Facebook's scandals have been great for shareholders
Facebook has been embroiled in scandal for the past five years, and while the specific allegations change over time, a central theme is constant. Given the choice between commercial and moral imperatives, Facebook always seems to choose the option that is best for the share price.
Why it matters: Facebook's stock chart supports that narrative. Since the 2016 scandals alleging that the social network was infiltrated by foreign actors trying to influence the outcome of democratic elections, Facebook's revenues — and its stock — have been soaring.
Between the lines: While extreme profitability hardly proves malign intent, it's entirely consistent with the narrative that Facebook is much more interested in growth than in addressing internal or external concerns about its deleterious effects on the nation and the world.
The bottom line: Facebook reported Monday that it generated over $10 per user in the most recent quarter alone, and has some 3 billion users worldwide.
- That might make the company too big to manage — but so long as the profits keep on rolling in, Wall Street, for one, seems happy.