Facebook, other social networks seem to have peaked in US, Europe: Varney

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Facebook growth stalled, stock is down, something's got to give: Varney

FBN's Stuart Varney on concerns about the future of Facebook.

I don't have a Facebook account. The show does, I don't. And I am not likely to join the club anytime soon.

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Point No. 1: I don't like being surveilled, checked out. I know it’s almost inevitable in the digital era, but I don't have to like it. We keep hearing about the detailed profile that Facebook and other social networks accumulate on all of us. It’s invasive. It penetrates my ring of privacy. No thanks.

Secondly, I don't care to have my news censored, certainly not by a cadre of liberals. Facebook's censors skew against conservatives: Just today, they had to own up to blocking pro-gun ads for a political candidate. No thanks, I'll decide what I want to read. I don't trust you.

Third, didn't Facebook used to be fun? My family tells me it was a great way to keep up with far-flung relatives and friends. But they tell me it’s now turned nasty. Who wants to read an endless screed of harsh political opinion? You lose friends that way.

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What I'm really asking here, is whether our full-blown love affair with social networks is beginning to fade. In America and Europe, it looks like it’s peaked.

Now Facebook is very much the creation of founder Mark Zuckerberg. Should he step aside? There's a movement among some shareholders to replace him. Bring in an adult, capable of running a maturing company. Granted, Zuckerberg has an almost impossible task: How do you maintain privacy, and keep your profitability? And how do you censor and monitor the posts of 2 billion people? Talk about a rock and a hard place.

But that’s where we are, all of a sudden. Facebook is under attack. Its user growth has stalled. The stock price is way, way down, and the call is out to find new management.

Something’s got to give.

What do you think?

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