No crisis here! Facebook staff are all smiles at Allen & Co despite a horror year

Mail Online | 7/13/2018 | Hannah Parry;Rory Tingle For
jenn1020 (Posted by) Level 3
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It's been a tough year for Facebook, but you'd never know from the beaming smiles of Mark Zuckerberg and fellow executives at Sun Valley this week.

Zuckerberg, Facebook VP Dan Rose and COO Sheryl Sandberg joined some of the world's most powerful and influential people from the media, finance, technology and political spheres for the exclusive Allen & Co conference.

Week - Events - Networking - Idaho - Sunshine

The week of events and networking in the Idaho sunshine may offer the executives a chance to forget about a horror year for the social media giant.

Facebook saw millions wiped from its market value amid a wave of controversies, including privacy violations, fake news and even electoral interference.

Demands - Shareholders - Zuckerberg - Chairman

There have even been demands from shareholders for Zuckerberg to stand down as chairman.

The biggest scandal of the year was the huge privacy breach by communications firm Cambridge Analytica.

Company - Feature - Apps - Permission - Access

The company profited from a feature that meant apps could ask for permission to access your own data as well as the data of all your Facebook friends.

Earlier this year, it was revealed that the firm obtained data about 87 million Facebook users without their knowledge or consent.

Controversy - Zuckerberg - Ads - US - Newspapers

The controversy led to Zuckerberg taking out full-page ads in nine major US and British newspapers to apologize.

The ads, done in simple black text against a plain white background, were headlined: 'We have a responsibility to protect your information. If we can't, we don't deserve it.'

'This - Breach - Trust - Time - Steps

'This was a breach of trust, and I'm sorry we didn't do more at the time. We're now taking steps to make sure this doesn't happen again.'

Zuckerberg's mea culpa came after a terrible week for the social media giant, which saw its shares fall 13 percent to below $160 - the company's worst week in the stock market since July 2012.

Scandal - Zuckerberg - Front - Congress

The scandal also saw Zuckerberg dragged in front of Congress...
(Excerpt) Read more at: Mail Online
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