From CNBC here:
With major stock market indexes hitting a string of new highs, investors around the world are looking to explain what’s driving prices higher.
Is it a boom in corporate profits? Optimism about the ongoing U.S. recovery? Improved forecasts for the global economy? Hopes that Congress will cut corporate taxes?
Followers of President Donald Trump’s Twitter feed have known the real reason for months: the election of Donald J. Trump.
They’re both blowing fudge bubbles, that’s for sure.
And it won’t end well for Trump or the stock market — that’s my prediction!
From the New York Times:
In a vote that was “well in excess of the required two-thirds majority,” the board of the Academy of Motion Picture Arts and Sciences expelled the mega-producer Harvey Weinstein after a long history of sexual harassment was uncovered by The Times.
You all knew about it, you pieces of shit, and pretending otherwise is pretty sickening.
In a recent essay for the London Review of Books, John Lanchester argued that for all its rhetoric about connecting the world, the company is ultimately built to extract data from users to sell to advertisers. This may be true, but Facebook’s business model tells us only so much about how the network shapes the world.
While I think that tens of millions of people are on Facebook and not thinking about Facebook’s business, but that does not change the fact that Facebook would not exist unless it was a business.
It was funded from the very beginning by wealthy folks before its IPO as a business, a cleverly disguised advertising business masquerading as a social media platform. And it continues to grow in influence and power as it makes more money and sucks more people into its orbit.
Zucky is legally obligated to his shareholders to deliver maximum financial results.
He’s only obligated to his users to keep them around.
Who do you think dictates what happens at Facebook? Shareholders or Facebook users?
It’s not even debatable.
From the Guardian here:
Weinstein – who produced Good Will Hunting, Pulp Fiction and other award-winning films and television shows – is well connected inside and outside of Hollywood, with a diverse range of powerful allies. He has long been a mega-donor to Democrats, hosting a fundraiser for Hillary Clinton last year and maintaining close ties to Barack Obama.
That’s right a Democratic Party mega donor people!
Where are statements of denunciation from the fabulous Barack Obama and Hillary Clinton? They both know this guy personally – have they come out to stand up for women and to denounce sexual predators???
I’m not holding my breath!
From Naked Capitalism here:
It is remarkable that advertisers and investors have not come down harder on Facebook for the grotesque overstatement of its audience. As the report shows, every way you cut the data, Facebook claims to have considerably more viewers in every age group than exists in the population. For instance, Facebook’s “potential reach” for the 18-34 year old cohort in the US is 97 million, versus an actual population of a mere 75.3 million. That means Facebook says it can get ads in front of 34.2% more people in that age group than actually exists. And the exaggeration looks even more dodgy when you see that the overstatement occurs most in large cities, which generally have higher incomes than the US overall.
This overstatement is even more flagrant when you factor in that Facebook does not have everyone as its customer. Pew found that 84% of all American adults use the Internet as of 2015, so the 16% that don’t clearly cannot be Facebook targets.
God, the good ship Facebook is so full of shit it’s not even funny.
From Bloomberg here:
Since 2011, Facebook has asked the Federal Election Commission for blanket exemptions from political advertising disclosure rules — transparency that could have helped it avoid the current crisis over Russian ad spending ahead of the 2016 U.S. election.
Communications law requires traditional media like TV and radio to track and disclose political ad buyers. The rule doesn’t apply online, an exemption that’s helped Facebook’s self-serve advertising business generate hundreds of millions of dollars in political campaign spots.
So people saw this coming. Anybody can roll up on Facebook’s automated ad placement service and get in the news feeds of millions of Americans.
Zuckie probably saw it too, how could he not? But he offered up the standard corporate anti-regulation bullshit and now we got this orange haired fuck in office, partially as a result of Zuck’s insistence that he could police his spy machine properly.
Thanks for helping out motherfucker, we really appreciate it.
Headline from CNBC:
Wisconsin, Michigan were reportedly main targets of Russia-linked ads on Facebook
This sounds like cooperating with a foreign power to influence an American election, which is against the law and shit.
And it does not appear to be collusion between Trump and the Russians but collusion between Zuck and the Russians.
Boy genius should be getting three hots and a cot.