What we could really use is a whistleblower from Facebook's dirty tricks division.https://twitter.com/FBoversight/status/1451626096244391940 …
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So in a nutshell, the theory of harm being asserted here to the SEC is that Facebook hurt investors by doing everything it could to maximize profits.
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I'm not super fond of Facebook, but this is an effort to use securities law to create liability for behavior that is not against the law, because we have never regulated it. It takes us a step further away from making good tech policy.
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BREAKING: Another Facebook whistleblower speaks out