Mar 30, 2018

Facebook 'ugly truth' growth memo haunts firm

A Facebook executive's memo that claimed the "Ugly truth" was that anything it did to grow was justified has been made public, embarrassing the company. Facebook has been under intense scrutiny since it acknowledged that it had received reports that a political consultancy - Cambridge Analytica - had not destroyed data harvested from about 50 million of its users years earlier. Mr Bosworth - who co-invented Facebook's News Feed - has held high-level posts at the social network since 2006, and is currently in charge of its virtual reality efforts. The disclosure coincided with Facebook's latest efforts to address the public and investors' concerns with its management. Its shares are trading about 14% lower than they were before the Cambridge Analytica scandal began, and several high profile figures have advocated deleting Facebook accounts.

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