Facebook CEO Accused of Securities Fraud

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tommysch

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Facebooks source code... Thats worth like 5 bucks if your lucky.

Its amazing that it took all that time for those dumb f*cks to realize that facebook = the INTERNET = no privacy.
 

Hilarion

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I am so glad that I don't use and have no interest in Facebook other than staying away from them and Mark Zuckerberg.

I'm hoping that this will clean the company up or drive users away from it until it fails.

Mark is displaying himself as just another scuzzball stomping on the people who trusted him.
 

graymen

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So these schmucks are unhappy with a 65 million dollar settlement that turned out to be "only" 32.5 million dollars. Why don't you quit crying over the money you didn't get and take what you got and go do something innovative with it! If you "supposedly" were smart enough to be the original designers of thefacebook when you had ZERO money as college students then now that you are millionaires you should be able to design a space shuttle to mars out of tooth picks!

The point is, quit whining and go do something productive with your millions!
 

Silicon Jesus

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Yeah the source code can't be anything too special. Facebook's value is in the network effect. Each new user makes the site more valuable to every other user, on average. This results in a sort of critical mass of users at which point it is extremely difficult for competitors to enter and thrive in the market. There is a relatively low risk of future profits falling.
 

NapoleonDK

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+1 to Kevin Parrish for not censoring the descriptors used by Zuckerberg in this article.

In other news, Facebook just happens to be on the internet and you probably shouldn't put anything on there that you wouldn't want somebody to know about.
 

spunkymunky

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He should have sold it when he had the offers if he knew he did shady stuff. Everything comes out... this is assuming the charges are true of course.
 

LORD_ORION

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What is really distrubing is that people thought they had any security on their personal info at all. HELLO! THIS IS A FREE SERVICE! How do you think they run it? They are selling your personal data to anyone who will buy it.
 

Blessedman

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yeah I am sorry but if you were tricked, then you were tricked... Grayman even though you have a negative rating on your comments, I think you are spot on. If your lawyers were stupid enough to let this settlement proceed the way it did, well you got what you paid for I guess (and Zuckerberg probably thinks the same thing right about now). Someone needs to beat Facebook to the punch of the next big social push and then it will be just like Myspace.
 

thephilly

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What is really distrubing is that people thought they had any security on their personal info at all. HELLO! THIS IS A FREE SERVICE! How do you think they run it? They are selling your personal data to anyone who will buy it.
If you think a company has free reign over your personal data just because the service is free, you are absurdly mistaken.
 

xpax

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If anything, the way Facebook conducts business may be a key factor in users moving on to find somewhere else to roost and socialize.
Not likely. If people aren't dumping Apple en masse for their nasty and deceptive business practices, I doubt anyone will care if the Facebook CEO was committing securities fraud. Then again, maybe Apple has it's fans brainwashed better.
 

reasonablevoice

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I've deleted my Facebook account already. Really deleted it too, not just "deactivated" it. To all those who also wish to delete their account, make sure to google the link and procedure to ACTUALLY delete your account, since "deactivating" while sounding like it should delete your account, actually saves it and if you ever log into Facebook again, boom, your profile is still there. Kind of like you just didn't log in for awhile.
 
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