They'll probably survive in some diminished form.
But considering how viral bad news can be and how people who use it will be ridiculed by those who don't, eventually you will see some polarisation on whether it's still worth using it. Some will continue to use it, despite the warnings.
But the impact of this event shouldn't be so easily trivialised, because it will actually snowball into questioning what other companies do with your data.
Like Google or Uber. I expect the EU to crack down on them harshly, because people in Europe don't like American companies exploiting their data and monetising it for free. And consumer laws are very strict in the EU, so that's where most of the legislative pressure will come from.
But, you know, even in the USA, the Congress has an axe to grind with Facebook, because they were caught demoting news stories about Republicans a while ago, so they are fully aware of how Facebook can distort politics.
Add the Russian influence on elections scandal and you get a bigger picture. Facebook will be in a worse situation that Hitler, having multiple war fronts open in multiple directions. They're gonna bleed money like hell, trying to face all that shit.
So, this is just the beginning, imo. Expect politicians to exploit this theme and make a big show of calling Facebook reps to give evidence in front of them. Gonna be ugly for business and investors. They're stuck with their current stash of stocks and can't sell too fast without their value going in free fall.
They're gonna threaten Zuckerjew with lawsuits to make him at least create the impression everything is fine so they can start selling and cover their losses. Now it's all about those investors who want to get out, but are stuck with their time-ticking bomb.
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