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Facebook Fined 7 Minutes' Revenue for Data-Mining Scandal

UK punishes company over Cambridge Analytica

(Newser) - Facebook is facing its first financial penalty for allowing the data-mining firm Cambridge Analytica to forage through the personal data of millions of unknowing Facebook users. A UK government office that investigated the Cambridge Analytica scandal has announced its intention to fine Facebook $663,000 for contravening the law by... More »

Before It Was Mature Facebook, Infant Facebook Was 'Wild'

'Wired' takes a closer look at Zuckerberg and his team during the social media giant's early days

(Newser) - It's true that Mark Zuckerberg jump-started Facebook in the spring of 2004 while attending Harvard, but it was in the infant firm's new home in Silicon Valley just a few months later where endless hours of frenetic coding, partying, and a "brogrammer 'tude" started to transform... More »

Move Over, Buffett. There's a New No. 3 on Richest List

Mark Zuckerberg had a very good day on Friday

(Newser) - Facebook shares climbed 2.4% on Friday to a record $203.23, reports Bloomberg , a performance fine enough to vault founder Mark Zuckerberg past the vaunted Oracle of Omaha on the list of the world's richest people. The surge put Zuck at a net worth of $81.6 billion,... More »

Declaration of Independence Flagged as Hate Speech

Site apologizes over algorithm issue

(Newser) - The Declaration of Independence contains hate speech, according to Facebook's algorithms. Though the social media site eventually allowed the famed historical document to be shared in full, Texas' Liberty County Vindicator ran into trouble while posting fragments of the text on its Facebook page ahead of Independence Day. Facebook'... More »

Latest Facebook Glitch: Millions of 'Private' Posts Made Public

As many as 14 million users affected

(Newser) - Facebook said Thursday that a software bug made some private posts public for as many as 14 million users over several days in May, the AP reports. The problem, which Facebook said it has fixed, is the latest privacy scandal for the world's largest social media company. It said... More »

Facebook Says It Gave 4 Chinese Companies Access

One of which was Huawei, which has lawmakers unnerved

(Newser) - Days after the New York Times came out with a report alleging that Facebook improperly let other companies have access to users' personal information comes a follow-up from the Times that reports the group included four Chinese companies—one of which US intelligence has identified as a possible national security... More »

Report: WhatsApp Founders Walked Away From $1.3B

'WSJ' has lengthy piece on Jan Koum and Brian Acton's exit from the company

(Newser) - Itching to take your job and shove it? What if doing so meant leaving $1.3 billion on the table? That's what the Wall Street Journal reports the founders of WhatsApp did in exiting Facebook prior to November. That's the month when their unvested shares would have fully... More »

Facebook Faces Another Controversy Over Privacy

'New York Times' reports that company gave device makers access to users' info

(Newser) - The New York Times is out with a report alleging that Facebook improperly let other companies have access to users' personal information—and even their friends' information. Facebook has quickly pushed back against the allegations. The Times says that Facebook set up data-sharing agreements with at least 60 device-makers such... More »

In a Sign of the Times, Facebook Drops 'Trending' Box

The social media platform is testing several new products

(Newser) - Facebook has announced that it is dropping the “Trending” news section that sits to the right of the News Feed, reports theverge . Facebook introduced the section in 2014, but it never got on solid footing. It was only available in five countries and generated less than 1.5% of... More »

One Country Is Banning Facebook for a Month

Papua New Guinea takes a stand against the social-media site

(Newser) - Residents of Papua New Guinea may have to forget about using Facebook for a while, the Guardian reports. The country's communication minister, Sam Basil, says his government plans to shutter the social media site for a month to cull out "fake users" and see how Facebook is affecting... More »

Hillary Clinton as CEO? She's Got a Company in Mind

Facebook, she says, while answering hypothetical question

(Newser) - Hillary Clinton was at Harvard Friday to pick up an award, and she's making headlines for her quick answer to a hypothetical question. When asked what company she would like to be CEO of, Clinton instantly responded, "Facebook," reports CNET . The audience then laughed, as did Clinton... More »

Nurses Want Zuckerberg's Name Off Hospital

Patients are concerned about privacy, they say

(Newser) - How would you feel about being a patient at Zuckerberg San Francisco General Hospital ? For some patients, having the Facebook founder's name plastered on the hospital is worrisome—and over the weekend, nurses at the hospital staged a protest to push for Zuck's name to be removed,... More »

Lawmakers Release Russian Facebook Ads

They took both sides on the issues

(Newser) - Curious to see the Facebook ads bought by Russian agents? Democrats on the House Intelligence Committee just released about 3,500 of them on issues from gun control to Black Lives Matter to immigration—often taking multiple sides on the same issue, the Washington Post reports. "They sought to... More »

Facebook Is Getting Into the Dating Game

And more from the F8 developer conference

(Newser) - Facebook CEO Mark Zuckerberg gave the keynote address at F8, Facebook's annual developer conference, in San Jose Tuesday, and pledged the social network will fix its privacy problems—though he did not apologize for the recent Cambridge Analytica data-mining scandal. He did, however, poke fun at himself while unveiling... More »

Facebook's New Headache: It Might Employ a 'Pro Stalker'

Company looking into claim that security engineer used his access to data to cyberstalk women

(Newser) - Already under fire for its user data scandal , Facebook is facing new allegations on the misuse of customer data that veer into the cyberstalking realm. It started on Sunday with a tweet from Jackie Stokes, head of the Spyglass Security computer security firm: "I've been made aware that... More »

He Took Billions From Facebook, Then Clashed With It

WhatsApp CEO sold company to Facebook in 2014, is now exiting over rumored friction

(Newser) - If you sold the company you co-founded for $19 billion in 2014, it makes sense that four years later you might decide to step down to focus on "collecting rare air-cooled Porsches, working on my cars, and playing ultimate frisbee," as Jan Koum wrote Monday on Facebook . But... More »

Facebook Pays $7.3M for Extra Zuckerberg Need

Apparently the world's richest man needs a little protection

(Newser) - Facebook's CEO may have earned a paltry $1 salary last year, but he still doesn't come cheap. The world's biggest social media network increased spending on Mark Zuckerberg's security by 50% in 2017, paying over $7.3 million to keep him safe, the Guardian reports. The... More »

One Question Illustrates Why Congress Can't Fix Facebook

Lawmakers just don't seem to understand how the company works

(Newser) - Now that Mark Zuckerberg has finished two days of testimony on Capitol Hill, one clear theme is emerging in coverage after the fact: Members of Congress, particularly senators in their 70s and 80s, seem to lack a fundamental understanding of how the company works. That should "give everyone serious... More »

Mark Zuckerberg Gets Grilled in Congressional Hearing Round 2

Members of Congress seemed better prepared on Wednesday

(Newser) - Mark Zuckerberg appeared to endure a tougher round of questioning in the House of Representatives on Wednesday than he did Tuesday in the Senate. While CNN called Tuesday's Senate hearing on the Cambridge Analytica data privacy scandal "softball," the Facebook CEO received a more intense grilling in... More »

Zuckerberg Says He Was One of the 87M

Facebook CEO's own data was scooped up by Cambridge Analytica

(Newser) - Mark Zuckerberg was back on Capitol Hill Wednesday, and he told lawmakers in a House Energy and Commerce Committee hearing that his own Facebook information was compromised in the Cambridge Analytica scandal, with Zuckerberg numbering as one of the 87 million users whose data was shared. Reuters reports he didn'... More »

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