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Fintech is Facebook’s latest foe

If Facebook doesn’t up its game on fraud, it will lose more and more friends in the tech world

Credit: Daniel Chetroni / Shutterstock

Since it was founded in a college dorm two decades ago, Facebook has never been short of controversy.

Perhaps that’s because its founder, Mark Zuckerberg, has never been worried about attracting it.

Even in the early days, when a friend of Zuckerberg asked how he managed to collect thousands of personal emails, pictures and addresses, he replied:

“People just submitted it. I don’t know why. They ‘trust me’. Dumb f*cks.”

When he would later be asked more probing questions, this time by members of Congress in Washington, the Zuck’s responses were less curt. But back in California, the attitude was quite different.

An explosive new book on Facebook, “Careless People”, written by a senior insider, alleges that the company worked closely with the Chinese government to try to get permission to operate there....