Facebook and Google handle about 80% of the advertising that exists online, and this duopoly certainly isn't good news for online advertisers. And Facebook became even more dominant this year with a 79% leap in third quarter profit. That's quite a revenue model Mr. Zuckerberg has developed and kudos to him for doing so much in so little time.
But after much ballyhoo about hacking, Russians buying political ads, fake ad traffic, questions about ad effectiveness, complaints about the company's power and influence, as well as other issues that have culminated in a Congressional investigation, the company has decided to improve its image by saying that it will forgo a modicum of future growth and profits in the name of improving the security and safety of its product.
And three cheers for that. The fix involves hiring thousands of security specialists to re-engineer certain functions as well as constructing new artificial intelligence systems to weed out "bad actors". Mr. Zuckerberg has said that he is "dead serious" about these efforts, and this is all certain to generate some positive publicity for Facebook among its many stakeholders. It does appear that marketers there are facing some new facts regarding the political and regulatory environment, and they are smartly adjusting strategy to meet these external threats.
Discussion: Are you concerned about Facebook's power and influence? In what ways, if any, should the government intervene?