Here’s what Mark Zuckerberg and Facebook haven’t said in regards to the Cambridge Analytica data breach of 50 million users.
No one is saying Facebook was hacked, so why call it a breach? The Bergs — Mark and Sheryl Sandberg — sold that user information to Cambridge Analytica. This is the sneaky business model of all social media. Continue reading
Facebook CEO Mark Zuckerberg was shocked, Shocked I tell you, that there were people using its data for nefarious reasons, while I documented that he cashed in billions in recent stock sales.
Zuckerberg who is playing the shill, now wants to look at how outside developers — including data-analytics firm Cambridge Analytica — used the vast treasure trove of users data to manipulate allegedly the 2016 presidential election. Continue reading
New Fed chief Jay Powell ends his first two-day meeting with a press conference Wednesday.
The market has a 90% expectation for a 0.25% rise in Fed Funds Rate to 1.5%-1.25% range. More importantly is Powell’s comments on the economy. Since the Fed is the 800-lbs gorilla in the government bond market, I don’t expect anything sensational coming from his comments.
Any policy changes will be on the edges as traders parse the statement for future moves.
The key to the statement is whether there would be 3 or 4 hikes this year. Powell in Congressional testimony has been perhaps overly optimistic on the economy.
I am on the record saying there will only be this hike for 2018, as Corporate America is addicted to cheap money to pump up share prices by borrowing cash to fund stock buybacks.
The steeping of yield curve — while very good for bank profits if they ramp up lending — increases current borrowing costs at a time of greater issuance to fund corporate tax breaks.
The Austin, Texas bomber killed himself in an explosion this Wednesday morning after a shootout with the police and FBI.
Interesting Q-Anon posted last night that the FBI opened a file on the entity because of the use of BOOMs in his posts and a possible connection to the bomber.
Q-Anon says it’s a ruse to cut off communications, but it will fail.
Facebook will be the first social media platform to have its reputation further tarnished as shares fell Monday more than 10% off its recent highs.
As I wrote Monday there will be an Internet Bill of Rights coming out of the Federal Trade Commission this year — once Trump’s three appointees are seated — that will regulate the terms and conditions of these platforms to align with First and Fourth Amendment protections in the Constitution. Continue reading
If we have learned anything coming out of the 2016 presidential election, it is that social media is neither social or media.
While the First Amendment protects Americans against government infringement of free speech, Facebook, Twitter, YouTube Snapchat, Instagram and the like have no obligation to protect your rights as a corporation. Continue reading