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.
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.