Reality bites for the social media giants like Facebook

Reality bites for the social media giants like Facebook

Ethical concerns and shifting public attitudes mean Facebook’s carefree years of unregulated, untaxed growth are coming to an end

Facebook is projected to boost sales by 46 per cent and double net income, but make no mistake: It had a terrible year. Despite its financial performance, the social media giant is facing a reckoning in 2018 as regulators close in on several fronts.

The main issue cuts to the core of the company itself. Rather than “building global community”, as founder Mark Zuckerberg sees Facebook’s mission, it is “ripping apart the social fabric”. Those are the...

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