When evil is priced in
Google’s old ‘Don’t be evil’ rule was always about doing the right thing morally. By that measure, Facebook is evil.
It’s about how the company dealt with all those scandals internally. And yes, weaponising anti-semitism and blaming George Soros were just two of their tactics.
“While Mr. Zuckerberg has conducted a public apology tour in the last year, Ms. Sandberg has overseen an aggressive lobbying campaign to combat Facebook’s critics, shift public anger toward rival companies and ward off damaging regulation. Facebook employed a Republican opposition-research firm to discredit activist protesters, in part by linking them to the liberal financier George Soros. It also tapped its business relationships, persuading a Jewish civil rights group to cast some criticism of the company as anti-Semitic.”
Oof. You really need to read it all as it depicts a company not set up to handle crises very well.
But here’s the thing – Facebook’s stock price was unaffected in the wake of the story going live. It seems investors have factored Facebook’s 'evil’ into its stock price, like investors in cigarette firms and fossil fuel companies do. 'You’ll get good returns, just ride out the scandals.’
It’s worth clarifying that individual Facebook staff aren’t evil (hello, subscribers who work there!) but the company’s culture has evolved into something nasty that – like Uber before it – needs a serious rethink.
must be wondering if he’s taken the right job.