Facebook’s business is booming, but it says preventing abuse will cut into future profits
Facebook was front and center in the news today, testifying before legislators in Washington, DC about how state actors like Russia used its platform to try and influence the 2016 election. The company said Russian agents spent just $46,000 on advertising — compared to the $81 million the Trump and Clinton campaigns dropped — but Russia’s effort still managed to reach over 126 million users.
CEO Mark Zuckerberg addressed the issues surrounding the company in the opening of its letter to investors. “Our community continues to grow and our business is doing well," Zuckerberg said. "But none of that matters if our services are used in ways that don't bring people closer together. We're serious about preventing abuse on our platforms. We're...