The Flinchum File
Thoughtful Economic Analysis and Existential Opinions

Best Loser of 2018

12/23/2018

My favorite stock in 2018 was Facebook (FB) — not because it did well, but because it did poorly,  losing 30% of its value!

Early on, I recognized their business model was to sell the privacy of others, albeit with their “consent.”  The need to connect with others was more important than privacy.  The need for targeted advertising was more important than privacy.

I have bought this stock exactly one time, for a client who had insisted on it.

This year, it was exposed that Facebook had sold access to the personal information of many users and was even used by the Russians to  interfere with our 2016 election.  This year, Facebook received the condemnation they deserve, and I expect will receive much greater regulation in the near future.  Good!

Unfortunately, the purpose of the browser on your laptop is also to spy on you.  Just because access to the internet is a great thing, let us not forget that it has a dark underbelly.  Facebook was just the most obvious abuser of privacy this year.  There are many others . . .

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