Elder Patriot – Facebook’s Chairman and CEO, Mark Zuckerberg is in a mess of his own making and he continues to add to his woes with one arrogantly stupid strategic decision after another.
The result of his irresponsible guidance of Facebook’s handling of the personal information of hundreds of millions of users worldwide has led to the opening of criminal inquiries both here and in England.
Facebook’s investors realizing the potential of massive financial penalties have sent the stock’s price spiraling over the past 11 days. The company has lost 15% of its value in the selloff. The early round of fleeing investors are ones who realize the incredible legal liabilities facing Facebook due to Zuckerberg’s mismanagement of the company.
Zuckerberg, himself, has been selling his stock in Facebook – tens of billions of dollars worth of stock – that began before the Cambridge Analytica revelation.
This raises the question; what does Zuckerberg know and when did he know it?
It’s likely that Zuck the Cuck knew about all of his company’s wrongdoing and even sanctioned it. As we have been reporting for the past week, the Cambridge Analytica leak is probably the least of Zuckerberg’s troubles.
Peter Thiel is a billionaire venture capitalist who holds a seat on Facebook’s board of directors. He has gone public with his disgust of Zuckerberg’s decision’s, malfeasant management, or both, that has the company facing the prospect of being regulated by the government.
So, with their investment in the company being diminished by daily announcements of newly uncovered wrongdoing how much longer will they tolerate leaving Zuck at the helm?
Zuck’s arrogance will prove to be his undoing.
He has been summoned to testify in front of the British parliament and has very publicly told them that he’ll pass. Instead he’ll send someone in his place to answer their questions.
The optics suggest that Zuck either thinks he’s bigger than the countries in which Facebook operates or he’s really just an immature kid who doesn’t understand the gravity of how he allowed his personal prejudices directed Facebook to bias political debate.
Either way it’s the sign that Zuck is not equipped to lead a company as important to Americans as is Facebook.
There are those calling for Facebook to be broken up but that will not serve the interest of the American people.
Facebook’s platform allows like-minded Americans to share information on a scale that was never before available. Going backwards restores power to the mainstream media matrix. That may serve the interest of those in control of government but that didn’t serve the Constitutional rights of the We the People very well in the past.
In the face of this highly publicized challenge it’s hard to see Congress doing anything but operating in the public interest. That means regulating Facebook in some way.
Zuck has proven that managing Facebook in a manner that represents the interests of all of its users takes a backseat to his political biases. Clearly he’s not the person to trust with enforcing any regulations that may be placed on Facebook by Congress.
That leaves this question; how much longer will Facebook’s directors allow Zuckerberg to hold onto his positions?