What They’re Saying: The Facebook Fallout

facebook fallout

It seems puzzling to say a company that is worth nearly half a trillion dollars is venturing somewhere near zero degrees Kelvin, but if you were only reading headlines this week you’d get the sense that Facebook isn’t looking so hot.

Since the break of the Cambridge Analytica scandal, the tech giant lost an estimated $100 billion USD in value, and its beleaguered founder Mark Zuckerberg lost an estimated $14 billion of his own worth. Fortunately for him, according to CNN, he’s still worth over $60 billion so he can easily afford more mayonnaise and butter sandwiches.

But the fallout is more than monetary. Trust in the social media company is at a critical low point, according to Statista data.

Janina Conboye at the Financial Times recently asked how the company may go about repairing its own image in “The MBA view: can Facebook fix its reputation?,” speaking with numerous business school faculty members, including London Business School‘s Jill Schlechtweg, who plainly says, “It is worth wondering whether Facebook can regain credibility at all. Arguably Mark Zuckerberg has evaded responsibility for the social costs of social media addiction, the proliferation of fake news, and now leaks of personal data for political ends.”

Check out how other business schools and industry experts are reacting the ongoing Facebook story below.

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About the Author

Matthew Korman

Matthew Korman is a writer on MetroMBA. Since graduating from Rowan University with a degree in journalism and political science, Matthew has worked as a music industry writer and promoter, a data analyst, and with numerous academic institutions. His works have appeared in publications such as NPR and Sports Illustrated.

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