Shares of Meta (FB), parent to societal cancer Facebook, slid past a major milestone on Thursday when the company unceremoniously fell off the list of the world’s 10 most valuable companies, closing with a market cap of $565 billion that marked a 46% decline from last year’s record.
Max Zahn with Andy Serwer for Yahoo Finance:
Meanwhile, at the top of the list stands rival Apple. The opposite fortunes of the tech giants may inflict a special sting for Meta, since the decline of its stock owes in part to new Apple privacy settings that limit the effectiveness of targeted ads.
In a new interview, taped on Feb. 9, whistleblower Frances Haugen — a former product manager at Facebook who leaked thousands of internal company documents — said the relative success of Apple is rooted in its transparency. She contrasted Apple with Meta, which she says uses secrecy to deny problems with its products.
“Part of the difference is the transparency of the companies,” Haugen says. “When Apple makes a device — within hours of that device — people have literally posted YouTube videos for taking that phone apart and verified [it].”
“That makes Apple work in more responsible ways,” she adds. “Because they know people are watching.”
MacDailyNews Take: It’s comforting when bad things happen to bad people and bad companies.
Keep on keepin’ on, karma!
Instant messages sent by Mark Zuckerberg during Facebook’s early days, reported by Business Insider, May 2010:
Zuckerberg: Yeah so if you ever need info about anyone at Harvard
Zuckerberg: Just ask
Zuckerberg: I have over 4,000 emails, pictures, addresses, SSNs
Zuckerberg: People just submitted it.
Zuckerberg: I don’t know why.
Zuckerberg: They “trust me”
Zuckerberg: Dumb fucks
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Shop The Apple Store at Amazon.