One of Facebook’s Earliest Investors Says People Have Lost Trust in Company
Facebook has lost people’s trust “for good reasons” and isn’t responding well to whistle-blower claims that the social-media giant prioritizes profit over user safety, according to one of its earliest investors, Reid Hoffman. Bloomberg:“I’m disappointed,” Hoffman said Wednesday in an interview. Facebook should have been more proactive in response to troubling signs revealed in its own research, he said. “Good for Facebook for doing the research,” Hoffman said. “You discovered some things that are harmful — what are you doing about it?” […] Hoffman, who is a partner at venture capital firm Greylock Partners and a co-founder of LinkedIn, said he hasn’t yet spoken to Zuckerberg but has offered his help with the crisis that the company is facing. To regain trust, Facebook has to be “extra transparent,” he said. “They have to come forward and say, ‘Look, here’s our dashboards, here’s our metrics, here is the ways we are trying to work on this and do things.”