Facebook has just experienced one of the most worrying weeks in the past 3 years, since the data leak scandal related to the Cambridge Analytica company was revealed in 2018. Kicking off the bad week is the global disconnection for up to 6 hours straight, causing the company’s stock to plunge billions of dollars; while concluding with journalist Maria Ressa being awarded the Christmas Peace Prize. Ms. Ressa is a fierce critic of Facebook.
Facebook’s strength after many years began to have cracks
But the culmination of a turbulent week was when former Facebook Integrity and Equity manager Frances Haugen denounced hidden wrongdoings at the company she used to work for.
Haugen is considered a calm, voice and authority person within the working unit. She presented compelling evidence of Facebook’s lies and deceit, the harm it has done to teenagers, and pointed out its devastating effects on democracy.
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All allegations have clear and strong evidence, specified in 8 complaints filed with the US Securities and Exchange Commission (SEC), along with documents delivered to judicial authorities. . Later this month, Haugen will testify before the British Parliament.
According to journalist Carole Cadwalladr. “That’s what we’re starting to see, happening slowly: collapse. The past week has been a time when the crack in Facebook’s foundation deepened.” Carole was the one who exposed the Cambridge Analytica data scandal in 2018 in the press.
Frances Haugen in the recent hearing
In 2018, the testimony of Chris Wylie – Cambridge Analytica’s former director of election content became the first blow to Facebook’s power. Chris stood up to denounce the data leak scandal related to the world’s largest social network. Despite the big wave, CEO Mark Zuckerberg and the entire leadership team still handled it smoothly without any of the top personnel losing their seats. Facebook after Cambridge Analytica only lost $ 5 billion in fines but still grew, increased users, even increased the stock price.
At that time, Chris’ testimony kicked off a series of investigations into Facebook, but yielded no concrete results. Facebook’s leadership “team” should have been forced to resign from this point, but failed. Then three years later, another wave came from the testimony of the former leader of the company. Haugen testified to issues that are seen as direct consequences of a corrupt, corrosive corporate culture.
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Facebook at this time is facing real difficulties, facing legal and regulatory challenges in the context of internal weakening, personnel disturbance and wobble. The biggest difference of the event with Haugen compared to the Cambridge Analytica scandal is that she came out with organized, organized, and closely supported actions. And by questioning Ms. Haugen, US senators also showed how they have changed their perception of technology compared to 3 years ago.
This social network also has existential threats. The company is being sued by the US Trade Commission (FTC) for monopolistic behavior, the intention to split it into separate subsidiaries; while COO Sheryl Sandberg was accused of market fraud and was sued by the state of Texas (USA). And yet, a group of shareholders filed a lawsuit in Delaware with new documents alleging that many senior Facebook executives and the board of directors deceived investors.
Most seriously, the United Nations sees signs that Facebook abets a genocide in Myanmar, according to the page Guardian. In addition, many people also know that the riot on US Capitol Hill in January 2021 is related to this social network.