Republican Florida state Rep. Matt Caldwell blasted Facebook on Tuesday, claiming the platform pushed a “liberal agenda” when it blocked one of his ads supporting the Second Amendment.
“Facebook has mislabeled our ad in an effort to censor our pro-Second Amendment support and endorsement from the NRA,” Caldwell, who’s running for state agricultural commissioner, said.
According to the Tampa Bay Times, a Facebook spokesperson said it made a mistake and fixed the decision.
“We review millions of ads each week and sometimes we make mistakes,” the statement said. “We have overturned the incorrect decision and the ads are now running live on Facebook.” – READ MORE
[divider][/divider]Mark Zuckerberg is counting the cost of user disenchantment with Facebook Inc.
His fortune tumbled by $16.8 billion in late trading Wednesday, as shares of the social media giant slid 20 percent at 5:37 p.m. in New York on disappointing results. If that holds through Thursday’s close, he will slide to sixth place from third on the Bloomberg Billionaires Index. It would also wipe his $13.7 billion of gains for the year, leaving him with just less than $70 billion.
Well, it couldn’t last forever.
And Zuckerberg had it coming. If you believe in karma.
Facebook’s investors have been brushing off the company’s political and privacy scandals since the 2016 US election. That was until Facebook chief financial officer David Wehner said on a second-quarter earnings call today (July 25) that those scandals would take an extensive toll on the company’s finances.
Facebook expects revenue deceleration “in the high single digits for the next couple of quarters,” Wehner said, responding to an analyst who asked about the company’s “fairly dramatic deceleration in revenue growth.” And Wall Street shuddered.
Facebook’s stock plunged by as much as 23% in after-hours trading, slashing more than $150 billion off the company’s market capitalization.
