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NYT probes Facebook's crisis response of 'delay, deny, deflect' (updated)

Published 11/14/2018, 06:05 PM
© Reuters. NYT probes Facebook's crisis response of 'delay, deny, deflect' (updated)
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  • A deep dive by The New York Times into a year of discontent at Facebook (NASDAQ:FB) paints a picture of the historically unique company's executive response to being beset by crisis after crisis: "Delay, deny and deflect."
  • With Facebook becoming a powerful force in daily life around the globe, CEO Mark Zuckerberg and COO Sheryl Sandberg "stumbled."
  • "Bent on growth, the pair ignored warning signs and then sought to conceal them from public view," says the piece, in which more than 50 people were interviewed. "At critical moments over the last three years, they were distracted by personal projects, and passed off security and policy decisions to subordinates, according to current and former executives."
  • Facebook responds by acknowledging that it has been slow to address challenges, but has made progress; in the meantime, lawmakers and the Trump administration have been working up proposals for a national privacy law, which would set off a lengthy battle over the future of Facebook's central business model.
  • Troubles in the executive ranks were apparent in late 2015 when then-candidate Donald Trump used the platform for a call to shut down Muslim immigration, and they accelerated with news in 2016 that Russian hackers seemed to be probing Facebook accounts to find people connected to the presidential campaigns. Along the way, Facebook's political backing began to fracture under pressure from angry lawmakers from both the Democratic and Republican parties.
  • Previously: WSJ: Morale at Facebook takes a hit in challenging year (Nov. 14 2018)
  • Updated 6:39 p.m.: David Cicilline -- ranking member of the antitrust subcommittee of the House Judiciary Committee for the Democrats, set to take over the House -- says in response to the piece "Facebook cannot be trusted to regulate itself. This staggering report makes clear that Facebook executives will always put their massive profits ahead of the interests of their customers ... It is long past time for us to take action." FB is down 0.3%.
  • Now read: No U.S. User Growth At Facebook? No Problem - Facebook Still Has Strong Upside


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