Facebook shares slide after reports of data misuse (Remember when George Soros said the social media company’s “days were numbered” 2 months ago?)

 

So the powers that be are putting the crush on Facebook now? What a surprise.

We’ve seen this storm develop over the last few months (and years) and it is clear, as we’ve said, that certain people would like very much to cram the information genie back into the bottle. The peasants have become too powerful and too informed.

Of course the beef is with “fake news” etc. etc. That’s the official line.  But what was the unipolar news world prior to the social media revolution? Fair? Ha! Not even close. It presented only a northeastern US worldview and pretty much nothing else. And that is what the companies, still based in the Northeast would like to have again. They want control over the information.

You? You are too dumb to realize you’re being manipulated. At least that’s what the #oldmedia companies and their partners in government hope.

The central planners have systematically attacked crypto currencies. Many would love to take down social media too if they can. Free people are hard to rule.

(From Yahoo)

“It’s clear with more ‘heat in the kitchen from the Beltway’ that further modest changes to their business model around advertising and news feeds/content could be in store over the next 12 to 18 months,” said Daniel Ives, research analyst at GBH Insights.

He also argued that the issue was “background noise” on which Facebook could calm any regulatory nerves through further investments in security, ad content AI, improved content algorithms and screening mechanisms.

No analysts had so far changed their price targets or recommendations on Facebook in response to the reports. Wall Street is largely bullish on the stock with 40 of 44 analysts recommending the stock “buy” or higher.

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