We Still Have A Word For It

I’ve always been a skeptic of Facebook, mostly because I don’t understand how they make money. I mean, I know how they make money, but I don’t know why they make money. It’s just a crappy platform for the technologically inept to post pictures of their cat. Facebook charges companies a fee so they can put ads next to the picture of your cat, but why those companies do it is a mystery to me. The whole thing depends upon ordinary people being interesting and looking at those ads, which no one does.

You can’t cheat an honest man and the companies buying ads on Facebook are not Boy Scouts so it is no wonder that Mark Zuckerberg has been hustling them.

Mark Zuckerberg has a credibility problem.

The tech mogul’s Facebook just admitted to finding more “bugs” in the way it measures ads — and once again, those bugs benefited Facebook.

The social-networking giant said Wednesday it has found numerous errors in the ways it calculates how many people view its ads, artificially inflating their perceived value to advertisers and publishers.

Key metrics that Facebook has exaggerated include the weekly and monthly reach of marketers’ posts, which got inflated by 33 percent and 55 percent, respectively, as the site improperly included repeat visitors in its figures.

Elsewhere, Facebook admitted to exaggerating the number of full views that video ads received, as well as time spent by users reading fast-loading “Instant Articles” for publishers including The Post and the Wall Street Journal, both of which are owned by News Corp.

Facebook insisted that the messed-up metrics — which followed the company’s admission in September that it had inflated its reporting of video viewing times to advertisers by as much as 80 percent — didn’t affect billing to publishers and advertisers.

This stuff is not new. It appears to be the business model for Facebook. This video from a couple of years ago sounds a lot like what is in the NYPost story.

Of course, we have a word for this. It’s called fraud. There was a time when something like this would have resulted in the executives at Facebook being led out in chains. Advertisers should be walking away and the stock should be tanking, but that’s not the modern age. Robbing your customers and vendors is just the way it is done at this level. You never give a sucker and even break or smarten up a chump. Ours is a grifter culture where everyone is running a scam.

47 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
James LePore
Member
3 years ago

The class action lawyers cannot be far behind.

Thud
Thud
3 years ago

For good or bad Facebook is integrated into all facets of my friends and family members lives,I’m ok with it as long as I can piggyback on my wifes account as I know quite a few people do who don’t want the whole profile thing, it has more of a reach than many believe…oh and I don’t like cats real or in picture!

Ganderson
Ganderson
Reply to  Thud
3 years ago

I find it deliciously ironic that this hip new thing is mostly used by old farts like me to look at pictures of friends

trackback
3 years ago

[…] SOURCE […]

antipater_1
antipater_1
3 years ago

Z-man, the companies buying add space on Facebook are headed by ruthless businessmen. Why do these men not wise up and stop wasting their add money?

JP Cass
JP Cass
Reply to  antipater_1
3 years ago

They aren’t ruthless, they are stupid. Keep it coming, I get to video chat with my friends in Europe for free. And piss off my liberal friends endlessly.

teapartydoc
Member
3 years ago

The reincarnation of P.T.Barnum. Only he gets the people to entertain themselves and pay him for it. Genius.

Rurik
Member
3 years ago

And I suspect this also explains the mystery of those spam forum postings bragging about making $87.56 per hour working from home -you know the ones I’m talking about.

Nori
Nori
3 years ago

Our grifter culture has been running a scam for decades. Most of America is too decent to believe such people exist. They do,and have profited quite well at the Federal level.

Lorenzo
Lorenzo
3 years ago

I remember Zman’s anecdote the other day about noticing as a young pup that advertising expenditures did not correlate with improved sales.

So, in regarding the folks who spend their companies’ money on Facebook ads, it is well to keep in mind the entire Fields quote, “You can’t cheat an honest man, never give a sucker an even break or smarten up a chump.”

Ganderson
Ganderson
Reply to  Lorenzo
3 years ago

Fields was (is?) an underappreciated genius. ” I remember when we were lost in the wilds of Afghanistan. We lost out corkscrew and had to survive on food and water for more than three days!”

Solomon Honeypickle IV
Solomon Honeypickle IV
3 years ago

It was always thus.

caveat emptor.

Solomon Honeypickle IV
Solomon Honeypickle IV
3 years ago

Zman, what’s your take on the madness being exhibited by the left? it really feels like they are going to force the rest of the country to smash them hard. Do you see something like the Spanish Civil War occurring here?

James LePore
Member
Reply to  thezman
3 years ago

They are also trying to intimidate Trump, especially the large outlets like the NYT, CNN, etc. It has worked in the past with other Republican administrations. I am hoping that Trump continues to fight back hard, continues to loudly and relentlessly call them dishonest and very bad people. This public battle will keep his base awake and aware and guarantee his re-election. The madness on the left will be their undoing.

James LePore
Member
Reply to  thezman
3 years ago

I agree, here’s an example of Trump tweets from today’s news re Pence being abused last night in NY:

“Our wonderful future V.P. Mike Pence was harassed last night at the theater by the cast of Hamilton, cameras blazing. This should not happen!” Trump tweeted.

“The Theater must always be a safe and special place. The cast of Hamilton was very rude last night to a very good man, Mike Pence. Apologize!” he tweeted minutes later.

Go Donald.

Ganderson
Ganderson
Reply to  thezman
3 years ago

I agree. And it shows that Trump is not a dick. Romney said some dick-like things about the Trumpster, Donald lets them roll off his back. How about Cruz for SC? On a slightly OT note: Howie Carr is referring to the allegedly Republican governor of MA as “Tall Deval”. Makes me laugh.

LetsPlay
LetsPlay
Member
Reply to  thezman
3 years ago

I am interested to know more about why you think romney would be good either as SoS or as an Advisor? As far as I am concerned, he is part of the old guard with limited experience and questionable at that, RomneyCare, Bain & Co., Olympics, etc.) and doesn’t fit with what we need today.

James LePore
Member
Reply to  LetsPlay
3 years ago

Maybe he just wants him inside the tent pissing out rather than outside the tent pissing in.

Solomon Honeypickle IV
Solomon Honeypickle IV
Reply to  LetsPlay
3 years ago

rommney is a conduit to theGOPe.

Fuel Filter
Fuel Filter
Reply to  thezman
3 years ago

In other words, classic cult behavior.

Jim Jones was a piker.

Lorenzo
Lorenzo
Reply to  thezman
3 years ago

Read When Prophecy Fails, social psychologist Leon Festinger’s seminal study of this behavior.

Full title: When Prophecy Fails: A Social and Psychological Study of a Modern Group That Predicted the Destruction of the World, to give you an idea what its about.

james wilson
james wilson
Reply to  Lorenzo
3 years ago

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly; and one by one.” —
Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds (1845)

YIH
YIH
3 years ago

”I’ve always been a skeptic of Facebook”
As well you should be:
http://www.businessinsider.com/well-these-new-zuckerberg-ims-wont-help-facebooks-privacy-problems-2010-5
Zuckerberg: People just submitted it.
Zuckerberg: I don’t know why.
Zuckerberg: They “trust me”
Zuckerberg: Dumb fucks.
http://www.wikihow.com/Permanently-Delete-a-Facebook-Account
He told you himself didn’t he?

meema
Member
3 years ago

Until about a month ago I was a dug in hold out. I finally relented and signed on for a couple reasons. One, because the young people in my tribe never check their email anymore, and, two, curiosity. I told myself I’d step in carefully, staying in the shallows. I can’t claim it’s been eye-opening because my discernment skills are fine-tuned. I never click on ads because malware is a real and present danger in the wild wild world of internet. My question is: what difference do Zuck’s numbers make? If I decided to pay money to advertise I’d be… Read more »

LetsPlay
LetsPlay
Member
Reply to  meema
3 years ago

Isn’t that the rub Meema? You aren’t going to pay Faceplant and then “trust” them to report numbers that “they” produce. No, you would expect some kind of independent auditing or have your own finger in the wind measuring the velocity of things. And besides those numbers, the real proof is bottom line results… sales. If there is no correlation, then you know your money is wasted.

JohnTyler
JohnTyler
Reply to  meema
3 years ago

You really hit the nail on the head. Those who advertise on Facebook (or anywhere else) do so voluntarily. No one is forcing them to do this . The advertisers, in theory, have ways to assess the benefits of their advertising dollars. If they refuse to do this, it’s their own damn fault. Who do you blame??? The drug pusher or the individual who sticks the needle into his/her own veins?? We still have the (rapidly disappearing) right in the USA – as individuals – to make sub-optimal or wrong or stupid decisions. And blaming the purveyors of dubious/bad policies/products,… Read more »

UKer
UKer
3 years ago

Old adage: Half of my advertising works, half of it doesn’t. Trouble is I don’t know which half.

Modern adage: Non of my advertising works, but I know it it keeps newspapers and the electronic media going and I like these people a lot because they think like me (or say they do)

Member
Reply to  thezman
3 years ago

It’s easy to spot, and easy to scroll past.

Severian
3 years ago

I’m reading up on modern Russia for this very reason. A grifter culture where everyone’s running a scam… nobody believes a word the Media says…. the government is a hindrance to be avoided at best, a shackle at worst…. zero social trust at any level…. religion and culture nonexistent, having been systematically destroyed from the top… Party membership the only way to advancement… yep, leaving aside Russian, umm, “uniquenesses,” this sounds awful damn familiar.

Member
3 years ago

https://www.youtube.com/watch?v=iicJYTAApbA You’ll appreciate this. I always think of it when I see marketing and products. How many commercials are on TV for soap in all its glorious forms? No, that car won’t change your life or make you cool. (Well, my sweet ruby red F150 with the black leather interior FX4 does, but that’s beside the point.) And, that happiness from eating hamburgers with your hip friends won’t last. And this one too: https://www.youtube.com/watch?v=DGVeZ4XLo4Y I just spent 10 minutes between three friends in two counties coordinating a race meeting on Tuesday while drinking my coffee. My mom is flying out… Read more »

LetsPlay
LetsPlay
Member
Reply to  thezman
3 years ago

You are right! If you put a cover charge on it, many would opt out of using Facebook. They like it because it is “free” not knowing the part about, or not caring that their privacy is being invaded and information sold downline to create a revenue stream that is probably larger than the ad revenue. The user data is what will provide the “hits/clicks/views” for many other products in the future based on the pychographics developed from all the info people giveaway about themselves. And then there is the use that info will be made of by the gummint.… Read more »

Member
Reply to  thezman
3 years ago

Well, I do think the platform is mainly just a Big Data vacuum to suck up consumer preferences and trends. I can mention I am looking for a new snowboard on Facebook, and suddenly all the web pages I visit are putting pictures of snowboards in front of me. I just accept it for what it is. I agree that if they charged for it, there would be a reality check on the actual size of their market. Charging for it causes another problem too: in most places where people pay a fee to use a service, they are doing… Read more »

BillH
BillH
Reply to  hokkoda
3 years ago

We old timers should remind ourselves that $5/mo today equals 50¢/mo in the ’50s-’60s, i.e. the price of a couple of beers back then. I fall into this trap all the time.

JohnTyler
JohnTyler
3 years ago

Zuckerberg, like Hillary Clinton has nothing to fear; he is a well known liberal progressive (like all the billionaire Silicon Valley folks) , big $$$ contributor to the demokratic/socialist/fascist party. Rest assured that the US Senator from Massachusetts, Elizabeth Warren (Pocahontas) will not get atop her tepee and demand he resign or be indicted. Contrast the treatment he will receive (i.e. a gentle slap on a pinkie finger – maybe) with that received by the CEO of Wells Fargo, John Stumpf, who worked for an infidel, non-anointed, evil business/industry (e.g, banking, finance, oil/gas, autos). He was subjected to the usual… Read more »

Severian
3 years ago

Facebook is fascinating for a social pathologist. I’m old enough to remember when logo shirts first got popular. Every wannabe-comedian joked that you’re spending $20 to advertise Nike, when Nike should be paying you! (for best effect, say in Yakov Smirnov accent). But I wore them like everyone else, and when Facebook first got popular I too joined to to see what all the fuss was about… and soon enough I was posting the heterosexual male equivalent of cat pictures, and getting worked up about posts from my “friends,” half of whom were people from high school that I didn’t… Read more »

Doug
Doug
3 years ago

The cultural marxists infect everything with their lies and moral corruption. This permeates everything they touch. It’s cultural diversity all right, the idea being diversion from every concept and idea of honor and virtue which are the bedrock traditions of western civilization. It’s why they are loosing their minds about Alt-Right, because Alt-right is immune to their toxicity. It just doesn’t care.

Guest
Guest
3 years ago

I’ve always suspected most of Facebook’s revenue comes from covert payments from the NSA and/or the CIA.

Member
3 years ago

I know that Facebook still counts me as a member, I’m not.
I setup a login once many years ago because that was the only way I could message a dying friend and say goodbye. I immediately canceled it only to discover that Facebook will not delete any page or user. Accidentally clicking on commenting on a site that only uses Facebook comments activates the damn account again, and again, ad nauseam…
Fortunately I used a disposable email address to start it, so Facebook can’t reach me anymore. God I hate them!

A.T. Tapman (Merica)
A.T. Tapman (Merica)
Member
Reply to  John the River
3 years ago

A few years back Zuckerberg gave Newark NJ a gift, $200,000,00.00, to improve their school system. Zuckerberg met with the all black school board for a report on the improvements to the system and the expected huge leap in minority student performance. The school board reported more money was needed because the last 200million didn’t seem to increase student performance. When he asked what the money was used for the board spoke in platitudes and unicorns. By the time the meeting ended Zuckerberg had earned a new name, Suckerberg. How can anyone purportedly as bright as Suckerberg expect anything different?

LetsPlay
LetsPlay
Member
3 years ago

I don’t feel sorry for Zuckerberg, the advertisers or the users of his service. What I always wonder is just how does a business model develop and get approved by Congress that allows personal privacy to be invaded and monetized the way they do? I am not naive but I am just asking. We all know it is a scam just like G**gle scanning your emails and collecting the same kinds of info for generating ad revenue also. When you watch a TV show and the host ask you to Tweet your vote for this singer or that singer, this… Read more »

Member
3 years ago

Don’t underestimate the power of Facebook in defeating Clinton. When the post-mortems come in, Facebook is going to be “discovered” to have been how the Deplorables kept each other motivated to get out and vote. It’s how people shared Hillary’s criminal email system, and how they shared all the times she lied to them. That video of her collapsing and having to be dragged into an SUV was an internet sensation that the media couldn’t cover up as they would ordinarily do. A lot of the Deplorables discovered on Facebook a way to just tell their lefty/liberal friends to pound… Read more »

eskyman
Member
Reply to  hokkoda
3 years ago

I fully agree! Twitter too, which is ironic: both FB and Twit are owned & operated by the Left, yet those platforms served the Right very well. Every time the “fake news” was put out by the NYT, LAT, Boston Globe, CNN, MSNBC, and so forth- the Right got on to Facebook to tell all their friends what the real truth was, with links, and the same thing happened on Twitter. Instant worldwide communications, which couldn’t be censored in real time! (I’m still having withdrawal symptoms. I was spending hours on Twitter & FB, having a ball! Now things seem… Read more »

Christopher S. Johns
Christopher S. Johns
3 years ago

I don’t watch a lot of new movies, but I did see the Social Network a couple of years ago. The screenwriter Aaron Sorkin used court transcripts to flesh out the story, and the picture of Zuckerberg that emerges is that of a creepy and not-too-bright hustler who stole the idea for Facebook and then tried to ripoff his own business partner using a really amateurish securities fraud. Zuckerbeg comes across as a little Jew with a big chip on his shoulder who thinks he’s a lot smarter than he really is. That such an entitled jerk would still think… Read more »