Facebook Needs To Do Some Serious Convincing
Facebook had a tough 2018. There was the Cambridge Analytica scandal where Facebook exposed data on up to 87 million Facebook users to a researcher who worked at Cambridge Analytica, which worked for the Trump campaign. Then monthly active users in the U.S., Canada and Europe declined. The most recent public relationship nightmare was news that Facebook shared more user data with third-party companies, like Microsoft, Netflix, Spotify and Amazon.
However, a picture is worth a thousand words, Facebook’s share price fell nearly 30% in 2018.
An article released by CNBC reported that things aren’t peaches and cream inside Facebook either.
More than a dozen former Facebook employees detailed how the company’s leadership and its performance review system has created a culture where any dissent is discouraged.
Employees say Facebook’s stack ranking performance review system drives employees to push out products and features that drive user engagement without fully considering potential long-term negative impacts on user experience or privacy.
This culture has contributed to the company’s well-publicized wave of scandals over the last two years, such as governments spreading misinformation to try to influence elections and the misuse of private user data, according to many people who worked there during this period. They say Facebook might have have caught some of these problems sooner if employees were encouraged to deliver honest feedback.
Meanwhile, Facebook’s reputation as being one of the best places in Silicon Valley to work is starting to show some cracks. According to Glassdoor, which lets employees anonymously review their workplaces, Facebook fell from being the best place to work in the U.S. to No. 7 in the last year.
Although prices have rallied in 2019 from the lows, I’m not convinced that was the bottom. First of all, price hasn’t broken out of the down channel.
Price is also retesting the daily supply at $146.
Facebook needs to do some serious convincing before pricing definitively move to the upside. Thus, the chart suggest, there is further downside.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
Facebook is doomed....
I hope so. The damage done to society I'm afraid can't be undone. It like compound interest. The effects will be passed onto the worlds children.
The cracks of centralized organizations trying to control everything within an ecosystem. Considering Mark is a control freak, I am not surprised; he is probably micromanaging it into the ground!
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An example of money or power being the root of all evil.