Facebook loses $ 150 billion!

F Acebook is still vulnerable, as demonstrated by the EU General Data Protection Regulations (DSGVO) and the scandal surrounding Cambridge Analytica. In Europe, the number of daily and monthly active users has decreased after the adoption of the new privacy rules. After Facebook in the second quarter of 2018 missed the expectations of badysts also in sales and management has only made a very cautious forecast, the action has crashed into trading after hours from time to time more by 23 percent. The market value has thus melted by nearly 150 billion US dollars (about 128 billion euros).

Facebook: Raised Profit

This acts first as an exaggerated reaction – because Facebook continues to be a slot machine. The quarterly sales figure has increased 42% year-over-year to reach $ 13.23 billion (11.31 billion euros) thanks to the surge in online advertising. Profits rose 31% to $ 5.1 billion. The stock has been beaten record up to now, marking his next record before the publication of quarterly figures

Facebook: drop in use

Facebook pointed out that the general European regulation on data protection did not hinder sales. At the same time, however, the number of active users in Europe rose from 377 to 376 million, at least once a month. There was even a drop from 282 to 279 million among members returning daily. Facebook managers have not planned how these numbers would grow. The boss of the company, Mark Zuckerberg, also said that it was encouraging that the vast majority of European users agree to continue badyzing data for personalized advertising. Overall, the number of monthly Facebook users in the world has increased from just under 2.2 to 2.244 billion. Growth has slowed. In this situation, the group introduced a new type of calculation. On at least one Facebook group app – this includes, among others, the Instagram photo platform and the WhatsApp chat service – attacked in June, about 2.5 billion users, he said. Among investors, the number of users has gone down badly because the scope is critical for Facebook's advertising activities

DSGVO: Facebook warned

Facebook had already warned that the number of monthly and daily active Users in Europe should stagnate or decrease slightly in the second quarter. The trigger was the EU's General Data Protection Regulation (DSGVO), which is to be followed from May 25th. To what extent even the unprecedented storm of criticism after the data scandal around Cambridge Analytica slowed growth, remained unclear. The data scandal around Cambridge Analytica may have other consequences for Facebook: for example, the British data protection authority ICO wants the US company to prove 500,000 pounds (about 565,000 euros) prove , said Data Protection Commissioner Elizabeth Denham – claims to be the maximum sentence that can be imposed on the company. The largest online network in the world has broken the law because it has not protected the data of its members. In addition, the company did not transparently demonstrate how Cambridge Analytica badyzed the data. Facebook still has the opportunity to respond to Denham's letter of intent before a final decision is made

Facebook scandal: But no European is affected?

All is clear to many Facebook users: Of the data scandal around Cambridge Analytica According to the social network, no European user is concerned. The affirmative Facebook director Steve Satterfield at a hearing at the Brussels European Parliament. "The best information we have indicates that no European data has been shared." He relied on contracts between Professor Aleksandr Kogan of Cambridge and Cambridge Analytica data badysis firm, Kogan's statements, and

Data Scandal: Zuckerberg in Brussels

It is clear, however, that many people are affected worldwide: The Cambridge Analytica company reportedly has unauthorized pricing data from 70 million Facebook US users. Mark Zuckerberg had to explain in Brussels to the European Parliament. First, the meeting should be held in camera and then finally agreed Facebook CEO Mark Zuckerberg but a public hearing – the vortex was big in advance. But the result is ultimately disappointing. Because Zuckerberg avoided in the European Parliament on May 22, 2018 almost all unpleasant questions easily.

The format of the meeting allowed him the proper freedom: they first gathered the questions from the group leaders, finally answered Zuckerberg. According to the European Parliament, such a grouping is usually customary at the so-called "Conference of Presidents" with the group leaders' group. Speaking after the hearing, the Speaker of Parliament, Antonio Tajani, said that he had proposed the format. But this form of questioning enabled the technology billionaire to respond with generalized answers to the problems raised rather than through concrete answers. Annoying. Because "Zuckerberg Zuckerberg was caught on issues much harder than during his US Congressional marathon on April 11, 2018.

Zuckerberg apologized

" I I am aware that there were a lot of concrete answers that I could not achieve, "said the Facebook boss in the end.He previously apologized for the recent Cambridge data scandal Analytica. Facebook has not acknowledged the extent of its responsibility, inter alia in the fight against the misuse of user information by application developers.

Zuckerberg's Critique – and the format

"It was too short, it was too superficial, it was not substantial enough," said the leader of the European Socialists, Udo Bullmann, and raised a mistake format. "You had to play ping-pong." "He was not very persuasive and did not answer all our questions," conservative EPP leader Manfred Weber wrote on Twitter. However, Zuckerberg's visit showed that Facebook appreciates European users. Jan Philipp Albrecht of the Greens evaluates the survey in the same way: "No answer is also an answer," he said. The evening had said that Facebook was unable to solve the concerns of European consumers. The policy must therefore look even more clearly on Facebook in the future.

Zuckerberg conceded errors before the US Senate

Essentially Zuckerberg presented the facts that he had already submitted to the US Senate. There, the boss of Facebook has already given information. For five hours, senators questioned him about the incidents. John Thune, head of the Senate Commerce Committee, said at the beginning of the hearing that the time had come to make more regulations rather than unilateral promises. It was not sure that users were giving their data to online businesses with a full understanding of the consequences. Some senators have shown gaps in understanding how Facebook works and how it works. We wanted to know how the online network is funded. Zuckerberg responds in horror: "Senator, we have advertising". The 33-year-old CEO again admitted to making serious mistakes and promised stricter data protection. Facebook has not acknowledged the extent of its responsibility, said Zuckerberg and therefore adhered to a pre-published statement.