Facebook made the news, once again, for the WRONG reasons.
Let’s FACE IT (no pun intended), no one trusts Facebook to do the right thing.
Why?
Because of the long string of integrity disasters over data collection, storage, and use… the lack of transparency regarding algorithms used for any and all self-serving and discriminatory purposes… and questionable (at least non-transparent) “content moderation” practices… just to name a few.
The latest revelation about Facebook’s knowledge of the detrimental impact of social media on young girls (and who knows what other information Facebook has of negative impact on others) is a reminder of other large, powerful organizations that unethically (if not illegally), concealed information of damage to its customers (users in Facebook’s case) and society as a whole. Think big tobacco and opioid manufacturers/distributers.
As one commentary said recently, Facebook seems to be:
“toxic at its core.”
Facebook apparently never got the memo (see Business Roundtable Statement) about the need for corporate America to balance interests among all stakeholders, not just shareholders.
Hey Zuckerberg – that means – look out for the interests of customers, suppliers, employees, and communities.
It is obvious that at Facebook it is all about the number of users and the number of clicks – which turns into advertising revenue and a lot of profit at a 80% gross margin. Why else is Zuckerberg’s net worth reported lately to be about $120 billion?
So, what’s my advice to Facebook?
After 15 years (yes, Facebook has only been around for 15 years), you better start thinking about trust and integrity as a value.
If you are wondering, Facebook’s primary values are as follows: be bold; focus on impact; move fast; be open; and build social value.
Where’s honesty, trust, and integrity? (Check out this article from 2018 – I have been using this as an example of LACKING VALUES in my CPE courses for 3 years!)
Then, Facebook, and Zuckerberg, you better start walking the talk.
Start leading with honesty, trust, and integrity. Not “Delay, Deny, and Deflection.” (Again, I have been using Zuckerberg as a “Big Me” example in society for years, and now I am using Facebook as one of my 7 Deadly Ethical Sins: Deny & Deflect. See 2018 NY Times article here.)
By the way, did you see that he wrote a 1300 word memo to his employees (but available to the public on his Facebook page, of course) denying and deflecting Francis Haugan, the brave whistleblower trying to reveal the truth behind Facebook’s motives? Here was my evaluation on LinkedIn of the Forbes article that summed up the memo nicely.
Okay Facebook, lastly, it’s time to take seriously the message (included in my Ethics book) of Punit Renjen:
“Exceptional businesses sustain bottom-line results, which they invest to create meaningful, positive impact for their stakeholders.”
Zuckerberg… you have clearly achieved the bottom line results,… where is the “positive impact?”
For the sake of the 60% of the world using your platform, please start focusing on what you SHOULD do, not what you COULD do.
Amanda “Jo” Erven, CPA, CIA, CFE, is the President and Founder of Audit. Consulting. Education. LLC. After a successful career in external/internal audit and accounting, Jo is now an active Internal Audit Strategist, Management Consultant, Higher Education Professor, Author, and Trainer/Speaker, providing Continuing Professional Education (CPE) hours, live and virtually, to organizations across the globe. Jo’s motto says the most about her personal and professional outlook: “Good things come to those who wait… but don’t. You deserve better than good.” Every one of her books and presentations focuses on that proactive stance, and how we can immediately connect our actions to our values.
Email Jo to book your next CPE Program! Jo@AuditConsultingEducation.com
