By Bill Blain
“There is something rotten in the state of Denmark…”
This Morning: The market has apparently shrugged off the platform outages and whistleblower testimony on Facebook’s prioritization of profits over people. Or is Facebook mortally wounded and a regulatory quietus inevitable? Can the social media genie be put back in the bottle?
The big story this week should be Facebook. Whistleblower Frances Haugen was in the papers earlier this week saying she didn’t want to kill Facebook, but make it safer… Then she did a pretty brutal hatchet job on the firm in her US Senate testimony – describing a corporate culture that won’t change unless it is forced to. She blamed founder (and Global Business Personality most likely to be an actual Bond Villain), Mark Zuckerberg by name, accusing him of “profits over people”.
