OMG! The walls are coming down on Facebook. At least, that’s what the media would have you believe. Yes, Facebook screwed up big time and yes, some heads should roll but the reality is that not many people are going to leave the world’s numbers one site and with it marketer will continue to advertise on Facebook.
Neither Mr. Zuckerberg nor Sheryl Sandberg, Facebook’s chief operating officer, has made any public appearances this week. [inlinetweet prefix=”” tweeter=”” suffix=””]Facebook employees have described a tense atmosphere in which some joked about selling their stock in the company before it took another dip[/inlinetweet]. The company has lost about $50 billion in market value in the last couple of days. Over the past few months, as criticism of the company’s role in the 2016 election has escalated, some employees have sought to transfer to other divisions of the company, such as WhatsApp and Instagram, calling their work on Facebook’s main product “demoralizing.”
Make no mistake about it, Mr Zuckerberg’s silence during this fiasco was a huge mistake, but remember Facebook has always been a company that launches products and fixes them later. However, to this day I still can’t name one accomplishment of Sheryl Sandberg, who was supposed to bring an adult approach to business for Facebook. It seems that all she has done is to make a LOT of money there while writing books.
Mark finally came forward and admitted that he bears the responsibility for this mess and that yes, tech should be regulated. [inlinetweet prefix=”” tweeter=”” suffix=””]Facebook could have set up a business process to monitor the site’s third party apps to ensure that what happened didn’t happen, but either they were too naive, too stupid, or just wanted to make a lot of money to put safeguards in place.[/inlinetweet]
You might read of some people leaving Facebook, but overall this is just going to be a small wave crashing against their brand. They are still going to be making a hell of a lot of money. What they desperately need now are some tech business people who can bring a much needed sense of discipline to the company. [inlinetweet prefix=”” tweeter=”” suffix=””] Facebook will survive and users will still use their site because we all need our dopamine fix.[/inlinetweet]