Surveillance revenues flowed fast and furiously, and the market lavishly rewarded the corporation’s shareholders. [fact]
Surveillance revenues flowed fast and furiously, and the market lavishly rewarded the corporation’s shareholders. By 2017, the Financial Times hailed the company’s 71 percent earnings surge with the headline “Facebook: The Mark of Greatness” as Facebook’s market capitalization rose to just under $500 billion, with 2 billion average monthly active users. Facebook ranked seventh in one important tally of the top 100 companies in the first quarter of 2017, when just a year earlier it hadn’t figured anywhere in the top 100. Advertising, primarily mobile, accounted for nearly every dollar of the company’s revenue in the second quarter of 2017: $9.2 billion of a total $9.3 billion and a 47 percent increase over the prior year.
Shoshana Zuboff, The Age of Surveillance Cap…, loc. 503