Apr 10, 2018

Facebook stock soars on Zuck testimony

Dan Primack

Facebook shares climbed 4.5% on Tuesday, with most of the increase occurring while Mark Zuckerberg testified on Capitol Hill.

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Data: Money.net; Chart: Axios Visuals
  • Zuckerberg's own Facebook holdings increased in value by around $2.8 billion.

Thought bubble: Wall Street viewed Zuckerberg as a competent leader, and Congress as unlikely to impose strict regulation. It also might have been excited by the revenue possibilities of a possible paid product for users who desire stronger privacy protections.

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Ina Fried

Facebook struggles to clean up its messes

Illustration: Eniola Odetunde/Axios

To speed new products to market, Facebook famously used to tell its employees to "move fast and break things." The job of cleaning up some of the resulting debris is one the company is tackling a lot more slowly.

Why it matters: Facebook is under pressure to offer users more control and provide the public with better accountability. The company has responded with a mix of apologies, policy changes and remedial steps.

Go deeperArrowDec 20, 2019
Scott Rosenberg

Peter Thiel, the bridge between Trump and Facebook

Peter Thiel appearing on "Fox and Friends" in 2019. Photo: John Lamparski/Getty Images

Silicon Valley was abuzz Tuesday after a Wall Street Journal report that Peter Thiel, the tech industry's most prominent Trump supporter, is also a key architect and promoter of Facebook's anything-goes political ad policy.

Why it matters: The report was seized on by Facebook critics who have argued that the ad policy, which exempts candidates' ads and speeches from the site's fact-checking policies, skews pro-Trump. It also highlighted Thiel's role as the key intermediary between Facebook headquarters and the White House.

Go deeperArrowDec 18, 2019
Marisa Fernandez

The world's 500 richest people saw their collective net worth grow by 25% in 2019

Priscilla Chan and Mark Zuckerberg. Photo: Ian Tuttle/Getty Images for Breakthrough Prize

The world's 500 richest people added $1.2 trillion to their collective net worth in 2019, boosting their holdings by 25% to $5.9 trillion, according to Bloomberg.

Why it matters: Income inequality has become a key issue for politicians around the globe, highlighted by the fact that the wealthiest 0.1% of Americans now hold a larger share of wealth at any point since 1929 — the start of the Great Depression.

Go deeperArrowDec 27, 2019