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Inside Facebook

Inside Facebook (Mar 14th, 2017)

$FB (12:47 pm EST): $138.59 (↓ 1.01%) // 90-day high: $139.68 // 90-day low: $115.5 // More info

Facebook CEO Mark Zuckerberg spoke to students about diversity Monday at North Carolina A&T. During the Q&A with students at the predominantly black college, a student asked about the lack of diversity at Facebook and in Silicon Valley: “What do you intend to do about that and what advice would you give to us as minorities to strategically navigate the entrepreneurial world so that we can be included?” “Frankly, I think that that’s our problem to figure out,” Zuckerberg said. He said Facebook “has had to build specific teams” to focus on diversity and that he’s particularly invested in unconscious bias training for his hiring managers. “We do this really rigorous training for every manager on Facebook because a lot of people who think they care about diversity actually have a lot of these biases that hold them back.” Facebook is less than two percent black. The company has 145 black employees out of 8,446 in total, according to 2015 data. – GIZMODO

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Facebook has announced a new policy that prevents developers from using the company’s data for surveillance purposes. "We are committed to building a community where people can feel safe making their voices heard," Facebook said in a blog post. "Our approach involves making careful decisions every day about how we use and protect data at Facebook." The decision comes after the American Civil Liberties Union in October discovered Facebook, Instagram and Twitter data were used by Geofeedia to target minorities in cities including Oakland, Denver and Seattle. Geofeedia sold itself to police departments as a tool for monitoring activists and protests. Facebook says it worked with the ACLU and other diversity groups, to craft the policy change. –  ADWEEK

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Facebook could face fines up to $53 million for not doing enough to curb hate speech. A German court made the ruling to force Facebook and other social media companies such as Twitter to do more to strengthen their efforts to delete illegal posts. Facebook has faced heavy scrutiny for allowing the spread of "fake news" or terrorist propaganda.The regulatory push has collided with free speech enthusiasts, who warn against demanding that Facebook police everything on its social networking site. “We must increase the pressure on social networks,” Heiko Maas, Germany’s minister of justice and consumer protection, said in a statement. “This will set binding standards for how companies running social networks must handle complaints and require them to delete criminal content.” – NEW YORK TIMES

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The Motley Fool takes a look into "6 things you didn't know about Facebook." As the social networking company experiences record stock highs and expands into the world of video, the Fool glimpses back at the early days of the company and the things people may not know or have forgotten about. Among the gems: Facebook owns the patents of Friendster, the first social networking site to reach one million users; Facebook's colors are blue and white because founder Mark Zuckerberg is color blind; Oculus VR won an Emmy; Facebook tried to buy Snapchat in 2013 for $3 billion. Facebook has 1.86 billion users and is worth more than $400 billion. – MOTLEY FOOL

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Let's take a look now at how Facebook played a role in some recent crime events:

A Texas man streamed his high-speed police chase on Facebook Live. The chase began after authorities served a narcotics search warrant at the home of Erasmo Hernandez. Hernandez led police on a 30-minute chase from Pasadena to southeast Houston. The suspect’s Hyundai Sonata got a flat tire about 20 minutes in. Hernandez now faces charges of felony possession of a weapon and evading arrest. Authorities said the Facebook Live video could be used against him in court. – KDVR

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A California sushi bar owner is facing criticism over controversial remarks he made on Facebook about Hispanics and their willingness to leave tips. Steve Wayte, the owner of Roll One For Mi, wrote “My servers are thinking about building a wall around the restaurant. Why don’t many Hispanics tip?” After a backlash, he deleted the message and apologized, saying he meant it as a joke. “There was no malice in my heart, and I was just defending my staff that works hard to put a quality product and good service,” Wayte said. “This was nothing against the Hispanic community.” He said he was venting after four customers left no tip earlier in the day. Fresno County Supervisor Henry Perea called for a boycott of the restaurant. – KMOV

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International authorities used Facebook to track down and arrest an Italian man suspected of drug dealing. Police arrested Giulio Perrone, 65, a convicted drug smuggler who had been on the run for more than two decades, in Mexico. Perrone had been living under an alias of Saverio Garcia Galiero, posting Facebook pictures of himself smiling in beach photos alongside a companion. Detectives studied Perrone's timeline to confirm his real identity. Perrone, according to police, collaborated with Mazzarella, Formicola, Polverino and Tolomelli families and was one of the kingpins in a drug trafficking operation importing cocaine into Germany in the 1980s and 90s. – BUSINESS INSIDER

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