Facebook’s Mark Zuckerberg said that he wouldn’t step down as chairman and that his No. 2, Sheryl Sandberg, was “doing great work” despite questions about their management.
Several top marketers were critical of the tech giant after The New York Times reported how it ignored and hid warning signs that it was being exploited to disrupt elections and spread toxic content.
Facebook has gone on the attack as one scandal after another — Russian meddling, data sharing, hate speech — has led to a congressional and consumer backlash.
Public databases that shine a light on online political ads — launched by Facebook and Google before Tuesday’s U.S. elections — offer the public the first broad view of how quickly the companies yank advertisements that break their rules.
The Trump administration has been considering antitrust proceedings against Amazon, Facebook, and Google’s parent Alphabet.
A recent Facebook initiative aimed at combating foreign interference in elections involves requiring political-ad purchasers to identify themselves in “paid for by” disclaimers. But Facebook’s system suffers from some “significant apparent loopholes,” including one that allows ad purchasers to lie about their identities, Senate Democrats Amy Klobuchar (Minnesota) and Mark Warner (Virginia) say in a new letter to CEO Mark Zuckerberg.
The social network, which reported slowing growth on Tuesday, has plans to reduce its dependence on News Feed.
But shares inched a bit higher after-hours, suggesting, at least, that the social media giant didn’t further spook investors. With the myriad problems Facebook has been grappling with lately, this is likely good news for the company.