Facebook under fire following Cambridge Analytica exposé

National News
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The future of Facebook as an advertising platform was called into question by marketers, lawmakers and privacy activists on Monday after revelations that its data on 50 million users were harvested and used by Donald Trump’s political ad firm in 2016.

Facebook was already under pressure for its role in enabling fake news across its platform during the 2016 election but had mostly escaped serious consequences. Monday, however, proved different almost immediately following reports from The Guardian and ITN Channel 4 News that revealed the business practices of Cambridge Analytica, which worked closely with Trump’s presidential campaign.

Facebook stock fell sharply at the start of trading, finishing down 6.8 percent — a loss of more than $30 billion in value from the social media giant. 

Read more at NBC News.

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