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Home / Science / Facebook Down $ 80 billion in market value; Playboy, SpaceX, Tesla hit Delete

Facebook Down $ 80 billion in market value; Playboy, SpaceX, Tesla hit Delete



The # DeleteFacebook movement puts its money where it is. Since the company's recent Cambridge Analytica scandal, Facebook's stock has fallen 18 percent and, according to a series of analyzes, has decimated some $ 80 billion of the company's overall market value.

The crash comes after Facebook has admitted that Cambridge Analytica, a company working for Trump's 2016 presidential campaign, abused the personal information collected on the social network to target voters in the United States. Since then, the company has seen a flood of criticism for its mistake in protecting user data.

Meanwhile, Elon Musk's Tesla and SpaceX companies have deleted Facebook pages, as well as Playboy privacy concerns.

Even before the Cambridge Analytica revelations, Facebook was in hot water to use its network of Russian agencies during the 201

6 presidential election.

Facebook boss Mark Zuckerberg vowed that his company "would learn from this experience to further secure our platform and make our community safer for those who move forward," days after the scandal. CNN Money estimates Zuckerberg's net assets have fallen by about $ 14 billion. The 33-year-old is still worth well over 60 billion dollars.

But some big companies do not buy Zuckerberg's insurance. And the more these delete their pages and disassemble themselves with the platform, the lower the interaction rates. In this case, the total revenue of the ads also decreases.

"Recent news about Facebook's alleged disregard of user data has solidified our decision to terminate our activities on the platform at one point in time," said a statement from Playboy, which cleared its page on Wednesday. "There are more than 25 million fans interacting with Playboy through our various Facebook pages, and we do not want to be complicit in exposing them to reported practices."

The social media platform is concerned with more than just user interest and inventory losses – it also faces a number of legal and regulatory issues. The Federal Trade Commission confirmed earlier this week that Facebook is being investigated for potential misuse of personal information by as many as 50 million of its users.

Zuckerberg told CNN last week that he was "not sure" whether Facebook should be regulated. "I actually think the question is more, what is the right scheme and not?" Yes or no, should it be regulated? "He said.

The CEO also said that he is "sure someone is trying" to use the platform to deal with the midterm elections in the US, and that the company is trying to prevent this with new transparency measures.

"Last week has shown how much more work we need to enforce our policies and help people understand how Facebook works and what decisions they make about their data," said Chief Information Privacy Officer Erin Egan and Deputy General Counsel Ashlie Beringer made a statement. "We will take additional steps in the coming weeks to give people more control over their privacy."

These changes have made it easier for Facebook users to see what information they've shared with the platform, but it's clear that the company has not satisfied its creators or investors.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.


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