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.
That manipulation is but the tip of the iceberg when it comes to privacy violations for the social network. And if you think calling Zuckerberg in front of Congress to testify will remedy the problem you are sorely mistaken.
Senior Executive Service (more on this later) alum and current Facebook COO Sheryl Sandberg neglected to “Lean In” on this topic and has remained mum despite being named to the company to be the adult in the room.
Sandberg’s previous government service as part of the Senior Executive Service was chief of staff to Treasury Secretary Lawrence H. Summers during the Clinton administration.
While Facebook’s shares are off 10% over the last week, Zuckerberg insulated himself by selling off nearly $1.2B in stock over February and early March. If you examine insider trading data for Facebook, the boy blunder sold shares nearly every day over that timeframe.
Of course the company states Zuckerberg’s sales are for “estate planning” and “portfolio diversification” but that usually happens on one prearranged day a month for executives, not every trading day for over a month.
Let’s just say there is not much to “like” in how the Bergs handled this situation.