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CEO Mark Zuckerberg Responds To Facebook Document Dump

SOCIAL MEDIA TRENDS - Keisha Wray Article

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Facebook CEO Mark Zuckerberg kicked off a quarterly earnings call by addressing the latest wave of coverage based on a trove of leaked internal documents.

CNN is reporting on Zuckberberg’s response to recent bad publicity over his social media platform. “Good faith criticism helps us get better, but my view is that we are seeing a coordinated effort to selectively use leaked documents to paint a false picture of our company,” Zuckerberg said. “The reality is that we have an open culture that encourages discussion and research on our work so we can make progress on many complex issues that are not specific to just us.”

On Monday, Facebook warned that the iOS 14 changes could create “continued headwinds” in the fourth quarter of 2021.
“We’ve been open about the fact that there are headwinds coming and we experienced that in Q3. The biggest is the impact of iOS 14 changes,” COO Sheryl Sandberg said on the company’s earnings call Monday. “As a result, we’ve encountered two challenges: one is that the accuracy of our ad targeting decreased, which increased the cost of driving outcomes for our advertisers, and the other is that measuring those outcomes became more difficult.”
Facebook has pushed back on many of the reports, saying they are misleading and mischaracterize its research and actions. Zuckerberg last commented on the situation following Haugen’s Senate hearing earlier this month, in a statement in which he tried to discredit the whistleblower. Still, on Friday, another former Facebook employee anonymously filed a complaint against the company to the SEC, with allegations similar to Haugen’s.

CFO Dave Wehner said Facebook is investing so heavily in this newer division that it will reduce “our overall operating profit in 2021 by approximately $10 billion.”

In a statement with the results, Zuckerberg also focused on what’s next: “I’m excited about our roadmap, especially around creators, commerce, and helping to build the metaverse.”