Facebook is the largest social network and one of the most successful companies in the world. However, the company has come under fire from the media because of user data that was compromised. This is not the first time that Facebook has had very serious issues concerning the protection of the data of their users. However, this time the company is suffering very serious financial consequences. That was not the case before. The stock of Facebook fell $50 billion after the compromised data became public knowledge.
Facebook CEO Mark Zuckerberg stayed quiet for five days after the scandal broke. Constant requests for comment from various media sources were denied. He finally posted a comment on his own Facebook page. He did admit that the company had made some mistakes when it came to the handling of the data entrusted to them by their users. He also said that changes will be made and the company will step up and make them. Zuckerberg said that he does take responsibility for what happened. However, he never apologized for allowing the data of Facebook users to be so easily compromised. Some critics have said that apologizing could be seen as admitting guilt and could open the door for a potential class action lawsuit against Facebook. It remains to be seen if that will happen.
Facebook has faced large public relations problems in the past and overcome them. However, this time might be different. The outrage from users who feel betrayed seems to be more intense than it has in the past. Will users finally decide that they have had enough and delete their accounts for good? Only time will tell if that will happen. There is no question that Zuckerberg and his team have a lot of work to do when it comes to regaining the confidence of the people who have made Facebook such a huge success. Zuckerberg did not lay out any specific things he would do to fix the problem in his statement.