to make major changes.
Anonymous Jihadi Censors amy have to go away forcing FB to explain why some videos are deleted, and other violent videos survive.
Censoring pundits they disagree with, and promoting those they agree with may also have to go away if they are to survive.
The same goes for YouTube.

13

I use it for business
the other side personal is a small side benefit to keep in touch with a couple folks but really could care less one way or the other about that

I use it to try to get more clients and make money

maybe I need to make a few troll accounts :slight_smile:

14

I’ll just leave this here…

https://takeout.google.com/settings/takeout

15

Since I don’t feel like signing in not knowing what’s after can you just say it?!

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16

It’s everything google has on you.

The location data alone should scare the **** out of you…

17

Alrighty! Thank you… Just did mine. Waiting for the archive

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18

Okay…can we globally delete all of this?

19

I seriously doubt it and even if you could I can guess it’s not “really” deleted.

20

Where are all the internet commandos who should be busy attacking Google and Facebook and Amazon every minute of every day? Did the Big Three pay all of them off?