Facebook has been struggling to attract younger users for more than a decade, and some senior employees are alarmed over the company’s inability to keep teens engaged. When asked by analysts about growth prospects, Facebook executives frequently paint a rosier picture than the one depicted by internal research, a whistle-blower alleges.
Those are just some of the findings outlined in a cache of disclosures made to the U.S. Securities and Exchange Commission by Frances Haugen, a former Facebook product manager, and provided to Congress in redacted form by her legal counsel. A consortium of 17 U.S. news organizations, including Bloomberg, has obtained the redacted versions received by Congress.
The documents provide rare, vivid insight into ways Facebook, under the guidance of CEO Mark Zuckerberg, created a Silicon Valley social media behemoth that — while frequently posting lavish sales and profit gains — has also faltered in its mission to give users the tools they need to build community and bring the world closer together.