Mark Zuckerberg had a dream: to transcend national boundaries and bring the entire world together to share happy talk on his social media platform, while making a ton of money. How is he doing? Well, one for two gets it done in most sports.
As I have noted before, Facebook is so large, and plays such a significant role in the political process, that it is effectively a worldwide public utility which is accountable only to Zuckerberg. That is a business model which cannot be sustained. All Zuckerberg can do is promise reforms and hope no one notices when he doesn’t deliver, or at least that Facebook’s many critics are too ideologically divided to agree on a remedy. The rear guard action is doomed to fail at some point–probably fairly soon, although not as a result of yesterday’s circus in the House.
BUY OR SELL? Sell, sell, sell! Facebook will ultimately either be severely regulated as a public utility or broken up. I’m guessing the former.