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They allegedly fell victim to the whole "pivot to facebook video" craze caused by Facebook misreporting their video engagement figures. Whether some business u

They allegedly fell victim to the whole "pivot to facebook video" craze caused by Facebook misreporting their video engagement figures. Whether some business unit inside Facebook did this intentionally or not, it's a big reason why I think media companies have turned against Facebook as they feel like they got ratfucked.

tombert 7y ago
Maybe this has already happened, but wouldn't this be grounds for a lawsuit? If businesses are going bankrupt because of outright lies or negligence on a company's part, I would think you have grounds for damages and class-action lawsuit. I'm speaking out of my butt here, I'm not a lawyer.
- ceejayoz 7y ago
  They got a tiny slap on the wrist. $40M. https://www.hollywoodreporter.com/thr-esq/facebook-pay-40-million-under-proposed-settlement-video-metrics-suit-1245807 https://www.hollywoodreporter.com/thr-esq/facebook-pay-40-mi...
  - tombert 7y ago
    Thanks! This is kind of depressing; I suspect that $40 million is barely a blip in Facebook's advertising budget, so the sad part is that this probably had almost-literally no effect on them. I guess it's not a new thing for corporations to own the world, but it's always sad when I'm reminded of it.
    - caseysoftware 7y ago
      To put that in perspective.. In Q3 2019, Facebook had nearly $18B in revenue. Therefore, $40M is about 5 hours of their revenue.
      - spamizbad 7y ago
        Crazy. That would be like an average American household getting fined $150 (63000/40/52)... so a speeding ticket basically.
    - sixtypoundhound 7y ago
      That is what is politely referred to as a "cost of doing business"....
rchaud 7y ago
It is completely intentional, and a company-wide initiative. I have been to several digital marketing conferences and at the big ones there is always a FB speaker/panelist that's there for no other reason than to shill for "video marketing" on FB.

tombert 7y ago

Maybe this has already happened, but wouldn't this be grounds for a lawsuit? If businesses are going bankrupt because of outright lies or negligence on a company's part, I would think you have grounds for damages and class-action lawsuit. I'm speaking out of my butt here, I'm not a lawyer.

ceejayoz 7y ago
They got a tiny slap on the wrist. $40M. https://www.hollywoodreporter.com/thr-esq/facebook-pay-40-million-under-proposed-settlement-video-metrics-suit-1245807 https://www.hollywoodreporter.com/thr-esq/facebook-pay-40-mi...
- tombert 7y ago
  Thanks! This is kind of depressing; I suspect that $40 million is barely a blip in Facebook's advertising budget, so the sad part is that this probably had almost-literally no effect on them. I guess it's not a new thing for corporations to own the world, but it's always sad when I'm reminded of it.
  - caseysoftware 7y ago
    To put that in perspective.. In Q3 2019, Facebook had nearly $18B in revenue. Therefore, $40M is about 5 hours of their revenue.
    - spamizbad 7y ago
      Crazy. That would be like an average American household getting fined $150 (63000/40/52)... so a speeding ticket basically.
  - sixtypoundhound 7y ago
    That is what is politely referred to as a "cost of doing business"....

rchaud 7y ago

It is completely intentional, and a company-wide initiative. I have been to several digital marketing conferences and at the big ones there is always a FB speaker/panelist that's there for no other reason than to shill for "video marketing" on FB.