Facebook is projected to boost sales by 46% and double net income, but make no mistake: It had a terrible year. Despite its financial performance, the social media giant is facing a reckoning in 2018 as regulators close in on several fronts.
The main issue cuts to the core of the company itself: Rather than “building global community,” as founder Mark Zuckerberg sees Facebook's mission, it is “ripping apart the social fabric.” Those are the words of Chamath Palihapitiya, the company's former vice-president of user growth. He doesn't allow his kids to use Facebook because he doesn't want them to become slaves to “short-term, dopamine-driven feedback loops.”