Finally. Here In SEC Docs IS EXACTLY WHAT Facebook
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The U.S. Food and Drug Administration have discovered an Abbott Laboratories (ABT) June recall of certain Ellipse Implantable Cardioverter Defibrillators as a Class I remember. Finally. Here in SEC docs is what Facebook has prevented open public knowing and press has mostly missed documenting painfully. Cambridge Analytica. Can everyone please now say that Facebook personal data was sold rather than captured, transferred, etc? Today announced charges against Facebook Inc The Securities and Exchange Commission. To make misleading disclosures about the threat of misuse of Facebook user data.
For more than two years, Facebook’s public disclosures presented the chance of misuse of consumer data as simply hypothetical when Facebook understood a third-party developer acquired actually misused Facebook consumer data. 100 million to settle the charges. The SEC’s problem alleges that Facebook found out the misuse of its users’ information in 2015 but did not write its existing disclosure for more than 2 yrs.
The issue further alleges that during this two-year period, Facebook got no specific guidelines or procedures in spot to evaluate the results of their analysis for the purposes of making accurate disclosures in Facebook’s open public filings. “Public companies must accurately describe the material risks to their business,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.
“As alleged in our complaint, Facebook offered the risk of misuse of user data as hypothetical when they understood user data had in reality been misused. “We allege that Facebook exacerbated its disclosure failures when it misled reporters who asked the business about its investigation into Cambridge Analytica,” said Erin E. Schneider, Director of the SEC’s SAN FRANCISCO BAY AREA Regional Office.
100 million penalty and completely enjoining it from violating Sections 17(a) (2) and 17(a) (3) of the Securities Act of 1933 and Section 13(a) of the Securities Exchange Act of 1934, and Rules 12b-20, 13a-1, 13a-13, and 13a-15(a) thereunder. The SEC’s investigation was conducted by Matthew Meyerhofer and Robert Tashjian and supervised by Tracy L. Erin and Davis Schneider of the SAN FRANCISCO BAY AREA office.
We had a blast. Then, on February 14, 2005 in the faraway land of San Mateo, CA, a niche site was born. It was called “YouTube” and it was amazing. Democratization of video. You didn’t need to be famous or important to place anything on it. You could goof off, show a video of your kitty doing something stupid, and maybe 40 people would watch so you proceeded to go along on your merry way.
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It wasn’t an obsession, it was a distraction. Kind of like the TV is, but for everyone and anyone. That was the point. 1.in November 2006 65 billion when they obtained it lock stock and barrel. Who knew cat videos could be such a big business? In reality, Google saw ridiculous engagement, mainly on illegal content (that they had taken on the legal battles without batting an eyelash), that an opportunity was seen by them to grow it into what it is today…but we’ll get to that later.
Anyways, so we are here, making these fun podcasts and i quickly asked the group “Hey, what if we put an internet cam on us while we published and talked it to this site YouTube. Maybe people would watch us. ” It sounded goofier than podcasting even. But it was done by us.
But still, we shot our video’s, maybe do some editing because we wanted to learn, and then we tossed it up on this web site and proceeded to go along on our merry way. Sometimes we offended someone, but mostly we just used bad language and discussed Silicon Valley stuff from the perspective of blue collar Philly people. The full years went on and it got more fun. We built a set in a homely house in Philadelphia and we’d actual guests on.