Zuckerberg under pressure
Facebook (FB) CEO Mark Zuckerberg seems to be in trouble again, with federal regulators reportedly blaming him for the company’s mishandling of customer data and privacy. Zuckerberg has also been blamed for the exit of high-profile executives, as he owns a controlling stake in Facebook. Chief product officer Chris Cox, WhatsApp vice president Chris Daniels, Instagram co-founders Kevin Systrom and Mike Krieger, and chief security officer Alex Stamos left the company amid disagreements and pressure from Zuckerberg.
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Data privacy concerns
Facebook has been grappling with mounting pressure since the FTC’s (Federal Trade Commission) investigation into Facebook last year after news broke of the Cambridge Analytica scandal, which compromised the data security of ~87 million people. That breach and the possible impact of fake news have raised concerns over Facebook’s business operations. Facebook currently has ~2.3 billion users globally. US and UK regulators are also pressuring Twitter (TWTR) and Alphabet’s (GOOGL) Google to disclose the measures they are taking to keep users’ data safe and stop fake news.