In fact, since the large-scale user information disclosure incident was exposed in March this year, Facebook's share price has been sluggish. At the time, Facebook admitted that the information of 87 million users was improperly shared by third parties.
Although Facebook CEO Mark Zuckerberg (Mark Zuckerberg) personally testified in Congress, the problem has not been completely removed. To make matters worse, Facebook announced late last month that it had discovered a security breach that allowed hackers to gain access to control of user accounts, which affected 50 million accounts.
Some analysts say that the longer the privacy issue drags on, the more likely Facebook's core business will be affected.
"We've heard for the first time that advertisers are starting to complain about Facebook," said Barclays analyst Ross Sandler (Ross Sandler). They hesitated whether to allocate the advertising budget to Facebook. "
In fact, Facebook is also aware of some issues. In order to curb user fleeing, Facebook announced earlier this month to increase the grace period for user account deletion from 14 days to 30 days.
Undoubtedly, doubling the waiting period, Facebook is hoping to give users a longer "cooling-off period", I hope they can change their minds within that period.