The CEO of Facebook, Mark Zuckerberg has gone through a very bad week. This is even when we look at it in the content of a very bad year. The week of bad news had got started off on 8th March. It was when a proposal from Elizabeth Warren, the US senator, and Presidential Candidate, aimed at breaking the company apart. Following this, was the longest outrage ever on the social networking platform and services. This had completely overshadowed the news of a criminal investigation into their data agreements along with other companies. The technical problems of Facebook had got resolved in time and hence could put up a post regarding the departure of two important executives.
The major blow came up on Friday through the massacre of 50 people in Christchurch, New Zealand, which was streamed live on Facebook. An analyst from Lynx Equity Strategies, Jahanara Nissar said through a note that all those Hedge Funds, which were previously quite complacent about the negative headlines, which have come up recently, are now expressing concerns on the news that has come through overnight. The plethora of bad news is getting caught up with the company. The shares suffered their worst day ever in a period of more than two months, on Friday, when they suffered a fall of 2.5 percent to close at a price of $165.98.
Mark Zuckerberg has gone on to acknowledge the problem of policing content from the 2.7 billion users, who provide a lot of power to the highly profitable advertising engine of Facebook. The business model of this organization depends on portraying to people, certain posts that are appropriate for having an emotional reaction to and, which very often suffer from the side effect of increasing fake news and extremism.
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