![]() She is also expected to describe how the company’s lack of transparency into how its services actually function makes it virtually impossible for regulators to do their job effectively. How will lawmakers in the US and other countries respond? Facebook whistleblower Frances Haugen is slated to testify before the US Senate tomorrow, and is expected to compare Facebook to Big Tobacco, which knew about the deadly effects of its product on users and did nothing.Will the outage have a lasting effect on Facebook’s stock price, and Mark Zuckerberg’s wealth? Bloomberg reported earlier today that the nearly 5% drop in Facebook stock on Monday resulted in a more than $6bn drop in Zuckerberg’s net worth, sliding him down one rung of Bloomberg’s billionaires list.What does the outage demonstrate about Facebook’s size and influence? “The outage came the same day Facebook asked a federal judge that that a revised antitrust complaint against it by the Federal Trade Commission be dismissed because it faces vigorous competition from other services,” the Associated Press reported, even as the brief disappearance of Facebook showed that “nothing can easily replace the social network that over the past 17 years has effectively evolved into critical infrastructure.”.Owners of small businesses were also disrupted everywhere from India to Ireland. ![]() Who was hurt? The outage affected potentially tens of millions of users worldwide. ![]() But Facebook and its CEO Mark Zuckerberg have offered no public explanation for what exactly went wrong, just a blanket apology for the disruption.
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