Jul 26, 2018

Facebook's big fall

Dan Primack

Facebook shares fell nearly 19% on Thursday, or $41.24 per share, wiping out more than $119 billion in value. Within that is a $15 billion hit for founder and CEO Mark Zuckerberg.

Data: Money.NET; Chart: Harry Stevens/Axios
  • This came after Facebook reported slower revenue and user growth in the second quarter.
  • The big losses came in aftermarket trading yesterday, but Facebook was unable to make up much ground during today's session.
  • Facebook stock is now underwater for 2018.

Go deeper: Why Facebook's shellacking spells danger for all stocks

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Sara Fischer

Zuck's 2020 campaign

Illustration: Sarah Grillo/Axios

Mark Zuckerberg said Thursday he's giving up setting annual challenges for himself and trying to take a longer view. But 2020 has already thrown down a challenge for him: threading a needle between business demands and political landmines.

The big picture: Zuckerberg has to grow revenue and users, yet not get blamed for tipping another election — and not buckle on what he views as the core value of free speech. Despite an onslaught of bad press, he seems to be succeeding ... for now.

Go deeperArrowJan 9, 2020
Sara Fischer

Exclusive: Facebook adding part-time fact-checking contractors

Photo: Thomas Trutschel/Photothek via Getty Images

Facebook is creating a new pilot program in the U.S. that will leverage part-time contracted "community reviewers" to expedite its fact-checking process.

The big picture: The community reviewers will help to corroborate or debunk stories that Facebook's machine learning tools flag as potential misinformation. This will make it easier for Facebook's fact-checking partners to quickly debunk false claims.

Go deeperArrowDec 17, 2019
Scott Rosenberg, Sara Fischer, Rashaan Ayesh

Facebook won't stop letting politicians lie in ads

Photo: Chip Somodevilla/Getty Images

Anyone who was waiting for Facebook to change its controversial political ad policies — particularly the one that allows politicians to lie with impunity — will have to keep waiting, the company made clear Thursday.

Driving the news: Facebook released a raft of small changes to its rules around political ads, including giving consumers the option to block political ads from their feeds.

Go deeperArrowJan 9, 2020