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Troubled Tech stock Heaven : FAANG giants struggling?

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Stocks (even SPX) have come up a long way

/ SOCL : IYW : SPY : SPX : Live-SPX : SPX-10d : 2018-AMZN-etc

/ spy $285call : 6mo : 10d / $285put :

Glenn Neely/ Neowave expects a drop to a Wave 4 Low

(soon? over 2-4 years maybe)

T08XUJ6.png

My own charts -

SPX / S&P500 : all-Data : 10yr : 5yr :

W3wicTn.gif

10-yr

SkQyzcu.gif

NASDAQ : all-Data : 10yr : 5yr :

dXAQJiJ.gif

==

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After yesterday's -4% Crash, NFLX, AMZN & GOOG are still Up for the year; Others are not ... 2018 update  : w/SPY :

irsiCQC.gif
DOW RECOVERS SOME GROUND AFTER HISTORIC 1600-POINT DROP...
Computer-driven selling amplifies rout...
Year's gains wiped out...

FAANG stocks ... update-since YrE-2015 : '16 : '17 : 10d/ FB : AMZN : AAPL : NFLX : GOOG : SPX

Tth46oK.gif

FAANG Stock statistics :
Symbol Company : YrE.' 15 :  YrE. '16 :  +1yr.chg : YrE. '17 : +2yr.chg : $-Last- : +change : P/ER : earn.ps
FB      / Facebook  : $104.66 : $115.05 : +  9.93% : $176.46 : +68.60% : $181.26 : + 2.72% : 35.13 : $5.16 :
AMZN / Amazon  : $675.89 : $749.87 : +10.95% : 1169.47 : +73.03% : 1390.00 : +18.86% : 352.8 : $3.94 :
AAPL / Apple-----  : $105.26 : $115.82 : +10.03% : $169.23 : +60.77% : $156.49 :    - 7.53% : 17.01 : $9.20 :
NFLX / Netflix---   : $114.38 : $123.80 : +   8.24% : $191.96 : +67.83% : $254.26 : +32.45% : 203.4 : $1.25 :
GOOG / Alphabet : $758.88 : $771.82 : +   1.71% : 1046.40 : +37.89% : 1055.80 :  + 0.89% : 35.29 : 29.92 :
=====
SPX- / S&P 500   : 2043.94 : 2238.83 : + 9.54% : 2673.61 : +30.81%: 2648.94 :  - 0.93% : 21.54 : $123.F*
IWM- / Rus'l2000 : $112.62 : $134.85 : +19.74% : $152.46 : +35.38% : $147.92 :  - 2.98% : 132.1 : $1.12 F*
DJIA/ DowJones : 17,425.  : 19,763.  : +13.42% : 24,719. : +41.86%: 24,346. :  - 1.51% : 24.32 : 1001.F*
VIX-- / Volatility--  :  18.21%  : 14.04%  : - 22.90% :  11.04% : - 39.38% :  37.32% :
TLT-- / T-Bonds--- : $120.58 : $119.13 :  -  1.20% : $126.86 :  + 5.21% : $120.71 :  -  4.85% :
GLD-- / Gold etf-- : $101.46 : $109.61 : +  8.03% : $123.65 : +21.87% : $126.71 :  + 2.47% :
GDX- / GoldStocks: $13.72 : $  20.92 : +52.48% : $  23.24 : +69.39% : $  22.71 :   -  2.29% :
DXY-- / US Dollar : $  98.69 : $102.21 : +  3.57% : $  92.12 :  -  6.66% : $  89.63 :   -  2.70% :
==============

SPY  & Options:
12/31: $266.86 ==== : ======/ VIX : 11.04%/
12pm : $278.31 -3.27:  - 1.17%/ VIX : 15.10%/ Jan2019 $285p : $17.77-18.03: $17.90 ..update +Call: $12.60 = Strad.: $30.50 (11.0%)
02/02: $275.45 -6.13:  - 2.18%/ VIX : 17.31%/ Jan2019 $285p: $19.43-19.85: $19.64 ..update +Call: $11.25 = Strad.: $30.89 (11.2%) Jun 285 280
02/05: $263.93 -11.5:  - 4.18%/ VIX : 37.32%/ Jan2019 $285p : $29.00-34.00: $31.50 ..update +Call: $08.00 = Strad.: $39.50 (15.7%)
02/06: $269.13 +5.20: +0.00%/ VIX : 29.98%/ Jan2019 $285p : $22.79-25.71: $24.25 ..update +Call: $09.90 = Strad.: $34.15 (12.7%)

 

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Lost Face ... Book

DV1dUUCX4AErPE1.jpg

TECH TURNS ON SELF...

Less-cool FACEBOOK losing youth at FAST PACE...

Marketing giant threatens to pull ads over trash content...

The firing of Fearnow and Villarreal set the Trending Topics team on edge—and Nuñez kept digging for dirt. He soon published a story about the internal poll showing Facebookers’ interest in fending off Trump. Then, in early May, he published an article based on conversations with yet a third former Trending Topics employee, under the blaring headline “Former Facebook Workers: We Routinely Suppressed Conservative News.” The piece suggested that Facebook’s Trending team worked like a Fox News fever dream, with a bunch of biased curators “injecting” liberal stories and “blacklisting” conservative ones. Within a few hours the piece popped onto half a dozen highly trafficked tech and politics websites, including Drudge Report and Breitbart News.

. . .

A report by eMarketer said Snapchat is drawing youths away from Facebook at a quicker clip than Facebook-owned Instagram.

Facebook is still growing in the US market, according to research firm, mainly due to increases in usage by older age groups. The report is the latest to highlight Facebook's problem with attracting and keeping young people, who have long been a core user base for the world's biggest social network.

The research firm said it expected the first-ever decline in the 18-24 age group in the US, a drop of 5.8 percent this year. It also said that for the first time since its research began, less than half of the 12-17 age group in the United States would be on Facebook, with a 5.6 percent drop in that segment.

The under-12 age group meanwhile will see a decline of 9.3 percent this year, eMarketer said.

"The question will be whether younger users will still find Snapchat cool if more of their parents and grandparents are on it. That's the predicament Facebook is in."

Facebook remains the most popular social network in the US market with an estimated 169.5 million users this year, according to eMarketer.

But faster-growing Instagram will be used by 104.7 million Americans and Snapchat will reach 86.5 million users, according to the forecast.

 

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Update & Options:
Date : --SPY-- : --SOCL- : / spy / -AMZN- : /spy- : Jul.1450P + Call = Straddle (%amzn)
02/14: $269.59 : $37.18 : 13.79%/ $1,451.: r5.38 : $111.38 + $126.62 = $238.00 (16.4%)

AMZN-etc : update : SOCL : IYW : SPY : SPX : Live-SPX :

2NNP3SW.gif

SPY Calls: Jan$285c ... update : 10d / spy $285call : 6mo : 10d / $285put :

9mjpWB9.gif
======
Date-: --SPY--- : chg. : +-pct./ - VIX - :
12/31: $266.86 ==== : ======/ 11.04%/ Jan2019: b-o : $285P / $285-C: Straddle (%SPY)
12pm : $278.31 -3.27:  - 1.17%/ 15.10%/ $17.77-18.03: $17.90 / $12.60: $30.50 (11.0 %)
02/02: $275.45 - 6.13:  - 2.18%/ 17.31%/ $19.43-19.85: $19.64 / $11.25: $30.89 (11.2 %)
02/05: $263.93 - 11.5:  - 4.18%/ 37.32%/ $29.00-34.00: $31.50 / $08.00: $39.50 (15.7 %)
02/06: $269.13 +5.20: + 0.00%/ 29.98%/ $22.79-25.71: $24.25 / $09.90: $34.15 (12.7 %)
02/14: $269.59 +3.59: + 1.35%/ 19.26%/ $22.89-23.17: $23.03 / $08.96: $31.99 (11.87%)
02/15: $273.03 +3.44: +1.28%/ 19.13%/ $20.77-21.07: $20.92 / $10.53: $31.45 (11.52%)

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Here's the clip of @TedCruz scrutinizing the size of Google and Facebook in the FTC confirmation hearings today, citing @profgalloway's piece in Esquire https://www.esquire.com/news-politics/a15895746/bust-big-tech-silicon-valley/ 

Of the companies cited, Google is the most problematic with the clearest antitrust exposure. pic.twitter.com/DgEqmISuqq

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Rise of Tech Giants Threatens Economy...

The dominance of a few firms risks harming productivity and growth, study finds

Tech giants like Facebook and Amazon are the tip of the iceberg of a trend toward market concentration. That's good for profits, but a new study says it also risks harming productivity and growth potential in the long run.

According to Sophie Guilloux-Nefussi, an economist with France's central bank, the market share of the eight largest companies rose in more than 60 percent of the sectors of U.S. between 2002 and 2012.

Bigger Share

Over 60% of U.S. industries saw their eight biggest firms grow in dominance from 2002-2012

Profits have grown as a consequence, but investment and salaries have failed to keep up. The falling share of companies’ revenue ending up in the pockets of workers may deepen the polarization of society while the lower investments reduce growth potential for the economy in the years ahead.

Lagging Behind

Investment and salaries have failed to keep pace with profits in U.S. companies

Moreover, the barriers to new entrants have become higher, as shown by a sharp decline in the creation of new companies. 

> Link/ charts:

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Tony C : BULLISH on US Stocks

But: " a marginal new high may be all there is for now..."

MEDIUM TERM: uptrend probably underway

After the zigzag low at SPX 2533 the market rallied strongly and hit 2754 just one week later. This week the market consolidated after that gain ending at the high for the week. A positive sign. With a WROC already triggered it looks like the Intermediate v uptrend is underway.

spxdaily3.png?w=640&h=485 spxdaily4.png?w=640&h=485

With an Intermediate wave v uptrend probably underway the Major wave 1 bull market is likely a lot closer to its end than its beginning. Int. wave v could subdivide into five Minor waves, which would have been the preferred scenario if Int. iv would have only dropped about 5%. But with a 12% drop it seems a one trend Int. v is more likely.

If a subdividing Int. v was likely, then a bull market upside target might have been well into the SPX 3000’s. With only one trend, however, the likely high may not be all that impressive. If this uptrend struggles as it rises, a marginal new high may be all there is for now. If the uptrend accelerates to the upside, then SPX 3000 is easily within reach. Medium term support is at the 2731 and 2656 pivots, with resistance at the 2780 and 2798 pivots.

SHORT TERM

The short term count for this potential uptrend has been fairly clear thus far. A Minor wave 1: SPX 2754, a Minor wave 2: 2707-2748-2698, and a Minor wave 3 underway now. Minor wave 1 began with a +div, then topped with a -div. Minor wave 3 recently began with a +div too. Let’s see if this pattern continues.

spxhourly3.png?w=640&h=485

Looking ahead. Once the 2884 pivot is cleared, the next pivot is not until 3020. Short term support is at the 2731 and 2656 pivots, with resistance at the 2780 and 2798 pivots. Short term momentum ended the week overbought. Best to your trading!

> https://caldaro.wordpress.com/2018/02/24/weekend-update-642/

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AMZN etc. are At/near New highs ... update

tQcnUf5.gif

But SPX is at 2,779.60, just 3.25% below the Year's High of 2,872.87

My Jan.2019-$285 Calls are about Double the Low near $6 .... update / Last: $11.45 +1.55 ($11.58-11.72)

42kyQsv.gif

But well off the Year's high of $17.15 ($11.65-mid is 32% lower.) I have already recovered about 90% of the cost

of the SPX straddle I bought early in the year, but selling the Put side, and as the call rises, there is more and

more profit potential from selling off the Call.

Tony Caldaro thinks a New High is possible on SPX, within the first half of March, maybe.

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The Richest American & his company should be paying some tax!

AMAZON Made $5.6 Billion in Profits Last Year, Paid ZERO in Federal Taxes?

Jeff Bezos is the richest person in the world, with a personal net worth of $108 billion. In 2017, Bezos’ company, the internet retail giant Amazon, reportedly took in $5.6 billion in U.S. profits.

So, how much did Amazon pay in income tax on that bounty? Hang on, we’re getting some news...what? What’s this? Amazon effectively paid zero dollars in federal income taxes in 2017? Oh.

Amazon is projecting a $789 million windfall from Republicans’ tax bill, according to the Institute on Taxation and Economic Policy, which may have factored into its reason for witholding taxes this year. Bezos—like many other nominally liberal capitalists—claims to disagree with Donald Trump’s policies, while quietly lapping up the Republicans’ regressive tax breaks.

You may be asking: How is this legal? Isn’t Amazon an American company? Aren’t companies required to pay federal income tax? Hello?

Amazon’s global headquarters is not in Seattle, but in the tiny landlocked nation of Luxembourg (Amazon employs more than 40,000 people in Seattle, compared to 1,500 people in Luxembourg.). The European Union has accused Luxembourg of giving illegal tax breaks to Amazon and has ordered the country to recover $295 million in back taxes from Amazon.

. . . Bezos is looking to do the same thing all over again. Amazon is in the process of choosing another U.S. city for a second headquarters, an offer so lucrative that it’s compelled cities into garishly competing with each other in a tax break pageant.

Personally, Bezos has also lagged behind fellow ultra-rich guys like Bill Gates in establishing a charitable foundation to eventually redistribute his massive fortune. While he has given a relative pittance to charities in the past, there is no structure in place to help distribute his unthinkable wealth to people who badly need help.

The notion of charity has Bezos so stumped that last summer, he took to Twitter to ask his followers how to do philanthropy:

. . . This call out of course goes without mentioning Amazon’s own workplace horror stories. In January, a study found that more than one in 10 Amazon employees in Ohio rely on Supplemental Nutrition Assistance Program (SNAP) to buy groceries. And SNAP is... a government program... funded by... tax revenue.

Hey, Jeff, I have a great charity in mind for you! It’s called the U.S. government! Pay your fuckin’ taxes, my dude!!!

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FAANG stocks vs SPY ... 2018 : w/o-nflx amzn : NFLX : AMZN :

tNYDHb4.gif

AMZN ... 5-yr : 3yr : 2yr-L : 1yr

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NFLX ... 5-yr : 3yr : 2yr-L : 1yr

c7SRI14.gif

======

spy $285call : 6mo : 10d / $285put :

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Date-: --SPY--- : chg. : +-pct./ - VIX - :

12/31: $266.86 ==== : ======/ 11.04%/ Jan2019: b-o : $285P / $285-C: Straddle (%SPY)
02/02: $275.45 - 6.13:  - 2.18%/ 17.31%/ $19.43-19.85: $19.64 / $11.25: $30.89 (11.2 %)
02/05: $263.93 - 11.5:  - 4.18%/ 37.32%/ $29.00-34.00: $31.50 / $08.00: $39.50 (15.7 %)
02/15: $273.03 +3.44: +1.28%/ 19.13%/ $20.77-21.07: $20.92 / $10.53: $31.45 (11.52%)
03/07: $272.78 - 0.10:  - 0.04%/ 17.76%/ $18.50-23.50: $21.00 / $09.42: $30.42 (11.15%)
03/07: $272.78 - 0.10:  - 0.04%/ 17.76%/ $18.50-23.50: $21.00 / $09.42: $30.42 (11.15%)

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Amazon discreetly visits HQ2 cities in Phase 2 of extraordinary second ...

636518809854268464-011818-Amazon-ONLINE.

all cities rated

2 days ago - The Seattle tech titan is visiting the 20 cities competing for its second headquarters, collecting data and touring potential sites for the project to inform the company’s final decision. Reports of visits from Amazon officials are starting to pop up in some of the cities, like ...

The real-estate listing company Zillow surveyed dozens of housing experts and economists on what city they believe could land Amazon HQ2, the company's $5 billion headquarters.
Atlanta, Georgia and Northern Virginia are their top picks.

... believes that Amazon will "be making a decision sometime this summer" on a final site

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Obama Programming - Good sign or Bad for NFLX?

I see the Obamas going very rapidly out of favor, as the Trump Counter-coup grows in strength

th?id=OIP.XxVRBn9xuSPnpSgsV8pdiQHaFZ&w=2
OBAMA GOES HOLLYWOOD; TO PRODUCE NETFLIX SHOWS...
'Global Platform, Unfiltered Communication Method'...

Former President Barack Obama is in advanced negotiations with Netflix to produce a series of high-profile shows that will provide him a global platform after his departure from the White House, according to people familiar with the discussions.

Under terms of a proposed deal, which is not yet final, Netflix would pay Mr. Obama and his wife, Michelle, for exclusive content that would be available only on the streaming service, which has nearly 118 million subscribers around the world. The number of episodes and the formats for the shows have not been decided.

Mr. Obama does not intend to use his Netflix shows to directly respond to President Trump or conservative critics, according to people familiar with discussions about the programming. They said the Obamas had talked about producing shows that highlight inspirational stories.

But the Netflix deal, while not a direct answer to Fox News or Breitbart.com, would give Mr. Obama an unfiltered method of communication with the public similar to the audiences he already reaches through social media, with 101 million Twitter followers and 55 million people who have liked his Facebook page.

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Fakebook in trouble

FACEBOOK CRACKING: 24% Drop In User Time Spent...

Florida senator takes TWITTER to task over hoax...

Even Millennials starting to hate social media...

It was less than a month ago that I wrote about a trend that should be very worrying for Facebook. Namely, that users were spending less time on the platform. According to Nielsen numbers through November of last year, interpreted by Pivotal, the social network lost about 4% in aggregated time spent.

Now new numbers have been released that go through December, and the problem only seems to be getting worse. The updated data shows that Facebook’s core platform lost 18% in time spent, which is a huge change from the month before. This, says Pivotal, reflects a 24% decline in time spent per person.” Instagram, too, saw some poor engagement numbers. Though aggregated consumption went up, the user base went up at a higher clip, meaning that time per person went down 9%.

Overall, this shows a mounting problem for Facebook: People are just engaging less with it. Algorithm changes may have something to do with it, and Zuckerberg even told shareholders to expect such a change. But these numbers could also indicate that people are becoming more fatigued by the platform.

("Fatigued"?  Maybe they just hate it, and think the politics are disgusting.)

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AMAZON attempt to land major Pentagon job stokes antitrust fears...

Antitrust critics fear that a winner-take-all contract for the Defense Department’s cloud computing needs could help tech giant Amazon corner the government contract market even further.

The winner of the contract, which the DOD updated its position on last week, in its current form would give its winner control over serving the Pentagon’s cloud computing system as it switches over from an older IT system. The agency predicts that the contract will be worth billions.

Amazon competitors like IBM and Microsoft have been pushing for a multi-party contract that would split cloud-computing services between several companies. They argue that leaving the contract in the hands of a single provider unnecessarily increases cybersecurity risks.

“It’s certainly an indication that Amazon has enormous political power,” said Stacy Mitchell of the Institute for Local Self-Reliance, a research group that advocates for local businesses and tracks Amazon’s movements in government. “They have translated their corporate power and wealth into political power.”

“The fact that the process was accelerated and opaque and that other bidders didn’t have the opportunity to get involved and bid on it — it seems to be an indication that Amazon has an inside track to a competitive bidding process,” she argued. 

Matt Stoller, an economist at the Open Markets Institute who has become a vocal critic of Amazon’s market power, said that Amazon landing the sole-source contract could have wide-ranging negative effects.

“This is a monopoly story but this is a really serious national security story,” Stoller said. 

“A single-source provider for Pentagon cloud services is obviously reckless. The Pentagon should clearly have multiple cloud providers so that if something happens to one of them there is resiliency and redundancy.” 

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BERNERS-LEE: REGULATE BIG TECH...

Sir Tim Berners-Lee, inventor of the world wide web, has called for large technology firms to be regulated to prevent the web from being “weaponised at scale”.

“In recent years, we’ve seen conspiracy theories trend on social media platforms, fake Twitter and Facebook accounts stoke social tensions, external actors interfere in elections, and criminals steal troves of personal data,” Berners-Lee wrote in an open letter marking the 29th anniversary of his invention.

These problems have proliferated because of the concentration of power in the hands of a few platforms – including Facebook, Google, and Twitter – which “control which ideas and opinions are seen and shared”.

“What was once a rich selection of blogs and websites has been compressed under the powerful weight of a few dominant platforms,” said the 62-year-old British computer scientist.

These online gatekeepers can lock in their power by acquiring smaller rivals, buying up new innovations and hiring the industry’s top talent, making it harder for others to compete, he said.

Google now accounts for about 87% of online searches worldwide. Facebook has more than 2.2 billion monthly active users – more than 20 times more than MySpace at its peak. Together, the two companies (including their subsidiaries Instagram and YouTube) slurp up more than 60% of digital advertising spend worldwide.

Although the companies are aware of the problems and have made efforts to fix them – developing systems to tackle fake news, bots and influence operations – they have been built to “maximise profit more than maximise social good”.

“A legal or regulatory framework that accounts for social objectives may help ease those tensions,” he said.

> more: https://www.theguardian.com/technology/2018/mar/11/tim-berners-lee-tech-companies-regulations

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In blockbuster antitrust trial, Big Tech looms in background...

Washington (AFP) - In the biggest antitrust court battle in decades, the US government will seek to block the merger of AT&T and Time Warner to prevent the creation of a powerful new television behemoth.

With opening arguments set for Wednesday, AT&T will be pointing to the new landscape in which media is increasingly domination by Big Tech giants like Netflix, Amazon and others.

The Justice Department filed suit in November to block the planned $85 billion tie-up of AT&T, one of the dominant telecom and internet firms, with media-entertainment powerhouse Time Warner.

The deal had been under review since late 2016, and the move by the Trump administration represents a test for antitrust enforcers in the digital age.

The case has also been clouded by politics, notably the feud between President Donald Trump and Time Warner unit CNN -- which the White House regularly attacks as "fake news."

Unconfirmed reports have suggested the government sought the sale of CNN as a condition for approval of the merger.

The Justice Department argues in its trial brief that the tie-up would be bad for competition and raise prices.

If the deal goes through, government lawyers said in the brief, "American consumers will end up paying hundreds of millions of dollars more than they do now to watch their favorite programs on TV."

. . . "It's hard to say whether this portends a different direction for antitrust," Radia said.

"There is a chance that some in this administration want to take antitrust in a different direction, but also that a future administration could use this as precedent."

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More troubles for FB ... update

1iJeDfu.gif

Data Leak Puts FACEBOOK Under Intensifying Scrutiny...

Violated FTC privacy deal?

Lack of leadership could sink company...

  • Facebook's reaction to a year of scandal has vacillated between defensive cluelessness and aloof silence.
  • Users are getting the message that information they post on Facebook can be used in ways they did not intend, and usage is starting to decline.
  • Meanwhile, executives are selling shares like crazy, including a plan by Mark Zuckerberg to sell almost $13 billion worth of shares by mid-2019.
Mark Zuckerberg, founder and CEO of Facebook
Mark Zuckerberg, founder and CEO of Facebook

Facebook is facing an existential test, and its leadership is failing to address it.

Good leaders admit mistakes, apologize quickly, show up where they're needed and show their belief in the company by keeping skin in the game.

Facebook executives, in contrast, react to negative news with spin and attempts to bury it.

=== ===

Edward Snowden: Facebook Is A Surveillance Company Rebranded As "Social Media"

ed-snowden-slm1.jpg?h=e2e58df6&itok=XtZW

"Facebook makes their money by exploiting and selling intimate details about the private lives of millions, far beyond the scant details you voluntarily post."

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STOCKS PLUNGE: w/SPY :

sSg1wYK.gif

FACEBOOK FREAKOUT

Facebook fell as much as 8.1 percent to $170.06 on Monday in New York, wiping out all of the year’s gains so far. That marked the biggest intraday drop since August 2015.

Heat on Zuckerberg...

Facebook Inc. shares posted their steepest drop since 2015 as U.S. and European officials demanded answers to reports that a political advertising firm retained information on millions of the social network’s users without their consent.

Politicians on both sides of the Atlantic are calling on Chief Executive Officer Mark Zuckerberg to appear before lawmakers to explain how U.K.-based Cambridge Analytica, the data-analysis firm that helped Donald Trump win the U.S. presidency, was able to harvest the personal information.

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Facebook is Quite Literally Dying: Good Riddance

 

Ex-Obama Campaign Director Drops Bombshell Claim on Facebook: 'They Were on Our Side'

A former Obama campaign official is claiming that Facebook knowingly allowed them to mine massive amounts of Facebook data — more than they would’ve allowed someone else to do — because they were supportive of the campaign.

> https://ijr.com/2018/03/1077083-ex-obama-campaign-director-fb/

Thanks, but we already knew Facebook, Google, and Twitter are biased monopolies. Amazon too.

 

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Advertisers threaten to pull out of FACEBOOK... 

ZUCKERBERG SPEAKS...

REGULATE ME... 

Advertisers threatened to abandon Facebook last night as Mark Zuckerberg apologised for mistakes it made over the Cambridge Analytica scandal.

Mr Zuckerberg, co-founder and chief executive of the US technology giant, broke his silence to head off a revolt among users and financial backers. He described the incident as a “major breach of trust” and said he was open to further regulation of the website.

ISBA, a British group of advertisers that spend hundreds of millions of pounds a year on Facebook, demanded answers. It is understood that some of its 3,000 brands, which include those of the consumer goods companies Unilever and P&G, will not tolerate association with Facebook if it emerges that users’ data has found its way into the hands of brokers…

. . . Facebook chief executive Mark Zuckerberg said on Wednesday that he’s open to having his company be regulated.

“Actually, I’m not sure we shouldn’t be regulated,” Zuckerberg said in an interview with CNN that represented some of his first public remarks since the Cambridge Analytica controversy plunged his company into crisis and led to calls for his testimony to Congress.

“I actually think the question is more ‘what is the right regulation?’ rather than ‘yes or no, should it be regulated?’” Zuckerberg told CNN. The Facebook CEO said that “he would love to see” new transparency regulations for political advertisements. Facebook has been criticized for a lack of transparency.

“If you look at how much regulation there is around advertising on TV, in print, you know, it's just not clear why there should be less on the internet,” he said.

Facebook and other tech firms have resisted legislative efforts in Congress to impose new regulations.

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The First Big casualty: FB?

STOP THE HARVEST, shrink your corrupt Revenues, or Die, Fakebook!

"Give me Privacy, or Give you Death!"

Between fake news and data harvesting, FACEBOOK has no way to win...

Mark Zuckerberg is stuck in a catch-22. Any fix for Facebook’s previous big problem — fake news — would make the current big problem with data harvesting worse.

As a media company and one of Americans’ top sources of information, Facebook’s de facto anonymity and general lack of responsibility for user-generated content make it easy for propagandists to exploit. Making matters worse, it isn’t willing to impose tighter identification rules for fear of losing too many users, and it doesn’t want to be held responsible in any way for content, preferring to present itself as a neutral platform.

So Zuckerberg has been trying to fix the problem by showing people more material from friends and family and by prioritizing “trusted publishers” and local news sources over purveyors of fake news.

But the Cambridge Analytica scandal shows people may not be OK with Facebook’s data gathering, improved or not.

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The scandal follows the revelation (to most Facebook users who read about it) that, until 2015, application developers on the social network’s platform were able to get information about a user’s Facebook friends after asking permission in the most perfunctory way. The 2012 Obama campaign used this functionality. So — though in a more underhanded way — did Cambridge Analytica.

> more: https://nypost.com/2018/03/23/between-fake-news-and-data-harvesting-facebook-has-no-way-to-win/

It is quite okay with me, if Facebook shrinks, even dies.

I never liked their leftwing virtue-signal corruption anyway - they "leaned-in" to something dark, as far as I could tell

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Facebook's new marketing mantra:

" FB has revolutionized the world of digital scamming"

" Thanks to the social network's influence, a lucrative cottage industry has been created to help connect sellers of sham goods - everything from "miracle" diet pills to "male enhancers" - to buyers. In addition to the manufacturers, there now exists a layer of so-called affiliate marketers: Middlemen who by online ad space in bulk then offer to create and place advertisements for companies in exchange for sales commissions. "

"We Find The Morons For You" - Facebook's Microtargeting Ad Pitch Exposed

Under the direction of CEO and founder Mark Zuckerberg, Facebook built tools to help the world's largest brands target ads to consumers with data-enhanced precision.

Then the company stood idly by as scammers hijacked those tools and used them to sell sham products and services to gullible consumers.

Shortly before news broke this morning that Zuckerberg would testify before at least two Congressional committees - while shunning lawmakers in the UK, Bloomberg published a detailed feature about the world of scammers, charlatans and hucksters who use Facebook's marketing tools to sucker unsuspecting Facebook users into buying their shoddy wares.

https://www.zerohedge.com/news/2018-03-27/we-find-morons-you-facebooks-microtargeting-ad-pitch-exposed

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Stock market cooling off from the 'Trump bump'...

Wall Street has muddled through a bumpy 2018, with the economic optimism that drove major gains during President Trump's first year in office steadily eroding.

Stocks have seen rampant volatility this year, in part because of rising trade tensions and growing questions about the outlook for the U.S. economy. While major U.S. stock indexes are still priced well above what they were before Trump took office, they've fallen close to 10 percent from their record highs

The picture was very different last year, when excitement for sweeping U.S. tax cuts and increases in corporate earnings fueled a massive stock surge dubbed the "Trump bump."

Analysts generally see the white-hot stock market frequently touted by Trump as coming back to earth. 

“It is overdue,” said Frank Cappelleri, executive director of institutional sales and trading at Instinet. “We have to put it in the context of where we came from. You didn’t know when it was going to end, but it had to end.”

Trump entered his presidency promising to slash taxes, cut regulations and loosen strict banking and lending rules imposed after the financial crisis. With Republicans controlling Congress, investors grew confident that those promises would become reality — and that businesses would benefit.

Bullish traders saw positive signs almost everywhere in the economy during Trump’s first year. Unemployment sank to 4.1 percent. Consumer confidence and spending rose. Corporate earnings outpaced projections, and the economy began growing at a faster pace.

But 2017’s euphoria has started to fade. With the GOP tax cuts enacted, analysts are now scouring for signs that lower rates are actually fueling more growth. 

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The Demise of "Fakebook" (Facebook) is now readily Imaginable

Zuck may have 'ucked himself & FB by being too greedy and harvesting too much

How it was:

Symbol Company : YrE.' 15 :  YrE. '16 :  +1yr.chg : YrE. '17 : +2yr.chg : $-Last- : +change : P/ER : earn.ps
FB      / Facebook  : $104.66 : $115.05 : +  9.93% : $176.46 : +68.60% : $189.35 : +80.92% : 36.70 : $5.16 :

Latest

FB      / Facebook  : $104.66 : $115.05 : +  9.93% : $176.46 : +68.60% : $157.20 : +50.87% : 29.14 : $5.39 :

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Versus SPX - etc : update

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> new thread: Death of Facebook

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