Is Facebook trustworthy?

It has shown on several occasions that Facebook has let publish fraudulent adverts. It looks like Facebook at the same time have developed an algorithm to "filter" opinions. This make one wounder if Facebook is trustworthy.

A whistle-blower has said that Facebook prioritize their own interest of making money on behalf of safety.

Frances Haugen, 37, who worked as a product manager on the civic integrity team at Facebook, was interviewed on Sunday by CBS.

She said the documents she leaked proved that Facebook repeatedly prioritised "growth over safety".

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"There were conflicts of interest between what was good for the public and what was good for Facebook," she said.

"Facebook over and over again chose to optimise for its own interests, like making more money."

www.bbc.com/news/technology-58784615

Facebook parent firm's profits crash

Facebook’s parent company Meta Platforms has reported a 21% drop in profits for the first quarter of this year, the company’s slowest revenue growth since going public a decade ago.

According to the First Quarter 2022 Results released on Wednesday, the company’s profit was $7.5 billion as opposed to $9.5 billion during the same period last year. Income from operations plummeted by 28%. Total revenue however rose 7% to $27.9 billion.

The results follow Meta’s bleak financial report for the Fourth Quarter and Full Year 2021 released in February, when the company also posted an 8% drop in profits and slowing user growth. The figures led to Meta’s stock plummeting more than 20% and its market value plunging more than $230 billion in the company’s biggest-ever one-day crash.

The losses in the two quarters are the company’s first back-to-back profit declines in over a decade, with a growth rate now below levels seen since it went public in 2012.

www.rt.com/business/554663-meta-profits-crash-facebook

How Mark Zuckerberg lost his fortune

Facebook CEO Mark Zuckerberg was once touted to become the world's richest man, he has now slipped to the 12th spot. Zuckerberg was the face of the social media revolution, he has now become the face of big tech's tyranny. Palki Sharma brings you the story of Zuckerberg's fall.