Market Direction Mid Week Update©

Market Direction: BULLISH alert issued 2/15/2018

Facebook Problems... 

A Facebook Inc. executive wrote a memo in 2016 that said the company’s strategy of growth at any cost could have disastrous consequences — even cause deaths — yet still be “justified.”

In the leaked memo, published Thursday by Buzzfeed, Facebook Vice President Andrew Bosworth talked about the “ugly” side of the social network’s impact on the world.

“The ugly truth is that we believe in connecting people so deeply that anything that allows us to connect more people more often is *de facto* good,” he wrote. “We connect people. Period. That’s why all the work we do in growth is justified.”

In a tweet Thursday, Bosworth said he did not agree with what he wrote at the time, and that he meant to play devil’s advocate.

“Having a debate around hard topics like these is a critical part of our process, and to do that effectively we have to be able to consider even bad ideas, if only to eliminate them,” he said Thursday.

The memo shows some insight into how Facebook executives recognized — or ultimately failed to recognize — the unintended consequences of its platform.

Read: If this British billionaire has it right, ‘sinister’ Facebook is about to get crushed

CEO Mark Zuckerberg told Buzzfeed that at the time he disagreed strongly with the memo, and that “We’ve never believed the ends justify the means.” Zuckerberg noted that last year the company instituted changes to focus on bringing people together, not just connecting them.

Facebook is currently under fire over the unauthorized data-mining of 50 million users’ personal information by Cambridge Analytica. It has also received heavy criticism in recent years over unintended consequences such as Russian meddling efforts during the 2016 election, the spread of fake news and people using the platform to broadcast violent videos.

Also see: The cult of Facebook: You can log out any time you like, but you can never leave

Facebook shares FB, +4.42%   have fallen more than 10% in the past month, but are still up 12% over the past 12 months, compared to the S&P 500’s SPX, +1.38%   3% decline and 12% gain, respectively.

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The all-time highs since our initial recommendation to go LONG this market. Here is how the markets have performed:

Stock Market Direction Recommendation (2/15/2018)
Dow	up 599.98 points a 2.38% gain	2/27/18
Nasdaq	up 181.66 points a 2.50% gain	3/13/18
S&P 500	up 70.70 points a 2.59% gain	3/13/18

Related Link: http://www.stockmarket-direction.com/