The fact that Facebook Inc. re-named the street in which it is headquartered "1 Hacker Way" should have been a clue to this social media giant's business ethos but it obviously didn't register with national governments and everyday Internet users.
By the time All tech reported this on 11 November 2016 we were all a little more informed, but Facebook was still trying to pull the wool over our eyes:
Denials of a dangerously lax attitude to risk in Facebook Inc.'s business model continued to be made as more information surfaced......
Then we saw Zuckerberg donning a suit as he did the rounds in Washington DC. Appearing before a Joint Senate Committees on the Judiciary & Commerce, Science, and Transportation’s Facebook, Social Media Privacy, and the Use and Abuse of Data hearing and a House of Representatives Energy and Commerce Committee's Facebook: Transparency and Use of Consumer Data hearing.
There was an expectation that during these hearings Zuckerberg would reveal the full extent of Facebook's data collection and retention, as well as explain why he allowed third party apps to collect data without the knowledge and/or fully informed consent of up to est, 2 billion Facebook users.
His disingenuous witness statement published ahead of his appearances contains this gem:
Facebook is an idealistic and optimistic company. For most of our existence, we focused on all the good that connecting people can bring.....
This reading of Facebook Inc.'s intentions was reinforced by Mark Zuckerberg testimony before both the Senate and House committees.
He came obviously rehearsed by lawyers and tightly scripted......
Although in his spoken testimony Zuckerberg commenced with yet another apology, in my opinion he frequently dissembled, mislead, misdirected, contradicted a number of his own and Facebook management's public previous statements, lied by omission and sometimes almost defiantly told what appeared to be bald-faced lies.
NOTE: Readers can form their own opinion of Zuckerberg's testimony courtesy of The Washington Post at https://www.washingtonpost.com/news/the-switch/wp/2018/04/10/transcript-of-mark-zuckerbergs-senate-hearing/?noredirect=on&utm_term=.032d3cf2a0e8
& https://www.washingtonpost.com/news/the-switch/wp/2018/04/11/transcript-of-zuckerbergs-appearance-before-house-committee/?utm_term=.cd5f1228fec4.
However Facebook Inc. is not just relying on its founder and CEO's recent testimony to ward of further regulation of its businss practices.
Since 2011 Facebook Inc. has had a registered Political Action Commttee (PAC) which has donated to the 2012, 2014, and 2016 US election campaigns.
As well as in-house and paid lobbyists who spent in total US$11.5 million in 2017 alone fighting against further Internet regulations including any proposed strengthening of privacy protections. Add that to the company's US$8.6M lobbying spend in 2016, $9.8M in 2015, $9.3M in 2014, $6.4M in 2013, $3.8M in 2012, $1.3M in 2011, $351,390 in 2010 and $207,878 in 2009 and one can see that Facebook Inc. is increasingly determined to have the ear of US lawmakers.
Although how successful the social media giant's lobbying efforts on Capitol Hill will be in 2018, it is clear that in has been partially successful in protecting the market value of its shares.
To date this year Facebook Inc.'s ordinary share price has gone from a closing high of US$193.09 (01.02.18) to a low of $152.22 (27.03.18) in the wake of revelations about the company's business practices and, then gradually climbed over the course of 17 days by $12.3 to close at $164.52 (13.03.18), according to Yahoo! Finance.
As for the number of active Facebook users - only time will tell if current figures hold over time. With trust in Facebook Inc. at a new low it will not be surprising to find the number of accounts showing daily activity falling over time as users become more wary of this platform.