The Facebook organization is showing signs of stress thanks to all the media and Congressional attention they brought to themselves. According to some Congressmen, the days of the Wild West Internet are over. Congress comes up with the best consumer protection from what George Soros called “a menace to society,” and Facebook will have to answer for their greedy, unethical choices, according to anti-Facebook groups. Facebook and other social media websites will have to protect and respect users by keeping private information private.
Mr. Soros usually has a lot to say at the World Economic Forum. Soros is an international hedge fund genius who knows how to play the investment game at a very high level. Soros is also a major contributor to the Democratic Party. His name gets mentioned when a Democratic mega-donor pulls a fast one that hurts a lot of people. It’s no secret. Soros and other business leaders think Microsoft, Apple, Facebook, and Alphabet are way too big. Mr. Soros thinks the government must regulate the Internet.
When George Soros talks about Facebook in a negative way, his followers listen. Investors start selling Facebook stock and prices drop. People lose money. But some big-time investors bet stock values will fall. If stocks take a beating, the people who “shorted” the stock make a ton of money. Hedge funds investors made bets like that during the 2008 meltdown. Soros made $1 billion when he shorted the pound sterling in 1992.
When Sheryl Sandberg, the COO of Facebook heard what Soros said about Facebook, she thought Soros wanted to send Facebook stock into a tailspin. She thought Soros wanted to make a big score at her company’s expense. So she asked Facebook’s communication team to research the Soros investment portfolio.
But Sandberg’s effort to trap Soros didn’t go that well from a public relations perspective. Facebook got hit over the head with feedback that said the company intentionally trafficked in anti-Semitic attacks.