Despite a deluge of criticism from all sides in 2017, Facebook Inc (NASDAQ:FB) shares had a banner year.
Considering the incredible amount of money the platform and its subsidiaries generates, that shouldn’t be a huge surprise. After all, stock valuations are largely based on future earnings potential, and Facebook has that in spades.
Of course, that doesn’t mean the platform doesn’t have its flaws. CEO Mark Zuckerberg actually admitted these deep issues to CNN Money this week, noting his yearly goal is to fix the major ailments that plague his social media juggernaut:
Zuckerberg said Thursday his personal challenge for 2018 is working to prevent Facebook from being misused in ways that potentially do harm to its billions of users and to society at large.
“The world feels anxious and divided, and Facebook has a lot of work to do — whether it’s protecting our community from abuse and hate, defending against interference by nation states, or making sure that time spent on Facebook is time well spent,” Zuckerberg wrote in a Facebook post Thursday. “My personal challenge for 2018 is to focus on fixing these important issues.”
Specifically, Zuckerberg noted that Facebook makes “too many errors enforcing our policies and preventing misuse of our tools.” These errors have led to the proliferation of fake news, divisive and hateful content, and allowed widespread Russian meddling in the 2016 U.S. presidential election.
So far, investors have shrugged off these major issues. But it appears Facebook is finally serious about fixing them, and that could help mitigate the only real risk the company faces: governmental regulation.
Facebook Inc shares rose $0.77 (+0.42%) in premarket trading Friday. Year-to-date, FB has gained 4.46%, versus a 1.78% rise in the benchmark S&P 500 index during the same period.