Facebook recently had another major sell-off after The New York Times reported that Facebook allegedly made private, personal messages of its users available to companies such as Microsoft and Netflix. According to the report, this practice started in 2010 and in some cases continued into 2018.
We all knew that bears had big fangs, but few people anticipated how much the FAANGs would end up having such a big bear market. The collapse of those companies has been sudden and dramatic.
Sudden, dramatic… and surprising, though it should not have been.