2018 may very well be the worst year Facebook has ever had. The Cambridge-Analytica scandal was national news and sparked massive outrage over the alleged harvesting of user data and complete breach of privacy. Along with slipping into a hard bear market this year, Facebook’s capitalization plummeted $120 billion dollars in a single day back in July, which is the worst single-day drop in history. Back in September, hackers gained access to roughly 30 million Facebook accounts, and in early December, it was revealed that a bug that occurred back in September exposed the private photos of 6.8 million users to third-party app developers. Put all that together with the revelation that Facebook has been sharing user data big time with other big tech companies, and Facebook has never been most hated or distrusted.
Despite all of that, Mark Zuckerberg is proud of Facebook in 2018. He has expressed his pride in Facebook and thanked everyone that has helped the company reach this point.
In regards to the improvements that Facebook has made, Zuckerberg said that “we’re a very different company today than we were in 2016, or even a year ago. We’ve fundamentally altered our DNA to focus more on preventing harm in all our services, and we’ve systematically shifted a large portion of our company to work on preventing harm.”
Zuckerberg insists that the company has multiple plans to combat problems that have been plaguing Facebook. They certainly have their work cut out for them, but Zuckerberg has faith that they will manage.
