Written by DML
If you despise Facebook… if you think they play dirty and unfair… if you think they are against freedom of speech…. then you’ll love this article by CNBC which says the company is on a crash course with disaster.
Is Facebook too big to fail? Not at all. Few articles are as spot on as the one below. Keep in mind as you read and SHARE it, that I told my audience months ago Facebook would start to tank. How I love to be correct.
I would be remiss not to say that I think this is all a shame. The company had something great, but it’s failures stem from a liberal ideology that handcuffs its CEO’s brain. What I mean by that is there is a place for politics, and there is a place for business. Zuckerberg mixed the two, and that was stupid. He is letting down his shareholders.
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. Throughout the last year, every time bad news has broken, executives have downplayed its significance. Look at its public statements last year about how many people had seen Russian-bought election ads — first it was 10 million, then it was 126 million.
Top execs dodged Congress when it was asking questions about Russian interference. They are selling their shares at a record clip.