Data company

The value of Facebook’s shares has fallen because of that big data breach

Investors are scared governments are going to crack down on how tech companies use data

Facebook's under a lot of pressure after it was revealed that a firm with links to Trump's 2016 election campaign had harvested information from more than 50 million Facebook profiles.

What it means: The accusation is that the company, Cambridge Analytica, used the data to influence US voters in the election. It's been a huge scandal in both the US and Europe, and politicians have called for a closer examination of what tech firms are doing and how they work.

Investors are scared that the revelations will mean greater government involvement – or   – of tech firms, which could hit their profits.

When investors buy a share in a company, they're essentially betting its profits will improve and the company will get bigger. That means the shares they've bought will get more valuable. When investors get wind that might not happen, they sell their shares. When investors start selling their shares, they become *even* less valuable. The value of shares in Facebook fell by nearly $40 billion in one day.

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  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?