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Facebook Businesses

Zuckerberg Grilled At Angry Facebook Shareholder's Meeting (mercurynews.com) 165

An anonymous reader quotes the Mercury News' report on Facebook's annual shareholder's meeting: On Thursday in Menlo Park, one investor compared the social network's poor stewardship of user data to a human rights violation. Another warned that scandal is not good for Facebook's bottom line. And one advised Chief Executive Officer Mark Zuckerberg to emulate George Washington, not Vladimir Putin, and avoid turning Facebook into a "corporate dictatorship." Facebook struggled to keep order, kicking one woman out of the meeting within the first few minutes for repeated interruptions. A plane zipped overhead pulling a banner that read "YOU BROKE DEMOCRACY" and advertising Freedom From Facebook, a group of privacy and anti-monopoly activists that are pressing the U.S. Federal Trade Commission to break up the company...

Zuckerberg repeated the same reassurances he used in front of U.S. and European lawmakers earlier this year: The company hasn't taken a broad enough view of its responsibility... "We're also very focused on being more transparent," Zuckerberg said, touting the fact that the company had just posted its policies on content moderation for the first time. Minutes earlier, the company announced that shareholder proposals for more transparency and oversight had failed, surprising no one. Zuckerberg controls the company through special stock that gives him more votes than other shareholders.

"Facebook said that just because the proposals were blocked, that didn't mean the company doesn't care about these issues."
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Zuckerberg Grilled At Angry Facebook Shareholder's Meeting

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  • Delete Facebook (Score:5, Insightful)

    by DaMattster ( 977781 ) on Sunday June 03, 2018 @06:45AM (#56719460)
    Stop waiting for the government to take action. If everyone wants to teach Facebook and the Zuck a lesson, all you have to do is to close your account. If millions of people left Facebook for good, it would implode under its own weight. But alas, too many people are addicted to it. Sometimes it's the people who scream the loudest that are the most addicted to it.
  • By now, Cambridge Analytica must have had ten times the news coverage that PRISM did. It's amazing how much the MSM suddenly pretended to care about user privacy once they could loosely tie it to Trump and push a partisan political agenda, and make ever more excuses for their loser candidate.
    • What's so amazing about it? PRISM didn't feel like a personal violation, just an overreach of authority. Cambridge felt like a violation of personal space.

      Also PRISM didn't have wide spread abuse of said data. All the targets were considered "bad". But with Cambridge, it gave a stark example that people could relate to directly.

      Finally PRISM was written off as benign "metadata". That didn't scare people. But with Cambridge+Facebook+Personal Data in one sentence, people got a concrete idea just what was us

  • FB has broken and tried to influence elections years ago in favor of Obama and tried to help in Clinton's favor. Sad they haven't been charged with letting Obama camp keep all that info they took in 2012.
  • by lgw ( 121541 ) on Sunday June 03, 2018 @07:06AM (#56719504) Journal

    Zuckerberg Grilled At Angry Facebook Shareholder's Meeting

    Oh, metaphorically grilled. Had my hopes up there for a minute. How disappointing.

    • by Anonymous Coward

      Maybe Elon could have provided flame throwers for the occasion?

    • by SeaFox ( 739806 )

      Shit, I came here to say the same thing.

  • Wut? (Score:5, Insightful)

    by 101percent ( 589072 ) on Sunday June 03, 2018 @07:09AM (#56719508)
    Should have listened to Stallman. I mean seriously it's a sad reflection on society when 100 millions of people just give everything to an unaccountable company and then cry about it later. It's really hard to have sympathy but honestly what where these people thinking? IN 2018 gullibility, peer pressure, and naivety still rule human behavior.
    • by Megol ( 3135005 )

      That's not a factual description of the situation.

    • Yeah, Stallman was right - always has been. But most people have a hard time taking people who eat their own toejam in public [youtube.com] seriously.

    • The problem is that the vast majority of those millions aren't crying about it later. They are happy with the situation and "have nothing to hide". Until of course this sharing of personal data with abandon comes and bites them personally.
    • by XXeR ( 447912 )

      I mean seriously it's a sad reflection on society when 100 millions of people just give everything to an unaccountable company and then cry about it later.

      Many of those "crying about it" never signed up for Facebook in the first place...yet Facebook keeps data on them anyway.

  • "Facebook said that just because the proposals were blocked, that didn't mean the company doesn't care about these issues."

    They care very deeply, because of the potential loss of revenue if they can't continue to harvest their "customers" data like the Japanese harvest whales.

  • Facebook has posted guidelines on content moderation, now, for the first time? That kind of incompetence borders on being liable. Why have there not ALWAYS been formal guidelines?

  • by thegarbz ( 1787294 ) on Sunday June 03, 2018 @07:59AM (#56719662)

    Investors in a datamining company complaining about datamining. Sounds like those shareholders of Shell who were complaining about climate change.

    I can't wait for the logical extension:
    Shareholders of Smith and Weston complaining that people die due to bullets.
    Shareholders of Ratheyon complaining that their products explode.
    Shareholders of VW complaining that customers are able drive somewhere.

    • by novakyu ( 636495 )

      Eh. I'll bet better than even odds that a significant number of these "shareholders" specifically bought Facebook shares in order to make these complaints. This is not all that new in political activism, pretending to be an actual investor in a publicly traded company, when these people couldn't care less about how well their "investment" does financially.

  • I know, I got excited, too.
  • A plane zipped overhead pulling a banner that read "YOU BROKE DEMOCRACY" and advertising Freedom From Facebook, ...

    They don't understand how a corporation works or voluntary use of its free services work.

    Pro Tip: You don't have to have a Facebook account and/or use their free services -- or, I'll add, own their stock..

  • They invested in Facebook without knowing where the money was going, or what it was doing. Some of them knew precisely what he was spending the money on (spying on people) and invested anyway. Now they want to cry about how they've been used, and blame it all on Zuckerfuck. But that's not how it works. They willfully contributed to evil, and now they're angry at Facebook for their being evil? Waaaaaaaaaa

  • Zuckerberg Grilled At Angry Facebook Shareholder's Meeting

    He should have held a Happy Facebook Shareholder's Meeting. That would have been so much better.

    • by SeaFox ( 739806 )

      He should have held a Happy Facebook Shareholder's Meeting. That would have been so much better.

      Does Facebook have shareholders that are happy right now?

  • What I find most interesting are the attitudes being displayed. Take the "You broke democracy" person(s?), for instance. We can assume that this goes back to the alleged election tampering ... so my question is simply, had their candidate won, would they be screaming as loudly? Or are they merely upset at the outcome? Its all in the interest of swaying public opinion. Even the display of anger at facebook.

    Personally I would have enjoyed Clinton in the White House again. Not that Clinton, the other
  • Take your company "public" and then you are at the mercy of the stockholders. As long as you are making them gobbs of money, they love you. Once they stock swings downward, they want you tossed out.
  • ... because it puts the target squarely on Zucky's back.

    The shareholders are trying to do the right thing (for themselves).

    Outside agitators are working it.

    Internal staff and employees are making statements and taking action.

    Zuckerberg controls the company through special stock that gives him more votes than other shareholders.

    "Facebook said that just because the proposals were blocked, that didn't mean the company doesn't care about these issues."

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