Facebook papers, for Zuckerberg the worst crisis. But in the third quarter profit up by 17%, users also increased
Ignored alarms, spread of fake news and hatred on the net: the tech giant led by Mark Zuckerberg risks being overwhelmed by the worst crisis ever. It was not enough revelation of Frances Haugen, former Facebook data engineer, who denounced Zuckerberg’s company for loosening censorship algorithms, now i Facebook Papers open the way to a harsh and uncertain future for the high-tech giant, aiming for its safety and reputation.
The ten thousand pages of internal documents of the company, sifted through by seventeen media, offer a real insight into the management of the colossus, where profits and growth are favored over everything else, also on safety. Just so as not to weigh on the accounts Zuckerberg, champion of freedom of expression in the United States, he bowed to the Vietnamese Communist Party’s request to censor anti-government posts. Not doing so would have exposed Facebook to the risk of going offline in the country where, according to some estimates, it makes a billion in revenues a year. AND Zuckerberg would also be responsible for various decisions on posts about politicians and celebrities. The documents reveal interference from managers to allow VIPs to post anything regardless of any violations of the rules.
“In many cases the decision on non-compliance with the rules“from high profile people”it was taken by manager and in some cases by Zuckerberg“, an employee denounced. Heavy accusations for the 37-year-old CEO and founder of Facebook, a giant controlled by Zuckerberg who is also chairman of the board of directors as well as holding 58% of the voting shares, with which his power is practically limitless in society but also in front of the board. A position therefore of extreme strength that now exposes him to harsh controversy. “Instead of changing its name, Facebook would have to change CEO“, say some critics referring to the expected change of the name and logo of the social network to better reflect the metaverse.
But in addition to casting a shadow on Zuckerberg directly, the documents lift doubts about Facebook’s role in disinformation and the problems related to hate speech and disinformation, to which, the files reveal, the products created by Facebook and its policies contribute. The fight against bad or false information, the employees denounced again, is undermined by political considerations.
Despite this, the quarterly report of the tech giant closes the accounts positively: net profit grew 17% to $ 9.194 billion. The daily number of active users was 1.93 billion, equal to expectations, the monthly amount was 2.91 billion, up by 6% compared to a year earlier, against expectations of 2.93 billion. THE average revenues per user were $ 10, compared to $ 10.15 expected by experts. In the fourth quarter, revenues are expected to grow by 37%.
After closing up 1.26% yesterday, the title of Facebook he earned about 0.6% in afterhours, immediately after the accounts. While on Friday the stock had lost 5%, interrupting a series of four consecutive positive sessions. The start of the week was marked by the new allegations of aiding and abetting the spread of hate and fake news. “The good faith criticism helps us improve but I think we are seeing a coordinated effort to selectively use leaked documents to paint a false image of our company,” the Facebook boss said in response to the release of the latest internal documents. “The reality is that we have an open culture that encourages discussion and research about our work, so that we can make progress on many complex issues that are not specific only to us “, concluded the number one of Facebook.
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